LIBOR Rate Period means the period for which an Overall Libor Rate is in effect for the purpose of determining the rate of interest on all or any part of the Revolving Loan.
LIBOR Rate Period means for any Loan Portion, each period for the computation of Interest on a Loan Portion at a LIBOR Rate. Subject to Section 2.3(e) hereof, each LIBOR Rate Period shall have a duration of one (1), two (2), three (3) or six (6) months (in each case, subject to general availability), as selected by Borrower in accordance with Section 2.3(b) or (c) hereof, provided, however, that such one or two-month period shall only be available for Earn-Out Disbursements for the initial LIBOR Rate Period for such disbursement commencing on the date such disbursement is (and shall not be available for any rollover period after the expiration of such initial LIBOR Rate Period), or such other period as Borrower and Agent shall agree. Notwithstanding the foregoing, in the case of a LIBOR Rate Period which would otherwise end after the date which is the Maturity Date, such LIBOR Rate Period shall have a duration equal to the period commencing on the effective date of such LIBOR Rate Period and ending on and including the Maturity Date. Each LIBOR Rate Period shall commence (y) with respect to any Loan Portion bearing Interest at a LIBOR Rate included in any Earn-Out Disbursement on the date of such Earn-Out Disbursement or (z) with respect to any outstanding principal of the Loan, on any date selected by Borrower in accordance with Section 2.3 hereof; provided, however, that notwithstanding anything in this definition of LIBOR Rate Period to the contrary, (i) if any LIBOR Rate Period would otherwise end on a day which is not a LIBOR Banking Day, such LIBOR Rate Period shall be extended to the next succeeding LIBOR Banking Day, unless the result of such extension would be to carry such LIBOR Rate Period over into another calendar month, in which event such LIBOR Rate Period shall end on the immediately preceding LIBOR Banking Day and (ii) any LIBOR Rate Period that begins on the last LIBOR Banking Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such LIBOR Rate Period) shall end on the last LIBOR Banking Day of the calendar month in which such LIBOR Rate Period would have ended if there were a numerically corresponding day in such calendar month.
LIBOR Rate Period. The period commencing on the date any LIBOR Rate Advance is made and ending one (1) month, two (2) months, three (3) months or six (6) months thereafter as selected by Borrower in the applicable LIBOR Rate Notice; provided, however, that (a) if any LIBOR Rate Period would end on a day that is not a Euro Day, such LIBOR Rate Period shall extend to the next Euro Day, unless, in the case of said LIBOR Rate Advance, such Euro Day would fall in the next calendar month, in which event such LIBOR Rate Period shall end on the immediately preceding Euro Day, and (b) no LIBOR Rate Period shall end later than the then applicable Maturity Date.
Examples of LIBOR Rate Period in a sentence
If no Event of Default, or event which, with notice or lapse of time or both, could become an Event of Default, has occurred and is continuing under any Loan Document, Borrower may from time to time elect, by a LIBOR Rate Notice, to pay interest on the LIBOR Rate Advance described in said LIBOR Rate Notice at a LIBOR Rate during the LIBOR Rate Period specified in said LIBOR Rate Notice.
Agent shall notify Borrower of the LIBOR Rate applicable to any LIBOR Rate Period promptly after the same is determined by Agent, which determination, in the absence of manifest error, shall be final, conclusive and binding on Borrower.
Nothing in this Section shall affect the LIBOR Rate then in effect on any LIBOR Rate Advance outstanding at the time of receipt by Borrower of such notice until the expiration of the LIBOR Rate Period in effect with respect to such LIBOR Rate Advance at such time.
If no Event of Default has occurred and is continuing under this Agreement or any of the other Loan Documents, Borrower may from time to time elect, by a LIBOR Rate Notice, to pay interest on the LIBOR Rate Advance described in said LIBOR Rate Notice at a LIBOR Rate during the LIBOR Rate Period specified in said LIBOR Rate Notice; provided, however, Borrower may not elect to have more than five (5) LIBOR Rate Advances outstanding at any one time.
A written notice from Borrower to Agent, received by Agent prior to 10:00 o'clock a.m. (California time) on a New York Banking Day at least two (2) New York Banking Days prior to the commencement date of any LIBOR Rate Period hereunder referred to therein (or the expiration of a previous LIBOR Rate Period with respect thereto), whereby Borrower elects to have an advance or a portion of the principal balance of the Note, as specified in said notice, be a LIBOR Rate Advance.
More Definitions of LIBOR Rate Period
LIBOR Rate Period means for any Loan Portion, each period for the computation of Interest on a Loan Portion at a LIBOR Rate. Subject to Section 2.3(f) hereof, each LIBOR Rate Period shall have a duration of one (1), two (2), three (3) or six (6) months, or one (1) year as selected by Borrower in accordance with Section 2.3(b) or (c) hereof (or such other period as Borrower and Agent shall agree), in each case, however, subject to availability to the Lenders. Notwithstanding the foregoing, in the case of a LIBOR Rate Period which would otherwise end after the date which is the Maturity Date, such LIBOR Rate Period shall have a duration equal to the period commencing on the effective date of such LIBOR Rate Period and ending on and including the Maturity Date. Each LIBOR Rate Period shall commence on the date selected by Borrower in accordance with Section 2.3 hereof; provided, however, that notwithstanding anything in this definition of LIBOR Rate Period to the contrary, (i) if any LIBOR Rate Period would otherwise end on a day which is not a LIBOR Banking Day, such LIBOR Rate Period shall be extended to the next succeeding LIBOR Banking Day, unless the result of such extension would be to carry such LIBOR Rate Period over into another calendar month, in which event such LIBOR Rate Period shall end on the immediately preceding LIBOR Banking Day and (ii) any LIBOR Rate Period that begins on the last LIBOR Banking Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such LIBOR Rate Period) shall end on the last LIBOR Banking Day of the subsequent calendar month.
LIBOR Rate Period. A thirty (30) day interest period during which the LIBOR Rate is in effect; provided, however, in no event shall a LIBOR Rate Period extend beyond the Maturity Date.
LIBOR Rate Period means a period of thirty (30) days, which shall commence on the first day of any month; provided that each LIBOR Rate Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day; and provided, further, that if the next Business Day is in a new calendar month such LIBOR Rate Period shall end on the next preceding Business Day.
LIBOR Rate Period means ----------------- for any portion of principal for which Undersigned elects the LIBOR Rate the period of time for which such rate shall apply to such principal portion. LIBOR Rate Periods shall be for periods of 30, 60 and 90 days and for no other length of time. "LIBOR Rate Reserve Percentage" for any day means the percentage ----------------------------- (rounded upward to the nearest 1/100 of 1%), as determined in good faith by Bank (which determination shall be conclusive) as representing for such day the maximum effective percentage as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) for Bank with respect to eurocurrency funding. "Notification" means telephonic notice (which shall be irrevocable) by ------------ Undersigned to Bank that Undersigned has requested that the As-Offered Fixed Rate or the LIBOR Rate, as the case may be, shall apply to some portion of the principal amount of this Note in accordance with the provisions of paragraph 4 hereof, which notice shall be given no later than 1:00 p.m., local time at the place where this Note is payable, on the day (which shall be a day on which Bank is opened for business) on which such election is to become effective, or if the LIBOR Rate is requested, 1:00 p.m., local time at the place where this Note is payable, on the day which is at least three (3) business days prior to the day (which shall be a day on which Bank is opened for business) on which such election is to become effective, which notice shall specify (i) that the As- Offered Fixed Rate or LIBOR Rate option is being selected; (ii) the principal amount to be subject to the As-Offered Fixed Rate or the LIBOR Rate; (iii) whether such amount is a renewal of a previous request of the As-Offered Fixed Rate or the LIBOR Rate, a conversion from the Prime-Based Rate or LIBOR Rate to the As-Offered Fixed Rate, a conversion from the Prime-Based Rate or As-Offered Fixed Rate to the LIBOR Rate, or a combination thereof; (iv) the Rate Period selected; and (v) the date on which such request is to become effective (which
LIBOR Rate Period means each successive ninety (90) day period during the Term. The initial LIBOR Rate Period shall commence on the date of this Agreement (or if such day is not a Eurodollar Business Day, the immediately preceding Eurodollar Business Day) and shall terminate on a date which is thirty days thereafter (or if such day is not a Eurodollar Business Day, the immediately preceding Eurodollar Business Day). Each LIBOR Rate Period after the initial LIBOR Rate Period shall commence on the first Eurodollar Business Day immediately following the expiration of the immediately preceding LIBOR Rate Period and shall terminate ninety days thereafter (or if such day is not a Eurodollar Business Day, the immediately preceding Eurodollar Business Day).
LIBOR Rate Period means a period of one month, two months, three months or six months at Makers' election, provided, however, that no period shall extend beyond the Maturity Date. If the proposed period would extend beyond the Maturity Date, Makers shall not be able to select that LIBOR Rate Period. Any LIBOR Rate Period which terminates on a non-Business Day shall be deemed, for purposes hereof, to terminate on the next Business Day;
LIBOR Rate Period means, with respect to any Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one (1) month thereafter (or such shorter period to which the Agent and Borrowers may agree); provided, that (a) if any LIBOR Rate Period would end on a day other than a LIBOR Banking Day, such LIBOR Rate Period shall be extended to the next succeeding LIBOR Banking Day unless the result of such extension would be to carry such LIBOR Rate Period over into another calendar month, in which event such LIBOR Rate Period shall end on the immediately preceding LIBOR Banking Day and (b) if any LIBOR Rate Period relating to a Loan would otherwise end after the Maturity Date for such Loan (including as a result of the foregoing clause (a)), then such LIBOR Rate period shall end on the Maturity Date for such Loan. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.