LIBOR Floating Rate Loan definition

LIBOR Floating Rate Loan means a Loan that bears interest at a rate based on the LIBOR Daily Floating Rate.

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LIBOR Floating Rate Loan. A Loan bearing interest based on the LIBOR Daily Floating Rate. Loan Documents: This Agreement, and the promissory note and fee letter, if any, delivered in connection with this Agreement. Maturity Date: December 31, 2008, or such earlier date on which the Commitment may terminate in accordance with the terms hereof.

LIBOR Floating Rate Loan means any Revolving Credit Loan bearing interest at a rate determined by reference to the LIBOR Floating Rate.

Examples of LIBOR Floating Rate Loan in a sentence

Until each Lender funds its LIBOR Floating Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest in respect of such Applicable Percentage shall be solely for the account of the Swing Line Lender.
If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Revolving Loan Notice, but fails to specify an Interest Period, it will be deemed to have requested a LIBOR Floating Rate Loan.
If such Loan is a LIBOR Floating Rate Loan, a rate per annum equal at all times to the LIBOR Daily Floating Rate in effect from time to time plus the Applicable Margin, payable on each Quarterly Date while such LIBOR Floating Rate Loan is outstanding and on the date such LIBOR Floating Rate Loan shall be paid in full and on the Termination Date of such Lender.
If the Company shall fail to select the Type for any Conversion of Eurocurrency Rate Loans denominated in Dollar to another Type, the Administrative Agent will forthwith so notify the Company and the Lenders, whereupon each such Eurocurrency Rate Loan denominated in Dollars will automatically, on the last day of the then existing Interest Period therefor Convert into a LIBOR Floating Rate Loan.
Each Borrowing of, conversion to or continuation of a LIBOR Floating Rate Loan shall be in a principal amount of $500,000 or a whole multiple of $50,000 in excess thereof.
A Loan may be a Base Rate Loan or a LIBOR Floating Rate Loan, as further provided herein.
Any Borrower may, upon notice to the Lender, at any time or from time to time voluntarily prepay any Loan in whole or in part without premium or penalty; provided that (i) such notice must be received by the Lender not later than 1:00 p.m. on the date of prepayment of a Base Rate Loan; and (ii) any prepayment of a LIBOR Floating Rate Loan shall be in a principal amount of $100,000 or a whole multiple of $50,000 in excess thereof or, if less, the entire principal amount thereof then outstanding.
Upon receipt of such notice, the Borrowers may revoke any pending request for a borrowing of or conversion to a LIBOR Floating Rate Loan or, failing that, will be deemed to have converted such request into a request for a borrowing of Base Rate Loans in the amount specified therein.
Any Completed Loan Request (including any Conversion Request) for a Eurocurrency Term Rate Loan that would create greater than ten (10) Eurocurrency Term Rate Loans outstanding shall be deemed to be a Completed Loan Request or Conversion Request for a LIBOR Floating Rate Loan in the amount of the Dollar Equivalent thereof.
The undersigned, on behalf of the Borrower, hereby requests2: Indicate: Borrowing or Conversion or Continuation Indicate: Requested Amount Indicate: Base Rate Loan or Eurodollar Rate Loan or LIBOR Floating Rate Loan For Eurodollar Rate Loans Indicate: Interest Period (e.g. 1, 3 or 6 month interest period3) 1 Note to Borrower.

More Definitions of LIBOR Floating Rate Loan

LIBOR Floating Rate Loan means a Loan that bears interest at a rate based on the LIBOR Daily Floating Rate. “LIBOR Successor Rate” 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 Conforming Changes” means, with respect to any proposed LIBOR Successor Rate, any conforming changes to (a) the definitions of Base Rate, Interest Period and/or Applicable Rate, (b) timing and frequency of determining rates and making payments of interest and (c) other technical, administrative or operational matters as may be appropriate, in the discretion of the Administrative Agent, in consultation with the Borrower, to (i) reflect the adoption and implementation of such LIBOR Successor Rate and (ii) permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, 28