LIBO Rate Tranche definition

LIBO Rate Tranche means a Borrowing Tranche as to which the LIBO Rate is applicable.

LIBO Rate Tranche the collective reference to LIBO Rate Loans under a particular Facility the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

LIBO Rate Tranche means a Borrowing Tranche under the Revolving Credit Loan as to which the LIBO Rate is applicable. All Borrowing Tranches under the Revolving Credit Loan shall bear interest as LIBO Rate Tranches except as is provided in Section 2.5.2. Each LIBO Rate Tranche shall bear interest per annum immediately following a disbursement (including the date of disbursement) under the Revolving Credit Loan at a rate equal to 1.75% (175 basis points) plus the greater of (a) zero percent (0.00%) or (b) the LIBO Rate.

Examples of LIBO Rate Tranche in a sentence

• The conversion of a LIBO Rate Tranche to a Base Rate Tranche pursuant to a description in a Rate Election Notice shall only occur on the last Business Day of the LIBOR Period relating to such LIBO Rate Tranche.

• Lender shall, as soon as practicable but not later than the last day of the LIBOR Period, provide notice to Borrower of any such additional interest arising in connection with such LIBO Rate Tranche and the certification of Lender that the additional amount is due and that the additional reserve requirement is applicable to such LIBO Rate Tranche.

• The LIBOR Period for the continuation of any LIBO Rate Tranche shall commence on the day after the last day of the next preceding LIBOR Period.

• So long as and to the extent Lender shall be required under regulations of the FRB to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (as defined in the definition of Reserve Percentage), and Lender’s performance under this Agreement shall have given rise to additional reserve requirements for Lender thereunder, Borrower shall pay to Lender additional interest on the unpaid principal amount of each LIBO Rate Tranche.

• In the event that Borrower fails to notify Lender that it desires to continue any LIBO Rate Tranche or any portion thereof by the last day of the applicable LIBOR Period, Borrower shall be deemed to have elected to continue the LIBO Rate Tranche in question for an additional LIBOR Period equal in length to the expiring LIBOR Period.

More Definitions of LIBO Rate Tranche

LIBO Rate Tranche means each Tranche the interest on which is calculated with reference to an Adjusted LIBO Rate.

LIBO Rate Tranche means a Tranche bearing interest at all times during the Interest Period applicable to such Tranche, at a fixed rate of interest equal to the Note LIBO Rate applicable to such Interest Period.

LIBO Rate Tranche means a Tranche bearing interest at all times during the Interest Period applicable to such Tranche, at a fixed rate of interest equal to the Note LIBO Rate applicable to such Interest Period. 1.9 "Loan Documents" has the meaning described to such term in the Credit Agreement.

LIBO Rate Tranche means any portion of the Loan bearing interest at the Adjusted LIBO Rate in accordance with the provisions of Article II and which are permitted by the terms hereof to bear interest at the Adjusted LIBO Rate.

LIBO Rate Tranche means any part of the principal amount of the Loans that constitutes LIBO Rate Advances for a specific LIBO Rate Interest Period.

LIBO Rate Tranche means any Bank Rate Tranche that bears interest at the LIBO Rate.

LIBO Rate Tranche means all or a portion of one or more Advances which bears interest at a rate per annum determined on the basis of the Adjusted LIBO Rate.