LIBO Rate Period definition

LIBO Rate Period shall have the meaning set forth in Subsection 5.1.2.

LIBO Rate Period is a period commencing on the first (1st) Business Day of a calendar month and continuing to, but not including, the first (1st) Business Day of the next calendar month; provided, however, no LIBO Rate Period shall extend beyond the Maturity Date.

LIBO Rate Period means any Interest Period during which the Applicable Rate is determined based upon the LIBO Rate pursuant to Section 5.01 of the Participation Agreement.

Examples of LIBO Rate Period in a sentence

• Following the expiration of the LIBO Rate Period for any LIBO Rate Loan, interest shall automatically accrue at the Base Rate unless Borrower requests and receives another LIBO Rate Loan as provided in this Subsection.

• Each notice must be in substantially the form of Exhibit 2.3 hereto (“5-Year Borrowing Notice”) and must specify (w) the amount of such 5-Year Advance (which must be a minimum of $10,000,000.00 and in incremental multiples of $1,000,000.00), (x) the proposed date of making such 5-Year Advance, (y) whether Borrower requests that the 5-Year Advance will bear interest at (i) the Base Rate or (ii) the LIBO Rate, and (z) in the case of a LIBO Rate Loan, the initial LIBO Rate Period applicable thereto.

• Each such election shall apply only to a single One-Month LIBO Rate Period.

• Borrower acknowledges that prepayment or acceleration of a One-Month LIBO Rate Portion during a One-Month LIBO Rate Period shall result in Lender’s incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities.

• If such notice is given and until such notice has been withdrawn by the Administrative Agent, then any portion of the outstanding principal balance hereof which bears interest determined in relation to the LIBO Rate shall, subsequent to the end of the LIBO Rate Period applicable thereto, bear interest at the Base Rate.

More Definitions of LIBO Rate Period

LIBO Rate Period means any period from and after the Reduction Date during which the most recent quarterly financial statements of Borrower indicate both (a) a ratio of EBITR to Fixed Charges for the four fiscal quarters then ended of greater than 1.10:1.00 and (b) a ratio of (i) the sum of total Consolidated Unsubordinated Liabilities to (ii) the sum of Consolidated Tangible Net Worth plus Subordinated Debt plus 60% of any LIFO reserve of less than 2.0:1.0. Notwithstanding the foregoing, a date shall not be deemed to be included in a LIBO Rate Period if more than 45 days have then elapsed from the end of Borrower's then most recent fiscal quarter and Borrower has not yet delivered to the Bank its quarterly financial statements for such fiscal quarter.

LIBO Rate Period means as to each Advance, (a) initially, the period commencing on the date on which such Advance is made and ending on the numerically corresponding day one, two, three or six calendar months thereafter, as selected by the Borrower in the Borrowing Notice relating to such Advance, and (b) thereafter, each period commencing on the last day of the immediately preceding LIBO Rate Period applicable to such Advance and ending on the numerically corresponding day one, two, three or six calendar months thereafter, as selected by the Borrower by written notice delivered to the Administrative Agent not later than 11:00 a.m., three (3) Banking Days prior to the commencement of the relevant LIBO Rate Period (in the understanding that, if no such notice is delivered by the Borrower to the Administrative Agent, such LIBO Rate Period shall have the same duration as the immediately preceding LIBO Rate Period); provided that:

LIBO Rate Period means, with respect to any LIBO Rate Funding:

LIBO Rate Period means any Interest Period during which the Applicable Rate is determined based upon the LIBO Rate pursuant to Article V of the Participation Agreement.

LIBO Rate Period shall have the meaning set forth in Subsection 3.1.2. Licensing Laws: shall have the meaning set forth in Section 7.4. Lien: means with respect to any asset any mortgage, deed of trust, pledge, security interest, hypothecation, assignment for security purposes, encumbrance, lien (statutory or other), or other security agreement or charge, or encumbrance of any kind or nature whatsoever (including, without limitation, any conditional sale, Capital Lease or other title retention agreement related to such asset, and including, in the case of capital stock, any stockholder agreements, voting trust agreements and all similar arrangements). Loan Documents: means this Credit Agreement and the Notes. Loan Payment: shall have the meaning set forth in Section 13.1. Loans: means, collectively, the term loans made pursuant to Section 2.12.1.1, the revolving loans made pursuant to Section 2.1.2 and the Incremental Loans made pursuant to Section 2.9, including all Base Rate Loans, all LIBO Rate Loans and all Quoted Rate Loans. Material Adverse Effect: means a material adverse effect on (a) the financial condition, results of operation, business or property of Borrower, or of Borrower and its Subsidiaries taken as a whole; or (b) the ability of Borrower to perform its obligations under this Credit Agreement and the other Loan Documents; or (c) the ability of the Administrative Agent or the Syndication Parties to enforce their rights and remedies against Borrower under the Loan Documents. Material Agreements: means all agreements of Borrower or any of its Subsidiaries, the termination or breach of which, based upon Borrower’s knowledge as of the date of making any representation with respect thereto, would have a Material Adverse Effect. 13

LIBO Rate Period means, (i) the period beginning on (and including) the date (x) on which an Advance is made (other than the date of the Final Advance) or (y) Basic Rent is continued to be determined by reference to the LIBO Rate (Reserve Adjusted) or (z) with respect to the amount of the Final Advance and the Tranche A4 Participant Balance on the Payment Date occurring on the Base Term Commencement Date, and (ii) ending on (but excluding) the day which numerically corresponds to such date three months thereafter (or if such month has no numerically corresponding day, on the last Business Day of such month) and if such LIBO Rate Period would otherwise end on a day which is not a Business Day, such LIBO Rate Period shall end on the next following Business Day (unless such next following Business Day is the first Business Day of a calendar month, in which case such LIBO Rate Period shall end on the Business Day next preceding such numerically corresponding day and no LIBO Rate Period may end later than the last day of the Lease Term.

LIBO Rate Period means, with respect to any LIBO Rate Loan, each period commencing on a Business Day selected by Borrower pursuant to the Agreement and ending one, two or three months thereafter, as selected by Borrower's irrevocable notice to Agent as set forth in Section 1.4(e); provided that the foregoing provision relating to LIBO Rate Periods is subject to the following: