LIR Loan definition

LIR Loan means a Loan, or portion thereof, during any period in which it bears interest at a rate based on the LIBOR Index Rate.
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LIR Loan means Loans bearing interest at the LIBOR Index Rate.
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Examples of LIR Loan in a sentence

  • The rate of interest on any LIR Loan shall be adjusted as provided in the definition of “LIBOR Index Rate,” subject to Section 2.3(g).

  • Interest accrued on the Revolving Loans shall be due and payable on (i) the first day of each month (for the immediately preceding month), computed through the last day of the preceding month, with respect to any Revolving Loan that is a Base Rate Loan, an LIR Loan or a LIBOR Loan, and (ii) the last day of the applicable Interest Period also in the case of a LIBOR Loan.

  • If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to the Lender in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day (i) if such Loan is a LIBOR Rate Loan, such Loan shall become a LIR Loan, (ii) if such Loan is a LIR Loan, such Loan shall remain a LIR Loan and (iii) if such Loan is a Base Rate Loan, such Loan shall remain a Base Rate Loan.

  • If the requested Loan is to be a Base Rate Loan or an LIR Loan then such Notice of Borrowing or request must be received by Agent at or before 12:00 noon on the Business Day on which Borrowers desire such Loan to be made.

  • Each Swingline Loan shall constitute a Revolving Loan hereunder, shall be an LIR Loan notwithstanding any request or deemed request for a Base Rate Loan, and shall be subject to all of the terms, conditions and security applicable to other Revolving Loans, except that all payments thereon shall be payable to Regions solely for its own account.

  • The rate of interest on any LIR Loan shall be adjusted as provided in the definition of “LIBOR Index Rate,” subject to Section 2.3(f).

  • The LIBOR Index Rate on the date hereof is _______ percent (____%) per annum and, therefore, the rate of interest in effect hereunder on the date hereof, expressed in simple interest terms (but on a 360-day basis), is _______ percent (____%) per annum with respect to any portion of the Revolving Loans bearing interest as a LIR Loan.

  • Subject to the terms and conditions of this Agreement, (i) the Revolving Loans may be LIR Loans, and (ii) the Term Loan may be a LIR Loan.

  • Employees shall keep their fingernails neatly trimmed to 1/4 inch.

  • The LIBOR Index Rate on the date hereof is 0.32875% per annum and, therefore, the rate of interest in effect hereunder on the date hereof, expressed in simple interest terms (but on a 360-day basis), is, subject to Section 2.3(c), 3.32875% per annum with respect to any portion of the Revolving Loans bearing interest as a LIR Loan.