LIBOR Rate Advances definition

LIBOR Rate Advances means any Advances made or a portion thereof on which interest is payable based on the LIBOR Rate in accordance with the terms hereof.

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LIBOR Rate Advances means any ADVANCE, the interest rate on which is calculated by reference to the LIBOR RATE.

LIBOR Rate Advances means that portion of the Revolving Loan bearing interest calculated by reference to the LIBOR Rate in the Lender Credit Agreement.

Examples of LIBOR Rate Advances in a sentence

• To the extent reasonably possible, each Lender shall designate an alternate Lending Installation with respect to its LIBOR Rate Loans to reduce any liability of the Borrower to such Lender under Sections 3.1, 3.2 and 3.5 or to avoid the unavailability of LIBOR Rate Advances under Section 3.3, so long as such designation is not, in the reasonable judgment of such Lender, disadvantageous to such Lender.

• Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBOR Rate Advances.

• The Advances may be Swingline Advances, ratable Floating Rate Advances or ratable LIBOR Rate Advances.

• The ratable Advances may be Floating Rate Advances, LIBOR Rate Advances or a combination thereof, selected by the Borrower in accordance with Sections 2.8 and 2.9.

• Such request shall specify the amount of the Prime Rate Advances which will constitute LIBOR Rate Advances (subject to the limits set forth below) and the Interest Period to be applicable to such LIBOR Rate Advances.

More Definitions of LIBOR Rate Advances

LIBOR Rate Advances. All Advances bearing interest at a rate based on LIBOR.

LIBOR Rate Advances means that portion of the Revolving Loan bearing interest calculated by reference to the LIBOR Rate.

LIBOR Rate Advances. During such periods as such Revolving Credit Advance is a LIBOR Rate Advance, a rate per annum equal at all times during each Interest Period for such Revolving Credit Advance to the sum of: (x) the LIBOR Rate for such Interest Period for such Revolving Credit Advance, plus (y) the Applicable Margin, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such LIBOR Rate Advance shall be Converted or paid in full.

LIBOR Rate Advances means Advances bearing interest calculated on the basis of the LIBOR Adjusted Rate.

LIBOR Rate Advances means any Advances made or a portion thereof on which interest is payable based on the LIBOR Rate in accordance with the terms hereof. "Regulatory Change" means, with respect to Bank, any change on or after the date of this Agreement in United States federal, state or foreign laws or regulations, including Regulation D, or the adoption or making on or after such date of any interpretations, directives or requests applying to a class of lenders including Bank of or under any United States federal or state, or any foreign, laws or regulations (whether or not having the force of law) by any court or governmental or monetary authority charged with the interpretation or administration thereof. "Reserve Requirement" means, for any Interest Period, the average maximum rate at which reserves (including any marginal, supplemental or emergency reserves) are required to be maintained during such Interest Period under Regulation D against "Eurocurrency liabilities" (as such term is used in Regulation D) by member banks of the Federal Reserve System. Without limiting the effect of the foregoing, the Reserve Requirement shall reflect any other reserves required to be maintained by Bank by reason of any Regulatory Change against (i) any category of liabilities which includes deposits by reference to which the LIBOR Rate is to be determined as provided in the definition of "LIBOR Base Rate" or (ii) any category of extensions of credit or other assets which include Advances.

LIBOR Rate Advances. Each LIBOR Rate Advance shall be in an amount of not less than One Million Dollars ($1,000,000). The outstanding principal balance of each LIBOR Rate Advance shall bear interest until principal is due (computed daily on the basis of a 360 day year and actual days elapsed) at a rate per annum equal to the LIBOR Rate plus Two Percent (2.0%) for such LIBOR Rate Advance. Unless converted or continued pursuant to Section 2.6, the entire outstanding principal amount of each LIBOR Rate Advance shall be due and payable on the earlier of (i) the last day of the LIBOR Rate Interest Period for such LIBOR Rate Advance, and (ii) the Revolving Maturity Date. At no time may the outstanding LIBOR Rate Advances be subject to more than three LIBOR Rate Interest Periods.”

LIBOR Rate Advances means Revolving Credit Advances bearing interest at rates based upon the LIBOR Rate.