Floating LIBOR Rate Loan definition

Floating LIBOR Rate Loan means, as of any date of determination, a Loan where the Loan Rate payable by the Obligor thereof in respect of the majority of the Outstanding Loan Balance of such Loan is based on the Underlying LIBOR Rate plus some specified percentage in addition thereto, and the Loan provides that such Loan Rate will reset upon any change in the related Underlying LIBOR Rate.
View Source
Floating LIBOR Rate Loan means a Loan that bears interest based on the Floating LIBOR Rate (as selected by Borrower pursuant to Section 2.02).
View Source
Floating LIBOR Rate Loan means any Loan or other principal outstanding under this Agreement which bears interest at the Adjusted Floating LIBOR Rate. Future Commitment as defined in Section 11.13. GAAP means generally accepted accounting principles in the United States applied on a consistent basis and subject to Section 1.4.
View Source

Examples of Floating LIBOR Rate Loan in a sentence

  • Each Swing Line Loan shall be a Base Rate Loan or a Daily Floating LIBOR Rate Loan.

  • Until each Revolving Credit Lender funds its Base Rate Loan, Daily Floating LIBOR Rate Loan or risk participation pursuant to this Section 2.05 to refinance such Revolving Credit Lender’s Applicable Revolving Credit Percentage of any Swing Line Loan, interest in respect of such Applicable Revolving Credit Percentage shall be solely for the account of the Swing Line Lender.

  • From and after the Effective Date, (i) each reference to the "Prime Rate" appearing in the Credit Agreement or any Note shall be deemed a reference to the Daily Floating LIBOR Rate, (ii) each reference to the "Adjusted Prime Rate" appearing in the Credit Agreement or any Note shall be deemed a reference to the Adjusted Daily Floating LIBOR Rate, and (iii) each reference to a "Prime Rate Loan" shall be deemed a reference to a Daily Floating LIBOR Rate Loan.

  • Each Swingline Loan denominated in Dollars shall be made as a Daily Floating LIBOR Rate Loan and each Swingline Loan denominated in Euros and Sterling shall be made as a Euro Swingline Rate Loan and, in each case, subject to Section 2.6(a)(iii), shall have such maturity date as agreed to by the Swingline Lender and the Parent Borrower.

  • If the date upon which a Fixed LIBOR Rate Loan is to be converted to a Floating LIBOR Rate Loan is not a Business Day, then such conversion shall be made on the next succeeding Business Day and during the period from such last day of an Interest Period to such succeeding Business Day such Loan shall bear interest as if it were an Floating LIBOR Rate Loan.

  • For purposes of calculating amounts payable by the Company to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan or Daily Floating LIBOR Rate Loan made by it at the Eurodollar Rate or the Daily Floating LIBOR Rate, as applicable, for such Loan by a matching deposit or other borrowing in the offshore interbank market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded.

  • If such notice is given: (A) any Floating LIBOR Rate Loans requested to be made on the first day of such Interest Period shall be made as Prime Rate Loans; (B) any Loans that were to have been converted on the first day of such Interest Period to or continued as Floating LIBOR Rate Loans shall be converted to or continued as Prime Rate Loans; and (C) each outstanding Floating LIBOR Rate Loan shall be converted, on the last day of the then-current Interest Period thereof, to Prime Rate Loans.

  • If any such conversion of a Floating LIBOR Rate Loan occurs on a day which is not the last day of the then current Interest Period with respect thereto, Borrowers shall pay to such Lender such amounts, if any, as may be required pursuant to Section 3.5(e) below.

  • For avoidance of doubt, no Base Rate Loan or Floating LIBOR Rate Loan shall have an Interest Period.

  • Any prepayment of a Eurodollar Rate Loan or Daily Floating LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.