Term LIBOR Rate Loan means any portion of the Term Loan which bears interest at a rate determined by reference to the LIBOR Rate.
Examples of Term LIBOR Rate Loan in a sentence
Each Term LIBOR Rate Loan shall be in an amount equal to $1,000,000.00 or incremental multiples of $1,000,000.00.
In the case Borrower determines that all or any portion of the Term Loan is to be a Term LIBOR Rate Loan, the Borrower shall so notify the Agent no later than 12:00 p.m. (noon) (St. Louis, Missouri time) on a Business Day which is at least three (3) Business Days prior to the date of such Loan.
In the event Borrower selects a Term LIBOR Rate Loan, the Borrower shall specify the Interest Period therefore; provided, however, that, no Term LIBOR Rate Loan shall be established while an Event of Default exists or if the interest rate for such Term LIBOR Rate Loan would exceed the Maximum Rate.
Term LIBOR Rate Loan - that portion of the Term Loan or Capital Expenditure Loans on which interest accrues at the Term LIBOR Rate.
All or any part of the outstanding Revolving Credit Loans or Term Loans of any Type may be converted as provided herein, provided that no partial conversion shall result in a Revolving Credit Base Rate Loan or a Term Base Rate Loan in an aggregate principal amount of less than $500,000 or a Revolving Credit LIBOR Rate Loan or a Term LIBOR Rate Loan in an aggregate principal amount of less than $500,000 and that the aggregate principal amount of each Loan shall be in an integral multiple of $100,000.