ABR Tranche definition

ABR Tranche means a Tranche as to which Discount is calculated at the sum of the Alternate Base Rate plus the Applicable Margin.
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ABR Tranche means, during any Interest Period, and as the context shall indicate, (i) any portion of the Class A Invested Amount that, in accordance with the Class A Certificate Purchase Agreement, accrues interest based on the Alternate Base Rate and (ii) if the Holder of the Class B Certificates shall have given the notice specified in Section 3.2 of the Class B Certificate Purchase Agreement (and for so long as such notice continues in effect), the Class B Invested Amount.
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ABR Tranche means any portion of the principal amount outstanding under the Loan which bears interest at a rate computed by reference to the Alternate Base Rate.
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Examples of ABR Tranche in a sentence

  • Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing: (i) no outstanding Tranche may be converted to or continued as a Eurodollar Tranche (and any Interest Election Request that requests the conversion of any Tranche to, or continuation of any Tranche as, a Eurodollar Tranche shall be ineffective) and (ii) unless repaid, each Eurodollar Tranche shall be converted to an ABR Tranche at the end of the Interest Period applicable thereto.

  • The portion of the Loans comprising each ABR Tranche shall bear interest at the Alternate Base Rate plus the Applicable Margin, but in no event to exceed the Highest Lawful Rate.

  • If the Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Tranche prior to the end of the Interest Period applicable thereto, then, unless such Tranche is repaid as provided herein, at the end of such Interest Period such Tranche shall be converted to an ABR Tranche.

  • At the time that each ABR Tranche is made, such Tranche shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000.

  • At the time that each ABR Tranche is made, such Tranche shall be in an aggregate amount that is an integral multiple of $250,000 and not less than $1,000,000.

  • In the event any Tranche is reduced to zero on a date other than the last day of the Interest Period applicable to such Tranche, then, notwithstanding anything herein or in the Supplement to the contrary, such Tranche shall be deemed to be in existence until the last day of such Interest Period for purposes of calculating the number of outstanding Tranches and determining whether an additional Eurodollar Tranche or ABR Tranche is available.

  • The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Tranche, not later than 12:00 noon, Houston time, three Business Days before the date of prepayment, or (ii) in the case of prepayment of an ABR Tranche, not later than 12:00 noon, Houston time, one Business Day before the date of prepayment.

  • The Borrower shall notify the Administrative Agent by telephone, electronic communication and/or fax (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Tranche, not later than 12:00 noon, New York City time, three Business Days before the date of prepayment, or (ii) in the case of prepayment of an ABR Tranche, not later than 12:00 noon, New York City time, one Business Day before the date of prepayment.

  • The obligation of the affected Purchaser to make or maintain its Purchase as a Eurodollar Tranche during any such period shall be terminated at the earlier of the termination of the Interest Period then in effect for the Eurodollar Tranche or when required by law, and Transferor shall, no later than the time specified for the termination, convert the Purchase into an ABR Tranche.

  • Any payment made by a Tranche A Revolving Lender pursuant to this clause to reimburse the Issuing Bank for any LC Disbursement (other than the funding of ABR Tranche A Revolving Loans as contemplated above) shall not constitute a Revolving Loan and shall not relieve the Borrower of its obligation to reimburse such LC Disbursement.


More Definitions of ABR Tranche

ABR Tranche means, at any time, any portion (which may be 100%) of the Aggregate Invested Amount that is so designated by Transferor in accordance with the Certificate Purchase Agreement.
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ABR Tranche shall have the meaning provided in Section 2.03(a).
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ABR Tranche means, at any time, the portion of the Series 1996-3 Invested Amount that is designated by Transferor in accordance with the Certificate Purchase Agreement to accrue interest based on the Alternate Base Rate.
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Related to ABR Tranche

  • LIBOR Tranche means the collective reference to LIBOR Rate Loans whose Interest Periods begin and end on the same day.

  • Eurodollar Tranche the collective reference to Eurodollar Loans the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

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

  • Eurocurrency Tranche the collective reference to Eurocurrency Loans under a particular Facility the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • LIBO Rate Advances has the meaning specified in Section 2.03(a)(i).

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

  • 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.

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

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

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Existing Tranche has the meaning specified in Section 2.19(a).

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(i).

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(ii).

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Revolving Facility Loans shall include the Other Revolving Loans.

  • ABR Loans Loans the rate of interest applicable to which is based upon the ABR.

  • Tranche the collective reference to Eurodollar Loans the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).