Examples of Offered Rate Loan in a sentence
In the event that the Applicable Borrower fails to provide any such notice with respect to the continuation of any Applicable Offered Rate Loan as such, then such Applicable Offered Rate Loan shall be automatically continued with an Interest Period of one month on the last day of the first Interest Period relating thereto.
Each Conversion Request relating to the conversion of a Domestic Revolving Loan or Canadian Revolving Loan to an Applicable Offered Rate Loan shall be irrevocable by the Applicable Borrower.
Each such notice shall be irrevocable and specify in each case (I) the date of Borrowing (which shall be a Business Day), (II) the aggregate principal amount of the Swingline Loan to be made pursuant to such Borrowing and (III) whether such Swingline Loan shall be made and maintained as a Base Rate Loan or an Offered Rate Loan.
Notwithstanding anything herein to the contrary, the Borrowers shall not be permitted to request (a) that any Revolving Credit Loan be denominated in any currency other than a Permitted Currency or (b) that any Revolving Credit Loan other than a Interbank Offered Rate Loan be denominated in a currency other than Dollars.
The Company shall give the Agent notice (which may be written or oral) of each Swing Loan requested by it hereunder no later than 2:00 p.m. (Chicago time) in the case of a Swing Loan bearing interest based on the Domestic Rate and no later than 12:00 noon (Chicago time) in the case of an Offered Rate Loan, in each case on the day of the requested Swing Loan.