LIBOR Fixed Rate Loans Clause Samples
The LIBOR Fixed Rate Loans clause establishes the terms under which a loan's interest rate is set based on the London Interbank Offered Rate (LIBOR) and remains fixed for a specified period. In practice, this means that the borrower and lender agree to a fixed interest rate derived from the prevailing LIBOR at the time the loan is made, and this rate does not fluctuate with market changes during the agreed term. This clause provides predictability for both parties by locking in borrowing costs and protecting against interest rate volatility.
LIBOR Fixed Rate Loans. The appropriate Borrower or Borrowers shall pay interest on the unpaid principal amount of each LIBOR Fixed Rate Loan outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin for LIBOR Fixed Rate Loans), at the Derived LIBOR Fixed Rate. Interest on such LIBOR Fixed Rate Loan shall be payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period shall exceed three months, the interest must be paid every three months, commencing three months from the beginning of such Interest Period).
LIBOR Fixed Rate Loans. Each Foreign Borrower (other than Canadian Borrower) shall pay interest on the unpaid principal amount of each Revolving Loan that
is a Eurodollar Loan or an Alternate Currency Loan outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), at the Derived LIBOR Fixed Rate. Interest on such LIBOR Fixed Rate Loans shall be payable on each Interest Adjustment Date (provided that if an Interest Period shall exceed three months, the interest shall be paid every three months, commencing three months from the beginning of such Interest Period). Canadian Borrower shall pay interest on each Alternate Currency Loan made to it in accordance with Schedule 2.1(d)(ii)(A) hereto.
LIBOR Fixed Rate Loans. TCC shall pay interest on the unpaid principal amount of each Revolving Loan that is a Eurodollar Loan or an Alternate Currency Loan outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), at the Derived LIBOR Fixed Rate. Interest on such LIBOR Fixed Rate Loans shall be payable on each Interest Adjustment Date (provided that if an Interest Period shall exceed three months, the interest shall be paid every three months, commencing three months from the beginning of such Interest Period).