Examples of Fixed LIBOR Rate Loan in a sentence
Subject to the provisions and limitations of this Agreement, the Borrower may select different Options to apply simultaneously to different Revolving Credit Loans and may select different Funding Periods to apply simultaneously to different parts of each Fixed LIBOR Rate Loan.
If any payment on a Fixed LIBOR Rate Loan becomes due and payable on a day other than a London Business Day, the maturity thereof shall be extended to the next succeeding London Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding London Business Day.
The total aggregate amount of the Exercise Proceeds has been applied to the prepayment of the 2019 Note whereby US$1,263,885 has been applied to the remaining US$7,886,659 principal of the 2019 Note, US$25,278 has been paid as a prepayment penalty pursuant to the terms of the 2019 Note and US$30,472 has been paid in accrued interest.
If Borrower shall make more than three (3) interest rate selections in any thirty (30) day period, excluding conversions of outstanding Loans made at the end of an applicable Interest Period of any previously outstanding Fixed LIBOR Rate Loan, Administrative Agent may impose and Borrower shall pay a reasonable processing fee for each such additional selection.
If the date upon which a Fixed LIBOR Rate Loan is to be converted to a Floating LIBOR Rate Loan is not a Business Day, then such conversion shall be made on the next succeeding Business Day and during the period from such last day of an Interest Period to such succeeding Business Day such Loan shall bear interest as if it were an Floating LIBOR Rate Loan.
If the Borrower shall fail to specify in any such Notice of Borrowing (I) an applicable Interest Period in the case of a Fixed LIBOR Rate Loan, then such notice shall be deemed to be a request for an Interest Period of one month, or (II) the type of Revolving Loan requested, then such notice shall be deemed to be a request for an Floating LIBOR Rate Loan hereunder.
Whenever any payment or action to be made or taken hereunder or under any other Loan Document shall be stated to be due on a day which is not a Business Day (or a London Business Day with respect to a Fixed LIBOR Rate Loan), such payment or action shall be made or taken on the next following Business Day (or the next following London Business Day, as the case may be) and such extension of time shall be included in computing interest or fees, if any, in connection with such payment or action.
Absent due notice from the Borrower of conversion or renewal in the circumstances described in SECTION 2.10(a) hereof, any part of the Fixed LIBOR Rate Loan for which such notice is not received shall be converted automatically to the Floating Rate Option on the last day of the expiring Funding Period.
A form of Notice of Conversion is attached as Schedule 2.8. If the date upon which a Floating LIBOR Rate Loan is to be converted to a Fixed LIBOR Rate Loan is not a Business Day, then such conversion shall be made on the next succeeding Business Day.
Administrative Agent shall give written notice to each Lender of each request for a conversion of an existing Loan from a Variable Rate Loan to a Fixed LIBOR Rate Loan, by facsimile transmission, hand delivery or overnight courier, not later than 11:00 a.m. (Charlotte, North Carolina time) (i) two (2) Business Days prior to any Fixed LIBOR Rate Loan or conversion to a Fixed LIBOR Rate Loan, or (ii) one (1) Business Day prior to any Variable Rate Loan.