Overnight LIBOR Loan definition

Overnight LIBOR Loan means a Loan described in Section 2.1 hereof, that shall be denominated in Dollars and on which the Borrowers shall pay interest at a rate based on the Overnight LIBOR Rate.
Sample 1Sample 2Sample 3
Overnight LIBOR Loan has the meaning specified in the definition of “Interest Period”.
Sample 1Sample 2
Overnight LIBOR Loan means a Swing Line Loan denominated in an Alternative Currency which bears interest at the Overnight LIBOR Rate.
Sample 1Sample 2

Examples of Overnight LIBOR Loan in a sentence

  • Borrowers shall give Agent notice of prepayment of any Base Rate Loan or Overnight LIBOR Loan by not later than 12:00 P.M. on the Business Day such prepayment is to be made.

  • Borrowers shall give Agent notice of prepayment of any Base Rate Loan or Overnight LIBOR Loan by not later than 12:00 P.M. on the Business Day such prepayment is to be made and written notice of the prepayment of any Eurodollar Loan not later than 1:00 P.M. two (2) Business Days before the Business Day on which such prepayment is to be made.

  • The definition of “Eurodollar Rate” in Section 1.01 of the Credit Agreement is amended by inserting the phrase “; provided, f urther, that the Eurodollar Rate applicable to an Overnight LIBOR Loan shall be the same as the Eurodollar Rate applicable to a Eurodollar Rate Loan with an Interest Period of one month” before the period at the end thereof.

  • Each LIBOR Loan, upon the maturity of the applicable Interest Period, at the Borrower’s election, may be continued as an Overnight LIBOR Loan, a Standard LIBOR Loan with a new Interest Period or converted to a Prime Rate Loan, all as described in Section 2.3.3 below.

  • The Term Loan Lenders, at the request of Borrower to Agent, provided that no Event of Default exists hereunder and subject to the applicable notice and other provisions of Section 2.2 hereof, shall convert a Base Rate Loan to an Overnight LIBOR Loan at any time and shall convert an Overnight LIBOR Loan to a Base Rate Loan at any time.

  • Each such Committed Loan Notice must be received by the Administrative Agent not later than 11:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans (other than an Overnight LIBOR Loan) or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans or Overnight LIBOR Loans.

  • The Administrative Agent will promptly notify the Lenders of any termination or reduction of the Overnight LIBOR Loan Sublimit, Swing Line Sublimit or the Aggregate Revolving Commitments under this Section 2.05.

  • If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.05, the Overnight LIBOR Loan Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Overnight LIBOR Loan Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.


More Definitions of Overnight LIBOR Loan

Overnight LIBOR Loan means a Loan that bears interest at a rate based on the Overnight LIBOR Rate. "Overnight LIBOR Loan Sublimit" means an amount equal to the lesser of (a) $50,000,000 and (b) the Aggregate Revolving Commitments. The Overnight LIBOR Loan Sublimit is part of, and not in addition to, the Aggregate Revolving Commitments. "Overnight LIBOR Rate" means, with respect to an Overnight LIBOR Loan, the fluctuating rate equal to (a) the overnight British Bankers Association LIBOR Rate ("BBA LIBOR"), as published by Reuters (or such other commercially available source providing quotations of BBA LIBOR as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time as of any London Banking Day for Dollar deposits or (b) if such rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on any London Banking Day in same day funds in the approximate amount of the Overnight LIBOR Loan being made and would be offered by State Street Bank to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time) as of such London Banking Day prior to the commencement of the Borrowing. "Participant" has the meaning specified in Section 10.06(d). "PBGC" means the Pension Benefit Guaranty Corporation or any successor thereto. "Permitted Liens" means, at any time, Liens in respect of property of the Borrower permitted to exist at such time pursuant to the terms of Section 7.01. "Person" means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. "Plan" means any "pension plan" or "welfare plan" as such terms are defined under ERISA. "Platform" has the meaning specified in Section 6.02. "Preferred Stock" means all equity ownership which has a priority claim over Common Stock in dividend payments and/or upon liquidation of an issuer. "Proposed IPO" has the meaning specified in the definition of "Change of Control". "Public Lender" has the meaning specified in Section 6.02. "Register" has the meaning specified in Section 10.06(c). "Related Parties" means, with respect to any Person, such Person's Affiliates and the partners, directors, officers, employees, agents, trustees and advisors of such Person and of such Person's Affiliates. -17-N75013152.6
Sample 1

Related to Overnight LIBOR Loan

  • Money Market LIBOR Loan means a loan to be made by a Bank pursuant to a LIBOR Auction (including such a loan bearing interest at the Base Rate pursuant to Section 8.01(a)).

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

  • Dollar Loan means a Loan denominated in Dollars.

  • Eurocurrency Interest Period means the Interest Period applicable to a Eurocurrency-based Advance.

  • Eurodollar Loan means a Loan which bears interest at a Eurodollar Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Alternative Currency Daily Rate Loan means a Loan that bears interest at a rate based on the definition of “Alternative Currency Daily Rate.” All Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.

  • 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.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Eurocurrency Base Rate means, with respect to a Eurocurrency Rate Advance for the relevant Interest Period:

  • Eurodollar Business Day means any Business Day on which dealings are also carried on in the London interbank market and banks are open for business in London.

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

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Alternate Currency Loan means any Loan denominated in an Alternate Currency.

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

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

  • Alternative Currency Loan means an Alternative Currency Daily Rate Loan or an Alternative Currency Term Rate Loan, as applicable.

  • Eurocurrency Loan means any Eurocurrency Term Loan or Eurocurrency Revolving Loan.

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Interest Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Payment Date and each successive period beginning on (and including) an Interest Payment Date and ending on (but excluding) the next succeeding Interest Payment Date.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Euro-Dollar Borrowing has the meaning set forth in Section 1.3.