LIBOR Advantage Loan definition

LIBOR Advantage Loan means any loan or advance for which the applicable rate of interest is based upon the LIBOR Advantage Rate.
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LIBOR Advantage Loan any Revolver Loan bearing interest at a rate determined by reference to the LIBOR Advantage Rate.
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LIBOR Advantage Loan means a Revolving Advance for which the applicable rate of interest is based upon the LIBOR Advantage
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Examples of LIBOR Advantage Loan in a sentence

  • Upon maturity, a LIBOR Rate Loan may be continued for an additional LIBOR Interest Period or may be converted to LIBOR Advantage Loan or a Prime Rate Loan.

  • No Eurodollar Rate Loan or LIBOR Advantage Loan shall be made available to Borrower during the continuance of a Default or an Event of Default.

  • No LIBOR Rate Loan or LIBOR Advantage Loan may be continued as such when any Default or Event of Default has occurred and is continuing, in which case such LIBOR Rate Loan or LIBOR Advantage Loan shall be automatically converted to an Alternate Base Rate Loan at the end of the applicable Interest Period with respect thereto.

  • Whenever payment of any amount on a LIBOR Loan or a LIBOR Advantage Loan shall become due hereunder, or otherwise would occur, on a day that is not a Business Day, such payment may be made on the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding Business Day.

  • Interest on each LIBOR Advantage Loan shall be payable in arrears on each LA Interest Payment Date.

  • The net effect is to slow down the rate of attrition, given the generalised breakdown of the parent-to-child transmission process.

  • In such event, the applicable Borrowers shall be deemed to have made a request for a LIBOR Advantage Loan in Dollars to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount calculated as of the Honor Date, without regard to the minimum and multiples specified in Section 2.5.4 but subject to the Revolving Credit Commitment and the applicable conditions set forth in Section 4.

  • If Agent does not receive timely notice of the Interest Period elected by Borrower, Borrower shall be deemed to have elected to convert to a LIBOR Advantage Loan subject to Section 2.2(d) herein below.

  • Any Loan the rate of interest applicable to which is based upon the LIBOR Rate and computed as set forth in §2.5(iii); provided that except as set forth in §§2.5(iii) and 2.6, all provisions of this Agreement regarding LIBOR Rate Loans shall apply to any LIBOR Advantage Loan.

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More Definitions of LIBOR Advantage Loan

LIBOR Advantage Loan. Any loan or advance for which the applicable rate of interest is based upon the LIBOR Advantage Rate. LIBOR Advantage Rate. Relative to any LA Interest Period, the offered rate for delivery in two London Banking Days of deposits of U.S. Dollars for a term coextensive with the designated LA Interest Period which the British Bankers’ Association fixes as its LIBOR rate as of 11:00 a.m. London time on the day on which such LA Interest Period commences. If the first day of any LA Interest Period is not a day which is both a (i) Business Day, and (ii) a London Banking Day, the LIBOR Advantage Rate shall be determined by reference to the next preceding day which is both a Business Day and a London Banking Day. Interest accruing by reference to the LIBOR Advantage Rate shall be calculated for the actual number of days elapsed on the basis of a 360-day year, including the first date of the applicable period to, but not including, the date of repayment. If for any reason the LIBOR Advantage Rate is unavailable and/or the Lender is unable to determine the LIBOR Advantage Rate for any LA Interest Period, the Lender may, at its discretion, either: (a) select a replacement index based on the arithmetic mean of the quotations, if any, of the interbank offered rate by first class banks in London or New York for deposits with comparable maturities or (b) accrue interest at a rate per annum equal to the Lender’s Prime Rate as of the first day of any Interest Period for which the LIBOR Advantage Rate is unavailable or cannot be determined. LIBOR Breakage Fee. As defined in Section 6.4 of this Agreement.
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LIBOR Advantage Loan means the Loan for the period(s) when the rate of interest applicable to such Loan is calculated by reference to the LIBOR Advantage Rate in the manner set forth herein.
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Related to LIBOR Advantage Loan

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

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

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

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

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

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

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

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Eurocurrency Rate.

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

  • 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).

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

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

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

  • 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:

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

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

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

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

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

  • 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).

  • Interest Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Payment Date and each successive period beginning on (and including) an Interest Payment Date and ending on (but excluding) the next succeeding Interest Payment Date.

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

  • LIBOR Rate Loans means the Loans bearing interest with reference to the LIBOR Rate.

  • Bid Rate Loan means a loan made by a Lender under Section 2.2.

  • LIBOR Interest Period means, as to any advance to which the LIBOR Option applies, the period of one (1), two (2), three (3) or six (6) months as selected by the Borrower in its notice of borrowing or notice of conversion, as the case may be, commencing on the date of disbursement of an advance (or the date of conversion of an advance to the LIBOR Option, as the case may be) and each successive period selected by the Borrower thereafter; provided that, (i) if a LIBOR Interest Period would end on a day which is not a Business Day, it shall end on the next succeeding Business Day unless such day falls in the next succeeding calendar month in which case the LIBOR Interest Period shall end on the next preceding Business Day, (ii) the Borrower may not select a LIBOR Interest Period that would end on a day after the Expiration Date, and (iii) any LIBOR Interest Period that begins on the last Business Day of a calendar month (or a day for which there is no numerically corresponding day in the last calendar month of such LIBOR Interest Period) shall end on the last Business Day of the last calendar month of such LIBOR Interest Period.

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