NIBOR Loan definition

NIBOR Loan means each Loan designated as such by a Borrower at the time of the incurrence thereof or conversion thereto.
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NIBOR Loan means any Revolving Loan bearing interest at a rate determined by reference to the NIBO Rate in accordance with the provisions of Article II.
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Examples of NIBOR Loan in a sentence

  • If the applicable Borrower shall not have given timely notice to continue any Loan into a subsequent Interest Period (and shall not otherwise have given timely notice to convert such Loan), such Loan shall, subject to clauses (c), (d), and (e) above, automatically be continued into a new Interest Period, which shall be of one month's duration in the case of a LIBOR Loan or a NIBOR Loan.

  • If the Borrower shall not have given timely notice to continue any Loan (other than a Competitive Loan or a Swingline Loan) into a subsequent Interest Period (and shall not otherwise have given notice to convert such Loan), such Loan (unless repaid pursuant to the terms hereof) shall, subject to clauses (c) and (e) above, automatically be continued into a new Interest Period, which shall be of one month's duration, in the case of a LIBOR Loan, or one week's duration, in the case of a NIBOR Loan.

  • The Interest Period applicable to any LIBOR Revolving Loan or NIBOR Loan resulting from a conversion of a Loan shall be specified by the Borrower in the irrevocable notice of conversion delivered pursuant to this Section; provided, however, that if no such Interest Period shall be specified, the Borrower shall be deemed to have selected an Interest Period of one month's duration, in the case of a LIBOR Loan, or one week's duration, in the case of a NIBOR Loan.

  • The Interest Period applicable to any LIBOR Loan or NIBOR Loan resulting from a conversion or continuation of a Loan shall be specified by the applicable Borrower in the irrevocable notice of conversion or continuation delivered pursuant to this Section; provided, however, that if no such Interest Period shall be specified, the applicable Borrower shall be deemed to have selected an Interest Period of one month's duration, in the case of a LIBOR Loan or a NIBOR Loan.

  • During any Event of Default, Agent may (and shall at the direction of Required Borrower Group Lenders of the Borrower Group that consists of the Norwegian Borrowers) declare that no Loan may be made or continued as a NIBOR Loan.

  • Upon receipt of such notice, a Loan Party Agent may revoke any pending request for a Borrowing of, conversion to or continuation of an Interest Period Loan or, failing that, will be deemed to have submitted a request for a Floating Rate Loan (or, in the case of a request for a NIBOR Loan, a Norwegian Swingline Loan).

  • Additional interest payable pursuant to the immediately preceding sentence shall be paid by the Borrower at the time that it is otherwise required to pay interest in respect of such NIBOR Loan.

  • NIBOR Loan: each set of NIBOR Revolver Loans having a common length and commencement of Interest Period.

Related to NIBOR Loan

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

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

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

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

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

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

  • Dollar Loan means a Loan denominated in Dollars.

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

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

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

  • Absolute Rate Loan means a Bid Loan that bears interest at a rate determined with reference to an Absolute Rate.

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

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

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Eurocurrency Rate.

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

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

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

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

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

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

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.