Competitive Interest Period definition

Competitive Interest Period as to any Competitive Bid Loan, the period commencing on the date of such Competitive Bid Loan and ending on the date requested in the Competitive Bid Request with respect thereto, which shall not be earlier than 3 days after the date of such Competitive Bid Loan or later than 180 days after the date of such Competitive Bid Loan; provided that if any Competitive Interest Period would end on a day other than a Domestic Business Day, such Competitive Interest Period shall be extended to the next succeeding Domestic Business Day, unless such next succeeding Domestic Business Day would be a date on or after the Commitment Termination Date, in which case such Competitive Interest Period shall end on the next preceding Domestic Business Day. Interest shall accrue from and including the first day of a Competitive Interest Period to but excluding the last day of such Competitive Interest Period.
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Competitive Interest Period with respect to any Competitive Bid Loan, the period commencing on the Borrowing Date with respect to such Competitive Bid Loan and ending on the date requested in the Competitive Bid Request with respect to such Competitive Bid Loan, which date shall be neither earlier than seven days, nor later than 90 days, after the Borrowing Date with respect to such Competitive Bid Loan, provided, however, that in no event shall any Competitive Interest Period end after the Revolving Credit Maturity Date. Interest shall accrue from and including the first day of a Competitive Interest Period to, but excluding, the last day of such Competitive Interest Period.
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Competitive Interest Period with respect to any Competitive Bid Loan, the period commencing on the Borrowing Date with respect to such Competitive Bid Loan and ending on the date requested in the Competitive Bid Request with respect to such Competitive Bid Loan, which ending date shall not be earlier than seven days after the Borrowing Date with respect to such Competitive Bid Loan nor later than 180 days after the Borrowing Date with respect to such Competitive Bid Loan; provided, however, that if any Competitive Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day, unless such next succeeding Business Day would be a date on or after the Maturity Date, in which case such Competitive Interest Period shall end on the next preceding Business Day, and provided further, that no Competitive Interest Period shall end after the Maturity Date. Interest shall accrue from and including the first day of a Competitive Interest Period to, but excluding, the last day of such Competitive Interest Period.
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Examples of Competitive Interest Period in a sentence

  • Each Competitive Bid Request shall specify (x) the proposed Borrowing Date for the Competitive Bid Loans then being requested (which shall be a Domestic Business Day) and the aggregate principal amount thereof and (y) the Competitive Interest Period or Interest Periods (which shall not exceed ten different Interest Periods in a single Competitive Bid Request), with respect thereto (which may not end after the Domestic Business Day immediately preceding the Commitment Termination Date).

  • Each Competitive Bid Loan Bid Rate applicable thereto for the applicable Competitive Interest Period.

  • Each Competitive Bid Request shall specify (x) the proposed Borrowing Date for the Competitive Bid Loans then being requested (which shall be a Domestic Business Day) and the aggregate principal amount thereof and (y) the Competitive Interest Period or Competitive Interest Periods (which shall not exceed ten different Interest Periods in a single Competitive Bid Request), with respect thereto (which may not end after the Domestic Business Day immediately preceding the Commitment Termination Date).

  • The outstanding principal balance of each Competitive Bid Loan shall be due and payable on the earlier to occur of the last day of the Competitive Interest Period applicable thereto and the Business Day immediately preceding the Revolving Credit Maturity Date.

  • The Lender is hereby authorized to record on the schedule annexed hereto, and any continuation sheets which the Lender may attach thereto (a) the date and amount of each Competitive Bid Loan made by the Lender, (b) the Competitive Interest Period and the Competitive Bid Rate applicable to each such Competitive Bid Loan, and (c) the date and amount of each payment or prepayment of principal of each Competitive Bid Loan.

  • CVS CORPORATION By: Name: Title: SCHEDULE TO COMPETITIVE BID NOTE Date Amount of Competitive Bid Loan Competitive Interest Period Competitive Bid Rate Amount of Principal Payment or Prepayment Notation Made by EXHIBIT B-3 FORM OF SWING LINE NOTE $50,000,000.

  • Bid Request, the Borrower gave notice of its request to borrow Competitive Bid Loans in the aggregate sum of $____________ on ______, which borrowing would consist of the following: Competitive Interest Period Amount --------------- --------- _____ days $___________ _____ days $___________ _____ days $___________ The Lenders are hereby invited to bid, pursuant to the terms and conditions of the Agreement, on such requested Competitive Bid Loans.

  • In response to the Competitive Bid Request, dated , 20 the undersigned Lender hereby offers to make Competitive Bid Loans in the aggregate sum of $ on , 20 which borrowing shall consist of the following Competitive Interest Periods and the amounts and Competitive Bid Rates corresponding thereto: Competitive Interest Period Amount Competitive Bid Rate days $ .

  • Interest shall accrue from and including the first day of a Competitive Interest Period to but excluding the last day of such Competitive Interest Period.

  • Each Competitive Bid Re- quest shall specify (x) the proposed Borrowing Date (which shall be a Business Day) for the Competitive Bid Loans being requested and the aggregate principal amount thereof and (y) the Competitive Interest Period or Interest Periods (which shall not exceed four different In- terest Periods in a single Competitive Bid Request), with respect thereto.


More Definitions of Competitive Interest Period

Competitive Interest Period for each Competitive Loan, the period (a) commencing on the date such Competitive Loan is made and (b) ending on the date requested by the Borrower in the Competitive Bid Request for such Competitive Loan, which period shall be not less than seven days or more than 180 days; provided that (i) Competitive Interest Periods commencing on the same date for Competitive Loans comprising part of the same borrowing shall not have more than three different durations; and (ii) whenever the last day of any Competitive Interest Period would otherwise occur on a day other than a Business Day, the last day of such Competitive Interest Period shall be extended to occur on the next succeeding Business Day, provided further that if such extension would cause the last day of such Competitive Interest Period to occur on or after the Termination Date of any Lender making a Competitive Loan to which such Competitive Interest Period relates, such Competitive Interest Period for such Competitive Loan shall end on the next preceding Business Day.
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Competitive Interest Period as to any Competitive Bid Loan, the period commencing on the date of such Competitive Bid Loan and ending on the date requested in the Competitive Bid Request with respect to such Competitive Bid Loan, which date shall not be earlier than 7 days after the date of such Competitive Bid Loan or later than 180 days after the date of such Competitive Bid Loan; provided, however, that if any Competitive Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day, unless such next succeeding
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Competitive Interest Period as to any Competitive Bid Loan, the period commencing on the Borrowing Date with respect to such Competitive Bid Loan and ending on the date requested in the Competitive Bid Request with respect to such Competitive Bid Loan, which ending date (i) shall be one, two, three or six months after such Borrowing Date, in the case of Competitive Bid Index Rate Loans, and (ii) shall not be earlier than seven days after such Borrowing Date or later than 180 after such Borrowing Date, in all other cases; PROVIDED, HOWEVER, that (A) if any Competitive Interest Period would otherwise end on a day which is not a Business Day, such Competitive Interest Period shall be extended to the next succeeding Business Day, (1) unless such next succeeding Business Day would be a date on or after the Maturity Date or such earlier date upon which the Revolving Credit Commitments shall have been voluntarily terminated by the Borrower in accordance with Section 2.7, in which event such Competitive Interest Period shall end on the next preceding Business Day, and (2) in the case of Competitive Bid Index Rate Loans, the result of such extension would be to carry such Competitive Interest Period into another calendar month, in which event such Competitive Interest Period shall end on the next preceding Business Day, and (B) no Competitive Interest Period shall end after the Maturity Date or such earlier date upon which the Revolving Credit Commitments shall have been voluntarily terminated by the Borrower in accordance with Section 2.7. Interest shall accrue from and including the first day of a Competitive Interest Period to, but excluding, the last day of such Competitive Interest Period.
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Related to Competitive 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.

  • Reset Interest Period means each period from (and including) any Reset Date and ending on (but excluding) the next Reset Date.

  • 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.

  • 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.

  • Eurodollar Period means, as to each Eurodollar Rate Advance comprising part of the same Borrowing, the period commencing on the date specified by Borrower pursuant to Section 2.1(b) and ending 1, 2, 3 or 6 months (or, if available to all Lenders, 9 or 12 months) thereafter, as specified by Borrower in the applicable Request for Borrowing or Request for Continuation/Conversion provided that:

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • Eurodollar Interest Period means, for any Eurodollar-based Advance, an Interest Period of one, two or three months (or any shorter or longer periods agreed to in advance by the Borrower, Agent and the Lenders) as selected by Borrower, for such Eurodollar-based Advance pursuant to Section 2.3 or 4.4 hereof, as the case may be.

  • Floating Rate Interest Period means each period commencing on the date of the Closing and, thereafter, commencing on a Floating Rate Interest Payment Date and continuing up to, but not including, the next Floating Rate Interest Payment Date.

  • Initial Interest Period shall have the meaning set forth in Section 2.3.1.

  • Eurocurrency Interest Period means with respect to any Eurocurrency Rate Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, to the extent agreed to by the Agent and each Lender making such Eurocurrency Rate Borrowing, twelve months or any shorter period) thereafter, as a Borrower may elect; provided that (a) if any Eurocurrency Interest Period would end on a day other than a Business Day, such Eurocurrency Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Eurocurrency Interest Period shall end on the next preceding Business Day, (b) any Eurocurrency Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Eurocurrency Interest Period) shall end on the last Business Day of the last calendar month of such Eurocurrency Interest Period and (c) no Eurocurrency Interest Period for any (i) Eurocurrency Rate Revolving Loan shall end after the latest Scheduled Termination Date for the applicable Revolving Commitments under the applicable Revolving Facility or (ii) Eurocurrency Rate Term Loans shall end after the stated maturity date of such Term Loans.

  • Impacted Interest Period has the meaning assigned to such term in the definition of “LIBO Rate”.

  • rest period is a paid interval which is included in the workday and is intended to give the employee an opportunity to have refreshments or a rest.

  • Subsequent Interest Period has the meaning specified in Section 307.

  • Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date; and

  • Interest Period Date means each Interest Payment Date unless otherwise specified hereon.

  • Interest Period End Date means the date or dates specified as such in, or determined in accordance with the provisions of, the Final Terms and, if an Applicable Business Day Convention is specified in the Final Terms, as the same may be adjusted in accordance with the Applicable Business Day Convention or, if the Applicable Business Day Convention is the FRN Convention and an interval of a number of calendar months is specified in the Final Terms as the Interest Accrual Period, such dates as may occur in accordance with the FRN Convention at such specified period of calendar months following the Interest Commencement Date (in the case of the first Interest Period End Date) or the previous Interest Period End Date (in any other case) or, if none of the foregoing is specified in the Final Terms, means the date or each of the dates which correspond with the Interest Payment Date(s) in respect of the Instruments.

  • LIBOR Interest Period means, with respect to a LIBOR Advance, a period of one, two, three or six months (to the extent that periods in excess of three months are generally available from the Lenders), as selected in advance by the Borrower.

  • Eurodollar 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.

  • Competitive Borrowing means a Borrowing consisting of a Competitive Loan or concurrent Competitive Loans from the Lender or Lenders whose Competitive Bids for such Borrowing have been accepted by the Borrower under the bidding procedure described in Section 2.03.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • 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.

  • 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.

  • LIBOR Business Day Any day on which banks in London, England and The City of New York are open and conducting transactions in foreign currency and exchange.

  • Competitive Bid Advance means an advance by a Lender to the Borrower as part of a Competitive Bid Borrowing resulting from the competitive bidding procedure described in Section 2.03 and refers to a Fixed Rate Advance or a LIBO Rate Advance.

  • Absolute Rate Loan means a Bid Rate Loan, the interest rate on which is determined on the basis of an Absolute Rate pursuant to an Absolute Rate Auction.

  • Competitive Loan means a Loan made pursuant to Section 2.04.