Interest Option definition
Interest Option has the meaning given such term in Section 2.5(c).
Interest Option means the LIBOR Rate or the Alternate Base Rate.
Interest Option means LIBOR or the Reference Rate.
Examples of Interest Option in a sentence
Each Lender is entitled to fund all or any portion of its Commitment in any manner it deems appropriate, consistent with the provisions of Section 2.04, but for the purposes of this Credit Agreement such Lender will, regardless of such Lender’s actual means of funding, be deemed to have funded its Commitment in accordance with the Interest Option selected from time to time by the Borrower Parties for such Borrowing period.
More Definitions of Interest Option
Interest Option means SOFR or the Reference Rate.
Interest Option means any of them.
Interest Option means each of the Eurocurrency Rate and the Base Rate.
Interest Option means each of LIBOR and the Prime Rate.
Interest Option means Daily Simple SOFR, Term SOFR, the Reference Rate, the applicable Alternative Currency Term Rate or the applicable Alternative Currency Daily Rate.
Interest Option means, at the Borrowers’ option, each of the Term SOFR Rate and the Alternate Base Rate.
Interest Option means either of them. Interest Payment Dates shall mean (a) the first (1st) day of each calendar month and the Maturity Date, for Base Rate Borrowings, (b) the last day of each Interest Period and, if the Interest Period is longer than three (3) months, at the end of each three (3) months, and the Maturity Date, for LIBOR Borrowings, and (c) the last day of the Interest Period for each Competitive Bid Loan. To the extent that any retroactive increase in the Applicable Margin shall occur, the Interest Payment Date for the additional amounts due shall be the next Interest Payment Date following notice from the Agent to the Borrower with a calculation of such additional amount. To the extent that any retroactive decrease in the Applicable Margin shall occur, the Borrower shall receive a credit for the amount of the reduced interest on the next Interest Payment Date following notice from the Agent to the Borrower with a calculation of such credit. Interest Period shall mean (a) for each LIBOR Borrowing, a period commencing on the date such LIBOR Borrowing was made and ending on, subject to availability, one (1), three (3) or six (6) months thereafter and (b) for each Competitive Bid Loan, a period commencing on the date such Competitive Bid Loan was made and ending no less than seven (7) days and no more than ninety (90) days thereafter; provided, (v) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day, unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; (w) any Interest Period which begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the appropriate calendar month; (x) no Interest Period shall ever extend beyond the Maturity Date; and (y) Interest Periods shall be selected by Borrower in such a manner that the Interest Period with respect to any portion of the Loans which shall become due shall not extend beyond such due date.