Common use of Eurodollar Rate Clause in Contracts

Eurodollar Rate. For any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the quotient (rounded upwards to the nearest 1/16 of one percent) of (a) the rate at which the Reference Bank's Eurodollar Lending Office is offered Dollar deposits two Eurodollar Business Days prior to the beginning of such Interest Period in whatever interbank Eurodollar market may be selected by the Reference Bank in its sole discretion, acting in good faith, for delivery on the first day of such Interest Period for the number of days comprised therein and in an amount comparable to the amount of the Eurodollar Rate Loan to which such Interest Period applies, divided by (b) a number equal to 1.00 minus the Eurocurrency Reserve Rate. Eurodollar Rate Loans. Loans bearing interest calculated by reference to a Eurodollar Rate. Event of Default. See Section 12.1.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Wellsford Real Properties Inc), Term Loan Agreement (Wellsford Real Properties Inc)

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Eurodollar Rate. For any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the quotient (rounded upwards to the nearest 1/16 of one percent) of (a) the rate at which the Reference Bank's Eurodollar Lending Office is offered Dollar deposits two three (3) Eurodollar Business Days prior to the beginning of such Interest Period in whatever interbank Eurodollar eurodollar market may be selected by the Reference Bank in its sole discretion, acting in good faith, for delivery on the first day of such Interest Period for the number of days comprised therein and in an amount comparable to the amount of the Eurodollar Rate Loan to which such Interest Period applies, divided by (b) a number equal to 1.00 minus the Eurocurrency Reserve Rate. Eurodollar Rate LoansEURODOLLAR RATE LOANS. Loans bearing interest calculated by reference to a Eurodollar Rate. Event of DefaultEVENT OF DEFAULT. See Section 12.1.

Appears in 1 contract

Samples: Revolving Credit Agreement (American Real Estate Investment Corp)

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Eurodollar Rate. For any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the quotient (rounded upwards to the nearest 1/16 of one percent) of (a) the rate at which the Reference Bank's Lenders Eurodollar Lending Office is offered Dollar deposits two Eurodollar Business Days prior to the beginning of such Interest Period in whatever interbank Eurodollar eurodollar market may be selected by the Reference Bank Lender in its sole discretion, acting in good faith, for delivery on the first day of such Interest Period for the number of days comprised therein and in an amount comparable to the amount of the Eurodollar Rate Loan to which such Interest Period applies, divided by (b) a number equal to 1.00 minus the Eurocurrency Reserve Rate. Eurodollar Rate Loans. Loans bearing interest calculated by reference to a Eurodollar Rate. Event of Default. See Section 12.1.

Appears in 1 contract

Samples: Revolving Credit Agreement (Wellsford Real Properties Inc)

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