Floating Rate Bid definition

Floating Rate Bid means an irrevocable offer to purchase the aggregate outstanding principal amount of the Remarketable Notes at the Dollar Price, but assuming:

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Floating Rate Bid means an irrevocable offer to purchase the aggregate outstanding principal amount of the Securities of this series at the Dollar Price, but assuming: (i) a settlement date that is the Floating Rate Coupon Reset Date; (ii) a maturity date equal to the Floating Period Termination Date; (iii) a stated annual interest rate equal to the Reference Rate (which will be adjusted monthly) plus the Floating Rate Spread; (iv) that interest will be payable each month on the Reference Rate Reset Date; (v) that the Securities of this series are subject to mandatory tender to, and purchase by, the Callholder at the Dollar Price on the Floating Period Termination Date; and (vi) that the Company will redeem the Securities of this series at the Dollar Price on the Floating Period Termination Date, if not previously purchased by the Callholder.

Floating Rate Bid means an irrevocable offer to purchase the aggregate outstanding principal amount of the Notes at the Dollar Price, but assuming:

Examples of Floating Rate Bid in a sentence

• Each prepayment made pursuant to this Section 2.11(b) shall be made together with any interest accrued to the date of such prepayment on the principal amounts prepaid and, in the case of any prepayment of a LIBO Rate Advance or a Floating Rate Bid Advance on a date other than the last day of an Interest Period or at its maturity, any additional amounts which such Borrower shall be obligated to reimburse to the Lenders in respect thereof pursuant to Section 9.04(b).

• All computations of interest in respect of Competitive Bid Advances shall be made by the Administrative Agent on the basis of a year of 360 days in the case of Floating Rate Bid Advances and on the basis of a year of 365 or 366 days in the case of Fixed Rate Bid Advances, as specified in the applicable Notice of Competitive Bid Notice.

• All computations of interest in respect of Competitive Bid Advances shall be made by the Administrative Agent on the basis of a year of 360 days in the case of Floating Rate Bid Advances and on the basis of a year of 365 or 366 days in the case of Fixed Rate Bid Advances, as specified in the applicable Notice of Competitive Bid Borrowing.

• The Administrative Agent will notify Mondelēz International, pursuant to Section 2.08(c), of any change to the reference rate upon which the interest rate on LIBO Rate Advances and Floating Rate Bid Advances is based.

• Each prepayment made pursuant to this Section 2.11(b) shall be made together with any interest accrued to the date of such prepayment on the principal amounts prepaid and, in the case of any prepayment of a LIBO RateTerm SOFR Advance or a Floating Rate Bid Advance on a date other than the last day of an Interest Period or at its maturity, any additional amounts that such Borrower shall be obligated to reimburse to the Lenders in respect thereof pursuant to Section 9.04(b).

• Each prepayment made pursuant to this Section 2.11(b) shall be made together with any interest accrued to the date of such prepayment on the principal amounts prepaid and, in the case of any prepayment of a LIBO Rate Advance or a Floating Rate Bid Advance on a date other than the last day of an Interest Period or at its maturity, any additional amounts that such Borrower shall be obligated to reimburse to the Lenders in respect thereof pursuant to Section 9.04(b).

• All computations of interest in respect of Competitive Bid Advances shall be made by the Administrative Agent on the basis of a year of 360 days in the case of Floating Rate Bid Advances and on the basis of a year of 365 or 366 days in the case of Fixed Rate Bid Advances.

• The interest rate on LIBO Rate Advances and Floating Rate Bid Advances is determined by reference to the LIBO Rate, which is derived from the London interbank offered rate.

• As a result, it is possible that commencing in 2022, the London interbank offered rate may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on LIBO Rate Advances and Floating Rate Bid Advances.

More Definitions of Floating Rate Bid

Floating Rate Bid has the meaning set forth in Section 3.2(b)(ii).

Floating Rate Bid means an irrevocable offer to purchase the aggregate outstanding principal amount of the Securities of this series at the Dollar Price, but assuming: (i) a settlement date that is the Floating Rate Coupon Reset Date; (ii) a maturity date equal to the Floating Period Termination Date; (iii) a stated annual interest rate equal to the Reference Rate plus the Floating Rate Spread; (iv) that the Securities of this series are subject to mandatory tender to, and purchase by, the Callholder at the Dollar Price on the Floating Period Termination Date; and (v) that the Company will redeem the Securities of this series at the Dollar Price on the Floating Period Termination Date, if not previously purchased by the Callholder.

Floating Rate Bid means an irrevocable offer to purchase the aggregate outstanding principal amount of the Securities of this series at the Dollar Price, but assuming: (i) a settlement date that is the Floating Rate Coupon Reset Date; (ii) a maturity date equal to the Floating Period Termination Date; (iii) a stated annual interest rate equal to the Reference Rate plus the Floating Rate Spread; (iv) that the Securities of this series are callable by the Callholder at the Dollar Price on the Floating Period Termination Date; and (v) that the Company will redeem the Securities of this series at the Dollar Price on the Floating Period Termination Date, if not previously purchased by the Callholder.