LIBOR Rate Election definition

LIBOR Rate Election means an election by Borrower of an applicable LIBOR Rate in accordance with this Agreement.

LIBOR Rate Election means the election by the Borrower of the LIBOR Rate. If by reason of an Event of Default, the Bank elects to declare the Revolving Note to be immediately due and payable, then any yield maintenance fee with respect to a LIBOR Loan shall become due and payable in the same manner as though Borrower had exercised such right of prepayment.

LIBOR Rate Election means the election by the Company of the LIBOR Rate.

Examples of LIBOR Rate Election in a sentence

• The resulting amount shall be divided by 360 and multiplied by the number of days remaining in the term chosen pursuant to the LIBOR Rate Election as to which the prepayment is made.

• Said amount shall be reduced to present value calculated by using the above referenced United States Treasury securities rate and the number of days remaining in the term chosen pursuant to the LIBOR Rate Election as to which prepayment is made.

• Each reference in this paragraph to "LIBOR Rate Election" shall mean the election by the Borrower of the LIBOR Rate.

• Borrower may not prepay all or any portion of the Amount of Note outstanding during any Interest Period (as defined in the Loan Agreement) for which Borrower has made a LIBOR Rate Election (as defined in the Loan Agreement).

• If, for any reason, an effective election is not made in accordance with the terms and conditions hereof for any principal advance or for any LIBOR Rate Principal for which the corresponding Interest Period is expiring, or to convert Base Rate Principal to LIBOR Rate Principal, then the sums in question will be Base Rate Principal until an effective LIBOR Rate Election is thereafter made for such sums.

More Definitions of LIBOR Rate Election

LIBOR Rate Election means any oral (including, but not limited to, telephonic), written or other (including, but not limited to, facsimile) election to have the interest charged for any period on a portion of the aggregate outstanding principal amounts of all Revolving Loans or Term Loans determined by reference to the Libor Rate for such period.

LIBOR Rate Election means an election by the Borrower of an applicable LIBOR Rate in accordance with this Note.

LIBOR Rate Election means an election by Borrowers of an applicable LIBOR Rate in accordance with this Note.

LIBOR Rate Election means an election by Borrxxxx, xx hereinafter provided, to cause a portion of the previously advanced proceeds of the Loan to be segregated into a separate account and bear interest at the Libor Rate, rather than the Stated Rate for the term of the Election.

LIBOR Rate Election means the notice given by the Company in accordance with Section 2.01(b) hereof wherein the Company selects or continues a LIBOR Rate Loan or converts a Prime Rate Loan or a CD Rate Loan to a LIBOR Rate Loan.

LIBOR Rate Election each election by the Borrowers with respect to the LIBOR Rate Period for each LIBOR Rate Loan as described in Subsection 2.3(b).

LIBOR Rate Election is defined in Section 2.2(E).