Examples of IBOR Rate Loan in a sentence
Any such automatic conversion to a Base Rate Loan shall be effective as of the last day of the Interest Period then in effect with respect to the applicable IBOR Rate Loan.
If the Swing Line Lender determines that for any reason adequate and reasonable means do not exist for determining the IBOR Rate for any requested Interest Period with respect to a proposed IBOR Rate Loan, or that the IBOR Rate for any requested Interest Period with respect to a proposed IBOR Rate Loan does not adequately and fairly reflect the cost to the Swing Line Lender of funding such Loan, the Administrative Agent will promptly so notify the Company.
If, for any reason, any Lender determines that a fair and adequate means does not exist for establishing a particular IBOR Rate or LIBOR Rate or that the making or continuation of any IBOR Rate Loan or LIBOR Rate Loan by such Lender has become unlawful, then such Lender may give notice of that fact to Agent and Borrower and such determination shall become conclusive and binding absent manifest error.
Each designation by Borrower of a IBOR Rate Loan shall be irrevocable; provided, however, that Borrower may specify in any such IBOR Request a maximum IBOR Rate which it will accept for the related Interest Rate Period and the IBOR Option elected in such IBOR Request shall not become effective if the applicable IBOR Rate determined by Lender shall exceed such specified maximum.
If any payment of a IBOR Rate Loan occurs on a date which is not the last day of the applicable Interest Rate Period, whether because of acceleration, prepayment or otherwise, Borrower will indemnify Lender for any loss or cost incurred by it resulting therefrom, including without limitation any loss or cost in liquidating or employing deposits acquired to fund or maintain such Loan.