LIBOR Rate Election. At any time and from time to time, provided no Libor Event as defined in Section 2.6d hereof has occurred and is continuing, the Borrower may irrevocably make a Libor Rate Election relating to Term Loans that specifies (i) expressed as a dollar amount, the portion of the aggregate outstanding principal amounts of Term Loans to which such Libor Rate Election relates, (ii) the Business Day that is to be the Libor Rate Period Commencement Date for the Libor Rate Period elected pursuant to such Libor Rate Election and (iii) whether a one-month, three-month or six-month option is elected as to the length of such Libor Rate Period; provided, however, that (I) such Libor Rate Period may not extend beyond the earlier of (A) March 31, 2008 or (B) the Maturity Date, (II) such Libor Rate Election may not change any election made pursuant to any prior Libor Rate Election and (III) such Libor Rate Election need not be honored by any Lending Entity if (1) such Libor Rate Election is received by the Agent more than five or less than three Business Days before such Libor Rate Period Commencement Date, (2) any Event of Default or Default occurs or exists before or on such Libor Rate Period Commencement Date, (3) the dollar amount specified in clause (i) of this sentence is not at least $2,000,000 and an integral multiple of $1,000,000 or (4) such Libor Rate Period would overlap more than eight other Libor Rate Periods. Each Libor Rate Period shall end on the day before the numerically corresponding day (or, if there is no numerically corresponding day, the last day) of the calendar month that is the number of months (e.g., one month, three months or six months) corresponding to the option elected pursuant to such Libor Rate Election, except that, if such numerically corresponding day (or such last day) is not a Business Day, such Libor Rate Period shall end on the day before the first Business Day following such numerically corresponding day (or such last day) unless such first Business Day does not fall in the same calendar month as such numerically corresponding day (or such last day), in which case such Libor Rate Period shall end on the date before the Business Day immediately preceding such numerically corresponding day (or such last day). The dollar amount specified in clause (i) of the first sentence of this Section 5.8 specified in any Libor Rate Election shall be allocated by the Agent among the Lenders so that the ratio, expressed as a percentage, of (i) the outs...
LIBOR Rate Election. All Loans made on the Closing Date shall be Base Rate Loans and remain so for ten (10) Business Days. Thereafter, Borrower may request that Revolving Loans to be made be LIBOR Rate Loans and that portions of outstanding Loans be converted to LIBOR Rate Loans. Any such request, which will be made by submitting a LIBOR Rate Loan request, in the form of Exhibit 1.2(G), to Xxxxxx, shall pertain to Loans in an aggregate minimum amount of $500,000 and integral multiples of $10,000 in excess thereof. Once given, a LIBOR Rate Loan request shall be irrevocable and Borrower shall be bound thereby. Upon the expiration of an Interest Period, in the absence of a new LIBOR Rate Loan request submitted to Xxxxxx not less than two (2) Business Days prior to the end of such Interest Period, the LIBOR Rate Loan then maturing shall be automatically converted to a Base Rate Loan. There may be no more than eight (8) LIBOR Rate Loans outstanding at any one time.
LIBOR Rate Election. Libor Rate Election" means any oral ------------------- (including, but not limited to, telephonic), written or other (including, but not limited to, facsimile) election to have the interest charged for any period on a portion of the aggregate outstanding principal amounts of all Loans determined by reference to the Libor Rate for such period.
LIBOR Rate Election. At any time and from time to time, ------------------- upon three
LIBOR Rate Election. All Loans made on the Effective Date shall be Base Rate Loans and remain so for thirty (30) days. Thereafter, Borrower Representative may request that Loans to be made be LIBOR Loans, that outstanding portions of the Loans be converted to LIBOR Loans and that all or any portion of a LIBOR Loan be continued as a LIBOR Loan upon expiration of the applicable Interest Period. Any such request will be made by submitting a LIBOR Loan request in the form of Exhibit B-2. Once given, a LIBOR Loan request shall be irrevocable and Borrowers shall be bound thereby. Upon the expiration of an Interest Period, in the absence of a new LIBOR Loan request submitted to Lender not less than three (3) Business Days prior to the end of such Interest Period, the LIBOR Loan then maturing shall be automatically converted to a Base Rate Loan. There may be no more than six (6) LIBOR Loans outstanding at any one time. Loans which are not the subject of a LIBOR Loan request shall be Base Rate Loans.
2.3 FEES (A)
LIBOR Rate Election. No more than three (3) LIBOR Rate borrowings may be outstanding at any time. Each LIBOR Rate draw must be at least One Million and 00/100 Dollars ($1,000,000) and, if greater, shall be in $250,000 increments.
LIBOR Rate Election. On the Restatement Effective Date, Borrower may request Base Rate Loans or LIBOR Loans. Borrower may request that Revolving Loans to be made be LIBOR Loans, that outstanding portions of the Term Loans be converted to LIBOR Loans and that all or any portion of a LIBOR Loan be continued as a LIBOR Loan upon expiration of the applicable Interest Period. Any such request will be made by submitting a LIBOR Loan request in the form of Exhibit 1.2(G). Once given, a LIBOR Loan request shall be irrevocable and Borrower shall be bound thereby. Upon the expiration of an Interest Period, in the absence of a new LIBOR Loan request submitted to Agent not less than three (3) Business Days prior to the end of such Interest Period (provided such prior notice may be less than three (3) Business Days with respect to LIBOR Loans borrowed on the Restatement Effective Date), the LIBOR Loan then maturing shall be automatically converted to a Base Rate Loan. There may be no more than six (6) LIBOR Loans outstanding at any one time. Loans which are not the subject of a LIBOR Loan request shall be Base Rate Loans. Agent will notify Lenders, by telephonic or facsimile notice, of each LIBOR Loan request received by Agent not less than two (2) Business Days prior to the first (1st) day of the Interest Period of the LIBOR Loan requested thereby.
LIBOR Rate Election. 17 ------------------- 1.3 Other Fees and Expenses . .
LIBOR Rate Election. All Loans made on the ------------------- Closing Date shall be Base Rate Loans and shall remain so for three (3) days. Thereafter, subject to the provisions of subsection 1.2(A), Borrower Representative shall have the option ---------- ------ to (1) convert at any time all or any part of outstanding Loans equal to $2,500,000 and integral multiples of $250,000 in excess of that amount from Base Rate Loans to LIBOR Loans or (2) upon the expiration of any Interest Period applicable to a LIBOR Loan, to (a) continue all or any portion of such LIBOR Loan equal to $2,500,000 and integral multiplies of $250,000 in excess of that amount as a LIBOR Loan or (b) convert all or any portion of such LIBOR Loan to a Base Rate Loan. Borrower Representative shall deliver a LIBOR Loan request no later than noon Chicago, Illinois time at least three (3) Business Days in advance of the proposed conversion/continuation date. A LIBOR Loan request shall state and certify:
(1) the proposed conversion/continuation date (which shall be a Business Day); (2) the amount of the Loan to be converted/continued;
LIBOR Rate Election. All Loans made on the Closing Date shall be Base Rate Loans and remain so for three (3) Business Days. Any LIBOR Loans made during the sixty (60) days immediately following such three (3) Business Days shall have an Interest Period of no more than thirty (30) days. Thereafter, Borrower may request, upon not less than three (3) Business Days' notice, that Revolving Loans to be made be LIBOR Loans and that outstanding portions of the Term Loan or the Acquisition Loans be converted to LIBOR Loans. Any such request, which will be made by submitting a LIBOR Loan request, in the form of Exhibit 1.2(G), shall pertain to Loans in an aggregate minimum amount of $500,000 and integral multiples of $10,000 in excess thereof. Once given, a LIBOR Loan request shall be irrevocable and Borrower shall be bound thereby. Upon the expiration of an Interest Period, in the absence of a new LIBOR Loan request submitted to Agent not less than three (3) Business Days prior to the end of such Interest Period, the LIBOR Loan then maturing shall be automatically converted to a Base Rate Loan. There may be no more than six (6) LIBOR Loans outstanding at any one time. Loans which are not the subject of a LIBOR Loan request shall be Base Rate Loans.
