LIBOR Provisions. (a) Subject to the provisions of Section 3.1(c) hereof, Borrowing Agent may request that the Term Loan be made as LIBOR Rate Loans, that outstanding portions of the Term Loan be converted to LIBOR Rate Loans and that all or any portion of a LIBOR Rate Loan be continued as a LIBOR Rate Loan upon expiration of the applicable Interest Period. Any such request will be made by submitting a Notice of Borrowing to Agent. Upon the expiration of an Interest Period, in the absence of a new Notice of Borrowing submitted to Agent not less than by 11:00 a.m. (Chicago time) three (3) Business Days prior to the end of such Interest Period, the LIBOR Rate Loan then maturing shall be automatically converted to a LIBOR Rate Loan with a one month Interest Period. There may be no more than six (6) LIBOR Rate Loans outstanding at any one time. Loans which are not requested as LIBOR Rate Loans in accordance with this Section 3.2(a) shall be Prime Rate Loans. Agent will promptly notify Lenders, by written notice, of each Notice of Borrowing received by Agent prior to the first day of the Interest Period of the LIBOR Rate Loan requested thereby.
LIBOR Provisions. (i) [Reserved].
LIBOR Provisions. The following special provisions relate to LIBOR Rate Loans and, as applicable, to Base Rate Loans:
LIBOR Provisions. A. In the event that, by reason of any Regulation, (i) Lenders incur Additional Costs based on or measured by the amount of (1) a category of deposits or other liabilities of Lenders which includes deposits by reference to which the LIBOR Based Rate is determined as provided in this Loan Agreement and/or (2) a category of extensions of credit or other assets of Lenders which includes loans, the interest on which is determined on the basis of rates referred to in the definition of “LIBOR Rate”, (ii) Lenders become subject to restrictions on the amount of such a category of liabilities or assets which it may hold, or (iii) it shall be unlawful or impractical for Lenders to make or maintain the Loans (or any portion thereof) at the LIBOR Based Rate, then at Administrative Agent’s option and election, Lenders’ obligation to make or maintain the Loans (or portions thereof) at the LIBOR Based Rate (and Borrower’s right to request the same) shall be suspended and Administrative Agent shall give notice thereof to Borrower and, upon the giving of such notice, interest payable hereunder at the LIBOR Based Rate shall be converted to the Base Rate, unless Lenders may lawfully continue to maintain the Loan (or any portion thereof) then bearing interest at the LIBOR Based Rate to the end of the current Interest Period(s), at which time the interest rate shall convert to the Base Rate. If subsequently Administrative Agent reasonably determines that such Regulation has ceased to be in effect, or has ceased to result in the circumstances described in clauses (i), (ii) and (iii) of this paragraph, then Administrative Agent will so advise Borrower and Borrower may convert the rate of interest payable hereunder with respect to those portions of the Principal Amount bearing interest at the Base Rate to a LIBOR Based Rate by submitting a LIBOR Request in respect thereof and otherwise complying with the provisions of this Agreement with respect thereto.
LIBOR Provisions. Notwithstanding anything to the contrary in this Agreement, in the event that, by reason of any Regulatory Change (for purposes hereof "Regulatory Change" shall mean, with respect to the Agent or any Lender, any change after the date of this Agreement in United States Federal, state or foreign law or regulations (including, without limitation, Regulation D) or the adoption or making after such date of any interpretation, directive or request applying to a class of banks including the Agent or any Lender of or under any United States Federal, state or foreign law or regulations (whether or not having the force of law and whether or not failure to comply therewith would be unlawful)), the Agent or any Lender either (a) incurs any material additional costs based on or measured by the excess above a specified level of the amount of a category of deposits or other liabilities of such bank which includes deposits by reference to which the interest rate on LIBOR Loans is determined as provided in this Financing Agreement or a category of extensions of credit or other assets of the Agent or any Lender which includes LIBOR Loans or (b) becomes subject to any material restrictions on the amount of such a category of liabilities or assets which it may hold, then, if the Agent or the Required Lenders so elect by notice to the Companies the obligation of the Agent and the Lenders to make or continue, or to convert Chase Bank Rate Loans into LIBOR Loans hereunder shall be suspended until such Regulatory Change ceases to be in effect.
LIBOR Provisions. 2.1. LIBOR Option 2.2. Certain Definitions 2.3. Conditions for Basing Interest on the LIBOR Rate 2.4. Indemnification for Funding and Other Losses 2.5. Change in Applicable Laws, Regulations, etc.
LIBOR Provisions. (a) The Borrower shall hedge the floating interest expense of the Loan evidenced by the Note by maintaining one or more interest rate swap agreements in an aggregate notional amount equal to the principal balance of the Note outstanding over such term that the hedge is executed and providing for a fixed rate acceptable to Lender, with the Borrower making fixed rate payments and receiving floating rate payments to offset changes in the variable interest expense of the Note, all upon such terms and conditions as shall be acceptable to Lender. To establish this interest rate hedge, the Borrower and the Lender have entered into the Hedging Contracts.
LIBOR Provisions. In the notice of borrowing delivered pursuant to Section 4.01(a)(v), the Borrower shall specify the Interest Period used to determine the LIBOR Rate as of the Closing Date. Upon the expiration of each Interest Period, in the absence of the Borrower providing written notice to the Agent not less than three (3) Business Days prior to the end of such Interest Period electing a different Interest Period, the same Interest Period shall be used to determine the LIBOR Rate for the immediately succeeding Interest Period. If the Borrower provides written notice electing a new Interest Period, then such new Interest Period and the corresponding LIBOR Rate shall be used.
LIBOR Provisions. 44 Section 2.17. Taxes ......................................................................................................... 45 Section 2.18. Obligations of Lenders Several ................................................................. 49 Section 2.19. Defaulting Lenders.................................................................................... 49 Section 2.20. Mitigation Obligations; Replacement of Lenders ..................................... 51 Section 2.21. Payments by Borrower; Presumptions by Administrative Agent ......................................................................................................... 52
LIBOR Provisions. (a Manner of Rate Selection. Sundance on behalf of the applicable Borrower(s) shall notify Agent by 11:00 a.m. (Chicago time) at least three Business Days prior to the date upon which Sundance requests that any LIBOR Portion be created or that any part of the Prime Rate Portion be converted into a LIBOR Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). If any request is made to convert a LIBOR Portion into the Prime Rate Portion, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance and conversion of a LIBOR Portion or a Prime Rate Portion shall be irrevocable.
