Competitive Bid Rate Loan definition

Competitive Bid Rate Loan means a Loan to be made by a Lender pursuant to a Rate Auction.
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Competitive Bid Rate Loan means a Loan to be made by a Bank pursuant to a Rate Auction.
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Competitive Bid Rate Loan means any Loan bearing interest at the rates provided in section 1.7(b).
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Examples of Competitive Bid Rate Loan in a sentence

  • Each Competitive Bid 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 Rate quoted by the Lender making such Loan in accordance with Section 2.03.

  • Loan means any loan made by the Banks to the Borrower pursuant to this Loan Agreement and shall refer to a CD Rate Loan, a LIBO Rate Loan, a Competitive Bid Rate Loan or an Alternate Base Rate Loan, each of which shall be a "Type" of Loan.

  • The Borrower shall pay interest on the unpaid principal amount of each Competitive Bid Rate Loan from the date of such Loan, payable on each Interest Payment Date for such Loan interest rate per annum, calculated on a 360-Day Basis, equal the Absolute Interest Rate applicable to such Loan.

  • Only one Competitive Bid Rate Loan may be outstanding at any time.

  • Each Competitive Bid Rate Loan shall be in a minimum amount of $5,000,000 and increments of $1,000,000 and shall be subject to the limitation of paragraph (b) hereof.

  • Each Competitive Bid Rate Loan shall be in a minimum amount of $5,000,000 and increments of $1,000,000.

  • Interest Payment Date means (a) with respect to any Alternate Base Rate Loan, CD Rate Loan or LIBO Rate Loan, the last day of each applicable Interest Period; (b) with respect to any Competitive Bid Rate Loan, (i) each March 31, June 30, September 30 and December 31 and (ii) the last day of each applicable Interest Period; and (c) the Maturity Date.

Related to Competitive Bid Rate Loan

  • Competitive Bid Loan means a Competitive Bid LIBOR Loan or a Competitive Bid Absolute Rate Loan.

  • Competitive Bid Advance means an advance by a Lender to any 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.

  • Bid Rate Loan means a loan made by a Lender under Section 2.2.

  • 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 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 Request means a request by the Borrower for Competitive Bids in accordance with the provisions of Section 2.2(b).

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

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

  • Competitive Bid means an offer by a Lender to make a Competitive Loan in accordance with Section 2.04.

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

  • Competitive Bid Margin has the meaning set forth in Section 2.03(d).

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

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

  • 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 by the Borrower under the bidding procedure described in Section 2.03.

  • 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;

  • 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 Bid Quote Request means a Competitive Bid Quote Request substantially in the form of Exhibit C hereto completed and delivered by the Borrower to the Administrative Agent in accordance with Section 2.3.2.

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

  • Bid Loan Lender means, in respect of any Bid Loan, the Lender making such Bid Loan to the Company.

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

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • Competitive Loan means a Loan made pursuant to Section 2.04.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an -------------- Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.