Floating LIBOR Advance definition

Floating LIBOR Advance means an Advance designated as such in a notice of borrowing under Section 2.3 or a notice of continuation or conversion under Section 2.4.
Sample 1Sample 2Sample 3
Floating LIBOR Advance means an Advance designated as such in a notice of borrowing under Section 2.2 or a notice of continuation or conversion under Section 2.3 or as referred to in Section 3.1(a).
Sample 1
Floating LIBOR Advance. An Advance designated as such in a notice of borrowing under Section 2.3 or a notice of continuation or conversion under 2.4 or as referred to in Section 3.1(a)."
Sample 1

Examples of Floating LIBOR Advance in a sentence

  • Each Floating LIBOR Advance or Base Rate Advance of the Swing Line Loans shall be in a minimum amount of $5,000 or an integral multiple thereof above such amount.

  • Each partial prepayment of a Swing Line Loan that is a Floating LIBOR Advance or Base Rate Advance shall be in an amount of $5,000 or an integral multiple thereof above such amount, or if less, the remaining principal balance.

  • The unpaid principal amount of each Floating LIBOR Advance shall bear interest prior to maturity at a rate per annum equal to the LIBOR Rate in effect for each day plus the Applicable Margin for Fixed LIBOR Advances.

  • Each Floating LIBOR Advance and Base Rate Advance shall continue as a Floating LIBOR Advance or Base Rate Advance (as the case may be) until notice of conversion shall be given as provided above.

  • Until an alternate rate of interest shall be determined in accordance with this Section 2.23(b), any request for a LIBOR Advances or Daily Floating LIBOR Advances that requests the conversion of any Advance to, or continuation of any Advance as, a LIBOR Advance or Daily Floating LIBOR Advance shall be ineffective and any such Advance shall be continued as or converted to, as the case may be, a Prime Rate Advance.

  • In the event the Borrower does not timely select another interest rate option at least two New York Banking Days before the end of the Loan Period for a Fixed LIBOR Advance, the Bank may at any time after the end of the Loan Period convert the Fixed LIBOR Advance to a Floating LIBOR Advance, but until such conversion, the funds advanced under the Fixed LIBOR Advance shall continue to accrue interest at the same rate as the interest in effect for such Fixed LIBOR Advance prior to the end of the Loan Period.

  • The unpaid principal amount of each Floating LIBOR Advance shall bear interest prior to maturity at a rate per annum equal to the 37 LIBOR Rate in effect for each day plus the Applicable Margin for Fixed LIBOR Advances.

  • Notwithstanding anything in this Agreement to the contrary, in the event the Borrower does not timely select another interest rate option at least 2 banking days before a Fixed LIBOR Advance expires, the Bank may at any time thereafter convert the Fixed LIBOR Advance to a Floating LIBOR Advance, but until such conversion, the funds advanced under the expired Fixed LIBOR Advance shall continue to accrue interest at the same rate as the interest rate under such expired Fixed LIBOR Advance as applicable.

  • The unpaid principal amount of each Floating LIBOR Advance shall bear interest prior to maturity at a rate per annum equal to the LIBOR Rate in effect for each day plus the Applicable Margin.

Related to Floating LIBOR Advance

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Floating Rate Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the Floating Rate.

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Eurocurrency Rate.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Eurocurrency Base Rate means, for such Interest Period:

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • LIBOR has the meaning specified in the definition of Eurodollar Rate.

  • LIBOR Interest Period means, as to any advance to which the LIBOR Option applies, the period of one (1), two (2), three (3) or six (6) months as selected by the Borrower in its notice of borrowing or notice of conversion, as the case may be, commencing on the date of disbursement of an advance (or the date of conversion of an advance to the LIBOR Option, as the case may be) and each successive period selected by the Borrower thereafter; provided that, (i) if a LIBOR Interest Period would end on a day which is not a Business Day, it shall end on the next succeeding Business Day unless such day falls in the next succeeding calendar month in which case the LIBOR Interest Period shall end on the next preceding Business Day, (ii) the Borrower may not select a LIBOR Interest Period that would end on a day after the Expiration Date, and (iii) any LIBOR Interest Period that begins on the last Business Day of a calendar month (or a day for which there is no numerically corresponding day in the last calendar month of such LIBOR Interest Period) shall end on the last Business Day of the last calendar month of such LIBOR Interest Period.

  • ABR Advance means an Advance which bears interest at the ABR Rate.

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.