BSBY Rate Option definition

BSBY Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(ii) [Revolving Credit BSBY Rate Option].
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BSBY Rate Option. A rate per annum (computed on the basis of a year of 360 days and actual days elapsed) equal to the BSBY Rate as determined for each applicable Yield Period; or
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BSBY Rate Option means the option of the Seller to have Capital accrue Yield at the rate and under the terms specified in Section 2.05(a)(ii).
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Examples of BSBY Rate Option in a sentence

  • In the case of the renewal of a BSBY Rate Option at the end of an Interest Period, the first day of the new Interest Period shall be the last day of the preceding Interest Period, without duplication in payment of interest for such day.

  • At any time when the Borrower shall select, convert to or renew a BSBY Rate Option, the Borrower shall notify the Administrative Agent thereof at least three (3) Business Days prior to the effective date of such BSBY Rate Option by delivering a Loan Request.

  • If the Borrower provides any Loan Request related to a Loan at the BSBY Rate Option but fails to identify an Interest Period therefor, such Loan Request shall be deemed to request an Interest Period of one (1) month.

  • If the Seller fails to select a new Yield Period to apply to any Tranche of Investments under the BSBY Rate Option at the expiration of an existing Yield Period applicable to such Tranche in accordance with the provisions of Section 2.04, the Seller shall be deemed to have converted such Tranche to the Daily BSBY Floating Rate commencing upon the last day of the existing Yield Period.

  • If the Borrower fails to select a new Interest Period to apply to any Borrowing Tranche of Loans under the BSBY Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with the provisions of Section 3.02, the Borrower shall be deemed to have converted such Borrowing Tranche to the Daily BSBY Floating Rate 755287315 21689858 commencing upon the last day of the existing Interest Period.

  • If any Purchaser notifies the Administrative Agent of a determination under Section 4.04(b), the Seller shall, subject to the Seller’s obligation to pay any Breakage Fees, as to any Capital of the Purchaser to which a BSBY Rate Option or Daily BSBY Floating Rate Option applies, on the date specified in such notice either convert such Capital to the Base Rate Option otherwise available with respect to such Capital or reduce such Capital in accordance with Section 2.02(d).

  • If any Lender notifies the Administrative Agent of a determination under Section 3.04(a)(ii) or 3.04(b), the Borrower shall, subject to the Borrower’s obligation to pay any Breakage Fees, as to any Loan of the Lender to which a BSBY Rate Option or Daily BSBY Floating Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 2.02(d).

  • At any time when the Seller shall select, convert to or renew a BSBY Rate Option, the Seller shall notify the Administrator thereof at least three (3) Business Days prior to the effective date of such BSBY Rate Option by delivering an Investment Notice.

  • If the Borrowing Agent provides any Loan Request related to a Loan at the Eurocurrency Rate Option, BSBY Rate Option, or on and after the Term RFR Transition Date with respect to any Alternative Currency, the Term RFR Option for such Alternative Currency, but fails to identify an Interest Period therefor, such Loan Request shall be deemed to request an Interest Period of one (1) month.

  • If the Borrower fails to select a new Interest Period to apply to any Borrowing Tranche of Loans under the BSBY Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with the provisions of Section 3.02, the Borrower shall be deemed to have converted such Borrowing Tranche to the Daily BSBY Floating Rate commencing upon the last day of the existing Interest Period.


More Definitions of BSBY Rate Option

BSBY Rate Option means the option of the Seller to have Capital accrue Yield at the rate and under the terms specified in Section 2.05(a)(ii). “BSBY Reserve Percentage” shall mean, as of any day, the maximum effective percentage in effect on such day, if any, as prescribed by theFederal Reserve Board for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) with respect to BSBY Screen Rate funding.
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Related to BSBY Rate Option

  • Base Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(i) [Revolving Credit Base Rate Option].

  • LIBOR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(ii) [Revolving Credit LIBOR Rate Option].

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • Rate Option means the Eurodollar Rate or the Floating Rate.

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • LIBOR Option has the meaning specified therefor in Section 2.12(a) of the Agreement.

  • Base Rate Term Loan means any portion of the Term Loan during any period in which it bears interest based on the Base Rate.

  • Daily Rate Period means a period commencing on one Business Day and extending to, but not including, the next succeeding Business Day, during which Multi-Modal Bonds bear interest at the Daily Rate.

  • LIBOR Index Rate means, for any Interest Period, the rate per annum (rounded upwards, if necessary, to the next higher one-sixteenth of one percent) for deposits in U.S. Dollars for delivery on the first day of and for a period equal to such Interest Period in an amount equal or comparable to the principal amount of the Eurodollar Loan scheduled to be made by each Lender as part of such Borrowing, which appears on the Applicable Telerate Page as of 11:00 a.m. (London, England time) on the day two (2) Business Days before the commencement of such Interest Period.

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

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

  • Eurodollar Rate Committed Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of “Eurodollar Rate.”

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

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

  • Eurocurrency Rate Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars or in an Agreed Currency which bears interest as provided in Section 2.07(b) or a Local Currency Advance which bears interest as provided in Section 2.07(b) and the Local Currency Addendum.

  • Weekly Rate Period means any period of time during which a Group of 2020 Series D Variable Rate Bonds bears interest at the Weekly Rate.

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

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

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

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • Base Rate Portion of any Loan or Loans shall mean at any time the portion, including the whole, of such Loan or Loans bearing interest at such time (i) under the Base Rate Option or (ii) in accordance with Section 2.09(c)(ii) hereof. If no Loan or Loans is specified, "Base Rate Portion" shall refer to the Base Rate Portion of all Loans outstanding at such time.

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

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on April 1, 2022 and ending on and including March 31, 2027 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including March 31 in the fifth year thereafter.

  • LIBOR Term Loan means any Term Loan bearing interest at a rate determined by reference to the LIBOR Rate.

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