Examples of IBOR Loan in a sentence
In the event that Bank is unable, for the reasons set forth above, to make, maintain or fund its portion of any IBOR Loan, Bank shall fund such amount as a Reference Rate Loan for the same period of time, and such amount shall be treated in all respects as a Reference Rate Loan.
In the absence of an effective request for the application of an IBOR Rate (including, without limitation, as of the last day of the Applicable Interest Period of any IBOR Loan), the Loans shall accrue interest at the Adjusted Base Rate.
Accrued but unpaid interest on each IBOR Loan shall be paid on the last day of the Applicable Interest Period, on the date of any payment of the principal of such IBOR Loan (to the extent accrued on the principal amount paid), at the Maturity Date.
Each IBOR Loan shall be allocated among the Lenders in proportion to their respective Percentage Interests.
If after the Restated Closing Date the occurrence of any Regulatory Development shall, in the opinion of Bank, make it unlawful or impossible for Bank or its IBOR Lending Office to make, maintain or fund its portion of any IBOR Loan, or to take deposits of dollars in the IBOR Market, or to determine or charge interest rates based upon the IBOR, then Bank's obligation to make IBOR Loans shall be suspended for the duration of such illegality or impossibility and Bank shall give notice thereof to Borrower.
If at the time of such notice there is then pending a Request for Loan that specifies an IBOR Loan, such Request for Loan shall be deemed to specify a Reference Rate Loan.
Except as otherwise provided in Section 3.6, the unpaid principal amount of any IBOR Loan shall bear interest at a rate per annum equal to the IBOR Rate for that IBOR Loan plus the applicable IBOR Rate Spread.
Interest accrued on each IBOR Loan which is for a term of three months or less shall be due and payable on the last day of the related Interest Period.
Interest accrued on each other IBOR Rate Loan shall be due and payable on the date which is three months after the date such IBOR Loan was made and on the last day of the related Interest Period.