Request for LIBOR Rate Loans Sample Clauses

The "Request for LIBOR Rate Loans" clause defines the process by which a borrower may request loans that bear interest at a rate based on the London Interbank Offered Rate (LIBOR). Typically, this clause outlines the required notice period, the information the borrower must provide (such as the amount and desired interest period), and any limitations on the frequency or amount of such requests. Its core function is to establish a clear and orderly procedure for initiating LIBOR-based loans, ensuring both parties understand the steps and requirements involved, thereby reducing confusion and potential disputes.
Request for LIBOR Rate Loans. In making any Request for a Loan, Borrower shall specify the aggregate amount of such Loan and the Draw Date; provided, however, if a Request is received by the Bank after 2:00 p.m. (Eastern Standard Time) on any given day, the earliest possible Draw Date will be the next New York Business Day.
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Request for LIBOR Rate Loans. Borrower shall give the Bank its irrevocable Request for a LIBOR Rate Loan specifying: i. the Draw Date for the LIBOR Rate Loan, which shall be a two (2) Business Days from the date the Request: provided, however if a Request is received by the Bank after 2:00 p.m. (Eastern Standard Time), the Request for the LIBOR Rate Loan shall be deemed to have been received on the next Business Day; ii. the aggregate amount of such LIBOR Rate Loan, which amount shall not be less than the Minimum Borrowing Amount; and iii. the applicable Interest Period (i.e., 1, 2, 3 or 6 month Interest Period). iv. whether Borrower is electing to have the Automatic Continuation Option for such LIBOR Rate Loan.
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Request for LIBOR Rate Loans. Borrower shall give the Bank its irrevocable Request for each LIBOR Rate Loan specifying: i. the Draw Date for the LIBOR Rate Loan, which shall be at least two (2) Joint Business Days following the date of the Request; provided, however, if a Request is received by the Bank after 2:00 p.m. (Eastern Standard Time), the Request for such LIBOR Rate Loan shall be deemed to have been received on the next New York Business Day; ii. the aggregate amount of such LIBOR Rate Loan, which amount shall not be less than the Minimum Borrowing Amount; iii. the applicable LIBOR Rate selection and corresponding Interest Period duration (see LIBOR Rate definition above); and iv. whether the Automatic Continuation Option will be in effect for such LIBOR Rate Loan. The Automatic Continuation Option shall be in effect for each LIBOR Rate Loan, unless otherwise specified by Borrower in writing.
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Request for LIBOR Rate Loans. Borrower shall give the Bank its irrevocable Request for each LIBOR Rate Loan specifying: i. the Draw Date for the LIBOR Rate Loan, which shall be at least two (2) Joint Business Days following the date of the Request; ii. the aggregate amount of such LIBOR Rate Loan, which amount shall not be less than the Minimum Borrowing Amount; iii. the applicable LIBOR Rate selection and corresponding Interest Period duration (see LIBOR Rate definition above); and iv. whether the Automatic Continuation Option will be in effect for such LIBOR Rate Loan. The Automatic Continuation Option shall be in effect for each LIBOR Rate Loan, unless otherwise specified by Borrower in writing.
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Request for LIBOR Rate Loans. Borrower shall give the Bank its irrevocable Request for a LIBOR Rate Loan specifying: (i) the Draw Date for the LIBOR Rate Loan, which shall be a two (2) Business Days from the date of the Request (except in the case of a LIBOR Rate Loan with an Interest Period of one day, for which the Draw Date may be the same as the date of the Request); provided, however, if a Request is received by the Bank after 2:00 p.m. (Eastern Standard Time), the Request for such LIBOR Rate Loan shall be deemed to have been received on the next Business Day; (ii) the aggregate amount of such LIBOR Rate Loan, which amount shall not be less than the Minimum Borrowing Amount; (iii) the applicable Interest Period (i.e., a one-day, one-month, two-month, three-month, or six-month Interest Period); and (iv) whether Borrower is electing to have the Automatic Continuation Option for such LIBOR Rate Loan.
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Related to Request for LIBOR Rate Loans

  • Booking of Eurodollar Rate Loans Any Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

  • 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.

  • 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.

  • 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.

  • Eurodollar Rate Advances During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurodollar 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 Eurodollar Rate Advance shall be Converted or paid in full.