LIBOR Rate Interest Period definition

LIBOR Rate Interest Period means any applicable 30-Day LIBOR Rate Interest Period, 60-Day LIBOR Rate Interest Period, or 90-Day LIBOR Rate Interest Period.

LIBOR Rate Interest Period. With respect to each amount bearing interest at a LIBOR based rate, a period of one (1), two (2), three (3), or six (6) months, to the extent deposits with such maturities are available to Agent, commencing on a LIBOR Business Day, as selected by Borrower provided, however, that (i) any LIBOR Rate Interest Period which would otherwise end on a day which is not a LIBOR Business Day shall continue to and end on the next succeeding LIBOR Business Day, unless the result would be that such LIBOR Rate Interest Period would be extended to the next succeeding calendar month, in which case such LIBOR Rate Interest Period shall end on the next preceding LIBOR Business Day, (ii) any LIBOR Rate Interest Period which begins on a day for which there is no numerically corresponding date in the calendar month in which such LIBOR Rate Interest Period would otherwise end shall instead end on the last LIBOR Business Day of such calendar month, and (iii) Borrower may not select a LIBOR Rate Interest Period which would end after the Maturity Date..

LIBOR Rate Interest Period means, as to each LIBOR Rate Borrowing, a period of one month, two months or three months, as selected pursuant to a Notice of Borrowing or a Notice of Conversion/Continuation, commencing on the date of the borrowing (including continuations, conversions and extensions thereof); provided, however, (i) if any LIBOR Rate Interest Period would end on a day which is not a Business Day, such LIBOR Rate Interest Period shall be extended to the next succeeding Business Day (except that where the next succeeding Business Day falls in the next succeeding calendar month, then on the next preceding Business Day), (ii) no LIBOR Rate Interest Period shall extend beyond the maturity date of the applicable Loan, and (iii) any LIBOR Rate Interest Period with respect to a LIBOR Rate Borrowing that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such LIBOR Rate Interest Period) shall end on the last Business Day of the relevant calendar month at the end of such LIBOR Rate Interest Period.

Examples of LIBOR Rate Interest Period in a sentence

• If any LIBOR Rate Interest Period begins on a day of a calendar month for which there is no numerically corresponding day in the month in which such Interest Period is to end, the final month of such Interest Period shall be deemed to end on the last Business Day of such final month.

• During such periods as such Revolving Credit Advance is a Specified LIBOR Rate Advance, a rate per annum equal at all times during each Specified LIBOR Rate Interest Period to the Specified LIBOR Rate for such Specified LIBOR Rate Interest Period, payable in arrears on the last day of such Specified LIBOR Rate Interest Period and on the date such Specified LIBOR Rate Advance shall be paid in full.

• Following the expiration of any applicable LIBOR Rate Interest Period, if a Parent’s Representative shall not have timely and properly delivered a LIBOR Rate Notice for a LIBOR Rate Interest Period to commence as of the expiration of the applicable expiring LIBOR Rate Interest Period, then any Revolver Loan Advance shall bear interest at the Daily Adjusted LIBOR Rate thereafter until another notice is delivered with respect to the Interest Rate payable under the Revolver Loan.

• Each request shall specify the date of the advance of the Term Loan pursuant to Section 2.2a hereof or the date on which such conversion of an existing Interest Rate Option is to be made, the amount thereof and, if applicable, the LIBOR Rate Interest Period therefor.

• Notwithstanding the foregoing, during any period of time while interest is accruing hereunder based upon the LIBOR Rate Borrower may not prepay any portion of the outstanding principal balance prior to the expiration of the then current LIBOR Rate Interest Period.

More Definitions of LIBOR Rate Interest Period

LIBOR Rate Interest Period. With respect to each amount bearing interest at a LIBOR based rate, a period of one month, to the extent deposits with such maturity is available to the Lenders, commencing on a LIBOR Business Day provided, however, that each LIBOR Rate Interest Period shall end on the last LIBOR Adjustment Date occurring prior to the scheduled end of such LIBOR Rate Interest Period. Loan: As such term is defined in Recital I on page 1 of this Agreement.

LIBOR Rate Interest Period means one (1) month, provided that (i) if any LIBOR Rate Interest Period would otherwise expire on a day which is not a LIBOR Rate Bank Day, the LIBOR Rate Interest Period shall be extended to the next succeeding LIBOR Rate Bank Day (provided, however, that if such next succeeding LIBOR Rate Bank Day occurs in the following calendar month, then the LIBOR Rate Interest Period shall expire on the immediately preceding LIBOR Rate Bank Day.)

LIBOR Rate Interest Period means, as to any advance to which the LIBOR Rate Option applies, the period of one (1), two (2), three (3) or six (6) months as selected by the Borrower in its notice of borrowing or notice of conversion, as the case may be, commencing on the date of disbursement of an advance (or the date of conversion of an advance to the LIBOR Rate Option, as the case may be) and each successive period selected by the Borrower thereafter; provided that, (i) if a LIBOR Rate Interest Period would end on a day which is not a Business Day, it shall end on the next succeeding Business Day unless such day falls in the next succeeding calendar month in which case the LIBOR Rate Interest Period shall end on the next preceding Business Day, (ii) the Borrower may not select a LIBOR Rate Interest Period that would end on a day after the Expiration Date, and (iii) any LIBOR Rate Interest Period that begins on the last Business Day of a calendar month (or a day for which there is no numerically corresponding day in the last calendar month of such LIBOR Interest Period) shall end on the last Business Day of the last calendar month of such LIBOR Rate Interest Period.

LIBOR Rate Interest Period means a period of three months (90 days), or such longer or shorter period as Cavalier Homes, on behalf of itself and the other Borrowers, and Lender may agree from time to time. A month means a period of thirty (30) days. If any LIBOR Interest Period would otherwise end on a day which is not a Banking Day, the LIBOR Rate Interest Period shall end on the next Banking Day.

LIBOR Rate Interest Period means the period of one, two, three or six months selected by the Borrower commencing on the date of the exercise of the LIBOR Rate Option as to any portion of the Line of Credit and each successive period selected by the Borrower thereafter; provided, that (i) if a LIBOR Rate Interest Period would end on a day which is not a Business Day, it shall end on the next succeeding Business Day; unless such day falls in the succeeding calendar month in which case the LIBOR Rate Interest Period shall end on the next preceding Business Day; (ii) the Borrower may not select a LIBOR Rate Interest Period that would end on a day after the end of the Line of Credit Term, and; (iii) any LIBOR Rate Interest Period that begins on the last business day of a calendar month (or a day for which there is no numerically corresponding day in the last calendar month of such LIBOR Rate Interest Period) shall end in the last business day of the last calendar month of such LIBOR Rate Interest Period.

LIBOR Rate Interest Period. With respect to each amount bearing interest at -------------------------- a LIBOR based rate, a period of one LIBOR Business day, commencing on the date a disbursement of Loan proceeds is made, continued, or converted.

LIBOR Rate Interest Period means any applicable 90-Day LIBOR Rate Interest Period or 180-Day LIBOR Rate Interest Period.