LIBOR Rate Election definition

LIBOR Rate Election means an election by Borrower of an applicable LIBOR Rate in accordance with this Note.

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LIBOR Rate Election means an election by Borrower of an applicable LIBOR Rate in accordance with this Agreement.

LIBOR Rate Election means the election by the Company of the LIBOR Rate. If by reason of an Event of Default, the Bank elects to declare the Notes to be immediately due and payable, then any yield maintenance fee with respect to a LIBOR Loan shall become due and payable in the same manner as though the Company had exercised such right of prepayment.

Examples of LIBOR Rate Election in a sentence

The resulting amount shall be divided by 360 and multiplied by the number of days remaining in the term chosen pursuant to the LIBOR Rate Election as to which the prepayment is made.
Said amount shall be reduced to present value calculated by using the above referenced United States Treasury securities rate and the number of days remaining in the term chosen pursuant to the LIBOR Rate Election as to which prepayment is made.
If, for any reason, an effective election is not made in accordance with the terms and conditions hereof for any principal advance or for any LIBOR Rate Principal for which the corresponding Interest Period is expiring, or to convert Base Rate Principal to LIBOR Rate Principal, then the sums in question will be Base Rate Principal until an effective LIBOR Rate Election is thereafter made for such sums.
If, for any reason, an effective election is not made in accordance with the terms and conditions of this Note for any principal advance or for any LIBOR Rate Principal for which the corresponding Interest Period is expiring, or to convert Base Rate Principal to LIBOR Rate Principal, then the sums in question will be Base Rate Principal until an effective LIBOR Rate Election is thereafter made for such sums.
Each reference in this paragraph to "LIBOR Rate Election" shall mean the election by the Borrower of the LIBOR Rate.

More Definitions of LIBOR Rate Election

LIBOR Rate Election means the election by the Company of the LIBOR Rate.

LIBOR Rate Election means any oral ------------------- (including, but not limited to, telephonic), written or other (including, but not limited to, facsimile) election to have the interest charged for any period on a portion of the aggregate outstanding principal amounts of all Loans determined by reference to the Libor Rate for such period.

LIBOR Rate Election means an election by Borr▇▇▇▇, ▇▇ hereinafter provided, to cause a portion of the previously advanced proceeds of the Loan to be segregated into a separate account and bear interest at the Libor Rate, rather than the Stated Rate for the term of the Election.

LIBOR Rate Election means the notice given by the Company in accordance with Section 2.01(b) hereof wherein the Company selects or continues a LIBOR Rate Loan or converts a Prime Rate Loan or a CD Rate Loan to a LIBOR Rate Loan.

LIBOR Rate Election. As defined in Section 5.1(c).

LIBOR Rate Election. FEE shall mean the fee payable to CITBC in accordance with, and pursuant to, the provisions of Section 9, paragraph 14 of this Financing Agreement. LOAN DOCUMENTS shall mean each of this Financing Agreement, the Revolving Loans Promissory Note, the Term Loan Promissory Note, the Mortgages, the Intercreditor Agreement, the Letters of Credit, the Trademark Security Agreement, the Patent Security Agreement, and the copyright security agreement, if any, requested pursuant to Section 8 paragraph 1 of this Financing Agreement. MANDATORY PREPAYMENT shall mean the amount by which the Borrower must prepay the Revolving Loans immediately upon demand as provided in Section 3, paragraph 1(b) or (d) of this Financing Agreement.

LIBOR Rate Election means the meaning set forth in Section 2.01(b) hereof.