Competitive Bid Absolute Rate definition

Competitive Bid Absolute Rate has the meaning set forth in Section 2.03(d).
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Competitive Bid Absolute Rate has the meaning set forth in Section 2.03(d)(ii)(D).
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Competitive Bid Absolute Rate shall have the meaning set forth in subpart (d) of Section 2.1C hereof.
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Examples of Competitive Bid Absolute Rate in a sentence

  • The unpaid principal amount of each Competitive Bid Absolute Rate Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the Competitive Bid Absolute Rate quoted by the Lender making such Loan.

  • Whenever any payment of principal of, or interest on, Base Rate Loans or Competitive Bid Absolute Rate Loans or of fees shall be due on a day that is not a Business Day, the date for payment thereof shall be extended to the next succeeding Business Day.

  • The Administrative Agent shall promptly (and in any event within one (1) Business Day after such offers are accepted except with respect to Competitive Bid Absolute Rate Borrowings which shall be on the same day as such offers are accepted) notify the Borrower and each such Bank in writing of any such allocation of Competitive Bid Loans.

  • Each Competitive Bid Rate Loan subject to a Competitive Bid Absolute Rate shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a fixed rate per annum equal to the Competitive Bid Absolute Rate quoted by the Bank or Banks making such Loan in accordance with this Section.

  • The "TYPE" of a Loan refers (i) in the case of Committed Loans, to whether such Loan is a Base Rate Loan or a Eurodollar Loan and (ii) in the case of Competitive Bid Loan, to whether such Loan is a Competitive Bid Absolute Rate Loan or a Competitive Bid LIBOR Loan.

  • Each Competitive Bid Absolute Rate Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the Competitive Bid Absolute Rate quoted by the Bank making such Loan in accordance with Section 2.03.

  • The determination of whether a Participant has incurred a "Hardship" shall be made on the basis of all relevant facts and circumstances.

  • Each Competitive Bid Absolute Rate Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the Competitive Bid Absolute Rate quoted by the Lender making such Loan in accordance with Section 2.03.

  • The Administrative Agent shall promptly notify each Bank whose Competitive Bid Rate Quote or any portion thereof was accepted by the Borrower and shall specify to such Bank the amount of any Competitive Bid Rate Loan or its portion of any Competitive Bid Rate Loan, as applicable, to be made available by such Bank in accordance with Section 2.13.8 hereof, and the Competitive Bid Rate Margin or Competitive Bid Absolute Rate applicable thereto.

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More Definitions of Competitive Bid Absolute Rate

Competitive Bid Absolute Rate has the meaning set forth in Section 2.03(d). “Competitive Bid Absolute Rate Loan” means a loan made or to be made by a Bank pursuant to an Absolute Rate Auction. “Competitive Bid Lending Office” means, as to each Bank, its Domestic Lending Office or such other office, branch or affiliate of such Bank as it may hereafter designate as its Competitive Bid Lending Office by notice to the Company and the Administrative Agent; provided that any Bank may from time to time by notice to the Company and the Administrative Agent designate separate Competitive Bid Lending Offices for its Competitive Bid LIBOR Loans, on the one hand, and its Competitive Bid Absolute Rate Loans, on the other hand, in which case all references herein to the Competitive Bid Lending Office of such Bank shall be deemed to refer to either or both of such offices, as the context may require. “Competitive Bid LIBOR Loan” means a loan made or to be made by a Bank pursuant to a LIBOR Auction (including such a loan bearing interest at the Base Rate pursuant to Section 8.01(a)). 2
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Competitive Bid Absolute Rate has the meaning set forth in Section 2.03(d). “Competitive Bid Absolute Rate Loan” means a loan made or to be made by a Bank pursuant to an Absolute Rate Auction. “Competitive Bid Lending Office” means, as to each Bank, its Domestic Lending Office or such other office, branch or affiliate of such Bank as it may hereafter designate as its Competitive Bid Lending Office by notice to the Company and the Administrative Agent; provided that any Bank may from time to time by notice to the Company and the Administrative Agent designate separate Competitive Bid Lending Offices for its Competitive Bid LIBOR Loans, on the one hand, and its Competitive Bid Absolute Rate Loans, on the other hand, in which case all references herein to the Competitive Bid Lending Office of such 2
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Competitive Bid Absolute Rate. As defined in Section 2.13.4 hereof. Competitive Bid Rate Activation Date. As defined in Section 2.13.2 hereof with respect to any proposed Competitive Bid Rate Loan. Competitive Bid Rate Loan. A Competitive Bid Eurodollar Loan or an Absolute Rate Loan. Competitive Bid Eurodollar Loan. A Loan made by a Bank pursuant to a Eurodollar Auction. Competitive Bid Rate Margin. As defined in Section 2.13.4 hereof. Competitive Bid Rate Maximum Amount. The discretionary option of the Banks to loan, in their sole discretion, the sum, in the aggregate, of up to $425,000,000 to the Borrower pursuant to the terms hereof. Competitive Bid Rate Notes. Those certain promissory notes of the Borrower, each substantially in the form of Exhibit L attached hereto, to the order of each of the Banks evidencing the obligations of the Borrower to repay the Competitive Bid Rate Loans made to it by such Bank hereunder, any other promissory notes issued in connection with Competitive Bid Rate Loans, if any, made or to be made hereunder, and any extension, renewals or amendments to, or any replacements of, any of the foregoing. Competitive Bid Rate Quote. An offer by any Bank to make one or more Competitive Bid Rate Loans in accordance with Section 2.13.2 hereof. Consolidated or consolidated. With reference to any term defined herein, shall mean that term as applied to the accounts of the Borrower and the Consolidated Subsidiaries, consolidated in accordance with GAAP.
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Related to Competitive Bid Absolute Rate

  • Competitive Bid Rate means, with respect to any Competitive Bid, the Margin or the Fixed Rate, as applicable, offered by the Lender making such Competitive Bid.

  • Competitive Bid Loan means a Eurodollar Bid Rate Loan or an Absolute Rate Loan, or both, as the case may be.

  • Competitive Bid Margin means the margin above or below the applicable Eurodollar Base Rate offered for a Eurodollar Bid Rate Loan, expressed as a percentage (rounded to the nearest 1/100 of 1%) to be added or subtracted from such Eurodollar Base Rate.

  • Competitive Bid Advance means an advance by a Lender to the Borrower as part of a Competitive Bid Borrowing resulting from the competitive bidding procedure described in Section 2.03 and refers to a Fixed Rate Advance or a LIBO Rate Advance.

  • Absolute Rate means a fixed rate of interest expressed in multiples of 1/100th of one basis point.

  • Competitive Bid Borrowing means a borrowing consisting of simultaneous Competitive Bid Advances from each of the Lenders whose offer to make one or more Competitive Bid Advances as part of such borrowing has been accepted under the competitive bidding procedure described in Section 2.03.

  • Competitive Bid Request means a request by the Borrower for Competitive Bids in accordance with Section 2.04.

  • Competitive Bid means a bid in terms of a competitive bidding process;

  • Notice of Competitive Bid Borrowing has the meaning specified in Section 2.03(a).

  • Competitive Bid Note means a promissory note of the Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such Lender resulting from a Competitive Bid Advance made by such Lender.

  • Competitive Bid Reduction has the meaning specified in Section 2.01.

  • Competitive Bid Quote Request means the notice, in substantially the form of Exhibit B hereto, to be delivered by the Borrower in accordance with Section 2.03 in requesting Competitive Bid Quotes.

  • Competitive bidding means a transparent process for procurement of equipment, services and works in which bids are invited by the project developer by open advertisement covering the scope and specifications of the equipment, services and works required for the project, and the terms and conditions of the proposed contract as well as the criteria by which bids shall be evaluated, and shall include domestic competitive bidding and international competitive bidding;

  • Competitive Bid Quote means a response submitted by a Lender to the Administrative Agent with respect to a Competitive Bid Quote Request in the form attached as Exhibit C-3.

  • Open Competitive Bidding means a fair and transparent specified procedure defined under these Rules, advertised in the prescribed manner, leading to the award of a contract whereby all interested persons, firms, companies or organizations may bid for the contract and includes both National and International Competitive Biddings;

  • Absolute Rate Loan means a Bid Loan that bears interest at a rate determined with reference to an Absolute Rate.

  • Absolute Rate Auction means a solicitation of Competitive Bid Quotes setting forth Competitive Bid Absolute Rates pursuant to Section 2.03.

  • Money Market Absolute Rate Loan means a loan to be made by a Bank pursuant to an Absolute Rate Auction.

  • Invitation for Competitive Bid Quotes means a written notice to the Lenders from the Administrative Agent with respect to a Competitive Bid Quote Request in the form attached as Exhibit C-2 hereto.

  • Competitive Bid Accept/Reject Letter means a notification made by a Borrower pursuant to Section 2.03(d) in the form of Exhibit A-4.

  • Money Market Absolute Rate has the meaning set forth in Section 2.03(d).

  • Bid Rate Quote means an offer in accordance with Section 2.2.(c) by a Lender to make a Bid Rate Loan with one single specified interest rate.

  • Eurodollar Competitive Loan means any Competitive Loan bearing interest at a rate determined by reference to the LIBO Rate in accordance with the provisions of Article II.

  • Competitive Borrowing means a Borrowing consisting of a Competitive Loan or concurrent Competitive Loans from the Lender or Lenders whose Competitive Bids for such Borrowing have been accepted under the bidding procedure described in Section 2.03.

  • Bid Loan has the meaning specified in Section 2.03(a).

  • Bid Borrowing means a borrowing consisting of simultaneous Bid Loans of the same Type from each of the Lenders whose offer to make one or more Bid Loans as part of such borrowing has been accepted under the auction bidding procedures described in Section 2.03.