WFBC Base Rate

WFBC Base Rate. Means, for any day, a fluctuating rate equal to the higher of: (a) the Prime Rate in effect on such day, or (b) a rate determined by the Lender to be one and one-half percent (1.50%) above Daily Three Month LIBOR. Notwithstanding any other provisions contained in this Agreement, beginning March 11, 2009, and thereafter, unless otherwise specified by the Borrowers and approved in writing by the Lender in its sole discretion, (i) all Advances shall be Floating Rate Advances, and (ii) the... Borrowers shall not be permitted to (A) request LIBOR Advances, (B) convert all or any part of the principal amount of any outstanding Floating Rate Advance into a LIBOR Advance or (C) cause all or any part of any maturing LIBOR Advance to be renewed as a new LIBOR Advance, in each case until such time, if any, that the Lender approves such requests in writing, as the Lender shall determine in its sole discretion. View More

WFBC Base Rate. Means, for any day, a fluctuating rate equal to a rate determined by the Lender to be the Daily Three Month LIBOR.