Existing LIBOR Rate Loans definition

Existing LIBOR Rate Loans shall continue in full force and effect and shall continue to apply to each Existing LIBOR Rate Loan with an Interest Period (as defined in the Existing Credit Agreement) that commenced prior to the Closing Date solely until the expiration of the then current Interest Period for such Existing LIBOR Rate Loan; provided that from and after the Closing Date, (i) the Borrower shall not be permitted to request any Lender to fund, and no Lender shall fund, any Loan at the LIBOR Rate Option and (ii) no Loan may be continued as, or converted to, a Loan at the LIBOR Rate Option.

Existing LIBOR Rate Loans means the "LIBOR Rate Loans" (as such term is defined in the Prior Credit Agreement) made by the Existing Lenders to the Borrowers under the Prior Credit Agreement, as described on Schedule 1.1 (Existing Loans), which on the Closing Date shall be repaid in accordance with Section 12.21 of this Agreement.

Existing LIBOR Rate Loans means the two LIBOR Rate Loans (as such term is defined in the Original Credit Agreement) made by First Union to the Borrowers under the Original Credit Agreement, in the aggregate principal amount of $1,600,000, which shall be deemed converted to European Swingline Loans made as LIBOR Rate Loans on the Closing Date.

Examples of Existing LIBOR Rate Loans in a sentence

• Any such Existing LIBOR Rate Loans shall continue to be governed by the relevant provisions of the Existing Loan Agreement (as in effect immediately prior to the effectiveness of this Agreement) applicable to LIBOR Rate Loans until the earlier of (x) the repayment of such Loans or (y) the effective date of any conversion of such Loans pursuant to the Specified Conversion (as defined below).

• Any interest accrued on such Existing LIBOR Rate Loans prior to the Amendment No. 2 Effective Date will be payable to the Lenders on the relevant Interest Payment Date (as defined in the Credit Agreement immediately prior to giving effect to this Amendment).

• Any such Existing LIBOR Rate Loans shall continue to be governed by the relevant provisions of the Credit Agreement (as in effect immediately prior to the effectiveness of this Agreement) applicable to LIBOR Rate Loans until the earlier of (x) the repayment of such Loans or (y) the effective date of any conversion of such Loans pursuant to the conversion set forth in the immediately preceding sentence.

More Definitions of Existing LIBOR Rate Loans

Existing LIBOR Rate Loans shall have the meaning specified in Section 11.15(c) [Amendment and Restatement]. 165778087 Expiration Date shall mean, with respect to the Revolving Credit Commitments, December 22, 2027, subject to extension (in the case of each Lender consenting thereto) in accordance with Section 2.14. Extension shall have the meaning specified in Section 2.14(a) [Requests for Extension].

Existing LIBOR Rate Loans as defined in Section 2.3(e).

Existing LIBOR Rate Loans shall continue to accrue interest based on the LIBOR (plus the Applicable Margin applicable to such LIBOR Rate Loans as in effect immediately before the Amendment No. 4 Effective Date) and their applicable existing Interest Periods until the last day of the Interest Period applicable to each such Existing LIBOR Rate Loan, provided that in no event shall an Existing LIBOR Rate Loan be permitted to be continued as a LIBOR Rate Loan after the termination or expiration of its applicable Interest Period, and thereafter, all Existing LIBOR Rate Loans shall either be SOFR Loans or Base Rate Loans as determined in accordance with this Agreement, and (ii) subject to any express limitations set forth in the immediately preceding clause (i), the terms of the Agreement in effect