Term Loan LIBOR Rate definition

Term Loan LIBOR Rate means an interest rate per annum equal at all times during an Interest Period to the aggregate of (i) LIBOR and (ii) the Interest Rate Margin.

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Term Loan LIBOR Rate means, with respect to any Eurodollar Term Borrowing for any Interest Period, the rate per annum determined by the Administrative Agents to be the arithmetic mean (rounded upward, if necessary, to the nearest 1/l00th of 1%) of the offered rates for deposits in dollars with a term comparable to such Interest Period that appears on the Telerate British Bankers Assoc. Interest Settlement Rates Page at approximately 11:00 a.m., London, England time, on the second full Business Day preceding the first day of such Interest Period; provided, however, that (i) if no comparable term for an Interest Period is available, the Term Loan LIBOR Rate shall be determined using the average of rates provided by three LIBOR Reference Banks (rounded to four decimal places) corresponding to such Interest Period and (ii) if there shall at any time no longer exist a Telerate British Bankers Assoc. Interest Settlement Rate Page, “Term Loan LIBOR Rate” shall mean, with respect to each day during each Interest Period pertaining to Eurodollar Term Borrowings comprising part of the same Borrowing, the rate per annum equal to the rate at which the Administrative Agents are offered deposits in the relevant Approved Currency at approximately 11:00 a.m., London, England time, two Business Days prior to the first day of such Interest Period in the London interbank market for delivery on the first day of such Interest Period for the number of days comprised therein and in an amount comparable to its portion of the amount of such Eurodollar Term Borrowing to be outstanding during such Interest Period. “Telerate British Bankers Assoc. Interest Settlement Rates Page” shall mean the display designated as Page 3750 on the Telerate System Incorporated Service (or such other page as may replace such page on such service for the purpose of displaying the rates at which dollar deposits are offered by leading banks in the London interbank deposit market).

Term Loan LIBOR Rate means, relative to any Term Loan LIBOR Interest Period for a Term Loan LIBOR Rate Loan, the offered rate for deposits of U.S. Dollars in an amount approximately equal to the amount of the Term Loan LIBOR Rate Loan for a term coextensive with the designated Term Loan LIBOR Interest Period which the British Bankers’ Association fixes as its LIBOR rate as of 11:00 a.m. London time on the day which is two London Banking Days prior to the beginning of such Interest Period. If the Agent cannot determine such offered rate by the British Bankers’ Association, the Agent may, in its discretion, select a replacement index based on the arithmetic mean of the quotations, if any, of the interbank offered rate by first class banks in London or New York for deposits in comparable amounts and maturities.

Examples of Term Loan LIBOR Rate in a sentence

In such event: (i) any pending request for a Term Loan LIBOR Rate shall be of no effect; and (ii) the obligation of the Bank to maintain or offer Term Loan LIBOR Rates shall be suspended until the Bank determines that the circumstances giving rise to such suspension no longer exist, whereupon the Bank shall notify the Borrower.
Subject to clause (d) below, interest on (A) the entire Initial Term Loan shall be charged at a rate of interest based upon the LIBOR Rate plus the Initial Term Loan LIBOR Rate Margin in accordance with Section 2.6(a) and (B) the entire Second Amendment Term Loan shall be charged at a rate of interest based upon the LIBOR Rate plus the Second Amendment Term Loan LIBOR Rate Margin in accordance with Section 2.6(a).
Each portion of the Term Loan that is a LIBOR Rate Loan shall bear interest on the principal amount thereof from time to time outstanding, from the date of such Loan until such principal amount is repaid, at a rate per annum equal to the LIBOR Rate plus the Term Loan LIBOR Rate Margin.
The Term Loan LIBOR Rate may change as of the first Eurodollar Banking Day of each calendar quarter without notice to Borrower.
Subsequent irrevocable notices by the Company to the Administrative Agent concerning the conversion of a Term Loan LIBOR Rate Advance to a Term Loan Prime Rate Advance/Federal Funds Rate Advance shall be in substantially the form set forth in EXHIBIT A or in such other form as may be satisfactory to the Administrative Agent, and shall be delivered by the Company to the Administrative Agent no later than 12:00 noon (Columbus, Ohio time) on the Business Day immediately preceding the proposed conversion date.
Each such request shall further specify the Interest Period to be applicable to such request as follows: for Term Loan Base Rate no Interest Period need be specified; for Term Loan LIBOR Rate, the Interest Period, at the Borrower's option, may be of a duration of 7, 30, 60 or 90 days; and for Term Loan Cost of Funds Rate, the Interest Period, at the Borrower's option, may be of a duration of 7, 14 or 21 days.
Whenever Borrower desires that the 2000 Term Loan bear interest at a Term Loan LIBOR Rate or a Term Loan Cost of Funds Rate: it shall give Bank not less than two (2) Business Days notice of such request; and the effective date of a Term Loan LIBOR Rate request or a Term Loan Cost of Funds Rate shall be a Business Day.
The definitions of “Initial Term Loan Base Rate Margin”, “Initial Term Loan LIBOR Rate Margin”, “Second Amendment Term Loan Base Rate Margin”, and “Second Amendment Term Loan LIBOR Rate Margin” are hereby deleted in their entirety.
Provided, however, Borrowers shall have the option of designating a portion of Term Loan B as a Loan which bears interest at the LIBOR Rate, plus the Term Loan LIBOR Rate Margin, or converting the interest rate for all or a portion of Term Loan B to the LIBOR Rate, plus the Term Loan LIBOR Rate Margin, in accordance with Section 2.3 below.
Additional Delayed Draw Term Loan ABR Loans shall be in an aggregate minimum amount of $25,000,000 and integral multiples of $100,000 in excess of that amount and Additional Delayed Draw Term Loan LIBOR Rate Loans shall be in an aggregate minimum amount of $25,000,000 and integral multiples of $100,000 in excess of that amount.

More Definitions of Term Loan LIBOR Rate

Term Loan LIBOR Rate means as of any date the LIBOR Rate that would be in effect on such date for an Advance made as of the first Eurodollar Banking Day of the most recently commenced calendar quarter, assuming that (i) Borrower had made a LIBOR election under Section 2.4(a)(ii) with respect to such Advance, (ii) Borrower had selected the three (3) month LIBOR Period, (iii) the LIBOR Margin would be one and seven-eighths percent (1.875%) and (iv) Borrower would not be prohibited under this Agreement from making a LIBOR election.

Term Loan LIBOR Rate means the greater of (a) the rate per annum rate appearing on Macro*World's (▇▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇.▇▇▇; the "Service") Page BBA LIBOR – USD (or on any successor or substitute page of such Service, or any successor to or substitute for such Service) 2 Business Days prior to the commencement of the first day of each Term Loan Interest Period, for a term, and in an amount, comparable to the Term Loan Interest Period and the amount of the Term Loan (whether as the initial Term Loan or as a continuation of the Term Loan) in accordance with the Agreement, which determination shall be made by Agent and shall be conclusive in the absence of manifest error and (b) 1.00% per annum.

Term Loan LIBOR Rate in Section 1 of the Loan Agreement is hereby amended and restated as follows:

Term Loan LIBOR Rate means, with respect to each day during each Interest Period pertaining to Eurodollar Term Borrowings comprising part of the same Borrowing, the rate per annum equal to the rate at which the Administrative Agents are offered deposits in the relevant Approved Currency at approximately 11:00 a.m., London, England time, two Business Days prior to the first day of such Interest Period in the London interbank market for delivery on the first day of such Interest Period for the number of days comprised therein and in an amount comparable to its portion of the amount of such Eurodollar Term Borrowing to be outstanding during such Interest Period. “Telerate British Bankers Assoc. Interest Settlement Rates Page” shall mean the display designated as Page 3750 on the Telerate System Incorporated Service (or such other page as may replace such page on such service for the purpose of displaying the rates at which dollar deposits are offered by leading banks in the London interbank deposit market).

Term Loan LIBOR Rate means the LIBOR Rate during the LIBOR Rate Interest Period, plus an applicable margin, which shall be (a) 3.25% for the period beginning on October 1, 1998 and ending on December 31, 1999, and (b) for all periods beginning after December 31, 1999, an amount which shall be adjusted as of the first day of the applicable Fiscal Quarter based on the Consolidated Interest Coverage Ratio of GSTOC and its Subsidiaries for the 12-month period then ended, as follows: