Examples of Canadian LIBOR in a sentence
In the event that Canadian LIBOR is not determinable by the Servicer or it becomes impossible or illegal for the Servicer to calculate interest on the Canadian Funded Participations based upon Canadian LIBOR, the parties agree that in such event that interest on the Canadian Funded Participations shall bear interest at a rate per annum equal to the Canadian Prime Rate plus a mutually agreed upon spread based upon current market conditions.
Upon delivery of such notice, Borrowers shall prepay or, if applicable, convert all U.S. LIBOR Loans, Canadian LIBOR Loans or BA Rate Loans of such Lender to U.S. Base Rate Loans, Canadian Base Rate Loans or Canadian Prime Rate Loans, as applicable, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such LIBOR Loans or BA Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such LIBOR Loans or BA Rate Loans.
With respect to any Canadian Base Rate Loan or Canadian Prime Rate Loan converted into a Canadian LIBOR Loan or BA Rate Loan pursuant to Section 2.2.1 on a day when interest would not otherwise have been payable with respect to such Canadian Base Rate Loan or Canadian Prime Rate Loan, accrued interest to the date of such conversion on the amount of such Canadian Base Rate Loan or Canadian Prime Rate Loan so converted shall be paid on the conversion date.
Each prepayment shall be applied in the following order: first to Base Rate Advances comprising Canadian Loans to the full extent thereof and second to Canadian LIBOR Advances comprising Canadian Loans to the full extent thereof.
The interest rate under the Canadian loan facility is Canadian LIBOR plus 2.50%, or 4.55% at December 31, 2008 (7.05% – 2007).
Canadian Loans denominated in U.S. Dollars that bear interest calculated by reference to the Canadian LIBOR Rate.
No Interest Period relating to the Canadian Term Loan or any portion thereof bearing interest at the Canadian LIBOR Rate shall extend beyond the date on which the regularly scheduled installment payments of the principal of the Canadian Term Loan is to be made, unless a portion of the Canadian Term Loan at least equal to such installment payments has an Interest Period ending on such date.
Loans bearing interest calculated by reference to the Domestic LIBOR Rate (other than, for the avoidance of doubt, Domestic Base Rate Loans bearing interest by reference to the Domestic LIBOR Rate as provided in the definition of “Domestic Base Rate”), Canadian LIBOR Rate, Sterling LIBOR Rate, EURIBOR Rate, or U.K. Dollar LIBOR Rate, as the case may be.
Interest rates on these borrowings can be either the Canadian prime rate or the Canadian LIBOR rate plus a spread of 0.5%.
All computations of interest on LIBOR Rate Loans, Canadian LIBOR Rate Loans and of Commitment Fees, Letter of Credit Fees or other fees shall, unless otherwise expressly provided herein, be based on a 360-day year and paid for the actual number of days elapsed.