Existing LIBOR Loans definition

Existing LIBOR Loans as defined in Section 10.20(b).

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Existing LIBOR Loans shall continue as Loans bearing interest at the Eurodollar Rate until the end of the Interest Period (as defined in the Existing Credit Agreement) currently in effect and applicable to such Existing LIBOR Loans; provided, that prior to the end of the Interest Period (as defined in the Existing Credit Agreement) currently in effect and applicable to such Existing LIBOR Loans, the Borrower shall deliver to the Administrative Agent a Borrowing Request pursuant to Section 2.2 of this Agreement requesting a conversion of such Existing LIBOR Loans to Term Benchmark Loans (bearing interest at the Term SOFR Rate) or ABR Loans, and failing delivery of such timely notice of such conversion shall be deemed to have selected a conversion of such Existing LIBOR Loans into Term Benchmark Loans bearing interest at the Term SOFR Rate with an Interest Period of one month; provided further that on the Closing Date, such Existing LIBOR Loans shall be reallocated among the Lenders such that on the Closing Date, each Lender holds its Aggregate Exposure Percentage of each outstanding Existing LIBOR Loan.

Existing LIBOR Loans the LIBOR Loans outstanding as of the First Amendment Effective Date.

Examples of Existing LIBOR Loans in a sentence

Thereafter, the obligation of the Lenders to make or maintain LIBOR Loans (other than the Term Loan P) shall be suspended, (to the extent of the affected Existing LIBOR Loans or interest periods).
All renewals of Loans, including Existing LIBOR Loans, shall be at the Base Rate Option in accordance with Section 4.1.1.(ii).
Such Existing LIBOR Loans may continue to bear interest at the LIBOR Rate Option until their current monthly Interest Period expires, at which time such Existing LIBOR Loans shall convert to Loans that bear interest at the Base Rate Option.
Upon receipt of such notice, the Borrower may revoke any pending request for a conversion to or continuation of LIBOR Loans (other than the Term Loan P and to the extent of the affected Existing LIBOR Loans or interest periods) or, failing that, will be deemed to have converted such request into a request for a conversion to Base Rate Loans or continuation of Base Rate Loans (subject to the foregoing clause (y)) in the amount specified therein.
For the avoidance of doubt, (i) any new Loans requested on or after the Sixth Amendment Effective Date shall be either Base Rate Loans or SOFR Loans and (ii) Existing LIBOR Loans may not be continued as “LIBOR Rate Loans” (as defined in this Agreement as in effect prior to the Sixth Amendment Effective Date).

More Definitions of Existing LIBOR Loans

Existing LIBOR Loans means the Loans outstanding as of the Sixth Amendment Effective Date.

Existing LIBOR Loans has the meaning specified in Section 2.06(d).

Existing LIBOR Loans shall remain “LIBOR Loans” (without giving effect to the changes made herein as of the Third Amendment Effective Date) until the end of the current Interest Period for such Existing LIBOR Loans, at which time they shall automatically be converted in a cashless transaction to Term SOFR Loans having a one-month tenor unless (i) on or before 11:00 a.m. at least two (2) Business Days prior to the end of the applicable Interest Period for such Existing LIBOR Loans, the Borrower delivers a Loan Notice to the Administrative Agent indicating that such Existing LIBOR Loans shall be converted to a Term SOFR Loan having an Interest Period of an alternate duration and otherwise in accordance with the requirements set forth for such Loan Notice in Section 2.02(a), or (ii) such Existing LIBOR Loans are prepaid by the Borrower in accordance with the terms of this Agreement.

Existing LIBOR Loans shall continue as Loans bearing interest at the Eurodollar Rate (as defined in the Credit Agreement immediately prior to the Amendment Effective Date) until the end of the Interest Period currently in effect and applicable to such Existing LIBOR Loans; provided, that prior to the end of the Interest Period currently in effect and applicable to such Existing LIBOR Loans, the Borrower shall deliver to the Administrative Agent a Notice of Borrowing pursuant to Section 2.5 of the Credit Agreement (as amended hereby) requesting a conversion of such Existing LIBOR Loans to Term Benchmark Loans (bearing interest at Adjusted Term SOFR) or Base Rate Loans, and failing delivery of such timely notice of such conversion shall be deemed to have selected a conversion of such Existing LIBOR Loans into Term Benchmark Loans bearing interest at the Adjusted Term SOFR Rate with an Interest Period of one month.

Existing LIBOR Loans shall continue

Existing LIBOR Loans. [Term Benchmark Loans] [Base Rate Loans] Base Rate Loans Base Rate Loan

Existing LIBOR Loans shall, at the end of the Interest Period applicable thereto, automatically be converted into Loans bearing interest based upon Term SOFR with a one month Interest Period. Any such Existing LIBOR Loans shall continue to be governed by the relevant provisions of the Credit Agreement applicable to Eurodollar Loans denominated in Dollars until the earlier of (x) the repayment of such Loans and (y) the conversion of such Existing LIBOR Loans to Term SOFR Loans pursuant to this clause (b).