Reference Rate Borrowings Clause Samples

The Reference Rate Borrowings clause defines the terms under which a borrower may take out loans that are tied to a specified reference interest rate, such as LIBOR or SOFR. This clause typically outlines how the applicable rate is determined, how interest accrues, and any adjustments that may be made if the reference rate changes or becomes unavailable. By establishing clear rules for calculating interest on these borrowings, the clause ensures predictability for both lender and borrower and addresses potential issues arising from fluctuations or discontinuation of standard reference rates.
Reference Rate Borrowings. All Loans shall at all times ------------------------- constitute Reference Rate Borrowings unless properly designated or redesignated as LIBOR Borrowings pursuant to Sections 3.3. or 3.
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Reference Rate Borrowings. All Loans shall at all times constitute Reference Rate Borrowings unless properly designated or redesignated as Eurodollar Borrowings pursuant to Sections 3.3 or 3.
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Reference Rate Borrowings. All Loans shall at all times ------------------------- constitute Reference Rate Borrowings unless properly designated or redesignated as ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ pursuant to Sections 3.3 or 3.4. Each request by the Company ------------ --- for a new Reference Rate Borrowing (except for Swing Line Advances) shall be made pursuant to a Request for Borrowing received by the Agent, at the Agent's office, not later than 9:00 a.m. California time, at least one Banking Day prior to the date the Reference Rate Borrowing is to be funded to the Company. The Agent will notify each Bank of its receipt of a Request for Borrowing in accordance with Section 3.1(f). --------------
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Reference Rate Borrowings. All Loans shall at all times constitute Reference Rate Borrowings unless properly designated or redesignated as LIBOR Borrowings pursuant to SECTIONS 3.3. OR 3.4 and all Swing Line Advances shall constitute Reference Rate Borrowings. Each request by the Company for a new Reference Rate Borrowing (except for Swing Line Advances) shall be made pursuant to a Request for Borrowing received by the Agent, at the Agent's office, not later than 10:00 a.m. Honolulu, Hawaii time, at least one Banking Day prior to the date the Reference Rate Borrowing is to be funded to the Company. The Agent will notify each Bank of its receipt of a Request for Borrowing in accordance with SECTION 3.1(f).
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Reference Rate Borrowings. 22 3.3 Eurodollar Borrowing ........................................... 23 3.4
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Reference Rate Borrowings. All Loans shall at all times constitute Reference Rate Borrowings unless properly designated or redesignated as LIBOR Borrowings pursuant to SECTIONS 3.3. OR 3.4. Each request by the Company for a new Reference Rate Borrowing shall be made pursuant to a Request for Borrowing, executed by a Designated Responsible Official, received by the Agent, at the Agent's office, not later than 9:00 a.m., California time, at least one (1) Banking Day prior to the date the Reference Rate Borrowing is to be funded to the Company. The Agent will notify each Bank of its receipt of a Request for Borrowing in accordance with SECTION 3.1(f).
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Reference Rate Borrowings. All Loans shall at all times ------------------------- constitute Reference Rate Borrowings unless properly designated or redesignated as IBOR Borrowings pursuant to Sections 3.3. or 3.4. --------------------
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Reference Rate Borrowings. All Loans shall at all times constitute Reference Rate Borrowings unless properly designated or redesignated as Eurodollar Borrowings pursuant to Sections 3.3 or 3.4. Each request by Borrower for a new Reference Rate Borrowing (except for Swing Line Advances) shall be made pursuant to a Request for Borrowing received by Administrative Agent, at Administrative Agent's Lending Office, not later than 11:00 a.m. at least one (1) Business Day prior to the date the Reference Rate Borrowing is to be funded to Borrower. Administrative Agent will notify each Lender of its receipt of a Request for Borrowing in accordance with Section 3.1(f).
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Related to Reference Rate Borrowings

  • Base Rate Advances During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

  • Revolving Borrowings Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrower, in Dollars, from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving Commitment; provided, however, that after giving effect to any Revolving Borrowing, (i) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (ii) the Revolving Exposure of any Lender shall not exceed such Revolving Lender’s Revolving Commitment. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow Revolving Loans, prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein; provided, however, any Revolving Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such Revolving Borrowing.

  • ABR Loans The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus the Applicable Margin, but in no event to exceed the Highest Lawful Rate.

  • Prime Rate Loans During such periods as the Term Loan shall be comprised of Prime Rate Loans, each such Prime Rate Loan shall bear interest at a per annum rate equal to the Prime Rate; and

  • Eurodollar Loans The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin, but in no event to exceed the Highest Lawful Rate.