LIBOR Advance Sample Clauses

LIBOR Advance. The Borrower may obtain Advances by submitting an Advance request, in the form attached hereto as Exhibit "A" two (2) Business Days prior to the date on, which the Advance is to be made during the Advance Period at the "LIBOR Rate" (defined below) for the "Applicable Interest Period" (defined below) plus forty (40) basis points. Each Advance requested under this Section 3(a) shall be in the minimum amount of $100,000. The term "LIBOR" or "LIBOR Rate" shall mean, as applicable to any Advance under this Section 3(a) (a "LIBOR Advance"), the rate per annum as determined on the basis of the offered rates for deposits in U.S. Dollars, for one (1) month, two (2) months, three (3) months, four (4) months, six (6) months or twelve (12) months as specified by the Borrower (the "Interest Period") which appears on the Telerate page 3750 as of 11:00 a.m. London time on the day that is two London Banking Days preceding the first day of such LIBOR Advance; provided, however, if the rate described above does not appear on the Telerate System on any applicable interest determination date, the LIBOR rate shall be the rate (rounded upward, if necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in U.S. dollars for a period of time comparable to such LIBOR Advance which are offered by four major banks in the London interbank market at approximately 11:00 a.m. London time, on the day that is two (2) London Banking Days preceding the first day of such LIBOR Advance as selected by Bank. The principal London office of each of the four major London banks will be requested to provide a quotation of its U.S. Dollar deposit offered rate. If at least two such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that date will be determined on the basis of the rates quoted for loans in U.S. dollars to leading European banks for a period of time comparable to such LIBOR Advance offered by major banks in New York City at approximately 11:00 a.m. New York City time, on the day that is two London Banking Days preceding the first day of such LIBOR Advance. In the event that Bank is unable to obtain any such quotation as provided above, it will be deemed that LIBOR pursuant to a LIBOR Advance cannot be determined. In the event that the Board of Governors of the Federal Reserve System shall impose a Reserv...
Sample 1
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LIBOR Advance. For the Libor Advance, interest or fees, as applicable, will be calculated and payable in the manner set forth in Schedule A attached hereto and made a part hereof.
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LIBOR Advance. An Advance bearing interest calculated by reference to ------------- LIBOR.
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LIBOR Advance. The term "Libor Advance" means any principal outstanding under this Note which pursuant to this Note bears interest at the Libo Rate.
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LIBOR Advance. The term “LIBOR Advance” means any principal outstanding under a Loan which bears interest based on LIBOR.
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LIBOR Advance. Each LIBOR Advance shall bear interest on the outstanding principal amount thereof, for each day during each LIBOR Period applicable thereto, at a fixed rate per annum equal to LIBOR plus two and three quarters percent (2.75%); provided, however that if Borrower earns Net Income in excess of Zero and 00/l00 Dollars ($0.00) in a fiscal quarter, then each LIBOR Advance shall bear interest on the outstanding principal amount thereof, for each day during each LIBOR Period applicable thereto, at a fixed rate per annum equal to LIBOR plus two and one quarter percent (2.25%).
Sample 1
LIBOR Advance. The Borrower may elect, effective on the last day of the then current Interest Period applicable thereto: (i) to convert a LIBOR Advance to (x) a Floating Rate Advance, in a principal amount equal to the Equivalent Cdn. $ Amount of such LIBOR Advance determined on the date of such conversion, or (y) a US Base Rate Advance; or (ii) to have such LIBOR Advance continued as such Type of Advance for an additional Interest Period. If the Borrower has made no such election, on the expiry of the then current Interest Period, such Advance shall be automatically converted to a US Base Rate Advance, effective on the last day of such Interest Period.
Sample 1
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LIBOR Advance. A Borrower may elect, effective on the last day of the then current Interest Period applicable thereto: (i) to convert a LIBOR Advance to a U.S. Base Rate Advance or, in the case of a Canadian Borrower, to a Floating Rate Advance or a Bankers’ Acceptance (or BA Equivalent Note); or (ii) to have such LIBOR Advance continued as such Type of Advance for an additional Interest Period. If a Borrower has made no such election, on the expiry of the then current Interest Period, such LIBOR Advance shall be automatically converted to a U.S. Base Rate Advance, effective on the last day of such Interest Period.
Sample 1

Related to LIBOR Advance

  • LIBOR Advances The interest rate applicable to each LIBOR Advance shall be determined in accordance with Section 3.6(a) hereunder. Subject to Sections 3.6 and 3.7, such rate shall apply during the entire Interest Period applicable to such LIBOR Advance, and interest calculated thereon shall be payable on the Interest Payment Date applicable to such LIBOR Advance.

  • 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 Advances During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full.

  • Interest Period Commencing on the first (1st) Payment Date of the month following the month in which the Funding Date of the applicable Term Loan Advance occurs, and continuing on each Payment Date thereafter, Borrower shall make monthly payments of interest on the principal amount of each Term Loan Advance at the rate set forth in Section 2.2(a).

  • 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.

  • Eurocurrency Rate Advances During such periods as such Advance is a Eurocurrency Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurocurrency Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurocurrency Rate Advance shall be Converted or paid in full.

  • Eurodollar Advances Each Eurodollar Advance shall bear interest during its Interest Period equal to at all times the Eurodollar Rate for such Interest Period plus the Applicable Margin for Eurodollar Advances for such period. The Borrower shall pay to the Administrative Agent for the ratable account of each Lender all accrued but unpaid interest on each of such Lender’s Eurodollar Advances on the last day of the Interest Period therefor (provided that for Eurodollar Advances with Interest Periods of six months or more, accrued but unpaid interest shall also be due on the day three months from the first day of such Interest Period), on the date any Eurodollar Advance is repaid, and on the Maturity Date.

  • 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.

  • 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.

  • Eurodollar Loans The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin, but in no event to exceed the Highest Lawful Rate.

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