Examples of LIBOR Revolving Credit Loan in a sentence
Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a Borrowing of a LIBOR Revolving Credit Loan or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Working Day) and the amount thereof and (c) if such Borrowing is to be a Borrowing of LIBOR Revolving Credit Loans, the Interest Period with respect thereto.
In order to effect a Revolving Credit Borrowing, the Borrower shall hand deliver or telecopy to the Administrative Agent a Borrowing notice in the form of Exhibit F (a) in the case of a Borrowing of a LIBOR Revolving Credit Loan, not later than 2:00 p.m., New York City time, three Working Days before a proposed Borrowing, and (b) in the case of an ABR Borrowing, not later than 2:00 p.m., New York City time, on the day of a proposed Borrowing.
Not later than 1:00 p.m. on the proposed Borrowing date, each Lender will make available to the Agent, for the account of the Borrowers, at the Agent's Office in funds immediately available to the Agent, an amount equal to such Lender's Commitment Percentage of such Prime Rate Revolving Credit Loan or LIBOR Revolving Credit Loan, as the case may be.
The Borrowers may request a LIBOR Loan under the Revolving Credit Facility by giving the Agent a Notice of Borrowing (which notice shall be irrevocable) not later than 11:00 a.m. on the date three Business Days before the date on which the requested LIBOR Revolving Credit Loan is to be made; PROVIDED the Borrowers shall not be permitted to request, and the Lenders shall not be required to make, LIBOR Revolving Credit Loans at any time during the existence of an Event of Default.
Borrowers shall have the right prior to the Maturity Date, or one (1) month prior to the Maturity Date in the case of a LIBOR Revolving Credit Loan, to reborrow as provided in this Section 2.1, provided, that, all outstanding Revolving Credit Loans shall be due and payable jointly and severally by the Borrowers on the Maturity Date.
Any such repayments of a LIBOR Revolving Credit Loan also shall be upon at least two (2) Banking Days prior notice to the Bank.
Such notice shall be irrevocable and shall in each case specify (a) whether the Borrowing then being requested is to be a Borrowing of a LIBOR Revolving Credit Loan or an ABR Borrowing, (b) the date of such Revolving Credit Borrowing (which shall be a Working Day) and the amount thereof, (c) if such Borrowing is to be a Borrowing of LIBOR Revolving Credit Loans, the Interest Period with respect thereto and (d) whether such Borrowing is to be made in Dollars or U.K. Pounds Sterling.
Repayments shall be accompanied by payment of accrued interest on the amount repaid to the date of repayment and, in the case of any repayment of a LIBOR Revolving Credit Loan on a date other than its LIBOR Determination Date, any amount required by Section 4.4 hereof.
The Borrower will pay interest on the unpaid principal amount of each LIBOR Revolving Credit Loan for the Interest Period applicable thereto at a rate per annum equal to the sum of two and one-quarter percent (2.25%) plus LIBOR, payable in arrears on each Interest Payment Date, on the last day of such Interest Period, and when such LIBOR Revolving Credit Loan is paid (whether at maturity, by reason of acceleration or otherwise).
The Borrower may request a LIBOR Revolving Credit Loan by notifying the Lender (which notice shall be irrevocable) not later than 12:00 noon (Eastern time) on the date two Business Days before the day on which the requested LIBOR Revolving Credit Loan is to be made, specifying the effective date and amount of such LIBOR Revolving Credit Loan and the duration of the applicable Interest Period.