Examples of LIBOR Daily Floating Rate Loan in a sentence

The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan or all or any part of a LIBOR Daily Floating Rate Loan into an Alternate Base Rate Loan or a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan).
Changes in the rate of interest on that portion of any Loan maintained as an Alternate Base Rate Loan or a LIBOR Daily Floating Rate Loan will take effect simultaneously with each change in the Alternate Base Rate or the LIBOR Daily Floating Rate, as applicable.
The Borrower shall select the Type of Borrowing and, in the case of each Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan), the Interest Period applicable thereto from time to time.
Revolving Credit Loans may be Base Rate Loans, Eurodollar Rate Loans or a LIBOR Daily Floating Rate Loan, as further provided herein.
Interest accrued on each Alternate Base Rate Loan and each LIBOR Daily Floating Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Borrowing Date with respect to such Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, and on any date on which the Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, is prepaid, whether due to acceleration or otherwise.

More Definitions of LIBOR Daily Floating Rate Loan

LIBOR Daily Floating Rate Loan has the meaning specified in clause (b) of the definition of “Eurodollar Rate” contained herein.

LIBOR Daily Floating Rate Loan is a loan that bears interest equal to the LIBOR Daily Floating Rate plus 1.25 percentage points. The “LIBOR Daily Floating Rate” is a fluctuating rate of interest which can change on each banking day. The rate will be adjusted on each banking day to equal the London Interbank Offered Rate (or a comparable or successor rate which is approved by the Bank) for U.S. Dollar deposits for delivery on the date in question for a one month term beginning on that date. The Bank will use the London Interbank Offered Rate as published by Bloomberg (or other commercially available source providing quotations of such rate as selected by the Bank from time to time) as determined at approximately 11:00 a.m. London time two (2) London Banking Days prior to the date in question, as adjusted from time to time in the Bank’s sole and absolute discretion for reserve requirements, deposit insurance assessment rates and other regulatory costs. If such rate is not available at such time for any reason, then the rate will be determined by such alternate method as reasonably selected by the Bank. A "London Banking Day" is a day on which banks in London are open for business and dealing in offshore dollars. If at any time the LIBOR Daily Floating Rate is less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.

LIBOR Daily Floating Rate Loan means a Revolving Credit Loan that bears interest at a rate based on clause (c) of the definition of “Eurocurrency Rate”. LIBOR Daily Floating Rate Loans shall only be denominated in Dollars. “LIBOR Quoted Currency” mean Dollars, as long as there is a published LIBOR rate with respect thereto. “LIBOR Replacement Date” has the meaning specified in Section 3.03(c). “LIBOR Screen Rate” means the LIBOR quote on the applicable screen page the Administrative Agent designates to determine LIBOR (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time). “LIBOR Successor Rate” has the meaning specified in Section 3.03(c). “LIBOR Successor Rate Conforming Changes” means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest Period, timing and - 35-

LIBOR Daily Floating Rate Loan means a Dollar Tranche Loan that bears interest at a rate based on the LIBOR Daily Floating Rate. “LIBOR Quoted Currency” means each of the following currencies: Dollars, as long as there is a published LIBOR rate with respect thereto. “LIBOR Replacement Date” has the meaning specified in Section 3.03(c).

LIBOR Daily Floating Rate Loan means a Revolving Credit Loan that bears interest on the LIBOR Daily Floating Rate. “LIBOR Replacement Date” has the meaning specified in Section 3.03(b).