LIBOR Based Rate Advances definition

LIBOR Based Rate Advances means advances under the Loan bearing interest at rates based upon the LIBOR Based Rate.
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LIBOR Based Rate Advances means advances under the Revolving Loan bearing interest at rates based upon the LIBOR Based Rate.
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Examples of LIBOR Based Rate Advances in a sentence

  • Interest shall also be due and payable, for LIBOR Based Rate Advances having a LIBOR Interest Period of three (3) months or greater, on each date occurring at three-month intervals after the first day of such LIBOR Based Rate Advance Period.

  • Advances (except Letters of Credit) may be prepaid at any time and from time to time in whole or in part without premium or penalty, subject to reimbursement of the Lenders' re-deployment costs in the case of prepayments of LIBOR Based Rate Advances in accordance with Section 2.9 below.

  • All interest relating to the LIBOR Based Rate Advances chargeable under the Loan Documents shall be computed on the basis of a three hundred sixty (360) day year for the actual number of days elapsed.

  • Notwithstanding anything to the contrary contained herein, Lenders shall not be required to purchase United States Dollar deposits in the London interbank market or other applicable LIBOR market to fund any LIBOR Based Rate Advances, but the provisions hereof shall be deemed to apply as if the Lenders had purchased such deposits to fund the LIBOR Based Rate Advances.

  • Such request shall specify the amount of the Prime Based Rate Advances which will constitute LIBOR Based Rate Advances (subject to the limits set forth below and as otherwise set forth herein) and the Interest Period to be applicable to such LIBOR Based Rate Advances.

  • Borrower may, upon at least two (2) Business Days' notice in the case of LIBOR Based Rate Advances and one (1) Business Day's notice in the case of Variable Rate Advances to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given Borrower shall, prepay the outstanding principal balance of the Loan in whole or in part at any time prior to the applicable Maturity Date as stated in such notice by Borrower.

  • Any LIBOR Based Rate Advances shall, in Lenders' commercially reasonable discretion, convert to Prime Based Rate Advances in the event that an Event of Default shall exist and be continuing.

  • Borrower may, upon at least three (3) Business Days' notice in the case of LIBOR Based Rate Advances and one (1) Business Day's notice in the case of Variable Rate Advances to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given Borrower shall, prepay the outstanding principal balance of the Loan in whole or in part at any time prior to the applicable Maturity Date as stated in such notice by Borrower.

  • Borrower may, upon at least two (2) Banking Days' notice in the case of LIBOR Based Rate Advances and one (1) Banking Day's notice in the case of Variable Rate Advances to the Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given Borrower shall, prepay the outstanding principal balance of the Loan in whole or in part at any time prior to the applicable Maturity Date as stated in such notice by Borrower.

  • Any request by Borrowers to convert Prime Based Rate Advances to LIBOR Based Rate Advances or continue any existing LIBOR Based Rate Advances shall be irrevocable.