Examples of Adjusted One Month LIBOR Rate in a sentence
Such funds shall continue to bear interest at the Adjusted One Month LIBOR Rate until fully repaid by the Company.
As used herein, "Adjusted One Month LIBOR Rate" shall mean an annual rate equal to two and one-half percent (2.50%) plus the greater of: (a) the One-Month LIBOR Rate, or (b) one and one-half percent (1.50%).
In the event that the Bank pays any sum (a "LC Draw Amount") drawn by the beneficiary of an outstanding Letter of Credit (a "LC Draw"), interest shall immediately start to accrue on the LC Draw Amount at the Adjusted One Month LIBOR Rate (hereinafter defined), and such interest shall continue to accrue until reimbursement in full to the Bank.
Any change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including the effective date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively.
LIBOR Rate Advance" shall mean any amount owed by Borrower under the Note that bears interest at a rate calculated with reference to either the Adjusted One Month LIBOR Rate, the Adjusted Two Month LIBOR Rate or the Adjusted Three Month LIBOR Rate.