Reference Rate Borrowings Clause Samples
The Reference Rate Borrowings clause defines the terms under which a borrower may take out loans that are tied to a specified reference interest rate, such as LIBOR or SOFR. This clause typically outlines how the applicable rate is determined, how interest accrues, and any adjustments that may be made if the reference rate changes or becomes unavailable. By establishing clear rules for calculating interest on these borrowings, the clause ensures predictability for both lender and borrower and addresses potential issues arising from fluctuations or discontinuation of standard reference rates.
Reference Rate Borrowings. All Loans shall at all times ------------------------- constitute Reference Rate Borrowings unless properly designated or redesignated as LIBOR Borrowings pursuant to Sections 3.3. or 3.
Reference Rate Borrowings. All Loans shall at all times constitute Reference Rate Borrowings unless properly designated or redesignated as Eurodollar Borrowings pursuant to Sections 3.3 or 3.
Reference Rate Borrowings. All Loans shall at all times ------------------------- constitute Reference Rate Borrowings unless properly designated or redesignated as ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ pursuant to Sections 3.3 or 3.4. Each request by the Company ------------ --- for a new Reference Rate Borrowing (except for Swing Line Advances) shall be made pursuant to a Request for Borrowing received by the Agent, at the Agent's office, not later than 9:00 a.m. California time, at least one Banking Day prior to the date the Reference Rate Borrowing is to be funded to the Company. The Agent will notify each Bank of its receipt of a Request for Borrowing in accordance with Section 3.1(f). --------------
Reference Rate Borrowings. All Loans shall at all times constitute Reference Rate Borrowings unless properly designated or redesignated as LIBOR Borrowings pursuant to SECTIONS 3.3. OR 3.4 and all Swing Line Advances shall constitute Reference Rate Borrowings. Each request by the Company for a new Reference Rate Borrowing (except for Swing Line Advances) shall be made pursuant to a Request for Borrowing received by the Agent, at the Agent's office, not later than 10:00 a.m. Honolulu, Hawaii time, at least one Banking Day prior to the date the Reference Rate Borrowing is to be funded to the Company. The Agent will notify each Bank of its receipt of a Request for Borrowing in accordance with SECTION 3.1(f).
Reference Rate Borrowings. 22 3.3 Eurodollar Borrowing ........................................... 23 3.4
Reference Rate Borrowings. All Loans shall at all times constitute Reference Rate Borrowings unless properly designated or redesignated as LIBOR Borrowings pursuant to SECTIONS 3.3. OR 3.4. Each request by the Company for a new Reference Rate Borrowing shall be made pursuant to a Request for Borrowing, executed by a Designated Responsible Official, received by the Agent, at the Agent's office, not later than 9:00 a.m., California time, at least one (1) Banking Day prior to the date the Reference Rate Borrowing is to be funded to the Company. The Agent will notify each Bank of its receipt of a Request for Borrowing in accordance with SECTION 3.1(f).
Reference Rate Borrowings. All Loans shall at all times ------------------------- constitute Reference Rate Borrowings unless properly designated or redesignated as IBOR Borrowings pursuant to Sections 3.3. or 3.4. --------------------
Reference Rate Borrowings. All Loans shall at all times constitute Reference Rate Borrowings unless properly designated or redesignated as Eurodollar Borrowings pursuant to Sections 3.3 or 3.4. Each request by Borrower for a new Reference Rate Borrowing (except for Swing Line Advances) shall be made pursuant to a Request for Borrowing received by Administrative Agent, at Administrative Agent's Lending Office, not later than 11:00 a.m. at least one (1) Business Day prior to the date the Reference Rate Borrowing is to be funded to Borrower. Administrative Agent will notify each Lender of its receipt of a Request for Borrowing in accordance with Section 3.1(f).