Examples of LIBOR Advantage Rate Loan in a sentence
Further, in the case of any prepayments of a Loan which do not simply represent the conversion of a LIBOR Rate Loan or LIBOR Advantage Rate Loan to a Prime Rate Loan, any amounts applied against principal shall be applied against scheduled installments of principal due thereon in the inverse order of maturity.
In the absence of delivery of a continuation/conversion notice with respect to any LIBOR Advantage Rate Loan or LIBOR Rate Loan at least two (2) Business Days before the last day of the then current Interest Period with respect thereto, such LIBOR Advantage Rate Loan or LIBOR Rate Loan shall, on such last day, automatically be converted or continued, as applicable, as a Loan that accrues interest by reference to the LIBOR Advantage Rate.
Subject to the terms hereof, upon the expiration of an LA Interest Period, the applicable LIBOR Advantage Rate Loan shall automatically be continued as a LIBOR Advantage Rate Loan at the then current Applicable Rate and in an amount equal to the principal amount of the expiring LIBOR Advantage Rate Loan less any principal repayments made by Borrower, if any.
The Loan Request for each Advance requested hereunder shall be given (a) no later than 10:00 a.m. (Boston time) on the proposed Advance date for any Prime Rate Loan, and (b) no later than 10:00 a.m. (New York time) at least two (2) Business Days prior to the proposed Advance (nor more than five (5) Business Days before the proposed Advance) for any LIBOR Rate Loan or LIBOR Advantage Rate Loan.
Upon maturity, a LIBOR Advantage Rate Loan and/or a LIBOR Rate Loan may be continued for an additional Interest Period or may be converted to a LIBOR Rate Loan or a LIBOR Advantage Rate Loan, as applicable, as may be selected by the Borrower from the options and in accordance with the terms of this Agreement.
The Loan Request for each Advance requested hereunder shall be given no later than 10:00 a.m. (New York time) at least two (2) Business Days prior to the proposed Advance (nor more than five (5) Business Days before the proposed Advance) for any LIBOR Rate Loan or LIBOR Advantage Rate Loan.
Upon maturity, a LIBOR Advantage Rate Loan and/or a LIBOR Rate Loan may be continued for an additional Interest Period or may be converted to a Prime Rate Loan or other interest rate as may be selected by the Borrower from the options and in accordance with the terms of this Agreement.
Each such Loan Request shall specify whether the Loan is to be made under the Non-Restoring Credit Facility and shall specify: (i) the principal amount of the Advance requested, (ii) the proposed interest rate applicable to such Advance, and (iii) if any such Advance is a LIBOR Advantage Rate Loan or a LIBOR Rate Loan, the Interest Period applicable for such Advance.
Upon maturity, a LIBOR Advantage Rate Loan and LIBOR Rate Loan may be continued for an additional Interest Period or may be converted to a Prime Rate Loan or other interest rate as may be selected by the Borrower from the options and in accordance with the terms of this Agreement.
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