LIBOR Rate Borrowing definition

LIBOR Rate Borrowing means a Borrowing bearing interest at the sum of the LIBOR Rate plus the Applicable Margin.

LIBOR Rate Borrowing means a Borrowing consisting of LIBOR Rate Loans.

LIBOR Rate Borrowing means each portion of the principal balance of the Loans at any time bearing interest at the LIBOR Rate.

Examples of LIBOR Rate Borrowing in a sentence

• Accrued interest on each LIBOR Rate Borrowing shall be due and payable on the last day of its Interest Period.

• If any Interest Period for a LIBOR Rate Borrowing is greater than three months, then accrued interest shall also be due and payable on the date three months after the commencement of the Interest Period.

• If, however, the payment concerns a LIBOR Rate Borrowing and if the next succeeding Business Day is in the next calendar month, then that payment must be made on the next preceding Business Day.

• If any such Interest Election Request requests a LIBOR Rate Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.

• Any such conversion or election may be made by telephonic request to the Administrative Agent no later than 10:00 a.m. on the third Business Day before the conversion date or the last day of the Interest Period, as the case may be (for conversion to a LIBOR Rate Borrowing or election of a new Interest Period), and no later than 11:00 a.m. on the last day of the Interest Period (for conversion to a Base Rate Borrowing).

More Definitions of LIBOR Rate Borrowing

LIBOR Rate Borrowing means any Loan or portion of a Loan that accrues interest at a LIBOR Borrowing Rate, as selected by Borrower. The minimum amount of each LIBOR Rate Borrowing shall be $500,000.

LIBOR Rate Borrowing means a Borrowing consisting of LIBOR Rate Advances.

LIBOR Rate Borrowing means a Domestic Borrowing advanced to Borrower through Administrative Agent in accordance with Section 2.3, which Borrowing bears interest at the sum of the LIBOR Rate plus the Applicable Margin.

LIBOR Rate Borrowing means (i) each Revolver Loan Advance (whether bearing interest at the Daily LIBOR Rate Notice, 30-Day LIBOR Rate, 60-Day LIBOR Rate or a 90-Day LIBOR Rate and (ii) the Term Loan bearing interest at the 30-Day LIBOR Rate.

LIBOR Rate Borrowing means any borrowing with respect to which Borrower has properly given a 30-Day LIBOR Rate Notice, a 60-Day LIBOR Rate Notice or a 90-Day LIBOR Rate Notice.

LIBOR Rate Borrowing means and refer to that portion of outstanding -------------------- borrowings evidenced by the Revolving Note or the Term Note, as the case may be, as to which, pursuant to Section 2.4, Borrower has elected to be charged interest at a rate computed by reference to the LIBOR Rate.

LIBOR Rate Borrowing means a Borrowing comprised of LIBOR Rate Loans.