LIBOR Advantage Loan definition

LIBOR Advantage Loan means any loan or advance for which the applicable rate of interest is based upon the LIBOR Advantage Rate.
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LIBOR Advantage Loan any Revolver Loan bearing interest at a rate determined by reference to the LIBOR Advantage Rate.
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LIBOR Advantage Loan. Any loan or advance for which the applicable rate of interest is based upon the LIBOR Advantage Rate. LIBOR Advantage Rate. Relative to any LA Interest Period, the offered rate for delivery in two London Banking Days of deposits of U.S. Dollars for a term coextensive with the designated LA Interest Period which the British Bankers’ Association fixes as its LIBOR rate as of 11:00 a.m. London time on the day on which such LA Interest Period commences. If the first day of any LA Interest Period is not a day which is both a (i) Business Day, and (ii) a London Banking Day, the LIBOR Advantage Rate shall be determined by reference to the next preceding day which is both a Business Day and a London Banking Day. Interest accruing by reference to the LIBOR Advantage Rate shall be calculated for the actual number of days elapsed on the basis of a 360-day year, including the first date of the applicable period to, but not including, the date of repayment. If for any reason the LIBOR Advantage Rate is unavailable and/or the Lender is unable to determine the LIBOR Advantage Rate for any LA Interest Period, the Lender may, at its discretion, either: (a) select a replacement index based on the arithmetic mean of the quotations, if any, of the interbank offered rate by first class banks in London or New York for deposits with comparable maturities or (b) accrue interest at a rate per annum equal to the Lender’s Prime Rate as of the first day of any Interest Period for which the LIBOR Advantage Rate is unavailable or cannot be determined. LIBOR Breakage Fee. As defined in Section 6.4 of this Agreement.
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Examples of LIBOR Advantage Loan in a sentence

  • Upon maturity, a LIBOR Rate Loan may be continued for an additional LIBOR Interest Period or may be converted to LIBOR Advantage Loan or a Prime Rate Loan.


More Definitions of LIBOR Advantage Loan

LIBOR Advantage Loan means the Loan for the period(s) when the rate of interest applicable to such Loan is calculated by reference to the LIBOR Advantage Rate in the manner set forth herein.
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LIBOR Advantage Loan means a Revolving Advance for which the applicable rate of interest is based upon the LIBOR Advantage
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Related to LIBOR Advantage Loan

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • LIBOR Loan means any portion of a Loan (other than a Base Rate Loan) bearing interest at a rate based on LIBOR.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • LIBOR Rate Loan means a Loan that bears interest based on LIBOR.

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

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Eurodollar Loan means a Loan bearing interest based at a rate determined by reference to the Eurodollar Rate.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurocurrency Rate.

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an -------------- Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Eurodollar Period means, as to each Eurodollar Rate Loan, the period commencing on the date specified by Borrower pursuant to Section 2.1(b) and ending 1, 2, 3 or 6 months (or, with the written consent of all of the Lenders, any other period) thereafter, as specified by Borrower in the applicable Request for Loan; provided that:

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Offshore Rate Loan means a Loan that bears interest based on the Offshore Rate.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(ii).

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Eurocurrency Rate Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars or in an Agreed Currency which bears interest as provided in Section 2.07(b) or a Local Currency Advance which bears interest as provided in Section 2.07(b) and the Local Currency Addendum.

  • Interest Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Payment Date and each successive period beginning on (and including) an Interest Payment Date and ending on (but excluding) the next succeeding Interest Payment Date.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • LIBOR Rate Loans means Loans bearing interest at a rate based on the LIBOR Base Rate or LIBOR Rate, as applicable.

  • Bid Rate Loan means a loan made by a Lender under Section 2.2.

  • LIBOR Interest Period means, with respect to a LIBOR Advance, a period of one, two, three or six months, as selected in advance by the Borrower.

  • Eurodollar Competitive Loan means any Competitive Loan bearing interest at a rate determined by reference to the LIBO Rate in accordance with the provisions of Article II.