LIBOR Rate Interest Period definition

LIBOR Rate Interest Period. With respect to each amount bearing interest at a LIBOR based rate, a period of one, two, three or six month(s), to the extent deposits with such maturity is available to Lender, commencing on a LIBOR Business Day, as selected by Borrowers provided, however, that (i) any LIBOR Rate Interest Period which would otherwise end on a day which is not a LIBOR Business Day shall continue to and end on the next succeeding LIBOR Business Day, unless the result would be that such LIBOR Rate Interest Period would be extended to the next succeeding calendar month, in which case such LIBOR Rate Interest Period shall end on the next preceding LIBOR Business Day, (ii) each LIBOR Rate Interest Period shall end on the last LIBOR Adjustment Date occurring prior to the scheduled end of such LIBOR Rate Interest Period, and (iii) any LIBOR Rate Interest Period which begins on a day for which there is no numerically corresponding date in the calendar month in which such LIBOR Rate Interest Period would otherwise end shall instead end on the last LIBOR Business Day of such calendar month.

LIBOR Rate Interest Period means any applicable 30-Day LIBOR Rate Interest Period, 60-Day LIBOR Rate Interest Period, or 90-Day LIBOR Rate Interest Period.

LIBOR Rate Interest Period. With respect to each amount bearing interest at a LIBOR based rate, a period of one month, to the extent deposits with such maturity is available to the Lenders, commencing on a LIBOR Business Day provided, however, that each LIBOR Rate Interest Period shall end on the last LIBOR Adjustment Date occurring prior to the scheduled end of such LIBOR Rate Interest Period. Loan: As such term is defined in Recital I on page 1 of this Agreement.

Examples of LIBOR Rate Interest Period in a sentence

• Notwithstanding the foregoing, if Borrower shall elect a LIBOR Rate Option, only so much of the outstanding principal amount of the Loan as would not become due and payable during the applicable LIBOR Rate Interest Period shall accrue interest at the Adjusted LIBOR Rate and the remaining principal balance shall accrue interest at the Adjusted Base Rate.

• If any LIBOR Rate Interest Period begins on a day of a calendar month for which there is no numerically corresponding day in the month in which such Interest Period is to end, the final month of such Interest Period shall be deemed to end on the last Business Day of such final month.

• During such periods as such Revolving Credit Advance is a Specified LIBOR Rate Advance, a rate per annum equal at all times during each Specified LIBOR Rate Interest Period to the Specified LIBOR Rate for such Specified LIBOR Rate Interest Period, payable in arrears on the last day of such Specified LIBOR Rate Interest Period and on the date such Specified LIBOR Rate Advance shall be paid in full.

• The Applicable Rate for any portion of the Loan with respect to which Borrower has elected the LIBOR Rate Option shall revert to the Adjusted Base Rate as of the last day of the LIBOR Rate Interest Period applicable thereto (unless Borrowers again exercise the LIBOR Rate Option for such portion of the Loan).

• Thereafter, Borrowers shall not be entitled to exercise the LIBOR Rate Option until such time as the situation described herein is no longer in effect or can be avoided by Borrowers exercising a LIBOR Rate Option for a LIBOR Rate Interest Period.

More Definitions of LIBOR Rate Interest Period

LIBOR Rate Interest Period means one (1) month, provided that (i) if any LIBOR Rate Interest Period would otherwise expire on a day which is not a LIBOR Rate Bank Day, the LIBOR Rate Interest Period shall be extended to the next succeeding LIBOR Rate Bank Day (provided, however, that if such next succeeding LIBOR Rate Bank Day occurs in the following calendar month, then the LIBOR Rate Interest Period shall expire on the immediately preceding LIBOR Rate Bank Day.)

LIBOR Rate Interest Period means, as to any advance to which the LIBOR Rate Option applies, the period of one (1), two (2), three (3) or six (6) months as selected by the Borrower in its notice of borrowing or notice of conversion, as the case may be, commencing on the date of disbursement of an advance (or the date of conversion of an advance to the LIBOR Rate Option, as the case may be) and each successive period selected by the Borrower thereafter; provided that, (i) if a LIBOR Rate Interest Period would end on a day which is not a Business Day, it shall end on the next succeeding Business Day unless such day falls in the next succeeding calendar month in which case the LIBOR Rate Interest Period shall end on the next preceding Business Day, (ii) the Borrower may not select a LIBOR Rate Interest Period that would end on a day after the Expiration Date, and (iii) any LIBOR Rate Interest Period that begins on the last Business Day of a calendar month (or a day for which there is no numerically corresponding day in the last calendar month of such LIBOR Interest Period) shall end on the last Business Day of the last calendar month of such LIBOR Rate Interest Period.

LIBOR Rate Interest Period means any applicable 90-Day LIBOR Rate Interest Period or 180-Day LIBOR Rate Interest Period.

LIBOR Rate Interest Period means a period of three months (90 days), or such longer or shorter period as Cavalier Homes, on behalf of itself and the other Borrowers, and Lender may agree from time to time. A month means a period of thirty (30) days. If any LIBOR Interest Period would otherwise end on a day which is not a Banking Day, the LIBOR Rate Interest Period shall end on the next Banking Day.

LIBOR Rate Interest Period. Any individual period equal to one (1), two (2) or three (3) months selected by the Borrower commencing on the Borrowing Date, a conversion date or a renewal date of a LIBOR Rate Portion to which such period shall apply.

LIBOR Rate Interest Period means the period of one, two, three or six months selected by the Borrower commencing on the date of the exercise of the LIBOR Rate Option as to any portion of the Line of Credit and each successive period selected by the Borrower thereafter; provided, that (i) if a LIBOR Rate Interest Period would end on a day which is not a Business Day, it shall end on the next succeeding Business Day; unless such day falls in the succeeding calendar month in which case the LIBOR Rate Interest Period shall end on the next preceding Business Day; (ii) the Borrower may not select a LIBOR Rate Interest Period that would end on a day after the end of the Line of Credit Term, and; (iii) any LIBOR Rate Interest Period that begins on the last business day of a calendar month (or a day for which there is no numerically corresponding day in the last calendar month of such LIBOR Rate Interest Period) shall end in the last business day of the last calendar month of such LIBOR Rate Interest Period.

LIBOR Rate Interest Period means, with respect to any Libor Rate Election, the period commencing on the date such Libor Rate Election is effective and ending not less than one month, three months, six months, or twelve months thereafter, as selected by Borrower; provided, however, that (i) if any Libor Rate Interest Period would end on a day that is not a Business Day, such Libor Interest Rate Period shall be extended to the next succeeding Business Day, and (ii) if any Libor Rate Interest Period would otherwise end after the Maturity Date, such Libor Interest Rate Period shall end on the Maturity Date.