LIBOR Plus Rate definition

LIBOR Plus Rate means in the case of the Eurodollar Loans, the Adjusted LIBOR Rate, plus the Applicable Libor Addition.
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LIBOR Plus Rate means the sum of the Margin plus the applicable London Interbank Offered Rate for the applicable Interest Period.
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LIBOR Plus Rate means, on any date, an interest rate equal to the sum of (i) the average (rounded to the nearest 1/16th of one-percent) of the London Interbank Offered Rates for three-month United States dollar denominated deposits, as published in the Wall Street Journal on such date and (ii) 500 basis points, but in no event greater than the maximum rate then permitted under applicable law.
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Examples of LIBOR Plus Rate in a sentence

  • If at any time subsequent to the giving of such notice by Lender, Lender determines that because of a change in circumstances the LIBOR Plus Rate is again available to Borrower, Lender will so advise Borrower and Borrower may convert the rate of interest payable from the Base Rate to the LIBOR Plus Rate by giving Lender reasonable advance written notice of its election to do so, as well as the date such conversion is to become effective.

  • Lender shall advise Borrower of a change in circumstances resulting in the LIBOR Plus Rate again being available to Borrower and Borrower may convert the rate of interest payable on the Loan from the Base Rate to the LIBOR Plus Rate by giving Lender reasonable advance written notice of its election to do so, as well as the date such conversion is to become effective, and the LIBOR Plus Rate shall apply thereafter until the termination of the Interest Period.

  • If such notice is given by Lender, Lender shall have no obligation to apply the LIBOR Plus Rate until such notice is withdrawn and the Base Rate shall be the Applicable Rate.

  • If such notice is given, the outstanding principal balance of the Loans shall commence to bear interest at a floating rate of interest determined with reference to the Base Rate, plus or minus a margin determined by Lenders, so as to most closely approximate the LIBOR Plus Rate in effect immediately prior to such termination.

  • The unpaid principal amount of each Eurodollar Loan shall bear interest at the LIBOR Plus Rate applicable to each such Eurodollar Loan in effect for each LIBOR Interest Period.

  • Borrower shall have the right to convert the rate of interest payable during a LIBOR Interest Period from the Base Rate back to a LIBOR Plus Rate at any time (provided such rate is otherwise available pursuant to the terms and conditions hereof) by giving Lender reasonable advanced written notice of such election, as well as the date such conversion is to become effective.

  • Until such notice has been withdrawn by Agent, the LIBOR Plus Rate shall be unavailable to Borrower.

Related to LIBOR Plus Rate

  • LIBOR Rate means a rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%) determined by the Administrative Agent pursuant to the following formula: LIBOR Rate = LIBOR

  • EURIBOR Rate has the meaning specified in the definition of “Eurocurrency Rate”.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.