Examples of LIBOR Termination Date in a sentence
If such notice is given prior to a LIBOR Termination Date (as defined in clause (b) below) or prior to the date on which Section 5.04(b) applies, then any outstanding or requested LIBOR Rate Loan shall begin accruing interest by reference to the Base Rate.
Following the occurrence of a LIBOR Termination Date, until an amendment reflecting a new replacement index in accordance with this Section 5.17(d) is effective, the Class A Note Rate shall be determined by the Calculation Agent by reference to the Alternative Rate and communicated to the Servicer and the Issuer, by facsimile or e-mail.
Further, if a LIBOR Termination Date shall have occurred, (a) any pending requests for LIBOR Loans shall be deemed ineffective, and (b) interest applicable for ABR Loans shall be calculated without giving effect to the Adjusted LIBO Rate.
Any prepayment of principal made on a date other than a Payment Date shall include any applicable LIBOR Breakage Costs (and, after the LIBOR Termination Date, any breakage fees and costs relating to any Interest Period in respect of the Alternative Index Rate).
If Lender determines (which determination shall be final and conclusive, absent manifest error) that a LIBOR Termination Date has occurred, then following the LIBOR Termination Date, all LIBOR Rate Loans shall bear interest in accordance with Section 2.5(d) until such time as an amendment reflecting a replacement index and related matters as described above is implemented.