Examples of LIBOR Revolving Loan in a sentence
Each entry on the schedule to the Tax-Exempt LIBOR Note with respect to a Tax-Exempt LIBOR Revolving Loan shall reflect the applicable principal amount and the applicable interest rate.
Any Request for Advance shall be signed by a Designated Representative and shall specify whether the requested Advance shall be a Tax-Exempt LIBOR Revolving Loan or a Taxable Revolving Loan.
All Tax-Exempt LIBOR Revolving Loans made by the Lender and all payments and prepayments made on account of principal thereof shall be recorded by the Lender on the schedule (or a continuation thereof) attached to the Tax-Exempt LIBOR Note, it being understood, however, that failure by the Lender to make any such endorsement shall not affect the obligations of the Authority hereunder or under the Tax-Exempt LIBOR Note in respect of unpaid principal and interest on any Tax-Exempt LIBOR Revolving Loan.
As provided in Section 2.03(c) hereof, the Authority may elect that any such Revolving Loan be either a Tax-Exempt LIBOR Revolving Loan pursuant to the Tax-Exempt Loan Commitment or a Taxable Revolving Loan pursuant to the Taxable Loan Commitment.
Default, the Borrower may not elect to have a Loan converted into or continued as, after the existing Interest Period, a LIBOR Revolving Loan.