LIBOR Balance definition

LIBOR Balance means any principal balance of this Note which, pursuant to an Interest Notice, bears interest at a rate based upon the Adjusted LIBOR Rate for the Interest Period specified in such Interest Notice.

LIBOR Balance means the principal balance of this Note, which, pursuant to an Interest Notice, bears interest at the Adjusted LIBOR Rate.

LIBOR Balance means any portion of the Revolving Loan that bears interest at a rate based upon the Libor Rate.

Examples of LIBOR Balance in a sentence

• The unpaid principal of each LIBOR Balance shall bear interest at a rate per annum which shall from day to day be equal to the lessor of (i) the Adjusted LIBOR Rate for the Interest Period in effect with respect to such LIBOR Balance, or (ii) the Maximum Rate.

• For senior students who are candidates for graduation the counselor will meet with the student before the end of the first semester of the senior year.

• During any period in which any portion of the principal hereof bears interest at a rate based upon the Adjusted Base Rate, Borrower shall have the right, on any Business Day (the "CONVERSION DATE"), to convert all or a portion of such principal amount from the Base Rate Balance to a LIBOR Balance by giving Bank an Interest Notice of such selection on or before such Conversion Date.

• Bank shall forthwith give notice thereof to Borrower, whereupon until Bank notifies Borrower that the circumstances giving rise to such suspension no longer exist, (i) the right of Borrower to select an Interest Option based upon the LIBOR Rate shall be suspended, and (ii) Borrower shall be deemed to have converted each LIBOR Balance to the Base Rate Balance in accordance with the provisions hereof on the last day of the then-current Interest Period applicable to such LIBOR Balance.

• Upon receipt of such notice, Borrower shall be deemed to have converted any LIBOR Balance to the Base Rate Balance, on either (i) the last day of the then-current Interest Period applicable to such LIBOR Balance if Bank may lawfully continue to maintain and fund such LIBOR Balance to such day, or (ii) immediately, if Bank may not lawfully continue to maintain such LIBOR Balance to such day.

More Definitions of LIBOR Balance

LIBOR Balance means any principal balance of this Amended Note which, pursuant to an Interest Notice, bears interest at a rate based upon the Adjusted LIBOR Rate for the Interest Period specified in such Interest Notice.

LIBOR Balance means any portion of the Facility Balance that bears interest at rates based upon the LIBOR Rate (subject to adjustment as provided herein) pursuant to the terms of this Agreement.

LIBOR Balance means a balance bearing interest at the LIBOR Option.

LIBOR Balance means any principal balance of this Note which, pursuant to an Interest Notice, bears interest at a rate

LIBOR Balance. Base Rate Balance," "Interest Option," "Interest Period," "Business Day," and "Dollars," are defined in the New Notes; and reference is made to the New Notes for the options of Borrowers and rights of Lender with respect to interest.

LIBOR Balance shall have the respective meaning as it is defined for each facility under Section 2, hereof.

LIBOR Balance. A fixed rate quoted by the Bank for one week, 1, ------------- 2, 3, or 6 months or for such other period of time that the Bank may quote and offer (provided that any such period of time does not extend beyond the Expiration Date) (the "LIBOR Interest Period") for the entire amount of the Term Loan. Such interest rate shall be a percentage equal to the Term Applicable Margin plus the Bank's LIBOR Rate which is that rate determined by the Bank's Treasury Desk as being the arithmetic mean (rounded upwards, if necessary, to the nearest whole multiple of one-sixteenth of one percent (1/16%)) of the U. S. dollar London Interbank Offered Rates for such period appearing on page 3750 (or such other page as may replace page 3750 of the Telerate screen at or about 11:00 a.m. (London time) on the second Business Day prior to the first days of such period (adjusted for any and all assessments, surcharges and reserve requirements) (the "LIBOR Rate"). The Term Loan based upon the LIBOR Rate is hereinafter referred to as a "LIBOR Balance".