LIBOR Advance definition

LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

LIBOR Advance means an Advance that bears interest based at the LIBOR Rate.

LIBOR Advance means an Advance which the Borrower requests to be made as, Converted to or Continued as a LIBOR Advance in accordance with the provisions of Section 2.2 hereof, and which shall be in a principal amount of at least $5,000,000.00 and in an integral multiple of $1,000,000.00.

Examples of LIBOR Advance in a sentence

• Thereafter, (x) the obligation of Bank to make any LIBOR Advances or to convert any portion of the loan to a LIBOR Advance shall be suspended until such notice shall be withdrawn by Bank, and (y) any request by Borrower for a LIBOR Advance shall be deemed to be a request for an advance at the Standard Rate.

• The interest rate applicable to each LIBOR Advance shall be determined in accordance with Section 3.6(a) hereunder.

• The Borrower may thereafter elect to continue such LIBOR Advance for one or more Interest Periods, all as provided in this Section; provided that the Borrower may not select an Interest Period that would mature after the Advance Repayment Date other than a final 1-week Interest Period, and on the last day of such final 1-week Interest Period, the Advance shall become due and payable.

• Each Advance shall be in an integral multiple of $1,000,000, and the minimum amount of an Advance shall be $1,000,000; provided, however, if less than $1,000,000 is available to the Borrower a LIBOR Advance may be requested by the Borrower in an aggregate amount that is equal to the entire unused balance of each Lender’s Commitment.

• The Adjusted LIBOR Rate shall apply to the entire principal balance outstanding of a LIBOR Advance for any LIBOR Interest Period.

More Definitions of LIBOR Advance

LIBOR Advance means the advances made by Bank to Borrower evidenced by this Note upon which the Adjusted LIBOR Rate of interest shall apply.

LIBOR Advance means an Advance which bears interest as provided in Section 2.05(b).

LIBOR Advance means an Advance which bears interest at a LIBOR Rate, whether a ratable Advance based on the LIBOR Applicable Margin or a Competitive Bid Loan based on a Competitive LIBOR Margin.

LIBOR Advance means an Advance designated as such in a notice of borrowing under Section 2.3 or a notice of continuation or conversion under Section 2.4.

LIBOR Advance means an Advance bearing interest at the LIBOR Advance Rate.

LIBOR Advance means an Advance which the Borrower requests to be made as ------------- a LIBOR Advance or which is reborrowed as a LIBOR Advance, in accordance with the provisions of Section 2.2 hereof. -----------

LIBOR Advance means an Advance that bears interest at the LIBOR Rate.