Examples of LIBOR Floating Rate Loan in a sentence
In a project with deep borehole heat pumps for the provision of heat energy in private homes, the production, transmission and distribution of heat energy isn’t possible to regulate, as the installed capacity is 40 kW and the amount of heat energy transferred is 128 MWh/year.
If the Company shall fail to select the Type for any Conversion of Eurocurrency Rate Loans denominated in Dollar to another Type, the Administrative Agent will forthwith so notify the Company and the Lenders, whereupon each such Eurocurrency Rate Loan denominated in Dollars will automatically, on the last day of the then existing Interest Period therefor Convert into a LIBOR Floating Rate Loan.
If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Revolving Loan Notice, but fails to specify an Interest Period, it will be deemed to have requested a LIBOR Floating Rate Loan.
If such Loan is a LIBOR Floating Rate Loan, a rate per annum equal at all times to the LIBOR Daily Floating Rate in effect from time to time plus the Applicable Margin, payable on each Quarterly Date while such LIBOR Floating Rate Loan is outstanding and on the date such LIBOR Floating Rate Loan shall be paid in full and on the Termination Date of such Lender.
As to any Base Rate Loan, LIBOR Floating Rate Loan and Alternative Currency Daily Rate Loan, the last day of any calendar month in which such Loan is outstanding and the Maturity Date of the Facility under which such Loan was made.
Each Borrowing of, conversion to or continuation of a LIBOR Floating Rate Loan shall be in a principal amount of $500,000 or a whole multiple of $50,000 in excess thereof.
Upon receipt of such notice, the Borrowers may revoke any pending request for a borrowing of or conversion to a LIBOR Floating Rate Loan or, failing that, will be deemed to have converted such request into a request for a borrowing of Base Rate Loans in the amount specified therein.
Any Borrower may, upon notice to the Lender, at any time or from time to time voluntarily prepay any Loan in whole or in part without premium or penalty; provided that (i) such notice must be received by the Lender not later than 1:00 p.m. on the date of prepayment of a Base Rate Loan; and (ii) any prepayment of a LIBOR Floating Rate Loan shall be in a principal amount of $100,000 or a whole multiple of $50,000 in excess thereof or, if less, the entire principal amount thereof then outstanding.
A Loan may be a Base Rate Loan or a LIBOR Floating Rate Loan, as further provided herein.
All or any part of the outstanding Revolving Credit Loans and Incremental Term Loans of any Type may be converted as provided herein, provided that each Conversion Request relating to the conversion of a Base Rate Loan or a LIBOR Floating Rate Loan to a Eurocurrency Rate Loan shall be for an amount equal to $2,000,000 or an integral multiple of $100,000 in excess thereof and shall be irrevocable by the Borrower.