Federal Funds Rate Loan definition

Federal Funds Rate Loan means a Loan that bears interest based on the Federal Funds Rate.
Federal Funds Rate Loan. A Revolving Loan or Term Loan that bears interest based on the Federal Funds Effective Rate.
Federal Funds Rate Loan means a Loan the rate of interest ----------------------- applicable to which is based upon the Federal Funds Rate.

Examples of Federal Funds Rate Loan in a sentence

  • For the avoidance of doubt, the contingent obligation of a Bank to pay funds to BofA in respect of a Swing Loan that may convert to a Federal Funds Rate Loan as provided in Section 2.16 shall not be considered use of such Borrower's Commitment.

  • The Borrowers may elect from time to time, subject to Section 2.11, to convert any Outstanding Federal Funds Rate Loan or Alternate Base Rate Loan to a LIBOR Loan, provided that (a) the applicable Borrower shall give the Administrative Agent at least three (3) Business Days’ prior written notice of such election; and (b) no Federal Funds Rate Loan or Alternate Base Rate Loan may be converted into a LIBOR Loan when any Default has occurred and is continuing.

  • As to any Loan, its nature as a Federal Funds Rate Loan, Alternate Base Rate Loan or LIBOR Loan, as the case may be.

  • Interest on each Federal Funds Rate Loan shall be payable on the last day of each calendar quarter commencing on the first such day after the Effective Date and on the Termination Date.

  • Each such Loan Request must be received by the Administrative Agent no later than (a) 12:00 noon on the proposed Drawdown Date of any Federal Funds Rate Loan or Alternate Base Rate Loan and (b) three (3) Business Days prior to the proposed Drawdown Date of any LIBOR Loan.


More Definitions of Federal Funds Rate Loan

Federal Funds Rate Loan. A Revolving Credit Loan (other than an Alternate Base Rate Loan) which bears interest at the Federal Funds Rate. “Fee Letter.” That certain fee letter dated September 17, 2021 among the Company, Bank of America, and BofA Securities, Inc. AMERICAS/2023306744.4 “Foreign Bank.” Any Bank that is organized under the laws of a jurisdiction other than the United States, any State thereof or the District of Columbia.
Federal Funds Rate Loan means a Swing Line Loan which bears interest at the Federal Funds Rate.
Federal Funds Rate Loan has the meaning given in Section 2.1.1.2(a) of the Credit Agreement.
Federal Funds Rate Loan means a portion of an Advance bearing interest by reference to the Federal Funds Rate.
Federal Funds Rate Loan is hereby inserted in lieu thereof.
Federal Funds Rate Loan means a Loan bearing interest based on the NY Effective Rate.
Federal Funds Rate Loan. Funding Arrangements," "Level," "LIBOR Loan," "LIBOR Period," "LIBOR Rate," and "Notice of Conversion/Continuation."