LIBOR Borrowing Rate definition

LIBOR Borrowing Rate means (a) for the Revolving Loan, the LIBOR Rate plus 2 percent per annum, and (b) for the Term Loan, the LIBOR Rate plus 3 percent per annum.

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LIBOR Borrowing Rate means the LIBOR Rate plus two percent (2%). The LIBOR Borrowing Rate for each LIBOR Borrowing Rate Amount shall be determined pursuant to Paragraph 9., as of the beginning of the applicable LIBOR Interest Period, based on the then current LIBOR Rate, and, except as otherwise provided in this Agreement, shall remain fixed during that LIBOR Interest Period.

LIBOR Borrowing Rate means the LIBOR Rate plus one percent (1.0%) per annum. The LIBOR Borrowing Rate for each LIBOR Borrowing Rate Amount shall be determined pursuant to Paragraph 3.3., as of the beginning of the applicable LIBOR Interest Period, based on the then current LIBOR Rate, and, except as provided in Paragraphs 3.3.c., 3.3.d. and 3.4., shall remain fixed during that LIBOR Interest Period.

Examples of LIBOR Borrowing Rate in a sentence

• In addition, with respect to all LIBOR Borrowing Rate Amounts, accrued interest shall be paid on the last day of the applicable LIBOR Interest Period.

• All prepayments shall be applied first to the Prime Borrowing Rate Amount and then to any LIBOR Borrowing Rate Amounts (in such order as Bank may determine in Bank's absolute discretion), and then to accrued interest.

• The rate options are the Prime Borrowing Rate and the LIBOR Borrowing Rate, each as defined herein.

• Borrower may obtain LIBOR Borrowing Rate quotes from Bank between 8:00 a.m. and 10:00 a.m. (Portland, Oregon, time) on any Business Day.

• Whenever Borrower desires to use the LIBOR Borrowing Rate option, Borrower shall give Bank irrevocable notice (either in writing or orally) between 8:00 a.m. and 10:00 a.m. (Portland, Oregon, time) two (2) Business Days in advance of the desired effective date of such rate.

• If at any time Bank's LIBOR Rate is unascertainable or unavailable to Bank or if LIBOR Rate loans become unlawful, the option to select the LIBOR Borrowing Rate shall terminate immediately.

• Each time Borrower requests a Funding, at any time prior to the expiration of each Interest Period for any LIBOR Rate Borrowing, and at any other time with respect to Prime Rate Borrowings, so long as there exists no Event of Default, Borrower may elect either the Prime Borrowing Rate or the LIBOR Borrowing Rate to apply to such Funding, such existing LIBOR Rate Borrowing at the end of the Interest Period, or such existing Prime Rate Borrowing.

• If any LIBOR Borrowing Rates are then in effect (i) each shall terminate automatically with respect to the applicable LIBOR Borrowing Rate Amount (a) on the last day of the applicable LIBOR Interest Period, if Bank may lawfully continue to maintain such loans, or (b) immediately if Bank may not lawfully continue to maintain such loans through such day, and (ii) the Prime Borrowing Rate automatically shall become effective as to such amounts upon termination.

• Notwithstanding any other term of this note, Borrower may elect a LIBOR Borrowing Rate Amount only in the minimum principal amount of Five Hundred Thousand Dollars ($500,000) and in larger integral multiples of One Hundred Thousand Dollars ($100,000).

• Bank to any tax, duty, or other charge resulting from all or any portion of the Loans bearing interest at the LIBOR Borrowing Rate, or shall change the basis of taxation of payments to U.

More Definitions of LIBOR Borrowing Rate

LIBOR Borrowing Rate means the LIBOR Rate plus the applicable margin determined in accordance with Section 4.1 herein.

LIBOR Borrowing Rate means the LIBOR Rate (Reserved Adjusted) plus the Applicable Margin in effect as of the first day of the applicable LIBOR Rate Borrowing. “LIBOR Rate” means the average offered rate (computed on the basis of a 360–day year and the actual number of days elapsed) for deposits in United States Dollars for delivery of such deposits on the day that is two Business Days preceding the first day of the applicable Interest Period of a LIBOR Rate Borrowing for the number of days comprised therein for the number of days comprised therein, which appears on Telerate Page 3750 as of 11:00 a.m., London time (or such other time as of which such rate appears) or the rate for such deposits determined by U.S. Bank at such time based on such other published service of general application as shall be selected by U.S. Bank for such purpose; provided, that in lieu of determining the rate in the foregoing manner, U.S. Bank may determine the rate based on rates offered to U.S. Bank for deposits in United States Dollars in the interbank Eurodollar market at such time for delivery on the first day of the Interest Period for the number of days comprised therein. “Telerate Page 3750” means the display designated as such on the Bridge Telerate, Inc. service or any successor service (or such other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks for United States Dollar deposits).