Examples of Revolving LIBOR Loan in a sentence
If the Borrower elects to have the terms of this Section 2.4(e) apply to a requested Revolving Credit Borrowing of a Base Rate Loan or if the Agent receives a Notice of Borrowing for a LIBOR Loan, then, promptly after receipt of the Notice of Borrowing with respect to such Revolving Base Rate Loan or Revolving LIBOR Loan, the Agent shall notify the Revolving Credit Lenders by telecopy, telephone or e-mail of the requested Borrowing.
Borrower shall pay accrued interest on the unpaid principal amount of each Revolving Loan (A) in the case of a Revolving Prime Rate Loan, on the last Business Day in each month, (B) in the case of a Revolving LIBOR Loan, on the last day of each Interest Period therefor (and, if any such Interest Period is longer than three (3) months, every three (3) months); and (C) in the case of all Revolving Loans, upon prepayment (to the extent thereof) and at maturity.
Borrower understands that such costs and losses may include, without limitation, losses incurred by a Bank as a result of funding and other contracts entered into by such Bank to fund or in connection with the funding of a Revolving LIBOR Loan.
Borrower understands that such costs and losses (or deemed losses) may include, without limitation, losses incurred by a Bank as a result of contracts entered into by such Bank to fund a Revolving LIBOR Loan or losses deemed to be incurred by a Bank assuming such Bank had entered into a "match funding" arrangement to fund a Revolving LIBOR Loan.
It can easily lead us to a low local max on the shoulder of a peak: a “molehill on a mountainside.” It is one of the few errors by the estimable Alfred Marshall, whose motto was Natura non facit saltum (nature makes no leap).
A Revolving Credit Loan tied to the LIBOR Interest Rate is called a “Revolving LIBOR Loan,” and a Revolving Credit Loan tied to the Prime Rate is called a “Revolving Prime Loan.” A Revolving Credit Loan will be a Revolving Prime Loan any time it is not a Revolving LIBOR Loan.
The Revolving Credit Loans will bear interest from disbursement until due (whether at stated maturity, by acceleration on otherwise) at an annual rate equal to, at Borrower’s option, either (a) for a Revolving LIBOR Loan (as defined below), the LIBOR Interest Rate plus four and one-quarter percent (4.25%), or (b) for a Revolving Prime Loan (as defined below), the fluctuating Prime Rate plus two and three-quarters percent (2.75%).
Except as otherwise specifically provided to the contrary, each LIBOR Rate Loan shall bear interest at the Revolving LIBOR Loan Rate so determined from and including the first day of such particular Interest Period to, but not including, the last day of such particular Interest Period.
A Revolving Credit Loan tied to the LIBOR Interest Rate is called a “Revolving LIBOR Loan,” and a Revolving Credit Loan tied to the Prime Rate is called a “Revolving Prime Loan.” A Revolving Credit Loan will be a Revolving Prime Loan any time that Borrower does not specifically request that such Loan be a Revolving LIBOR Loan in accordance with Section 2.2.
Each Revolving LIBOR Loan made by the Lenders shall bear interest (computed on the basis of a year of 360 days and the actual days elapsed) on the unpaid principal amount thereof from the date such Revolving LIBOR Loan is made until maturity (whether by acceleration or otherwise) at a rate per annum equal to the LIBOR Rate plus the Applicable Margin, payable (whether by acceleration or otherwise) in accordance with Section 3.11 hereof.