LIBOR Advance Clause Samples
LIBOR Advance. The Borrower may obtain Advances by submitting an Advance request, in the form attached hereto as Exhibit "A" two (2) Business Days prior to date on which Advance is to be made during the Advance Period at the "LIBOR Rate" (defined below) for the "Applicable Interest Period" (defined below) plus fifty (50) basis points. Each Advance requested under this Section 3(a) shall be in the minimum amount of $100,000. The term "LIBOR" or "LIBOR Rate" shall mean, as applicable to any Advance under this Section 3(a) (a "LIBOR Advance"), the rate per annum (rounded upward, if necessary, 2 to the nearest 1/32 of one percent) as determined on the basis of the offered rates for deposits in U.S. dollars, for an Advance term as specified by Borrower of either thirty (30) days, sixty (60) days, ninety (90) days, one hundred twenty (120) days, one hundred eighty (180) days or three hundred sixty (360) days (the "Applicable Interest Period") which appears on the Telerate page 3750 as of 11:00 a.m. London time on the day that is two London Banking Days preceding the first day of such LIBOR Advance; provided, however, if the rate described above does not appear on the Telerate System on the interest determination date, the LIBOR Rate shall be the rate (rounded upwards as described above, if necessary) for deposits in dollars for a period substantially equal to the Applicable Interest Period on the Reuters Page "LIBOR" (or such other page as may replace the LIBOR Page on that service for the purpose of displaying such rates), as of 11:00 a.m. (London Time), on the day that is two (2) London Banking Days prior to the beginning of such Interest Period. "Banking Day" shall mean, in respect of any city, any date on which commercial banks are open for business in that city. If both the Telerate and Reuters system are unavailable, then the rate for that date will be determined on the basis of the offered rates for deposits in U.S. dollars for the number of days in the Applicable Interest Period which are offered by four major banks in the London interbank market at approximately 11: 00 a.m. London time, on the date that is two (2) London Banking Days preceding the first day of such LIBOR Advance as selected by the Calculation Agent. The principal London office of each of the four major London banks will be requested to provide a quotation of its U.S. dollar deposit offered rate. If at least two such quotations are provided, the rate for that date will be the arithmetic mean of the quo...
LIBOR Advance. The term "Libor Advance" means any principal outstanding under this Note which pursuant to this Note bears interest at the Libo Rate.
LIBOR Advance. Each LIBOR Advance shall bear interest on the outstanding principal amount thereof, for each day during each LIBOR Period applicable thereto, at a fixed rate per annum equal to LIBOR plus two and three quarters percent (2.75%); provided, however that if Borrower earns Net Income in excess of Zero and 00/l00 Dollars ($0.00) in a fiscal quarter, then each LIBOR Advance shall bear interest on the outstanding principal amount thereof, for each day during each LIBOR Period applicable thereto, at a fixed rate per annum equal to LIBOR plus two and one quarter percent (2.25%).
LIBOR Advance. The Borrower may elect, effective on the last day of the then current Interest Period applicable thereto: (i) to convert a LIBOR Advance to (x) a Floating Rate Advance, in a principal amount equal to the Equivalent Cdn. $ Amount of such LIBOR Advance determined on the date of such conversion, or (y) a US Base Rate Advance; or (ii) to have such LIBOR Advance continued as such Type of Advance for an additional Interest Period. If the Borrower has made no such election, on the expiry of the then current Interest Period, such Advance shall be automatically converted to a US Base Rate Advance, effective on the last day of such Interest Period.
LIBOR Advance. For the Libor Advance, interest or fees, as applicable, will be calculated and payable in the manner set forth in Schedule A attached hereto and made a part hereof.
LIBOR Advance. An Advance bearing interest calculated by reference to ------------- LIBOR.
LIBOR Advance. A Borrower may elect, effective on the last day of the then current Interest Period applicable thereto: (i) to convert a LIBOR Advance to a U.S. Base Rate Advance or, in the case of a Canadian Borrower, to a Floating Rate Advance or a Bankers’ Acceptance (or BA Equivalent Note); or (ii) to have such LIBOR Advance continued as such Type of Advance for an additional Interest Period. If a Borrower has made no such election, on the expiry of the then current Interest Period, such LIBOR Advance shall be automatically converted to a U.S. Base Rate Advance, effective on the last day of such Interest Period.
LIBOR Advance. The term “LIBOR Advance” means any principal outstanding under a Loan which bears interest based on LIBOR.