Limitation on LIBOR Based Rate Loans Sample Clauses

Limitation on LIBOR Based Rate Loans. Upon the occurrence and continuance of an Event of Default described in Section 8 below, the Agent may in its sole discretion eliminate the availability of LIBOR Based Rate Loans.
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Limitation on LIBOR Based Rate Loans. Upon the occurrence and ------------------------------------ during the continuance of an Event of Default, Agent may in its sole discretion eliminate the availability of new LIBOR Based Rate Loans. Following the occurrence of an Event of Default and written notice from Agent that the Obligations have been accelerated, all existing LIBOR Based Rate Loans shall, at Agent's option, convert to a Base Rate Loan, which conversion is independent of Agent's rights under Section 2.5(c).
Sample 1
Limitation on LIBOR Based Rate Loans. All Loans not specifically designated by Borrower, pursuant to the terms hereof or not requested in conformity with the terms hereof, shall be Base Rate Loans. No LIBOR Based Rate Loans shall be requested by Borrower or made available by Lender if a Default or an Event of Default has occurred and is continuing hereunder. No more than five (5) LIBOR Based Rate Loans may be outstanding at any one time.
Sample 1
Limitation on LIBOR Based Rate Loans. Upon the occurrence and continuance of an Event of Default and following written notice from Agent to Borrower, Agent may in its sole discretion, or the Majority Lenders shall have the right to cause Agent to, eliminate the availability of LIBOR Based Rate Loans.
Sample 1
Limitation on LIBOR Based Rate Loans. Upon the occurrence ------------------------------------ and during the continuance of an Event of Default, Agent may, and the Majority Lenders shall have the option to instruct the Agent to, eliminate the availability of new LIBOR Based Rate Loans."
Sample 1
Limitation on LIBOR Based Rate Loans. Upon the occurrence and continuance of an Event of Default, and following written notice from Administrative Agent to Borrower, Administrative Agent may, in its sole discretion, or shall at the direction of the Majority Lenders, eliminate the availability of LIBOR Based Rate Loans, whether by request for a new LIBOR Based Rate Loan, the continuation or extension of an existing LIBOR Based Rate Loan or the conversion of all or any portion of the Based Rate Loan to LIBOR Based Rate Loan.
Sample 1
Limitation on LIBOR Based Rate Loans. Upon the occurrence and ------------------------------------ during continuance of an Event of Default, Lender may in its sole discretion eliminate the availability of LIBOR Based Rate Loans.
Sample 1
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Related to Limitation on LIBOR Based Rate Loans

  • Limitation on Eurodollar Loans If on or prior to the first day of any Interest Period for any Eurodollar Loan:

  • Reserves on LIBOR Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error), payable on each date on which interest is payable on such Loan provided the Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to Agent) of such additional interest from the Lender. If a Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

  • Limitation on Prepayment of LIBOR Rate Loans The Borrower may not prepay any LIBOR Rate Loan on any day other than on the last day of the Interest Period applicable thereto unless such prepayment is accompanied by any amount required to be paid pursuant to Section 5.9 hereof.

  • Limitation on Repayment of LIBOR Rate Loans The Borrower may not repay any LIBOR Rate Loan on any day other than on the last day of the Interest Period applicable thereto unless such repayment is accompanied by any amount required to be paid pursuant to Section 5.9 hereof.

  • Suspension of LIBOR Rate Loans In the event that, prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, the Agent shall determine that adequate and reasonable methods do not exist for ascertaining LIBOR for such Interest Period, or the Agent shall reasonably determine that LIBOR will not accurately and fairly reflect the cost of the Lenders making or maintaining LIBOR Rate Loans for such Interest Period, the Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders absent manifest error) to the Borrower and the Lenders. In such event (a) any Loan Request with respect to a LIBOR Rate Loan shall be automatically withdrawn and shall be deemed a request for a Base Rate Loan and (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period applicable thereto, become a Base Rate Loan, and the obligations of the Lenders to make LIBOR Rate Loans shall be suspended until the Agent determines that the circumstances giving rise to such suspension no longer exist, whereupon the Agent shall so notify the Borrower and the Lenders.

  • Application of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans Considering each Class of Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

  • 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.

  • 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.

  • Booking of LIBOR Rate Loans Any Lender may make, carry or transfer LIBOR Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

  • Reserves on Eurodollar Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

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