Examples of Term Loan LIBOR Rate in a sentence
The rate at which the loans under the Amended Term Loan Credit Agreement bear interest is equal to, at Term Loan Borrower’s election (i) the Term Loan LIBOR Rate plus 2.75% per annum or (ii) the Term Loan Base Rate plus 1.75% per annum.
The Term Loan LIBOR Rate shall be deemed to be not less than 1.00%.
The Amended Term Loan Credit Agreement provides for a $820 million delayed draw senior secured term loan facility (the “Incremental Term Loan Facility”) and the Term Loan Credit Agreement Amendment (i) effectuated a reduction of the applicable interest margin and the Term Loan LIBOR Rate floor for term loans outstanding on the date of the amendment and (ii) extends the maturity of term loans outstanding on the date of the amendment.
In such event: (i) any pending request for a Term Loan LIBOR Rate shall be of no effect; and (ii) the obligation of the Bank to maintain or offer Term Loan LIBOR Rates shall be suspended until the Bank determines that the circumstances giving rise to such suspension no longer exist, whereupon the Bank shall notify the Borrower.
Subject to clause (d) below, interest on (A) the entire Initial Term Loan shall be charged at a rate of interest based upon the LIBOR Rate plus the Initial Term Loan LIBOR Rate Margin in accordance with Section 2.6(a) and (B) the entire Second Amendment Term Loan shall be charged at a rate of interest based upon the LIBOR Rate plus the Second Amendment Term Loan LIBOR Rate Margin in accordance with Section 2.6(a).
From the Closing Date through August 31, 2010, the Term Loan shall be classified as a Prime Rate Loan and upon Agent’s receipt of Borrowers’ written request in accordance with and pursuant to the next paragraph, shall be converted to a Term Loan LIBOR Rate Loan on September 1, 2010.
Provided, however, Borrowers shall have the option of designating a portion of Term Loan B as a Loan which bears interest at the LIBOR Rate, plus the Term Loan LIBOR Rate Margin, or converting the interest rate for all or a portion of Term Loan B to the LIBOR Rate, plus the Term Loan LIBOR Rate Margin, in accordance with Section 2.3 below.
Whenever Borrower desires that the 2000 Term Loan bear interest at a Term Loan LIBOR Rate or a Term Loan Cost of Funds Rate: it shall give Bank not less than two (2) Business Days notice of such request; and the effective date of a Term Loan LIBOR Rate request or a Term Loan Cost of Funds Rate shall be a Business Day.
The third condition, from H.R. 2088, allows customers to receive official domestic inspection or weighing from a service provider in an adjacent geographic area if both the prospective serviceprovider and the current one agree to waive, in writing, the current geographic area restriction at the request of the customer.
Each Term Loan Optional Prepayment shall be accompanied by the payment of all charges outstanding on the Term Loan LIBOR Rate Loan (including any LIBOR Breakage Fee) and all accrued interest on the principal repaid to the date of payment.