LIBOR Balance definition

LIBOR Balance means any principal balance of this Note which, pursuant to an Interest Notice, bears interest at a rate based upon the Adjusted LIBOR Rate for the Interest Period specified in such Interest Notice.

LIBOR Balance means the principal balance of this Note, which, pursuant to an Interest Notice, bears interest at the Adjusted LIBOR Rate.

LIBOR Balance means any portion of the Revolving Loan that bears interest at a rate based upon the Libor Rate.

Examples of LIBOR Balance in a sentence

• The unpaid principal of each LIBOR Balance shall bear interest at a rate per annum which shall from day to day be equal to the lesser of (i) the Adjusted LIBOR Rate for the Interest Period in effect with respect to such LIBOR Balance, or (ii) the Maximum Rate.

• Upon receipt of such notice, Maker shall convert such LIBOR Balance into the WFB Base Rate Balance, on either (i) the last day of the then-current LIBOR Interest Period applicable to such LIBOR Balance if Payee may lawfully continue to maintain and fund such LIBOR Balance to such day, or (ii) immediately, if Payee may not lawfully continue to maintain such LIBOR Balance to such day.

• If notice has been given requiring a LIBOR Balance to be repaid or converted to the WFB Base Rate Balance, then unless and until Payee notifies Maker that the circumstances giving rise to such repayment no longer apply, the Interest Option shall be a rate based upon the WFB Base Rate.

• At least three (3) Business Days prior to the termination of any LIBOR Interest Period, Maker shall give Payee an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance, as appropriate, upon the expiration of such LIBOR Interest Period.

• Interest on this Note with respect to each WFB Base Rate Balance and each LIBOR Balance shall be calculated on the basis of the actual days elapsed in a year consisting of 360 days.

More Definitions of LIBOR Balance

LIBOR Balance means any principal balance of this Amended Note which, pursuant to an Interest Notice, bears interest at a rate based upon the Adjusted LIBOR Rate for the Interest Period specified in such Interest Notice.

LIBOR Balance means a balance bearing interest at the LIBOR Option.

LIBOR Balance means any portion of the Facility Balance that bears interest at the Adjusted LIBOR Rate pursuant to the terms of this Agreement.

LIBOR Balance means any principal balance of this Note which, pursuant to an Interest Notice, bears interest at a rate

LIBOR Balance. Base Rate Balance," "Interest Option," "Interest Period," "Business Day," and "Dollars," are defined in the New Notes; and reference is made to the New Notes for the options of Borrowers and rights of Lender with respect to interest.

LIBOR Balance shall have the respective meaning as it is defined for each facility under Section 2, hereof.

LIBOR Balance. A fixed rate quoted by the Bank for one week, 1, ------------- 2, 3, or 6 months or for such other period of time that the Bank may quote and offer (provided that any such period of time does not extend beyond the Expiration Date) (the "LIBOR Interest Period") for the entire amount of the Term Loan. Such interest rate shall be a percentage equal to the Term Applicable Margin plus the Bank's LIBOR Rate which is that rate determined by the Bank's Treasury Desk as being the arithmetic mean (rounded upwards, if necessary, to the nearest whole multiple of one-sixteenth of one percent (1/16%)) of the U. S. dollar London Interbank Offered Rates for such period appearing on page 3750 (or such other page as may replace page 3750 of the Telerate screen at or about 11:00 a.m. (London time) on the second Business Day prior to the first days of such period (adjusted for any and all assessments, surcharges and reserve requirements) (the "LIBOR Rate"). The Term Loan based upon the LIBOR Rate is hereinafter referred to as a "LIBOR Balance".