LIBOR Advances. A fixed rate quoted by the Bank for one -------------- week, 1, 2, 3, or 6 months or for such other period of time that the Bank may quote and offer (provided that any such period of time does not extend beyond the Expiration Date) (the "LIBOR Interest Period") for Advances in the minimum amount of $100,000.00. Such interest rate shall be a percentage equal to the Applicable Margin plus the Bank's LIBOR Rate which is that rate determined by the Bank's Treasury Desk as being the arithmetic mean (rounded upwards, if necessary, to the nearest whole multiple of one-sixteenth of one percent (1/16%)) of the U. S. dollar London Interbank Offered Rates for such period appearing on page 3750 (or such other page as may replace page 3750) of the Telerate screen at or about 11:00 a.m. (London time) on the second Business Day prior to the first days of such period (adjusted for any and all assessments, surcharges and reserve requirements) (the "LIBOR Rate"). An Advance based upon the LIBOR Rate is hereinafter referred to as a "LIBOR Advance". Interest on any Advance shall be computed on the basis of 360 days per year, but charged on the actual number of days elapsed. The Borrower hereby promises and agrees to pay interest in arrears on all Advances on the first calendar day of each month. If interest is not paid as and when it is due, it shall be added to the principal, become and be treated as a part thereof, and shall thereafter bear like interest.

LIBOR Advances means Advances the interest rates on which are determined on the basis of the rates referred to in the definition of "Adjusted LIBOR Rate".

Examples of LIBOR Advances in a sentence

As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.
Interest on LIBOR Advances then outstanding shall also be due and payable on the Maturity Date.
If no such designation or other action is effected, or, if effected, fails to avoid the need for conversion of the LIBOR Advances to Base Rate Advances, American may arrange for a Replacement Liquidity Facility in accordance with Section 3.05(e) of the Intercreditor Agreement.
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.
LIBOR Advances shall bear interest at the rate per annum equal to the LIBOR Rate applicable to such Advance, which at no time shall exceed the Highest Lawful Rate.

More Definitions of LIBOR Advances

LIBOR Advances means Advances on which interest is determined by reference to Libor.

LIBOR Advances collectively, the Revolving Credit Loans or the Term Loan, as the case may be, (or any portions thereof), at such time as they (or such portions) are made and/or being maintained at a rate of interest based upon LIBOR.

LIBOR Advances. Any Loan or part thereof bearing interest at a rate in relation to the LIBOR.

LIBOR Advances means Advances the interest rates on which are determined on the basis of the rates referred to in the definition of "Adjusted LIBOR Rate" in this Section 1.1.

LIBOR Advances means an advance in Dollars made available to the -------------- Company pursuant to Article 3 with interest rates determined on the basis of the --------- LIBOR Rate.

LIBOR Advances means Advances the interest rates on which are determined on the basis of the rates referred to in the definition of "LIBOR Rate".

LIBOR Advances means Advances made hereunder calculated at the LIBOR Option.