LIBOR Rate Advance definition

LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

LIBOR Rate Advance means any borrowing under this Note when and to the extent that its interest rate is determined by reference to the Adjusted LIBOR Rate.

LIBOR Rate Advance means an Advance that bears interest as provided in Section 4.1(b).

Examples of LIBOR Rate Advance in a sentence

• With respect to any Borrowing consisting of a LIBOR Rate Advance, the Borrower Agent may, subject to the provisions of Section 2.3(d) and so long as all the conditions set forth in Article V have been fulfilled, elect to maintain such Borrowing or any portion thereof as a LIBOR Rate Advance by selecting a new Interest Period for such Borrowing, which new Interest Period shall commence on the last day of the Interest Period then ending.

• The Applicable Interest Rate for each such LIBOR Rate Advance shall be a per annum rate equal to the sum of the LIBOR Rate, plus the Applicable Percentage specified in clause (b) of the Applicable Percentage definition.

• Absent written notice the contrary in accordance herewith, each LIBOR Rate Advance shall continue for successive Accrual Periods.

• Each Conversion/Continuation Request relating to the conversion of a Base Rate Advance to a LIBOR Rate Advance shall be irrevocable by Borrower.

• In the event that Borrower does not notify the Agent of its election hereunder with respect to any LIBOR Rate Advance, such Advance shall be automatically continued at the end of the applicable Interest Period as a LIBOR Rate Advance for an Interest Period of one month unless such Interest Period shall be greater than the time remaining until the Maturity Date, in which case such Advance shall be automatically converted to Base Rate Advances at the end of the applicable Interest Period.

More Definitions of LIBOR Rate Advance

LIBOR Rate Advance means an advance of the Loan by Lenders to Borrower or any portion of the Loan held by a Lender which bears interest at an applicable LIBOR Rate at the time in question.

LIBOR Rate Advance means an Advance bearing interest calculated by reference to the LIBOR Rate.

LIBOR Rate Advance means an Advance which bears interest at a rate determined by reference to the LIBOR Rate as provided in Section 2.4(a)(ii).

LIBOR Rate Advance. Any portion of the Principal Balance which bears interest at a LIBOR Rate; provided, however, that any LIBOR Rate Advance must be in the aggregate principal amount of at least $1,000,000 and in minimum increments of $250,000 thereafter.

LIBOR Rate Advance means a Term Credit Advance that bears interest as provided in Section 2.06(a)(ii).

LIBOR Rate Advance means an Advance or any portion of an Advance which bears interest computed with reference to the Adjusted LIBOR Rate.

LIBOR Rate Advance means an Advance which bears interest at a rate determined by reference to a LIBOR Rate.