Daily LIBOR Loan means a LIBOR Loan with respect to which the rate is adjusted and determined daily.
Daily LIBOR Loan means a Loan described in Section 2.1 hereof on which Borrower shall pay interest at a rate based upon the Daily LIBOR Rate.
Daily LIBOR Loan means a Revolving Loan described in Section 2.2(a) hereof, or the Mexican Loan described in Section 2.5 hereof, that shall be denominated in Dollars and on which Borrowers shall pay interest at a rate based on the Derived Daily LIBOR Rate.
Examples of Daily LIBOR Loan in a sentence
Rather, such LIBOR Loan may be converted (in the manner described above) to a Daily LIBOR Loan on the last day of the Interest Period.
A Notice of Continuation received one (1) LIBOR Business Day before the end of an Interest Period may not effectuate a continuation of such Loan as a LIBOR Loan, other than a Daily LIBOR Loan, as of the last day of the Interest Period.
Except as elsewhere provided in this Agreement with respect to Prime Rate Loans, Revolving Credit Loans shall be Daily LIBOR Loan unless in accordance with this Agreement the Borrower has requested that a Revolving Credit Loan be another LIBOR Loan, in which case such Loan shall be the applicable other LIBOR Loans.
Each Daily LIBOR Loan shall bear interest at the Daily LIBOR Rate plus the Applicable Margin.
Core Molding shall pay interest on the unpaid principal amount of each Revolving Loan that is a Daily LIBOR Loan outstanding from time to time, from the date thereof until paid, at the Derived Daily LIBOR Rate from time to time in effect.
More Definitions of Daily LIBOR Loan
Daily LIBOR Loan means any Loan for which interest on all or a portion of the outstanding principal thereof is to be computed with reference to the Daily LIBOR Rate.
Daily LIBOR Loan means any portion of a Loan bearing interest based on the Daily LIBOR Rate. Debt shall mean, as of the date of determination thereof, the sum of (a) all indebtedness, liabilities and/or obligations of Borrower or any of its Subsidiaries for borrowed money or that have been incurred in connection with the purchase or other acquisition of property (other than unsecured trade accounts payable incurred in the ordinary course of business), plus (b) all leases of property, whether real and/or personal, by Borrower or any of its Subsidiaries as lessee(s), that in accordance with GAAP are required to be capitalized on the balance sheet of such entity, plus (c) the aggregate undrawn face amount of all Letters of Credit and/or surety bonds issued for the account and/or upon the application of Borrower or any of its Subsidiaries together with all unreimbursed drawings with respect thereto, plus (d) all guarantees by Borrower or any of its Subsidiaries of Debt of other Persons (but not including any guarantees of Debt of Borrower or any of its Subsidiaries). Default shall mean any event or condition the occurrence of that would, with the lapse of time or the giving of notice or both, become an Event of Default. Event of Default shall have the meaning ascribed thereto in Section 6. Fitch shall mean Fitch Ratings, Ltd. GAAP shall mean, at any time, generally accepted accounting principles at such time in the United States. Guaranty shall mean the Guaranty dated as of the date hereof, executed by Laclede Energy in favor of Lender, as the same may from time to time be amended, modified, extended, renewed or restated. Indemnified Liabilities shall have the meaning ascribed thereto in section 7.04.
Daily LIBOR Loan any Swing Line Loan and any 364 Day Loans bearing interest at the Daily LIBOR Rate.
Daily LIBOR Loan means a Revolving Loan described in Section 2.2(a) hereof, or the Mexican Loan described in Section 2.5 hereof, that shall be denominated in Dollars and on which a Borrower shall pay interest at a rate based on the Derived Daily LIBOR Rate. “Loan” means (a) a Revolving Loan, a Swing Loan, the Term Loan or a Capex Loan granted to Core Molding by the Lenders in accordance with Section 2.2(a), 2.2(c), 2.3 or 2.4 hereof, or (b) the Mexican Loan granted to Core Mexico by the Lenders in accordance with Section 2.5 hereof. “Maximum Revolving Amount” means Eighteen Million Dollars ($18,000,000), as such amount may be reduced pursuant to Section 2.12(e) hereof “Note” means a Revolving Credit Note, the Swing Line Note, the Term Note, a Capex Note or the Mexican Note, or any other promissory note delivered pursuant to this Agreement. 2. Amendment to Definition of “Daily LIBOR Rate”. The definition of “Daily LIBOR Rate” is hereby amended to delete subpart (a) therefrom and to insert in place thereof the following: “Daily LIBOR Rate” means, for any Daily Interest Period: (a) with respect to a Daily LIBOR Loan that is a Revolving Loan, or a Swing Loan, a per annum rate of interest (rounded upwards, if necessary, to the nearest 1/16th of 1%) at which, determined by Agent in accordance with its usual procedures (which determination shall be conclusive absent manifest error) as of approximately 11:00 A.M. (London time) two Business Days prior to the beginning of such Daily Interest Period, Dollar deposits in immediately available funds in an amount comparable to such Loan and with a maturity of one day are offered to the prime banks by leading banks in the London interbank market; and 3. Amendment to Definition of “Required Lenders”. The definition of “Required Lenders” is hereby amended to delete subpart (d) therefrom and to insert in place thereof the following: (d) [Reserved]. 4.
Daily LIBOR Loan means a Loan described in Section 2.1 hereof on which Borrower shall pay interest at a rate based upon the Daily LIBOR Rate. “Daily LIBOR RateSimple SOFR” shall mean, for any day, with respect to a Daily LIBOR Loan, the quotient (rounded upwards, if necessary, to the nearest one sixteenth of one percent (1/16th of 1%)) of: (a) the per annum rate of interest, determined by Agent in accordance with its usual procedures (which determination shall be conclusive absent manifest error) to be the average of the interest rates available to Agent in the interbank market in London, England at approximately 11:00 A.M. (London time), for that day, as provided by Bloomberg’s or Reuters (or any other similar company or service that provides rate quotations comparable to those currently provided by such companies) as the rate in the London interbank market for dollar deposits in immediately available funds with a maturity of one month, divided by (b) a number equal to 1.00 minus the Eurocurrency Reserve Percentage. In the event that such rate quotation is not available for any reason, then the rate (for purposes of clause (a) hereof) shall be the rate, determined by Agent as of approximately 11:00 A.M. (London time) two (2) Business Days prior to the beginning of the month pertaining to such Daily LIBOR Loan, to be the average (rounded upwards, if necessary, to the nearest one sixteenth of one percent (1/16th of 1%)) of the per annum rates at which dollar deposits in immediately available funds in an amount comparable to such Daily LIBOR Loan and with a maturity of one month are offered to the prime banks by leading banks in the London interbank market. The Daily LIBOR Rate shall be adjusted automatically on and as of(a “SOFR Rate Day”), a rate per annum (rounded in accordance with the Agent’s customary practice) equal to the greater of (A) SOFR for the day (such day, the “SOFR Determination Day”) that is five (5) SOFR Business Days (or such other period as determined by the Administrative Agent based on then prevailing market conventions) prior to (i) if such SOFR Rate Day is a SOFR Business Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a SOFR Business Day, the SOFR Business Day immediately preceding such SOFR Rate Day, in each case, as and when SOFR for such SOFR Rate Day is published by the Daily Simple SOFR Administrator on the SOFR Administrator’s Website and (B) the Floor. If by 5:00 pm (Cleveland, Ohio time) on the second (2nd) SOFR Business Day imm...
Daily LIBOR Loan set forth in Section 1.01 of the Credit Agreement is hereby amended to read, in its entirety, as follows: