CB Floating Rate Loan definition

CB Floating Rate Loan means any or all of the Revolving Credit Loans bearing interest based upon the CB Floating Rate.
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CB Floating Rate Loan or “CBFR Loan” means any Loan bearing interest at the CB Floating Rate.
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Examples of CB Floating Rate Loan in a sentence

  • Each CB Floating Rate Loan shall be in a minimum principal amount of $500,000 and in increments of $100,000.

  • Except for borrowings which utilize the full remaining amount of the Revolving Credit Commitment, each borrowing of a CB Floating Rate Loan shall be in an amount not less than $250,000 or, if greater, whole multiples of $100,000 in excess thereof.

  • Each partial prepayment of a CB Floating Rate Loan pursuant to this Section 3.03 shall be in a principal amount of $250,000 or whole multiples of $100,000 in excess thereof.

  • Applicable Margin means 0.0% per annum with respect to any CB Floating Rate Loan and 0.87% per annum with respect to any LIBOR Loan.

  • If such Eurocurrency Loan is denominated in any Alternative Currency, it shall be exchanged into its US Dollar Equivalent amount and be converted into a CB Floating Rate Loan.

  • In the case of a CB Floating Rate Loan, Borrower shall give Bank telephonic notice (immediately confirmed in writing) of each Revolving Credit Loan by 11:00 a.m. on the day of making such CB Floating Rate Loan.

  • Borrower shall pay interest to Bank on the outstanding and unpaid principal amount of the Revolving Credit Loans at a rate per annum as follows (1) for a CB Floating Rate Loan at a rate equal to the CB Floating Rate, and (2) for a LIBOR Loan at a rate equal to the Adjusted LIBOR Rate plus the Applicable Margin.

  • If Borrower fails to give Bank the notice specified above for the renewal or conversion of a LIBOR Loan prior to the end of the Interest Period of such LIBOR Loan, such LIBOR Loan shall automatically be converted into a CB Floating Rate Loan on the last day of the Interest Period for such LIBOR Loan.

  • In the case of a CB Floating Rate Loan, Borrower may, upon at least one (1) Business Day prior written notice (effective upon receipt) to Bank, prepay the Revolving Credit Loans in whole or in part with accrued interest to the date of such prepayment on the amount prepaid, provided that each partial prepayment shall be in a principal amount of not less than $100,000.

  • Until the Lender notifies each of the Companies that the circumstances giving rise to the suspension described herein no longer exist, each of the Companies shall not have the right to request or continue an Adjusted Libor Loan or to convert a CB Floating Rate Loan or a Quoted Rate Loan to a Adjusted Libor Loan.