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.
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If the CB Floating Rate is selected then the applicable rate of interest on the Revolving Credit Loan will be the higher of (1) the Prime Rate, or (2) the Adjusted One Month LIBOR Rate.