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.
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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).
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Floating LIBOR Rate Loan means a Loan bearing interest at the Floating LIBOR Rate.
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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.

  • 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.

  • Each Borrowing, each conversion of Eurodollar Rate Loans, Floating LIBOR Rate Loan or Base Rate Loans from one Type of Loan to another, and each continuation of Eurodollar Rate Loans shall be made upon Borrower’s irrevocable notice to Funding Agent, which may be given by telephone.

  • Upon receipt of such notice, Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans (to the extent of the affected Eurodollar Rate Loans or Interest Periods) or of Floating LIBOR Rate Loans (to the extent of the affected Floating LIBOR Rate Loan) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans, without reference to the Floating LIBOR Rate, in the amount specified therein.

  • Upon receipt of such notice, the Company may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or Daily Floating LIBOR Rate Loan, as applicable, (to the extent of the affected Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.

  • If the Borrower shall fail to specify in any such Notice of Borrowing (I) an applicable Interest Period in the case of a Fixed LIBOR Rate Loan, then such notice shall be deemed to be a request for an Interest Period of one month, or (II) the type of Revolving Loan requested, then such notice shall be deemed to be a request for an Floating LIBOR Rate Loan hereunder.

  • In the event 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 LIBOR Rate Loan, the Bank may at any time after the end of the Loan Period convert the LIBOR Rate Loan to a Daily Floating LIBOR Rate Loan, but until such conversion, the funds advanced under the LIBOR Rate Loan shall continue to accrue interest at the same rate as the interest rate in effect for such LIBOR Rate Loan prior to the end of the Loan Period.

  • A form of Notice of Conversion is attached as Schedule 2.8. If the date upon which a Floating LIBOR Rate Loan is to be converted to a Fixed LIBOR Rate Loan is not a Business Day, then such conversion shall be made on the next succeeding Business Day.


More Definitions of Floating LIBOR Rate Loan

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.
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Related to Floating LIBOR Rate Loan

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

  • Reference Rate Loan means any Committed Loan that bears interest at a rate determined with reference to the Reference Rate.

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

  • LIBOR Rate Loan means a Loan that bears interest based on LIBOR.

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Eurocurrency Rate Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars or in an Agreed Currency which bears interest as provided in Section 2.07(b) or a Local Currency Advance which bears interest as provided in Section 2.07(b) and the Local Currency Addendum.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an -------------- Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

  • Prime Rate Loan means any Loan bearing interest at a rate determined by reference to the Prime Rate.

  • LIBOR Rate Loans means Loans bearing interest at a rate based on the LIBOR Base Rate or LIBOR Rate, as applicable.

  • Eurocurrency Rate Loan means a Loan that bears interest at a rate based on the Eurocurrency Rate. Eurocurrency Rate Loans may be denominated in Dollars or in an Alternative Currency. All Loans denominated in an Alternative Currency must be Eurocurrency Rate Loans.

  • LIBOR Loan means any portion of a Loan (other than a Base Rate Loan) bearing interest at a rate based on LIBOR.

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

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

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

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

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

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

  • Offshore Rate Loan means a Loan that bears interest based on the Offshore Rate.

  • Eurodollar Rate Committed Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of “Eurodollar Rate.”

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Eurodollar Rate Loan means a Loan that bears interest at a rate based on the Eurodollar Rate.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(ii).