LIBOR Contracts Sample Clauses

The LIBOR Contracts clause defines how agreements referencing the London Interbank Offered Rate (LIBOR) will be handled, particularly in light of LIBOR's discontinuation. It typically outlines the process for identifying a replacement benchmark rate, such as SOFR, and may specify how adjustments to interest calculations will be made to ensure continuity. This clause ensures that contracts remain enforceable and interest calculations remain clear and fair, even if LIBOR is no longer available, thereby preventing disputes and uncertainty over payment terms.
LIBOR Contracts. At no time may the number of outstanding LIBOR Advances hereunder exceed ten (10).
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LIBOR Contracts. At no time may the number of outstanding LIBOR Advances exceed six (6).
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LIBOR Contracts. At no time may the number of outstanding LIBOR Advances together with any outstanding Base Rate Advances exceed eight (8). For the purposes of this Section 2.3(e), all outstanding Base Rate Advances shall be deemed to be a single Base Rate Advance.
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LIBOR Contracts. At no time may the number of outstanding LIBOR Advances with respect to any tranche hereunder exceed four (4).
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LIBOR Contracts. At no time may the number of outstanding Eurocurrency Rate Loans hereunder exceed ten (10).
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LIBOR Contracts. At no time may the number of outstanding --------------- LIBOR Advances hereunder and under the ATS Facility B Loan Agreement exceed twelve (12).
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LIBOR Contracts. At no time may the number of outstanding LIBOR Rate --------------- Loans exceed five (5). For purposes of this Section 3.1(h), each Advance, Revolving Credit Loan or portion of a Revolving Credit Loan bearing interest at a rate based on LIBOR but with a different Interest Period shall be counted separately.
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Related to LIBOR Contracts

  • Additional Rest Periods When an employee performs authorized overtime work of at least three (3) hours duration, the Hospital will schedule a rest period of fifteen (15) minutes duration.

  • Duration of normal Interest Periods Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

  • Meal/Rest Periods All nurses shall receive an unpaid meal period of one-half (1/2) hour. Nurses required to remain on duty or in the Hospital during their meal period shall be compensated for such time at the appropriate rate of pay. All nurses shall receive one (1) fifteen

  • 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.

  • Interest Periods In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a), shall elect an interest period (each, an "Interest Period") to be applicable to such Loan, which Interest Period shall be a period of one (1), two (2), three (3) or six (6) months with respect to each LIBOR Rate Loan; provided that: (i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Rate Loan or and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the next preceding Interest Period expires; (ii) if any Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided, that if any Interest Period with respect to a LIBOR Rate Loan would otherwise expire on a day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; (iii) any Interest Period with respect to a LIBOR Rate Loan that begins on the last 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 Interest Period) shall end on the last Business Day of the relevant calendar month at the end of such Interest Period; (iv) no Interest Period shall be permitted to extend beyond the Termination Date; and (v) there shall be no more than five (5) Interest Periods outstanding at any time.