Examples of Eurodollar Term Loan in a sentence
The Initial Term B Loans comprising each Eurodollar Term Loan Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin for Eurodollar Initial Term B Loans.
Each Lender at its option may make, continue or convert any Eurodollar Term Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall notaffect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.
If no Interest Period is specified with respect to any requested Eurodollar Revolving Borrowing or Eurodollar Term Loan Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
Each partial prepayment of any Revolving Borrowing or Term Loan Borrowing shall be in an amount that is an integral multiple of $1,000,000 and not less than $1,000,000 in the case of an ABR Revolving Borrowing or ABR Term Loan Borrowing, or $3,000,000 in the case of a Eurodollar Revolving Borrowing or Eurodollar Term Loan Borrowing.
Upon the occurrence and during the continuance of any Event of Default, and upon written notice thereof from the Administrative Agent to the Borrower (i) each Eurodollar Term Loan will automatically, on the last day of the then existing Interest Period therefor, convert into a Base Rate Term Loan, and (ii) the obligation of the Lenders to make, continue or convert Loans into Eurodollar Term Loans shall be suspended.