LIBOR Rate Option. Under the LIBOR Rate Option, the Borrowing Tranches of the Revolving Credit Loans or the Term Loan bearing interest at such Option shall bear interest at a rate per annum equal to the sum of the LIBOR Rate plus the Applicable Margin for the applicable Loan.
Appears in 2 contracts
Sources: Credit Agreement (Universal Stainless & Alloy Products Inc), Credit Agreement (Universal Stainless & Alloy Products Inc)