Examples of CBFR Loan in a sentence
If the Borrower Representative fails to notify the Lender at the time of the conversion whether the CapEx Term Loan will be a CBFR Loans or a Eurodollar Loans, then the CapEx Term Loan will be a CBFR Loan.
Each Domestic Swingline Loan shall be a CBFR Loan and each Canadian Swingline Loan shall be a CP Loan or a USBR Loan.
Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Lender so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Loan may be converted to or continued as a Eurodollar Loan and (ii) unless repaid, each Eurodollar Loan shall be converted to a CBFR Loan at the end of the Interest Period applicable thereto.
To request a Borrowing, the Borrower shall notify the Lender of such request by telephone (a) in the case of a Eurodollar Loan, not later than 11:00 a.m., Houston time, three Business Days before the date of the proposed Borrowing or (b) in the case of a CBFR Loan, not later than 10:00 a.m., Houston time, on the date of the proposed Borrowing.
Each Domestic Swingline Loan shall be a CBFR Loan, each Canadian Swingline Loan shall be a CP Loan or a USBR Loan and each European Swingline Loan shall be an Overnight LIBO Rate Loan.
The actual CBFR Loan rate at December 31, 2020 was2.25% (lender’s prime rate of 3.25% minus 1.00%).
At such a time as a Sweep Agreement is not in effect, if such an election is not made or if an applicable Interest Period has expired without renewal, any Loan for which an election is not made or for which an applicable Interest Period has so expired shall be a CBFR Loan and shall bear interest at the CB Floating Rate except that the CB Floating Rate floor shall be the Adjusted One Month LIBOR Rate and not the Adjusted Daily One Month LIBOR Rate.
The actual CBFR Loan rate at September 30, 2019 was 5.00% (lender’s prime rate of 5.00%).
If no election as to the Type of Loan is specified, then the requested Loan shall be a CBFR Loan.
The actual CBFR Loan rate at December 31, 2020 was 2.25% (lender’s prime rate of 3.25% minus 1.00%).