LIBOR Election definition

LIBOR Election means an election to have any Base Rent Period extend for approximately one month, two months, three months or six months. Subject to the limitations and qualifications set forth in this definition, LRC may make any Base Rent Period subject to a LIBOR Election by a notice given to BNPPLC in the form attached as Annex 1 at least five Business Days prior to the commencement of such Base Rent Period. After a LIBOR Election becomes effective, it will remain in effect for all subsequent Base Rent Periods until a different election is made in accordance with the provisions of this definition. (For purposes of the definition of Base Rent Periods above, a LIBOR Election for any Base Rent Period will also be considered the LIBOR Election in effect on the Effective Date or Base Rent Date upon which such Base Rent Period begins.) Notwithstanding the foregoing: • No LIBOR Election made by LRC will be effective or continue if it would cause a Base Rent Period to extend beyond the end of the scheduled Term. • Changes in any LIBOR Election initiated by LRC will become effective only upon the commencement of a new Base Rent Period. • If for any reason (including BNPPLC’s receipt of a notice from LRC purporting to make a LIBOR Election that is contrary to the foregoing provisions), BNPPLC is unable to determine with certainty whether a particular Base Rent Period is subject to a specific LIBOR Election of one month, two months, three months or six months, the LIBOR Period Election for that particular Base Rent Period will be one month. • If any Event of Default has occurred and is continuing on the third Business Day preceding the commencement of a particular Base Rent Period, then BNPPLC shall be entitled (but not required) to make a LIBOR Election for that Base Rent Period of one month, absent which the LIBOR Election for that Base Rent Period will be determined in accordance with the foregoing provisions.
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LIBOR Election means an election by Borrower to have the principal balance of the Loans, up to the LIBOR Amount as designated therein, bear interest at the LIBOR-Based Rate for the LIBOR Period as designated therein in accordance with the provisions of Section 2.5.
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LIBOR Election means an effective election by Borrowers to have the principal balance of the Loans, or one or more designated portions thereof, bear interest at the LIBOR-Based Rate for the LIBOR Period as designated therein in accordance with the provisions of Section 2.5(a).
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Examples of LIBOR Election in a sentence

  • If Maker elects to have the LIBOR Adjusted Rate apply, it shall advise Payee in writing by delivery to Payee of the LIBOR Election Notice attached hereto as Exhibit “A”, of its election and the LIBOR Period and LIBOR Increment for which Maker desires said rate to apply not later than 10:00 a.m., Central Standard Time or Central Daylight Time (as applicable), two (2) Business Days prior to the LIBOR Period Commencement Date.

  • For Base Rent Periods subject to a LIBOR Election of six months, Base Rent will be payable in two installments, with the first installment becoming due on the Base Rent Date that occurs on the first Business Day of the third calendar month following the commencement of such Base Rent Period, and with the second installment becoming due on the Base Rent Date upon which the Base Rent Period ends.

  • Any LIBOR Election Notice received by Agent shall be irrevocable.

  • Subject to Subsection 2.8.4 (LIBOR Election) as to payments with respect to Adjusted LIBOR, if any payment under the Loan Documents becomes due on a day that is not a Business Day, the due date of such payment shall be extended to the next succeeding Business Day, and such extension of time shall be included in computing interest and fees in connection with such payment.

  • The Interest Rate applicable to a particular LIBOR Election shall remain at the rate elected for the remainder of the subject LIBOR Interest Period.

  • In the absence of delivery of a LIBOR Election Form and Certification with respect to any LIBOR Rate Loan at least three (3) Business Days before the last day of the then current Interest Period with respect thereto, such LIBOR Rate Loan shall, on such last day, automatically convert to a Loan that accrues interest on a Base Rate basis.

  • Each Request for Advance and Certification or LIBOR Election Form and Certification, as applicable, shall be made by the Borrowers in accordance with the provisions of this Exhibit, the Notes and Section 1.4 of the Loan Agreement.

  • The principal balance of the Loans, or portions thereof, as to which a LIBOR Election is not in effect and the balance of all other outstanding Obligations (except that portion of the Obligations, if any, arising under any agreement other than this Agreement if such other agreement provides for the payment of interest at a rate specified therein) will bear interest at an annual rate equal to the applicable Prime-Based Rate as in effect from time to time.

  • The Lenders shall not be obligated to act with respect to the provisions of this Exhibit unless the Administrative Agent shall have received a Request for Advance and Certification or LIBOR Election Form and Certification, as applicable, from the Borrowers specifying the following information: the amount of the advance subject to the Applicable Interest Rate election; the length of the Interest Period; and the date on which such election is requested to be effective.

  • Subject to Subsection 2.11.4 (LIBOR Election) as to payments with respect to Adjusted LIBOR, if any payment under the Loan Documents becomes due on a day that is not a Business Day, the due date of such payment shall be extended to the next succeeding Business Day, and such extension of time shall be included in computing interest and fees in connection with such payment.


More Definitions of LIBOR Election

LIBOR Election means an election pertaining to LIBOR Principal made pursuant to this Note.
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LIBOR Election means the election by the Borrower to apply the Libo Rate to the Loan, pursuant to a Notice of Rate Selection. If by reason of an Event of Default, Lender elects to declare the Obligations to be immediately due and payable, then any yield maintenance fee with respect to the Loan shall become due and payable in the same manner as though Borrower had exercised such right of prepayment.
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LIBOR Election means written notice from Borrower delivered to Lender electing the LIBOR Rate as the Effectixx Xxxx hereunder.
Sample 1
LIBOR Election means an election made in a written notice by the Borrower to pay interest at the LIBOR Rate, which notice shall be irrevocable and delivered to the Bank at least three Business Days prior to the first Reset Date, specifying the entire principal balance then outstanding hereunder to be carried in consecutive periods, each one of one-month duration (each, an “Interest Period”) and commencing on the expiration of each preceding Interest Period.
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LIBOR Election means any election by Borrower to have the Redwood Daily Yield Rate or the Committed Lender Fixed Rate computed based on LIBOR.
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LIBOR Election an election by Borrower pursuant to subsection 2.4.1 to borrow at the LIBOR Rate or to have a portion of the Principal Balance bear or continue to bear interest at the LIBOR Rate. LIBOR INTEREST PERIOD: (i) a period commencing (A) on the applicable Funding Date, if Borrower prior thereto has elected pursuant to subsection 2.4.1 to have all or a portion of the Loan to be disbursed on such date bear interest from such date at a LIBOR Rate, (B) with respect to the conversion of all or a portion of the Prime Rate Portion to a LIBOR Loan, on the Business Day specified by Borrower in the applicable Notice of Borrowing and (C) with respect to the continuation as a LIBOR Loan of all or a portion of a then existing LIBOR Loan after the expiration of the LIBOR Interest Period applicable to such existing LIBOR Loan, on the last day of the LIBOR Interest Period applicable to such existing LIBOR Loan, and (ii) ending one, two, three or six months thereafter, as selected by Borrower in its Notice of Borrowing; provided, however:
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Related to LIBOR Election

  • Regular election means an election held on a regular election date to elect an individual to, or nominate an individual for, elective office in the regular course of the terms of that elective office.

  • Safe Harbor Election has the meaning set forth in Section 10.2(d).

  • LCA Election has the meaning specified in Section 1.09(a).

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Eurodollar Borrowing means a Borrowing comprised of Eurodollar Loans.

  • Other Benchmark Rate Election means, with respect to any Loan denominated in Dollars, if the then-current Benchmark is the LIBO Rate, the occurrence of:

  • LIBOR Interest Period means, as to any advance to which the LIBOR Option applies, the period of one (1), two (2), three (3) or six (6) months as selected by the Borrower in its notice of borrowing or notice of conversion, as the case may be, commencing on the date of disbursement of an advance (or the date of conversion of an advance to the LIBOR Option, as the case may be) and each successive period selected by the Borrower thereafter; provided that, (i) if a LIBOR Interest Period would end on a day which is not a Business Day, it shall end on the next succeeding Business Day unless such day falls in the next succeeding calendar month in which case the LIBOR Interest Period shall end on the next preceding Business Day, (ii) the Borrower may not select a LIBOR Interest Period that would end on a day after the Expiration Date, and (iii) any LIBOR Interest Period that begins on the last Business Day of a calendar month (or a day for which there is no numerically corresponding day in the last calendar month of such LIBOR Interest Period) shall end on the last Business Day of the last calendar month of such LIBOR Interest Period.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Term Loan Election has the meaning specified in Section 2.06.

  • Eurodollar Interest Period means, for any Eurodollar-based Advance, an Interest Period of one, two or three months (or any shorter or longer periods agreed to in advance by the Borrower, Agent and the Lenders) as selected by Borrower, for such Eurodollar-based Advance pursuant to Section 2.3 or 4.4 hereof, as the case may be.

  • Stock Election shall have the meaning set forth in Section 3.2.2.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • 10) Election has the meaning set forth in Section 6.05(a).

  • Notice of Interest Rate Election has the meaning set forth in Section 2.10.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Eurocurrency Rate.

  • Eurodollar Period means, as to each Eurodollar Rate Loan, the period commencing on the date specified by Borrower pursuant to Section 2.1(b) and ending 1, 2, 3 or 6 months (or, with the written consent of all of the Lenders, any other period) thereafter, as specified by Borrower in the applicable Request for Loan; provided that:

  • LCT Election has the meaning assigned to such term in Section 1.06.

  • Regular primary election means the election on the fourth Tuesday of June of

  • Investment Election means an election, made in such form as the Administrative Committee may direct, pursuant to which a Participant may elect the Investment Funds in which the amounts credited to his Account will be deemed to be invested.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Eurocurrency Interest Period means with respect to any Eurocurrency Rate Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, to the extent agreed to by the Agent and each Lender making such Eurocurrency Rate Borrowing, twelve months or any shorter period) thereafter, as a Borrower may elect; provided that (a) if any Eurocurrency Interest Period would end on a day other than a Business Day, such Eurocurrency Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Eurocurrency Interest Period shall end on the next preceding Business Day, (b) any Eurocurrency Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Eurocurrency Interest Period) shall end on the last Business Day of the last calendar month of such Eurocurrency Interest Period and (c) no Eurocurrency Interest Period for any (i) Eurocurrency Rate Revolving Loan shall end after the latest Scheduled Termination Date for the applicable Revolving Commitments under the applicable Revolving Facility or (ii) Eurocurrency Rate Term Loans shall end after the stated maturity date of such Term Loans.

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

  • Eurodollar Competitive Loan means any Competitive Loan bearing interest at a rate determined by reference to the LIBO Rate in accordance with the provisions of Article II.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.