Interest Periods for LIBOR. Rate Loans shall be for one (1), two (2) or three (3) months. At the election of Agent or Required Lenders, no LIBOR Rate Loan shall be made available to the Borrowers during the continuance of a Default or an Event of Default. After giving effect to each LIBOR Rate Loan (or any conversion to a LIBOR Rate Loan), there shall not be outstanding more than six (6) LIBOR Rate Loans in the aggregate.
Appears in 1 contract
Interest Periods for LIBOR. Rate Loans shall be for one (1), two (2) or ), three (3) or six (6) months. At the election of Agent or Required Lenders, no LIBOR Rate Loan shall be made available to the Borrowers during the continuance of a Default or an Event of Default. After giving effect to each LIBOR Rate Loan (or any conversion to a LIBOR Rate Loan), there shall not be outstanding more than six five (65) LIBOR Rate Loans in the aggregate.
Appears in 1 contract
Sources: Loan and Security Agreement (American Outdoor Brands, Inc.)
Interest Periods for LIBOR. Rate Loans shall be for one (1), two (2) or ), three (3) or six (6) months. At the election of Agent or Required Lenders, no LIBOR Rate Loan shall be made available to the Borrowers during the continuance of a Default or an Event of Default. After giving effect to each LIBOR Rate Loan (or any conversion to a LIBOR Rate Loan), there shall not be outstanding more than six eight (6) 8) LIBOR Rate Loans in the aggregate.
Appears in 1 contract
Sources: Loan and Security Agreement (Forbes Energy International, LLC)