LIBOR Rate Option definition

LIBOR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(ii) [Revolving Credit LIBOR Rate Option].
LIBOR Rate Option. A rate per annum (computed on the basis of a year of 360 days and actual days elapsed) equal to the LIBOR Rate plus the Applicable Margin, such interest rate to change automatically from time to time as of the effective date of each change in the Applicable Margin.
LIBOR Rate Option. The Rate Option in which interest is calculated based upon the Libor Rate.

Examples of LIBOR Rate Option in a sentence

  • In the case of the renewal of a LIBOR Rate Option at the end of an Interest Period, the first day of the new Interest Period shall be the last day of the preceding Interest Period, without duplication in payment of interest for such day.

  • Interest on Loans to which the LIBOR Rate Option applies shall be due and payable on the last day of each Interest Period for those Loans and, if such Interest Period is longer than three (3) Months, also on the 90th day of such Interest Period.

  • At any time when the Borrower shall select, convert to or renew a LIBOR Rate Option, the Borrower shall notify the Administrative Agent thereof at least three (3) Business Days prior to the effective date of such LIBOR Rate Option by delivering a Loan Request.

  • Deposits Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 5.10 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments].

  • All prepayments required pursuant to this Section 5.7 shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to the Base Rate Option, then to Loans subject to a LIBOR Rate Option.


More Definitions of LIBOR Rate Option

LIBOR Rate Option. As defined in Section 5.1(b).
LIBOR Rate Option means interest determined pursuant to Section 4.01(b) and related provisions hereof.
LIBOR Rate Option shall have the meaning given to such term in Section 2.2(a)(ii).
LIBOR Rate Option shall have the meaning set forth in Section 3.1(b).
LIBOR Rate Option. A rate per annum for each day equal to the Libor Rate for ----------------- such day plus one and one-half (1.5) percentage points.
LIBOR Rate Option means the option of the Borrower to have Advances bear interest at the rate and under the terms set forth in Section 2.2.
LIBOR Rate Option means any election by Borrower, in accordance with paragraph 3.1.2, to have any Tranche bear interest at the LIBOR Based Rate.