Substitute Rate Loan definition

Substitute Rate Loan means the Loan at any time in which the Applicable Interest Rate is calculated at the Substitute Rate.

Substitute Rate Loan means the Loan at any time in which the Applicable Interest Rate is calculated at the Substitute Rate plus the Substitute Spread in accordance with the provisions of Article II hereof.

Substitute Rate Loan means a Euro Committed Loan denominated in Euro that bears interest at a rate based on the Substitute Rate.

Examples of Substitute Rate Loan in a sentence

• Subject to Section 2.2.4(e), at any time that the Loan is a Base Rate Loan or a Substitute Rate Loan, Borrower shall maintain a Substitute Interest Rate Protection Agreement.

• Notwithstanding any provision of this Agreement to the contrary, in no event shall Borrower have the right to convert a LIBOR Loan to a Substitute Rate Loan.

• If, pursuant to the terms of this Agreement, the Loan has been converted to a Substitute Rate Loan and Lender shall determine (which determination shall be conclusive and binding upon Borrower absent manifest error) that the event(s) or circumstance(s) which resulted in such conversion shall no longer be applicable, Lender shall give notice thereof to Borrower, and the Substitute Rate Loan shall automatically convert to a LIBOR Loan on the effective date set forth in such notice.

• Each Tranche A Loan and Tranche B Loan shall be a Yen LIBOR Loan or, solely upon the occurrence of an event described in Section 8.1, 8.2 or 8.5, a Substitute Rate Loan, as further provided herein.

• Except as provided in Article VIII and except with respect to any Yen LIBOR Loan that has been converted to a Substitute Rate Loan pursuant to Section 8.1, 8.2 or 8.5, the Borrower may not prepay all or any portion of the principal amount of any Yen LIBOR Loan prior to the end of the Interest Period applicable thereto unless the Borrower shall also pay any applicable expenses pursuant to Section 2.11.

More Definitions of Substitute Rate Loan

Substitute Rate Loan means a Loan denominated in a currency other than Dollars that bears interest at a rate based on a Substitute Rate.

Substitute Rate Loan means a Loan that bears interest at a rate based on the Substitute Rate. “Substitution Event” has the meaning set forth in Section 2.13.

Substitute Rate Loan means a Euro Committed Loan denominated in Euro that bears interest at a rate based on the Substitute Rate. “Successor Rate” has the meaning specified in Section 7.3.2.

Substitute Rate Loan means the Mezzanine Loan at any time when the Applicable Interest Rate is calculated at the Substitute Rate plus the Substitute Spread in accordance with the provisions of Article 2 hereof.

Substitute Rate Loan means the Loan at any time when the Applicable Interest Rate is calculated at the Substitute Rate plus the Substitute Spread in accordance with the provisions of Article II hereof.

Substitute Rate Loan means a Euro Committed Loan that bears interest at a rate based on the Substitute Rate. “Supplemental Addendum” has the meaning specified in Section 6.14.2.

Substitute Rate Loan means a Loan which bears interest at the Substitute Rate pursuant to the provisions of Sections 2.09, 2.11 or 2.15.