FIXED LIBOR RATE OPTION Clause Samples
FIXED LIBOR RATE OPTION. A rate per annum (based on a year of 360 days and actual days elapsed) for each day during the applicable Funding Period equal to the Fixed LIBOR Rate for such Funding Period plus the amount of basis points hereinafter set forth next to the Applicable Margin Ratio in effect as of the date the Fixed LIBOR Rate Option is selected by the Borrower (subject to the provisions of SECTION 2.09 hereinafter set forth): ------------------------------------------------------------- ------------------------------- APPLICABLE MARGIN RATIO (measured as of the date the Fixed LIBOR RATE Option selected by ADDITIONAL BASIS Borrower goes into effect) POINTS: ------------------------------------------------------------- ------------------------------- greater than or equal to 4.00 but less than 4.50 300 ------------------------------------------------------------- ------------------------------- greater than or equal to 3.25 but less than 4.00 240 ------------------------------------------------------------- ------------------------------- greater than or equal to 2.25 but less than 3.25 215 ------------------------------------------------------------- ------------------------------- greater than or equal to 1.00 but less than 2.25 190 ------------------------------------------------------------- ------------------------------- less than 1.00 165 ------------------------------------------------------------- ------------------------------- The Agent shall give prompt notice to the Borrower and each Lender (in any event within ten (10) Business Days of its receipt of the quarterly financial statements or annual reports described in SECTION 5.01 hereof) of (i) the Floating Rate determined or adjusted in accordance with the definition of the Floating Rate, (ii) the Fixed LIBOR Rate determined or adjusted in accordance with the definition of the Fixed LIBOR Rate, and (iii) the Applicable Margin Ratio (and corresponding Basis Points added or subtracted) determined in accordance with the definition of the Applicable Margin Ratio based upon the information set forth in the most recent quarterly financial statements or annual reports described in SECTION 5.01 hereof, which determinations or adjustments shall be conclusive absent manifest error, each such determination or adjustment to be effective as of the first Business Day following the most recently concluded fiscal quarter.
FIXED LIBOR RATE OPTION. A rate per annum (based on a year of 360 days and actual days elapsed) for each day during the applicable Funding Period equal to the Fixed LIBOR Rate for such Funding Period plus the amount of basis points hereinafter set forth next to the Applicable Margin Ratio in effect as of the date the Fixed LIBOR Rate Option is selected by the Borrower (subject to the provisions of SECTION 2.09 hereinafter set forth):
FIXED LIBOR RATE OPTION. A rate per annum (based on a year of 360 days and actual days elapsed) for each day during the applicable Funding Period equal to the Fixed LIBOR Rate for such Funding Period plus the amount of basis points hereinafter set forth next to the Applicable Margin Ratio in effect as of the date the Fixed LIBOR Rate Option is selected by the Borrower (subject to the provisions of SECTION 2.09 hereinafter set forth): APPLICABLE MARGIN RATIO (measured as of the date the Fixed LIBOR Rate Option selected by Borrower goes into effect) ADDITIONAL BASIS POINTS: Greater than or equal to 4.00 but Less than 4.50 275 Greater than or equal to 3.25 but Less than 4.00 215 Greater than or equal to 2.25 but Less than 3.25 190 Greater than or equal to 1.00 but Less than 2.25 165 Less than 1.00 140 The Agent shall give prompt notice to the Borrower and each Lender (in any event within ten (10) Business Days of its receipt of the quarterly financial statements or annual reports described in SECTION 5.01 hereof) of (i) the Floating Rate determined or adjusted in accordance with the definition of the Floating Rate, (ii) the Fixed LIBOR Rate determined or adjusted in accordance with the definition of the Fixed LIBOR Rate, and (iii) the Applicable Margin Ratio (and corresponding Basis Points added or subtracted) determined in accordance with the definition of the Applicable Margin Ratio based upon the information set forth in the most recent quarterly financial statements or annual reports described in SECTION 5.01 hereof, which determinations or adjustments shall be conclusive absent manifest error, each such determination or adjustment to be effective as of the first Business Day following the most recently concluded fiscal quarter. 24 29