LIBO Rate. Each LIBO Rate Loan shall bear interest on the principal amount thereof from the date made until such Loan is paid in full, renewed, or converted, at a rate per annum equal to the LIBO Rate plus the Applicable Borrowing Margin. After receipt of a request for a LIBO Rate Loan, the Administrative Agent shall proceed to determine the LIBO Rate to be applicable thereto. The Administrative Agent shall give prompt notice by telephone or facsimile to the Borrowers of the LIBO Rate thus determined in respect of each LIBO Rate Loan or any change therein.
Appears in 3 contracts
Samples: Credit Agreement (Eplus Inc), Credit Agreement (Eplus Inc), Credit Agreement (Eplus Inc)
LIBO Rate. Each LIBO Rate Loan shall bear interest on the principal amount thereof from the date made until such Loan is paid in full, renewed, or converted, at a rate per annum equal to the LIBO Rate plus the Applicable Borrowing LIBO Rate Margin. After receipt of a request for a LIBO Rate Loan, the Administrative Agent First Union shall proceed to determine the LIBO Rate to be applicable thereto. The Administrative Agent First Union shall give prompt notice by telephone or facsimile to the Borrowers of the LIBO Rate thus determined in respect of each LIBO Rate Loan or any change therein.
Appears in 2 contracts
Samples: Credit Agreement (MLC Holdings Inc), Credit Agreement (Eplus Inc)
LIBO Rate. Each LIBO Rate Loan shall bear interest on the principal amount thereof from the date made until such Loan is paid in full, renewed, or converted, at a rate per annum equal to the applicable LIBO Rate plus the Applicable Borrowing Margin. After receipt of a request for a LIBO Rate Loan, the Administrative Agent shall proceed Margin determined from time to determine the LIBO Rate to be applicable thereto. The Administrative Agent shall give prompt notice by telephone or facsimile to the Borrowers of the LIBO Rate thus determined in respect of each LIBO Rate Loan or any change thereintime.
Appears in 2 contracts
Samples: Loan and Agency Agreement (Intermagnetics General Corp), Loan and Agency Agreement (Intermagnetics General Corp)
LIBO Rate. Each LIBO Rate Loan shall bear interest on the principal amount thereof from the date made until such Loan is paid in full, renewed, full or converted, at a fixed rate per annum equal to the LIBO Rate plus the Applicable Borrowing Margin. After receipt of a request for a LIBO Rate Loan, the Administrative Agent shall proceed Margin determined from time to determine the LIBO Rate to be applicable thereto. The Administrative Agent shall give prompt notice by telephone or facsimile to the Borrowers of the LIBO Rate thus determined in respect of each LIBO Rate Loan or any change thereintime.
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LIBO Rate. Each LIBO Rate Loan shall bear interest on the principal amount thereof from the date made until such Loan is paid in full, renewed, or converted, at a rate per annum equal to the LIBO Rate plus the Applicable Borrowing Margin187.5 basis points. After receipt of a request for a LIBO Rate Loan, the Administrative Agent Bank shall proceed to determine the LIBO Rate to be applicable thereto. The Administrative Agent Bank shall give prompt notice by telephone or facsimile to the Borrowers ABL or FLC, as applicable, of the LIBO Rate thus determined in respect of each LIBO Rate Loan or any change therein. Not more than six LIBO Rate Loans shall be in existence at any one time.
Appears in 1 contract
Samples: Credit Agreement (American Business Financial Services Inc /De/)
LIBO Rate. Each LIBO Rate Loan shall bear interest on the principal amount thereof from the date made until such Loan is paid in full, renewed, or converted, at a rate per annum equal to the LIBO Rate plus the Applicable Borrowing Margin180 basis points. After receipt of a request for a LIBO Rate Loan, the Administrative Agent Bank shall proceed to determine the LIBO Rate to be applicable thereto. The Administrative Agent Bank shall give prompt notice by telephone or facsimile to the Borrowers CLC of the LIBO Rate thus determined in respect of each LIBO Rate Loan or any change therein. Not more than ten (10) LIBO Rate Loans shall be in existence at any one time in any combination of LIBO Rates applicable to the Loans.
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