LIBOR Loan Clause Samples
A LIBOR Loan clause defines the terms under which a loan's interest rate is calculated based on the London Interbank Offered Rate (LIBOR). This clause typically specifies how the applicable LIBOR rate is determined for each interest period, outlines the frequency of rate adjustments, and may address what happens if LIBOR becomes unavailable or is replaced. By establishing a clear method for setting interest rates tied to a widely recognized benchmark, the clause ensures transparency and predictability for both lenders and borrowers regarding interest payments.
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LIBOR Loan. If Borrower fails to timely deliver a Selection Notice, then such Advance under the Revolving Loan will bear interest at the Prime Rate and will be a Base Rate Loan.
LIBOR Loan. Any Loan bearing interest at a rate determined with reference to the LIBOR Rate.
LIBOR Loan. Any Revolving Credit Loan or portion of the Term Loan bearing interest at a rate determined with reference to the LIBOR Rate.
LIBOR Loan. When a LIBOR Loan is selected, such interest rate shall be fixed for each Interest Period for which it is determined and shall apply for that Loan until another interest rate option is selected by Borrowers' Representative for that Loan.
LIBOR Loan. Each Loan that is a LIBOR Loan shall bear interest at a fluctuating per annum rate equal to the Adjusted LIBOR Interest Rate for the applicable Interest Period, as quotes are available, increased by the applicable LIBOR Margin set forth below. Any changes to the LIBOR Margin shall not apply to LIBOR Loans outstanding or requested on the date the LIBOR Margin is adjusted.
LIBOR Loan. The following LIBOR Loan: (there must not, after giving effect to the requested Loan, be more than five (5) different LIBOR Loans in effect) Amount: $ Requested Borrowing Date: (must be a Business Day at least three (3) Business Days after date of notice) Interest Period: (1,2,3, or 6 months) EXHIBIT B TO ACQUISITION SUB CREDIT AGREEMENT FORM OF PROMISSORY NOTE May ___, 1997 $[3] [2] FOR VALUE RECEIVED, AIMCO/NHP Holdings, Inc., a Delaware corporation (the "Company"), promises to pay to the order of [4] ("Lender") the principal amount of [5] ($ [3] ) or, if less, the aggregate amount of Loans (as such term and all other capitalized terms used but not defined herein are defined in the Credit Agreement referred to below) made by the Lender to the Company pursuant to the Credit Agreement referred to below, outstanding on the Maturity Date. The Company also promises to make principal payments and interest on the unpaid principal amount hereof from the date hereof until paid at the rates and at the times which shall be determined in accordance with the provisions of the Credit Agreement. All payments of principal and interest in respect of this Note shall be made in lawful money of the United States of America in same day funds at the Payment Office. Until notified of the transfer of this Note, the Company shall be entitled to deem the Lender or such person who has been so identified by the transferor in writing to the Company as the holder of this Note, as the owner and holder of this Note. The Lender and any subsequent holder of this Note agrees that before disposing of this Note, or any part hereof, it will make a notation hereon of all principal payments previously made hereunder of the date to which interest hereon has been paid on the schedule attached hereto, if any; PROVIDED, HOWEVER, that the failure to make notation of any payment made on this Note shall not limit or otherwise affect the obligation of the Company hereunder with respect to payments of principal or interest on this Note. This Note is referred to in, and is entitled to the benefits of, the Credit Agreement dated as of May 5, 1997 (the "CREDIT AGREEMENT") among the Company, the lenders from time to time party thereto, and Bank of America National Trust and Savings Association, as Agent (the "Agent"). The Credit Agreement, among other things, (i) provides for the making of loans (the "LOANS") by the Lender to the Company from time to time in an aggregate amount first above mentioned, the i...
LIBOR Loan. Any Revolving Credit Loan bearing interest at a rate ---------- determined with reference to the LIBOR Rate. LIBOR Rate. With respect to any LIBOR Loan for any Interest Period, the ---------- rate of interest determined by the Lender to be the prevailing rate per annum at which deposits in U.S. Dollars are offered to the Lender by first-class banks in the interbank LIBOR market in which it regularly participates on or about 10:00 a.m. (Boston time) two Business Days before the first day of such Interest Period in an amount approximately equal to the principal amount of the LIBOR Loan to which such Interest Period is to apply for a period of time approximately equal to such Interest Period.
LIBOR Loan. Provided that as of both the date of the LIBOR Request and the first day of the Interest Period, no Default or Event of Default exists, in the event U.S. Borrower desires to obtain a LIBOR Loan, U.S. Borrower shall give Administrative Agent a LIBOR Request no later than 11:00 a.m. (Chicago time) on the third Business Day prior to the requested borrowing date. Each LIBOR Request shall be irrevocable and binding on U.S. Borrower. In no event shall U.S. Borrower be permitted to have outstanding at any one time LIBOR Loans with more than six (6) different Interest Periods.
LIBOR Loan. 18 Lien . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
LIBOR Loan. 11 Licenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Lien . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11