LIBOR Based Rate Loans Sample Clauses

LIBOR Based Rate Loans. Apart from the provisions of Section 2.5(c) above, if applicable, no portion of any LIBOR Based Rate Loan may be prepaid at any time unless the Borrower first satisfies in full its obligations under Section 2.8 below arising from such prepayment.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
LIBOR Based Rate Loans. LIBOR Based Rate Loans may not be prepaid on any date other than the last day of the selected Interest Period unless Borrower gives Agent written notice of such intention prior to 1:00 p.m. on a Business Day which is no less than two (2) Business Days prior to the date it intends to make such prepayment (unless such prepayment must be immediate because of the illegality of LIBOR Based Rate Loans as set forth in Section 2.4(c)(iv) hereof, in which case Borrower shall not be required to provide such notice) and pays a prepayment fee in accordance with Section 2.4(c)(v) above. All such prepayments must be of the full amount of the applicable LIBOR Based Rate Loan plus all accrued but unpaid interest, fees and Expenses related to such prepaid Loan. Borrower agrees that this fee is an estimate of Lender's damages and not a penalty.
Sample 1Sample 2Sample 3
LIBOR Based Rate Loans. LIBOR Based Rate Loans shall be selected for a period of either one (1), two (2), or three (3) months' duration, as Borrower may elect, during which a LIBOR Based Rate is applicable ("LIBOR Interest Period"); provided, however, that (a) if the LIBOR Interest Period would otherwise end on a day which shall not be a Good Business Day, such LIBOR Interest Period shall be extended to the next succeeding Good Business Day, unless such Good Business Day falls in another calendar month, in which case such LIBOR Interest Period shall end on the next preceding Good Business Day subject to clause (c) below; (b) interest shall accrue from and including the first day of each LIBOR Interest Period to, but excluding, the day on which any LIBOR Interest Period expires; and (c) with respect to any LIBOR Interest Period which begins on the last Good Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such LIBOR Interest Period), the LIBOR Interest Period shall end on the last Good Business Day of a calendar month. All accrued and unpaid interest on a LIBOR Based Rate Loan must be paid in full on the day the applicable LIBOR Interest Period expires. No LIBOR Interest Period may end after the Maturity Date. Subject to all of the terms and conditions applicable to a request that a new Advance be a LIBOR Based Rate Loan, Borrower may extend LIBOR Based Rate Loans as of the last day of the applicable LIBOR Interest Period to a new LIBOR Based Rate Loan. If Borrower does not notify Agent of its desire to extend a LIBOR Based Rate Loan or repay such Advance prior to the expiration of the applicable LIBOR Interest Period, such Advance shall automatically be converted to a LIBOR Market Index Rate Loan.
Sample 1Sample 2
LIBOR Based Rate Loans. Subject to the terms of the Agent Fee Letter, apart from the provisions of Section 2.5(c) above, if applicable, no portion of any LIBOR Based Rate Loan may be prepaid at any time unless Borrower first satisfies in full its obligations under Section 2.8 below arising from such prepayment.
Sample 1

Related to LIBOR Based Rate Loans

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

  • LIBOR Loans Subject to the provisions hereof and provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.2, requested the Lenders to continue to extend credit by way of a LIBOR Loan to replace all or a portion of an outstanding LIBOR Loan as it matures, each Lender shall, on the maturity of such LIBOR Loan, continue to extend credit to the Borrower by way of a LIBOR Loan (without a further advance of funds to the Borrower) in the principal amount equal to such Lender’s Pro Rata Share of the principal amount of the matured LIBOR Loan or the portion thereof to be replaced.

  • Prime Rate Loans During such periods as Revolving Loans shall be comprised of Prime Rate Loans, each such Prime Rate Loan shall bear interest at a per annum rate equal to the sum of the Prime Rate;

  • 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.

  • LIBOR Advances The interest rate applicable to each LIBOR Advance shall be determined in accordance with Section 3.6(a) hereunder. Subject to Sections 3.6 and 3.7, such rate shall apply during the entire Interest Period applicable to such LIBOR Advance, and interest calculated thereon shall be payable on the Interest Payment Date applicable to such LIBOR Advance.

  • Eurocurrency Rate Advances During such periods as such Advance is a Eurocurrency Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurocurrency Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurocurrency Rate Advance shall be Converted or paid in full.

  • Eurodollar Rate Loans Any conversion to or from Eurodollar Rate Loans shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of all Eurodollar Rate Loans having the same Interest Period shall not be less than $1,000,000 or a whole multiple of $500,000 in excess thereof.

  • Eurodollar Loans The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin, but in no event to exceed the Highest Lawful Rate.

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

Time is Money Join Law Insider Premium to draft better contracts faster.