Line of Credit LIBO Rate Portion definition

Line of Credit LIBO Rate Portion shall have the meaning given the term in Section 3.2.b.
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Examples of Line of Credit LIBO Rate Portion in a sentence

  • Designation of a Line of Credit LIBO Rate Portion shall be made by delivery or telephone facsimile transmission to Bank of written notice signed by an Authorized Officer of such election, including designation of the amount of the proposed Line of Credit LIBO Rate Portion, the proposed Line of Credit Applicable Interest Period and the proposed effective date of the election.

  • At the end of any Line of Credit Applicable Interest Period, the interest rate will revert to the Regular Line of Credit Interest Rate, unless Borrower has designated another Optional Line of Credit Interest Rate for that Line of Credit LIBO Rate Portion.

  • Instead of the Regular Line of Credit Interest Rate, Borrower may elect to have up to five (5) advances on the outstanding principal balance of the Line of Credit (each a "Line of Credit LIBO Rate Portion") during the Line of Credit Availability Period bear interest at the LIBO Rate, as defined below, plus two and three-quarters percent (L+2.75%) (the "Optional Line of Credit Interest Rate") during an interest rate period designated by Borrower (the "Line of Credit Applicable Interest Period").

Related to Line of Credit LIBO Rate Portion

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Revolving Credit Loan has the meaning specified in Section 2.01(b).

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Revolving Credit Period means the period from and including the Effective Date to but excluding the Termination Date.

  • Revolving Credit Loans as defined in Section 2.1.

  • Revolving Line is an Advance or Advances in an amount equal to Ten Million Dollars ($10,000,000).

  • Revolving Advances means Advances made other than Letters of Credit.

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Eurodollar Rate Committed Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of “Eurodollar Rate.”

  • Committed Revolving Line means a credit extension of up to Two Million Dollars ($2,000,000).

  • Revolving Credit Percentage as to any Revolving Credit Lender at any time, the percentage which such Lender's Revolving Credit Commitment then constitutes of the Total Revolving Credit Commitments (or, at any time after the Revolving Credit Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender's Revolving Credit Loans then outstanding constitutes of the aggregate principal amount of the Revolving Credit Loans then outstanding).

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Credit Line as defined in Section 2.1.

  • Base Rate Committed Loan means a Committed Loan that is a Base Rate Loan.

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Other Revolving Credit Loans means one or more Classes of Revolving Credit Loans that result from a Refinancing Amendment.