LIBOR Premium. With respect to the prepayment of any LIBOR Portion of any Revolving Credit Loans prior to the end of the applicable LIBOR Period, an amount equal to the product of (i) the excess, if any, of the original LIBOR Rate on the amount so prepaid over the LIBOR Rate of interest on Eurodollar deposits in effect on the date of such prepayment and having a maturity date approximating the last Banking Day of the applicable LIBOR Period, multiplied by (ii) the principal amount so prepaid, multiplied by (iii) a fraction, the numerator of which is the number of days remaining in the related LIBOR Period and the denominator of which is 360. If the result of clause (i) is less than or equal to zero, there shall be no LIBOR Premium.
LIBOR Premium. The Borrower agrees that it shall not refinance the LIBOR Portion during the LIBOR Period, including during any renewal hereunder. Notwithstanding such agreement not to refinance, should the Borrower refinance the LIBOR Standard Rate Portion at a more favorable interest rate, the Borrower agrees to pay the Bank a premium in the amount of One Thousand Dollars ($1,000.00). For purposes hereunder, a "refinance" means any unscheduled payment of principal amounts of the LIBOR Portion.
LIBOR Premium with respect to any Floating Note, a premium of (i) three percent (3%) of the principal amount prepaid, if the prepayment occurs on or before Xxxxx 00, 0000, (xx) two percent (2%) of the principal amount prepaid, if the prepayment occurs on or after April 1, 2000 and on or before March 31, 2001 and (iii) one percent (1%) of the principal amount prepaid, if the prepayment occurs on or after April 1, 2001 and on or before March 31, 2002.
Examples of LIBOR Premium in a sentence
The Borrower may, at its option, from time to time prepay all or any portion of the Revolving Credit Loans made from time to time hereunder, subject at all times to payment of any applicable LIBOR Premium, compliance with the provisions of subsection 5.10, and, subject to compliance with subsection 4.3, the Borrower may reborrow from time to time hereunder amounts so paid up to the amount of the Maximum Line Commitment.
Any prepayment of the Floating Notes shall be subject to and include the LIBOR Premium.
On at least two (2) Banking Days prior written notice to the Bank with respect to Revolving Loans subject to an exercised LIBOR Option and on at least one (1) Banking Day prior written notice to the Bank with respect to all other Revolving Loans, the Credit Parties may, at their option, prepay the Notes in whole at any time or in part from time to time without penalty or premium; PROVIDED, that any prepayment of any LIBOR Portion shall be made together with the applicable LIBOR Premium.
Any mandatory prepayment of the Revolving Credit Loans pursuant to this subparagraph (b) shall be applied: (i) first, to the prepayment of Revolving Credit Loans which are not then subject to a LIBOR Option, which prepayment will be made without penalty or premium; and (ii) the balance of such prepayment, if any, shall be applied to the LIBOR Portion or Portions of the Revolving Credit Loans, which prepayment shall be made together with the applicable LIBOR Premium.
On at least two (2) Banking Days prior written notice to the Bank with respect to Revolving Loans subject to an exercised LIBOR Option and on at least one (1) Banking Day prior written notice to the Bank with respect to all other Revolving Loans, the Company may, at its option, prepay the Note in whole at any time or in part from time to time without penalty or premium; PROVIDED, that any prepayment of any LIBOR Portion shall be made together with the applicable LIBOR Premium.
More Definitions of LIBOR Premium
LIBOR Premium with respect to any Floating Note, a premium of (i) three percent (3%) of the principal amount prepaid, if the prepayment occurs on or before the date that is two years following the date of issuance of such Floating Note, (ii) two percent (2%) of the principal amount prepaid, if the prepayment occurs after the date that is two years following and on or before the date that is three years following the date of issuance of such Floating Note, and (iii) one percent (1%) of the principal amount prepaid, if the prepayment occurs after the date that is three years following and on or before the date that is four years following the date of issuance of such Floating Note.
LIBOR Premium with respect to any 2003 Series A Notes that are subject to the Series A Floating Rate, a premium of (a) five percent (5%) of the principal amount prepaid, if the prepayment occurs after the date that is five (5) years following and on or before the date that is six (6) years following the Closing Date; (b) four percent (4%) of the principal amount prepaid, if the prepayment occurs after the date that is six (6) years following and on or before the date that is seven (7) years following the Closing Date; (c) three percent (3%) of the principal amount prepaid, if the prepayment occurs after the date that is seven (7) years following and on or before the date that is eight (8) years following the Closing Date; (d) two percent (2%) of the principal amount prepaid, if the prepayment occurs after the date that is eight (8) years following and on or before the date that is nine (9) years following the Closing Date; and (e) one percent (1%) of the principal amount prepaid, if the prepayment occurs after the date that is nine (9) years following and on or before the date that is ten (10) years following the Closing Date. LIBOR Rate: the rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%), as determined on the basis of the offered rates for deposits in dollars, for a period of time comparable to such Interest Period, which appears on the display designated as “Currency BBAM 1” on the Bloomberg Financial Markets service provided by Bloomberg L.P. (or such other display as may replace Currency BBAM 1 on the Bloomberg Financial Markets) as of 11:00 a.m. London time (or as soon thereafter as practical) on the date that is two (2) LIBOR Business Days prior to the first day of such Interest Period, or (ii) if such rate ceases to be reported in accordance with the above definition on the display designated as “Currency BBAM 1” on the Bloomberg Financial Markets (or such other display as may replace Currency BBAM 1 on the Bloomberg Financial Markets), the rate per annum quoted by Hxxxxxx (or its successor) (with respect to the 2003 Series A Notes) or ING (or its successor) (with respect to the 2003 Series B Notes) at approximately 11:00 A.M. (New York City time) on the date that is two LIBOR Business Days prior to the first day of such Interest Period for loans in dollars to leading European banks for a period equal to such Interest Period, commencing on the first day of such Interest Period, and in an amount comparable to the aggregate princip...
LIBOR Premium with respect to the prepayment of any LIBOR Portion of any Loans (other than a prepayment pursuant to subsection 1.10(c) hereof), an amount equal to the product of (i) the excess, if any, of the rate of interest on the principal amount so prepaid over the rate of interest on debt securities issued by the Treasury of the United States of America on a date approximating the date of payment of such principal amount and having a maturity date approximating the last Banking Day of the applicable LIBOR Period, multiplied by (ii) the principal amount so prepaid, multiplied by (iii) a fraction, the numerator of which is the number of days remaining in the related LIBOR Period and the denominator of which is 360. Each determination by the Bank of any LIBOR Premium shall, in the absence of manifest error, be conclusive.
LIBOR Premium with respect to the prepayment of any LIBOR-based Loans, an ------------- amount equal to the product of (i) the excess, if any, of the original LIBOR Rate on the amount so prepaid over the LIBOR Rate of interest on Eurodollar deposits having a maturity date approximating the last Banking Day of the applicable LIBOR Period, multiplied by (ii) the principal amount so prepaid, multiplied by (iii) a fraction, the numerator of which is the number of days remaining in the related LIBOR Period and the denominator of which is 360.
LIBOR Premium means (i) a per annum interest rate of 0% on any date on which Facility Utilization is less than or equal to 50%, and (ii) on any date on which Facility Utilization exceeds 50%, a per annum interest rate determined in accordance with the following table: EBITDA Rating Margin (expressed per annum) ------------- ----------------------------
LIBOR Premium with respect to any Floating Note, a premium of (a) five percent (5%) of the principal amount prepaid, if the prepayment occurs after the date that is five (5) years following and on or before the date that is six (6) years following the date of issuance of such Floating Note; (b) four percent (4%) of the principal amount prepaid, if the prepayment occurs after the date that is six (6) years following and on or before the date that is seven (7) years following the date of issuance of such Floating Note; (c) three percent (3%) of the principal amount prepaid, if the prepayment occurs after the date that is seven (7) years following and on or before the date that is eight (8) years following the date of issuance of such Floating Note; (d) two percent (2%) of the principal amount prepaid, if the prepayment occurs after the date that is eight (8) years following and on or before the date that is nine (9) years following the date of issuance of such Floating Note; and (e) one percent (1%) of the principal amount prepaid, if the prepayment occurs after the date that is nine (9) years following and on or before the date that is ten (10) years following the date of issuance of such Floating Note.
LIBOR Premium means an amount equal to twenty-five (25) basis points per annum, which shall be applicable only until the Borrower completes the Secondary Public Offering.