LIBOR Loan definition

LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

LIBOR Loan means the Loan at such time as interest thereon accrues at a rate of interest based upon LIBOR.

LIBOR Loan means a Loan that bears interest based on LIBOR.

Examples of LIBOR Loan in a sentence

• Any Loan or group of Loans having the same proposed LIBOR Period to be made or continued as, or converted into, a LIBOR Loan must be in a minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of such amount.

• If no election is received with respect to a LIBOR Loan by 11:00 a.m. (New York time) on the third Business Day prior to the end of the LIBOR Period with respect thereto (or if an Event of Default has occurred and is continuing or if the additional conditions precedent set forth in Section 3.1 shall not have been satisfied), that LIBOR Loan shall be converted to a LIBOR Loan with a LIBOR Period of one month at the end of its LIBOR Period.

• Any such election must be made by 11:00 a.m. (New York time) on the third Business Day prior to (1) the date of any proposed Loan which is to bear interest at the LIBOR Rate, (2) the end of each LIBOR Period with respect to any LIBOR Loans to be continued as such, or (3) the date on which Borrower wishes to convert any Base Rate Loan to a LIBOR Loan for a LIBOR Period designated by Borrower in such election.

• Furthermore, if any LIBOR Loan is outstanding on the date of Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, then on the last day of the LIBOR Period applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day), such Loan shall be converted by the Agent to, and shall constitute, a Base Rate Loan on such day.

• Notice of the Loan must be given no later than (1) 10:00 a.m. (New York time) on the date that is one Business Day prior to the date of the proposed Loan, in the case of a Base Rate Loan, or (2) 10:00 a.m. (New York time) on the date which is three Business Days’ prior to the proposed Loan, in the case of a LIBOR Loan or a Term SOFR Loan.

More Definitions of LIBOR Loan

LIBOR Loan means any LIBOR Term Loan or LIBOR Revolving Credit Loan.

LIBOR Loan means any Loan accruing Interest at Adjusted LIBOR.

LIBOR Loan means any Loan bearing interest based upon the LIBO Rate.

LIBOR Loan each set of LIBOR Revolver Loans having a common length and commencement of Interest Period.

LIBOR Loan means any Loan bearing interest at a rate determined by reference to the LIBOR Rate (other than an ABR Loan bearing interest by reference to the LIBOR Rate by virtue of clause (c) of the definition of ABR).

LIBOR Loan means any Loan which bears interest at a rate determined by reference to the LIBOR Rate. LIBOR Margin - see the definition of Applicable Margin.

LIBOR Loan means each Loan designated as such by the Borrower at the time of the incurrence thereof or conversion thereto.