LIBOR Borrowing. The term “LIBOR BORROWING” means each amount of the unpaid principal balance of a LOAN which is designated by the BORROWER in accordance with the terms of this AGREEMENT to accrue interest at the ADJUSTED LIBOR RATE for a separately designated INTEREST PERIOD.
Appears in 2 contracts
Samples: Loan and Security Agreement (Martek Biosciences Corp), Loan and Security Agreement (Martek Biosciences Corp)
LIBOR Borrowing. The term “LIBOR BORROWING” means each amount of the unpaid principal balance of a the LOAN which is designated by the BORROWER BORROWERS in accordance with the terms of this AGREEMENT to accrue interest at the ADJUSTED LIBOR RATE for a separately designated INTEREST PERIOD.
Appears in 2 contracts
Samples: Loan and Security Agreement (Avatech Solutions Inc), Loan and Security Agreement (Avatech Solutions Inc)
LIBOR Borrowing. The term “LIBOR BORROWING” BORROWING means each amount advance of the unpaid principal balance proceeds of a LOAN which is designated by the BORROWER in accordance with the terms of this AGREEMENT to accrue accruing interest at based upon the ADJUSTED LIBOR RATE for a separately designated separate INTEREST PERIOD.
Appears in 1 contract
