LIBOR Margin Bid definition
Examples of LIBOR Margin Bid in a sentence
If a LIBOR Margin Bid is requested, the maturity date shall be one of the Interest Periods, and any such advance shall be a LIBOR Rate Loan.
If a LIBOR Margin Bid is requested, the maturity date shall be one of the Interest Periods, and any such advance shall be a LIBOR Loan.
If any Bid Borrowing is to consist of LIBOR Margin Bid Loans, Administrative Agent shall determine the LIBOR Base Rate for the relevant Interest Period, and promptly after making such determination, shall notify Borrower and the Lenders that will be participating in such Bid Borrowing of such LIBOR Base Rate.
Not later than 12:30 p.m. (i) on the requested date of any Bid Borrowing that is to consist of Absolute Rate Bid Loans, and (ii) three Business Days prior to the requested date of any Bid Borrowing that is to consist of LIBOR Margin Bid Loans, Borrower shall notify Administrative Agent of its acceptance or rejection of the offers notified to it pursuant to Section 2.18.4. Borrower shall be under no obligation to accept any Competitive Bid and may choose to reject all Competitive Bids.
Not later than 12:00 p.m. on the requested date of any Bid Borrowing that is to consist of Absolute Rate Bid Loans, or three Business Days prior to the requested date of any Bid Borrowing that is to consist of LIBOR Margin Bid Loans, Administrative Agent shall notify Borrower of the identity of each Lender that has submitted a Competitive Bid that complies with Section 2.18.3 and of the terms of the offers contained in each such Competitive Bid.
Collectively, the Revolving Credit LIBOR Rate Loans, the Term LIBOR Rate Loans and any Bid Loans made pursuant to a LIBOR Margin Bid.
Each Competitive Bid shall be submitted to the Administrative Agent not later than 7:30 a.m. (or, in the case of the Revolving Lender which is also the Administrative Agent, not later than 7:15 a.m.) Las Vegas time, in the case of a LIBOR Margin Bid, on the date which is three Business Days prior to the requested Competitive Advance and, in the case of an Absolute Rate Bid, on the date of the requested Competitive Advance.
Competitive Revolving Loans may be comprised of Fixed LIBOR Margin Bid Loans and Absolute Rate Loans, or a combination thereof, as the applicable Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof.
Borrower may request the submission of Competitive Bids by delivering a Bid Request to Administrative Agent not later than 1:00 p.m., (a) one Business Day prior to the requested date of any Bid Borrowing that is to consist of Absolute Rate Bid Loans, or (b) four Business Days prior to the requested date of any Bid Borrowing that is to consist of LIBOR Margin Bid Loans.
The Competitive Bid Request must be received by the Administrative Agent not later than 9:00 a.m., Los Angeles time, on a Business Day that is at least one Business Day prior to the date of the proposed Competitive Advance if an Absolute Rate Bid is requested; if a LIBOR Margin Bid is requested, it must be received by the Administrative Agent five Business Days prior to the date of the proposed Competitive Advance.