LIBOR Base Rate Sample Clauses

LIBOR Base Rate. Interest shall accrue on the unpaid principal balance of the Note at a variable per annum rate equal to the One Month LIBOR Base Rate (as hereinafter defined), plus a margin of 250 basis points (or 2.50%) (the “Interest Rate”). The Interest Rate may change as often as monthly. The interest rate hereunder shall be adjusted monthly in accordance with fluctuations in the One Month LIBOR Base Rate. The effective date of any rate change will be the last Business Day (as defined below) of each month. SOUTHERN FIRST BANCSHARES, INC.
Sample 1
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LIBOR Base Rate. Applicability Margin Margin ------------- ------ ------ (i) If the Fixed Charges Coverage Ratio is equal to or greater than 1.75 to 1 1.750% 0.250%
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LIBOR Base Rate. 7 LICENSES.....................................................................................................7, 41 LIEN.............................................................................................................7 LOAN.............................................................................................................7
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LIBOR Base Rate. 7, 61 LIBOR Loans........................................61
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LIBOR Base Rate. This Note shall bear interest at the LIBOR-Based Rate. On the first Business Day of each month the Lender shall determine the LIBOR-Based Rate for the then-current month, and all outstanding Advances under this note as well as all Advances made during such calendar month shall accrue interest at the LIBOR-Based Rate. If in the Lender's opinion it is impossible or impractical to obtain the LIBOR-Based Rate for a certain calendar month, all outstanding Advances as well as all Advances made during such calendar month shall bear interest as the Prime Rate. Such interest shall be payable monthly in arrears on the 15th day of each month for the period ending the last day of the immediately preceding calendar month. As used herein (a) "LIBOR-Based Rate" shall mean a fixed rate 125 basis points in excess of the rate of interest determined by the British Bankers Association as reported in the Wall Street Journal of the cost of the funds available to the Lender from the purchase on the London interbank market of funds in the form of time deposits in United States dollars in the approximate amount of the Maximum Line of Credit having a one month maturity, adjustable for any applicable LIBOR Reserve Requirement; and (b) "LIBOR Reserve Requirement" shall mean the percentage prescribed by the Board of Governors of the Federal Reserve System (or any successor Government Authority), on the date on which the LIBOR-Based Rate is determined, for determining the reserve requirements of the Lender (including any marginal, emergency, supplemental, special or other reserves) with respect to liabilities relating to time deposits purchased in the London interbank market having a one month maturity, without benefit or credit for any proration, exemptions or offsets under any now or hereafter applicable regulations.
Sample 1
LIBOR Base Rate. Effective May 31, 2000, the definition of LIBOR Based Rate in Section 1.1 of the Loan Agreement is hereby deleted and replaced in its entirety as follows: LIBOR Based Rate - The LIBOR Rate plus the corresponding per annum percentage based on the following applicable Funded Debt to Tangible Net Worth ratio: Funded Debt to Tangible Net Worth Ratio Per Annum Percentage Less than 1.75:1 Greater than 1.75:1 but less than 2.65:1 Greater than 2.65:1 but less than 3.00:1 Greater than 3.00:1 but less than 3.50:1 Greater than 3.50:1 .95% 1.00% 1.100% 1.200% 1.500% The applicable per annum percentage adjustment shall change quarterly, based on the results of Borrowers’ most current quarterly Financial Statements, on the first day of the next fiscal quarter following delivery to Agent of such Financial Statements. Notwithstanding anything to the contrary herein and subject to Section 2.5(c) of this Agreement, the Funded Debt to Tangible Net Worth Ratio shall be deemed to be greater than 3.50:1 if: (i) Borrowers fail to deliver the financial statements required to be delivered by it pursuant to Section 6.11 of the Loan Agreement, during the period from the expiration for the required time delivery thereof until such financial statements are delivered, or (ii) an Event of Default (other than that caused by a failure to deliver financial statements as described in clause (i) above) or Unmatured Event of Default has occurred.
Sample 1

Related to LIBOR Base Rate

  • Base Rate The greater of (a) the fluctuating annual rate of interest announced from time to time by the Agent at the Agent’s Head Office as its “prime rate” or (b) one half of one percent (0.5%) above the Federal Funds Effective Rate. The Base Rate is a reference rate and does not necessarily represent the lowest or best rate being charged to any customer. Any change in the rate of interest payable hereunder resulting from a change in the Base Rate shall become effective as of the opening of business on the day on which such change in the Base Rate becomes effective, without notice or demand of any kind.

  • LIBOR Rate The election of LIBOR Rates shall be subject to the following terms and requirements:

  • Eurodollar Rate Each Eurodollar Loan shall bear interest (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is made or created until the last day of the Interest Period applicable thereto or, if earlier, until maturity (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted Eurodollar Rate, payable on the last day of each Interest Period applicable thereto and at maturity (whether by acceleration or otherwise) and, with respect to any Eurodollar Loan with an Interest Period in excess of three months, on the date occurring every date which is three months after the date such Loan is made or created; provided that if on the last day of the Interest Period applicable to any Eurodollar Loan the Company does not pay such Loan, such Loan shall automatically become a Domestic Rate Loan as of the day immediately following the last day of the Interest Period applicable thereto.

  • Alternate Base Rate Loans During such periods as Revolving Loans shall be comprised of Alternate Base Rate Loans, each such Alternate Base Rate Loan shall bear interest at a per annum rate equal to the sum of the Alternate Base Rate plus the Applicable Percentage; and

  • LIBOR Borrower may prepay principal on any portion of this Note which bears interest determined in relation to LIBOR at any time and in the minimum amount of One Hundred Thousand Dollars ($100,000.00); provided however, that if the outstanding principal balance of such portion of this Note is less than said amount, the minimum prepayment amount shall be the entire outstanding principal balance thereof. In consideration of Bank providing this prepayment option to Borrower, or if any such portion of this Note shall become due and payable at any time prior to the last day of the Fixed Rate Term applicable thereto by acceleration or otherwise, Borrower shall pay to Bank immediately upon demand a fee which is the sum of the discounted monthly differences for each month from the month of prepayment through the month in which such Fixed Rate Term matures, calculated as follows for each such month:

  • Quoted Rate At a fixed rate per annum to be quoted by Agent in its sole discretion in each instance. Under this option, rates may be fixed on such balances and for such periods, as may be agreeable to Agent in its sole discretion in each instance, provided that: (1) the minimum fixed period shall be 30 days; (2) amounts may be fixed in increments of $100,000.00 or multiples thereof; and (3) the maximum number of fixes in place at any one time shall be five.

  • Base Rate Advances During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

  • Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Base Rate Loans During such periods as Revolving Loans shall be comprised in whole or in part of Base Rate Loans, such Base Rate Loans shall bear interest at a per annum rate equal to the Adjusted Base Rate.

  • Alternate Rate of Interest If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

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