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Existing LIBOR Rate Loans Sample Clauses

Existing LIBOR Rate Loans. (a) Notwithstanding anything herein or in Exhibit A hereto to the contrary, any LIBOR Rate Loan outstanding as of the Amendment Effective Date (an “Existing LIBOR Rate Loan”) shall remain a Loan which pays interest with reference to the LIBOR Rate (without giving effect to the changes to the Credit Agreement made by this Amendment) until the end of the applicable Interest Period (such date, the “Conversion Date”). Any Existing LIBOR Rate Loan shall automatically convert to a SOFR Loan in the amount of such Existing LIBOR Rate Loan and with an Interest Period having the Available Tenor with the nearest length to such existing Interest Period on the last day of the Interest Period applicable to such Loan. (b) Pursuant to Section 2.04(a) of the Credit Agreement, at least three (3) Business Days prior to the Conversion Date, the Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent.
Sample 1
Existing LIBOR Rate Loans. Notwithstanding anything to the contrary in this Agreement, all outstanding LIBOR Rate Loans (if any) at the Closing Date shall, on the Closing Date, be rearranged and converted into new Base Rate Loans, SOFR Loans with an Interest Period indicated in any Notice of Borrowing delivered pursuant to Section 5.2(c) and/or Swingline Loans at the Adjusted Term SOFR for a one month tenor, in each case, in connection with the reallocations and adjustments set forth in Section 2.1(b) (and the proceeds of which, together with any Loans made on the Closing Date in accordance with any such Notice of Borrowing, are used to repay any such LIBOR Rate Loans), and which Loans shall thereafter be subject to the terms and conditions of this Agreement.
Sample 1
Existing LIBOR Rate Loans. Notwithstanding anything to the contrary in this Agreement, all “Eurodollar Loans” (under and as defined in the Existing Credit Agreement) outstanding immediately prior to the effectiveness of this First Amendment shall, on the First Amendment Effective Date, be rearranged and converted into new SOFR borrowings consisting of SOFR Loans with an Interest Period of one-month’s duration (commencing on the First Amendment Effective Date), and which SOFR Loans shall thereafter be subject to the terms and conditions of the Credit Agreement. In connection with such conversion, the Borrower shall deliver any such Interest Election Request as the Administrative Agent may reasonably request pursuant to Section 2.06 of the Credit Agreement. Each Lender agrees to waive any break funding payments owing to such Lender that are required under Section 2.15 of the Credit Agreement in connection with or as a result of the preceding sentence of this Section 2.
Sample 1
Existing LIBOR Rate Loans. Each of the parties hereto agree that the Interest Period with respect to Revolving Loans to be converted into SOFR Loans on the Fourth Amendment Effective Date of varying durations (i.e. less than one month and between one month and three months) and Term SOFR with respect to (x) Revolving Loans with an Interest Period of less than one month shall be the Term SOFR Screen Rate for a one month Interest Period and (y) Revolving Loans with an Interest Period between one month and three months shall be the Term SOFR Screen Rate for a three month Interest Period.
Sample 1
Existing LIBOR Rate Loans. All Libor-Rate Loans requested, made and in effect prior to the date hereof shall be converted on the date hereof to Loans based upon the SOFR Rate Option, with all Loans being converted to Loans bearing the SOFR Rate Option. Accrued and unpaid interest and fees for all Loans shall be due and payable by Borrower on the date hereof. No breakage fees shall be payable by any party with respect to Loans that are so converted.
Sample 1
Existing LIBOR Rate Loans. Notwithstanding anything contained in this Amendment, the terms of the Credit Agreement applicable to Loans under the LIBOR Rate Option (as defined in the Credit Agreement immediately prior to the date hereof) shall continue in full force and effect and shall continue to apply to each Loan under the LIBOR Rate Option with an Interest Period that commenced prior to the First Amendment Effective Date until the expiration of the then current Interest Period for such Loan under the LIBOR Rate Option.
Sample 1

Related to Existing LIBOR Rate Loans

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.

  • Reserves on Eurodollar Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

  • Reserves on LIBOR Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error), payable on each date on which interest is payable on such Loan provided the Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to Agent) of such additional interest from the Lender. If a Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

  • Booking of Eurodollar Rate Loans Any Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

  • Reserves on Eurocurrency Rate Loans The Domestic Borrower shall pay (or cause the Foreign Borrower to pay) to each Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive) and (ii) without duplication of any cost in clause (i) of this clause (e), as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Domestic Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such notice.

  • Prime Rate Loans During such periods as Revolving Loans shall be comprised of Prime Rate Loans, each such Prime Rate Loan shall bear interest at a per annum rate equal to the sum of the Prime Rate;

  • Base Rate Loans During such periods as Revolving Loans shall be comprised in whole or in part of Base Rate Loans, such Base Rate Loans shall bear interest at a per annum rate equal to the Adjusted Base Rate.

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

  • Eurodollar Rate Loans Any conversion to or from Eurodollar Rate Loans shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of all Eurodollar Rate Loans having the same Interest Period shall not be less than $1,000,000 or a whole multiple of $500,000 in excess thereof.

Most Referenced Clauses

Most Referenced Definitions