LIR Loan definition

LIR Loan means a Loan, or portion thereof, during any period in which it bears interest at a rate based on the LIBOR Index Rate.
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LIR Loan means Loans bearing interest at the LIBOR Index Rate.
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Examples of LIR Loan in a sentence

  • The rate of interest on any LIR Loan shall be adjusted as provided in the definition of “LIBOR Index Rate,” subject to Section 2.3(g).

  • Interest accrued on the Revolving Loans shall be due and payable on (i) the first day of each month (for the immediately preceding month), computed through the last day of the preceding month, with respect to any Revolving Loan that is a Base Rate Loan, an LIR Loan or a LIBOR Loan, and (ii) the last day of the applicable Interest Period also in the case of a LIBOR Loan.

  • Each Swingline Loan shall constitute a Revolving Loan hereunder, shall be an LIR Loan notwithstanding any request or deemed request for a Base Rate Loan, and shall be subject to all of the terms, conditions and security applicable to other Revolving Loans, except that all payments thereon shall be payable to Regions solely for its own account.

  • If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to the Lender in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day (i) if such Loan is a LIBOR Rate Loan, such Loan shall become a LIR Loan, (ii) if such Loan is a LIR Loan, such Loan shall remain a LIR Loan and (iii) if such Loan is a Base Rate Loan, such Loan shall remain a Base Rate Loan.

  • If the requested Loan is to be a Base Rate Loan or an LIR Loan then such Notice of Borrowing or request must be received by Agent at or before 12:00 noon on the Business Day on which Borrowers desire such Loan to be made.

  • From time to time, Borrower may prepay the principal amount of the Term Loan, in whole or in part, on one Business Days’ written notice for prepayment of that portion of the Term Loan which constitutes a Base Rate Loan or a LIR Loan.

  • Subject to the terms and conditions of this Agreement, (i) the Revolving Loans may be LIR Loans, and (ii) the Term Loan may be a LIR Loan.

  • The LIBOR Index Rate on the date hereof is _______ percent (____%) per annum and, therefore, the rate of interest in effect hereunder on the date hereof, expressed in simple interest terms (but on a 360-day basis), is _______ percent (____%) per annum with respect to any portion of the Revolving Loans bearing interest as a LIR Loan.

  • Borrowers shall pay interest on each LIR Loan at the LIBOR Index Rate, as reset from time to time, plus the Applicable Margin in effect from time to time.

  • Each prepayment of any portion of the Term Loan which constitutes a Base Rate or LIR Loan shall be in a minimum amount of $100,000.

Related to LIR Loan

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • Eurodollar Loan means any Loan bearing interest at a rate determined by reference to the Eurodollar Rate.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Dollar Loan means a Loan denominated in Dollars.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Domestic Rate Loan means any Advance that bears interest based upon the Alternate Base Rate.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Eurocurrency Loan means any Eurocurrency Term Loan or Eurocurrency Revolving Loan.

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

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

  • Euro-Dollar Loan means a Committed Loan which bears interest at a Euro-Dollar Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Bid Rate Loan means a loan made by a Lender under Section 2.2.

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.