FIXED LIBOR RATE OPTION Sample Clauses

FIXED LIBOR RATE OPTION. A rate per annum (based on a year of 360 days and actual days elapsed) for each day during the applicable Funding Period equal to the Fixed LIBOR Rate for such Funding Period plus the amount of basis points hereinafter set forth next to the Applicable Margin Ratio in effect as of the date the Fixed LIBOR Rate Option is selected by the Borrower (subject to the provisions of SECTION 2.09 hereinafter set forth): ------------------------------------------------------------- ------------------------------- APPLICABLE MARGIN RATIO (measured as of the date the Fixed LIBOR RATE Option selected by ADDITIONAL BASIS Borrower goes into effect) POINTS: ------------------------------------------------------------- ------------------------------- greater than or equal to 4.00 but less than 4.50 300 ------------------------------------------------------------- ------------------------------- greater than or equal to 3.25 but less than 4.00 240 ------------------------------------------------------------- ------------------------------- greater than or equal to 2.25 but less than 3.25 215 ------------------------------------------------------------- ------------------------------- greater than or equal to 1.00 but less than 2.25 190 ------------------------------------------------------------- ------------------------------- less than 1.00 165 ------------------------------------------------------------- ------------------------------- The Agent shall give prompt notice to the Borrower and each Lender (in any event within ten (10) Business Days of its receipt of the quarterly financial statements or annual reports described in SECTION 5.01 hereof) of (i) the Floating Rate determined or adjusted in accordance with the definition of the Floating Rate, (ii) the Fixed LIBOR Rate determined or adjusted in accordance with the definition of the Fixed LIBOR Rate, and (iii) the Applicable Margin Ratio (and corresponding Basis Points added or subtracted) determined in accordance with the definition of the Applicable Margin Ratio based upon the information set forth in the most recent quarterly financial statements or annual reports described in SECTION 5.01 hereof, which determinations or adjustments shall be conclusive absent manifest error, each such determination or adjustment to be effective as of the first Business Day following the most recently concluded fiscal quarter.
Sample 1
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FIXED LIBOR RATE OPTION. A rate per annum (based on a year of 360 days and actual days elapsed) for each day during the applicable Funding Period equal to the Fixed LIBOR Rate for such Funding Period plus the amount of basis points hereinafter set forth next to the Applicable Margin Ratio in effect as of the date the Fixed LIBOR Rate Option is selected by the Borrower (subject to the provisions of SECTION 2.09 hereinafter set forth): APPLICABLE MARGIN RATIO (measured as of the date the Fixed LIBOR Rate Option selected by Borrower goes into effect) ADDITIONAL BASIS POINTS: Greater than or equal to 4.00 but Less than 4.50 275 Greater than or equal to 3.25 but Less than 4.00 215 Greater than or equal to 2.25 but Less than 3.25 190 Greater than or equal to 1.00 but Less than 2.25 165 Less than 1.00 140 The Agent shall give prompt notice to the Borrower and each Lender (in any event within ten (10) Business Days of its receipt of the quarterly financial statements or annual reports described in SECTION 5.01 hereof) of (i) the Floating Rate determined or adjusted in accordance with the definition of the Floating Rate, (ii) the Fixed LIBOR Rate determined or adjusted in accordance with the definition of the Fixed LIBOR Rate, and (iii) the Applicable Margin Ratio (and corresponding Basis Points added or subtracted) determined in accordance with the definition of the Applicable Margin Ratio based upon the information set forth in the most recent quarterly financial statements or annual reports described in SECTION 5.01 hereof, which determinations or adjustments shall be conclusive absent manifest error, each such determination or adjustment to be effective as of the first Business Day following the most recently concluded fiscal quarter.
Sample 1
FIXED LIBOR RATE OPTION. A rate per annum (based on a year of 360 days and actual days elapsed) for each day during the applicable Funding Period equal to the Fixed LIBOR Rate for such Funding Period plus the amount of basis points hereinafter set forth next to the Applicable Margin Ratio in effect as of the date the Fixed LIBOR Rate Option is selected by the Borrower (subject to the provisions of Section 2.09 hereinafter set forth):
Sample 1

Related to FIXED LIBOR RATE OPTION

  • Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Interest Rate Options The Borrower shall pay interest in respect of the outstanding unpaid principal amount of the Loans as selected by it from the Base Rate Option or LIBOR Rate Option set forth below applicable to the Loans, it being understood that, subject to the provisions of this Agreement, the Borrower may select different Interest Rate Options and different Interest Periods to apply simultaneously to the Loans comprising different Borrowing Tranches and may convert to or renew one or more Interest Rate Options with respect to all or any portion of the Loans comprising any Borrowing Tranche; provided that (i) there shall not be at any one time outstanding more than ten (10) Borrowing Tranches in the aggregate among all of the Loans and (ii) if an Event of Default or Potential Default exists and is continuing, the Borrower may not request, convert to, or renew the LIBOR Rate Option for any Loans and the Required Lenders may demand that all existing Borrowing Tranches bearing interest under the LIBOR Rate Option shall be converted immediately to the Base Rate Option, subject to the obligation of the Borrower to pay any indemnity under Section 5.9 [Indemnity] in connection with such conversion. If at any time the designated rate applicable to any Loan made by any Lender exceeds such Lender’s highest lawful rate, the rate of interest on such Lender’s Loan shall be limited to such Lender’s highest lawful rate.

  • LIBOR Borrower may prepay principal on any portion of this Note which bears interest determined in relation to LIBOR at any time and in the minimum amount of One Hundred Thousand Dollars ($100,000.00); provided however, that if the outstanding principal balance of such portion of this Note is less than said amount, the minimum prepayment amount shall be the entire outstanding principal balance thereof. In consideration of Bank providing this prepayment option to Borrower, or if any such portion of this Note shall become due and payable at any time prior to the last day of the Fixed Rate Term applicable thereto by acceleration or otherwise, Borrower shall pay to Bank immediately upon demand a fee which is the sum of the discounted monthly differences for each month from the month of prepayment through the month in which such Fixed Rate Term matures, calculated as follows for each such month:

  • Libor Option (a) The Borrowers may, at any time and from time to time, so long as no Default or Event of Default has occurred and is continuing, elect to have interest on all or a portion of the Loans be charged at a rate of interest based upon the LIBOR Rate (the "LIBOR Option") by notifying the Administrative Agent prior to 11:00 a.m. (New York City time) at least 3 Business Days prior to (i) the proposed borrowing date of a Loan (as provided in Section 2.02), (ii) in the case of the conversion of a Reference Rate Loan to a LIBOR Rate Loan, the commencement of the proposed Interest Period or (iii) in the case of the continuation of a LIBOR Rate Loan as a LIBOR Rate Loan, the last day of the then current Interest Period (the "LIBOR Deadline"). Notice of the Borrowers' election of the LIBOR Option for a permitted portion of the Loans and an Interest Period pursuant to this Section 2.07(a) shall be made by delivery to the Administrative Agent of (A) a Notice of Borrowing (in the case of the initial making of a Loan) in accordance with Section 2.02 or (B) a LIBOR Notice prior to the LIBOR Deadline (or by telephonic notice received by the Administrative Agent before the LIBOR Deadline (to be confirmed by delivery to the Administrative Agent of a LIBOR Notice received by the Administrative Agent prior to 5:00 p.m. (New York City time) on the same day)). Promptly upon its receipt of each such LIBOR Notice, the Administrative Agent shall provide a copy thereof to each of the Lenders. Each LIBOR Notice shall be irrevocable and binding on the Borrowers.

  • Alternate Rate of Interest If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

  • LIBOR Portions Each LIBOR Portion shall bear interest (which the Company promises to pay at the times herein provided) for each Interest Period selected therefor at a rate per annum equal to the Adjusted LIBOR Rate for such Interest Period plus the Applicable Margin, as determined from time to time under the Pricing Schedule set forth in Exhibit B attached hereto, provided that upon the occurrence of an Event of Default hereunder such Portion shall, upon written notice from the Agent, bear interest (which the Company promises to pay at the times hereinafter provided) whether before or after judgment, for the period from the date such Event of Default occurred and during the continuation thereof, through the end of the Interest Period then applicable thereto at the rate per annum determined by adding two percent (2%) to the interest rate otherwise applicable thereto, and effective at the end of such Interest Period such LIBOR Portion shall automatically be converted into and added to the applicable ABR Portion and shall thereafter bear interest at the interest rate applicable to the applicable ABR Portion after default. Interest on each LIBOR Portion shall be due and payable on the last day of each Interest Period applicable thereto and, at maturity of the applicable Notes, and default interest shall be due and payable upon demand. The Company shall notify the Agent on or before 11:00 a.m. (Kansas City time) on the third Business Day preceding the end of an Interest Period applicable to a LIBOR Portion whether such LIBOR Portion (or any portion thereof) is to continue as a LIBOR Portion, in which event the Company shall notify the Agent of the new Interest Period selected therefor, and in the event the Company shall fail to so notify the Agent, such LIBOR Portion shall automatically be converted into and added to the applicable ABR Portion as of and on the last day of such Interest Period. The Agent shall promptly notify each Bank of each notice received from the Company pursuant to the foregoing provisions. Anything contained herein to the contrary notwithstanding, the obligation of the Banks to create, continue or effect by conversion any LIBOR Portion shall be conditioned upon the fact that at such time no Event of Default shall have occurred and be continuing.

  • Alternate Rate of Interest; Illegality (a) If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

  • Eurodollar Rate Each Eurodollar Loan shall bear interest (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is made or created until the last day of the Interest Period applicable thereto or, if earlier, until maturity (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted Eurodollar Rate, payable on the last day of each Interest Period applicable thereto and at maturity (whether by acceleration or otherwise) and, with respect to any Eurodollar Loan with an Interest Period in excess of three months, on the date occurring every date which is three months after the date such Loan is made or created; provided that if on the last day of the Interest Period applicable to any Eurodollar Loan the Company does not pay such Loan, such Loan shall automatically become a Domestic Rate Loan as of the day immediately following the last day of the Interest Period applicable thereto.

  • LIBOR Rate The election of LIBOR Rates shall be subject to the following terms and requirements:

  • Revolving Credit Interest Rate Options The Borrower shall have the right to select from the following Interest Rate Options applicable to the Revolving Credit Loans:

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