LIBO Rate Option definition

LIBO Rate Option means the option of the Borrower to have Revolving Loans, Swingline Loans (including Optional Currency Swingline Loans) and Term Loans bear interest at the LIBO Rate pursuant to the provisions hereof.
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LIBO Rate Option shall have the meaning set forth in Section 2.04(a)(ii) hereof. "LIBO Rate Portion" of any Revolving Credit Loan or Revolving Credit Loans shall mean at any time the portion, including the whole, of such Revolving Credit Loan or Revolving Credit Loans bearing interest at any time under the LIBO Rate Option or at a rate calculated by reference to the LIBO Rate under Section 2.09(c)(i) hereof. If no Revolving Credit Loan or Revolving Credit Loans is specified, "LIBO Rate Portion" shall refer to the LIBO Rate Portion of all Revolving Credit Loans outstanding at such time.
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LIBO Rate Option. The LIBO Rate Option shall be a rate per annum (based on a year of 360 days and actual days elapsed) for each day equal to the LIBO Rate for such day plus the Applicable Margin for such day. "LIBO Rate" for any day, as used herein, shall mean for each Funding Segment of the LIBO Rate Portion corresponding to a proposed or existing LIBO Rate Funding Period the rate per annum determined by the Agent by dividing (the resulting quotient to be rounded upward to the nearest 1/100 of 1%)
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Examples of LIBO Rate Option in a sentence

  • All prepayments required pursuant to this Section 2.27 shall first be applied among the Interest Rate Options to the principal amount of the Revolving Loans subject to the Base Rate Option, then to Revolving Loans subject to a LIBO Rate Option and then to Optional Currency Swingline Loans.

  • In accordance with Section 2.16, the Borrower shall indemnify the Lenders for any loss or expense incurred with respect to any such prepayments applied against Loans subject to a LIBO Rate Option on any day other than the last day of the applicable Interest Period.

  • Borrower understands: (i) the process of exercising the One-Month LIBO Rate Option as provided herein; (ii) that amounts owing under this Note may bear interest at different rates and for different lime periods; and (iii) that absent the terms and conditions hereof, it would be extremely difficult to calculate Lender’s additional costs, expenses, and damages in the event of a Default or prepayment by Borrower hereunder.

  • Borrower understands: (i) the process of exercising the One-Month LIBO Rate Option as provided herein; (ii) that amounts owing under this Note may bear interest at different rates and for different time periods; and (iii) that absent the terms and conditions hereof, it would be extremely difficult to calculate Lender’s additional costs, expenses, and damages in the event of a Default or prepayment by Borrower hereunder.

  • Interest Base Rate Option LIBO Rate Option Additional Provisions for LIBO Rate Loans Limitation on LIBO Rate Loans LIBO Rate Loan Unlawful Treatment of Affected Loans Default Interest Rate Interest Calculation Fees Unused 3-Year Commitment Fee Letter of Credit Fee LC Issuance Fee Administrative Agent Fee Origination Fee LIBOR Margin; Base Rate Margin; Commitment Fee ARTICLE 5.

  • Prior to default hereunder or maturity, the undersigned may select as the rate of interest applicable to this Note either the LIBO Rate Option or the Prime Rate Option on a monthly basis effective on the first day of the month following the date notice is received by the holder of this Note, by written notice or by facsimile transmission, provided such notice is received by the holder at least three (3) Banking Days prior to such first day of the month.

  • If the Borrowers fail to select a new Interest Period to apply to any Borrowing Tranche of Loans under the LIBO Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with the provisions of Section 4.2, the Borrowers shall be deemed to have converted such Borrowing Tranche to the Base Rate Option commencing upon the last day of the existing Interest Period.

  • Applicable Margin shall mean, as applicable: (A) the annual rate of one hundred twenty five basis points (1.25%) to be added to Base Rate under the Base Rate Option," (B) the annual rate of two hundred fifty basis points (2.50%) to be added to LIBO-Rate under the LIBO Rate Option.

  • Unless the Borrower elects the LIBO Rate Option or the Cost of Funds Rate Option pursuant to this Section, the outstanding principal balance of the Term Loan shall bear interest at the Floating Rate from time to time in effect plus one-half of one percent (.50%), each change in the interest rate to become effective on the day the corresponding change in the Floating Rate becomes effective.

  • Whenever payment of a Term Loan to be made or taken hereunder shall be due on a day which is not a Business Day such payment shall be due on the next Business Day (except as provided in Section 3.3 (Interest Periods) with respect to Interest Periods under the LIBO- Rate Option) and such extension of time shall be included in computing interest and fees, except that the Term Loans shall be due on the Business Day preceding the Maturity Date if the Maturity Date is not a Business Day.


More Definitions of LIBO Rate Option

LIBO Rate Option means the option granted to the Borrower under Section 2.02(a) of the MLB Credit Agreement to have the interest on all or a portion of any Borrowing based on the LIBO Rate or the option granted to each Club Trust under Section 2.02(a) of the Club Trust Credit Agreement to have the interest on all or a portion of any Loan based on the LIBO Rate, as applicable.
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LIBO Rate Option means the interest rate option described in Section 3.1(I)(A)(i)(b) of the Schedule.
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Related to LIBO Rate Option

  • LIBOR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(ii) [Revolving Credit LIBOR Rate Option].

  • Base Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(i) [Revolving Credit Base Rate Option].

  • Euro-Rate Option shall have the meaning set forth in Section 2.04(a)(ii) hereof.

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

  • Rate Option means the Eurocurrency Rate or the Floating Rate, as applicable.

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Revolving Credit Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

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

  • Eurocurrency Base Rate means, for such Interest Period:

  • USD-LIBOR-BBA As defined in the Swap Agreement in the Annex to the 2000 ISDA Definitions.

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

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • LIBOR Tranche means the collective reference to LIBOR Rate Loans whose Interest Periods begin and end on the same day.

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

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

  • LIBOR Option has the meaning specified therefor in Section 2.12(a) of the Agreement.

  • LIBOR Index Rate means, for any Interest Period, the rate per annum (rounded upwards, if necessary, to the next higher one hundred-thousandth of a percentage point) for deposits in U.S. Dollars for a period equal to such Interest Period, which appears on the LIBOR01 Page as of 11:00 a.m. (London, England time) on the day two (2) Business Days before the commencement of such Interest Period.

  • LIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period, the rate appearing on Page 3750 of the Telerate Service (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the "LIBO Rate" with respect to such Eurodollar Borrowing for such Interest Period shall be the rate at which dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period.

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

  • Eurodollar Period means, as to each Eurodollar Rate Loan, the period commencing on the date specified by Borrower pursuant to Section 2.1(b) and ending 1, 2, 3 or 6 months (or, with the written consent of all of the Lenders, any other period) thereafter, as specified by Borrower in the applicable Request for Loan; provided that:

  • 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).

  • 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).

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

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

  • EURIBOR Rate has the meaning specified in the definition of “Eurocurrency Rate”.

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