Term Rate Loan Option definition

Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2.3(a).
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Term Rate Loan Option means the option of the Borrower to have Loans bear interest at a rate based on the Term SOFR Rate or Term RFR for the relevant Currency and under the terms specified for Term SOFR Rate Loans or Term RFR Loans denominated in such Currency, as applicable, in Section 2.08.
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Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 4.1.1(ii) [Revolving Credit Term Rate Loan Option]."
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Examples of Term Rate Loan Option in a sentence

  • In the case of the renewal of a Term Rate Loan 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.

  • The athletes will be elected pursuant to the election procedures set forth by the corporation’s Athletes’ Advisory Committee, and both shall be female.

  • If the Borrower fails to select a new Interest Period to apply to any Borrowing of Loans in Dollars under any Term Rate Loan Option at the expiration of an existing Interest Period applicable to such Borrowing in accordance with the provisions of Section 2.13(b), the Borrower shall be deemed to have selected an Interest Period of one (1) month, as applicable to Revolving Loans or Term Loans as the case may be, commencing upon the last day of the existing Interest Period.

  • As to any Loans to which a Term Rate Loan Option applies (including on and after the Term RFR Transition Date with respect to any currency, as to any RFR Loan denominated in such currency), interest shall be due and payable on the last day of each Interest Period for those Loans and, if such Interest Period is longer than three (3) Months, also on the 90th day of such Interest Period.

  • At any time when the Borrowing Agent shall select, convert to or renew a Term Rate Loan Option, the Borrowing Agent shall notify the Administrative Agent thereof by delivering a Loan Request at least (i) for a Term SOFR Rate Option with respect to Revolving Credit Loans denominated in Dollars, three (3) Business Days prior to the effective date and (ii) for a Term RFR Option with respect to Revolving Credit Loans denominated in Alternative Currencies, four (4) Business Days prior to the effective date.

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

  • If the Borrower fails to select a new Tranche Period to apply to any Borrowing Tranche of Loans under any Term Rate Loan Option at the expiration of an existing Tranche Period applicable to such Borrowing Tranche in accordance with the provisions of Section 2.07, the Borrower shall be deemed to have converted such Borrowing Tranche to the SOFR Rate Option with a Tranche Period of one (1) month commencing upon the last day of the existing Tranche Period.

  • In the case of the renewal of a Term Rate Loan 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, or such other day as agreed to by the Administrative Agent and the Company.

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

  • If the Borrower fails to select a new Interest Period to apply to any Borrowing Tranche of Loans under any Term Rate Loan 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 Daily Simple SOFR commencing upon the last day of the existing Interest Period.


More Definitions of Term Rate Loan Option

Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(i) [Revolving Credit Loan Term Rate Loan Option] or Section 4.1(c)(i) [Term Loan and Delayed Draw Term Loans Term Rate Loan Option], as applicable.
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Term Rate Loan Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 2.08(a)(i). “Term RFR” means, with respect to Euros for any Interest Period, a rate per annum determined by the Administrative Agent, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to any applicable Term RFR Forward Looking Rate by dividing (the resulting quotient rounded upwards, at the Administrative Agent’s discretion, to the nearest 1/100 of 1%) (a) the applicable Term RFR Forward Looking Rate by (b) a number equal to 1.00 minus the RFR Reserve Percentage; provided that if the adjusted rate as determined above would be less than the Floor, such rate shall be deemed to be the Floor for purposes of this Agreement. The adjusted Term RFR for each outstanding Term RFR Loan shall be adjusted automatically as of the effective date of any change in the RFR Reserve Percentage. The Administrative Agent shall give prompt notice to the Borrower of the adjusted Term RFR rate as determined or adjusted in accordance herewith, which determination shall be conclusive absent manifest error. “Term RFR Forward Looking Rate” means, with respect to Euros for any Interest Period, the forward-looking term rate for a period comparable to such Interest Period based on the RFR for such Currency that is published by an authorized benchmark administrator and is displayed on a screen or other information service, each as identified or selected by the Administrative Agent in its reasonable discretion at approximately a time and as of a date prior to the commencement of such Interest Period determined by the Administrative. “Term RFR Loan” means a Loan that bears interest based on Term RFR. “Term RFR Notice” means a notification by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term RFR Transition Event.
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Term Rate Loan Option means a Loan that bears interest at a rate based on the Term SOFR Rate or Term RFR Rate. Term RFR means, for any Term RFR Borrowing for any Interest Period, a rate per annum determined by the Administrative Agent (rounded upwards, at the Administrative Agent’s discretion, to the nearest 1/100 of 1%) equal to, for any Obligations, interest, fees, commissions, or other amounts denominated in, or calculated with respect to:
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Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2(vi)(B).sto
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Term Rate Loan Option means the Term SOFR Rate Option or the Eurocurrency Rate Option, as applicable.
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Related to Term Rate Loan Option

  • Term SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Term SOFR (other than a Loan for which clause (c) of the definition of Base Rate is used to determine Base Rate).

  • Alternative Currency Term Rate Loan means a Loan that bears interest at a rate based on the definition of “Alternative Currency Term Rate.” All Alternative Currency Term Rate Loans must be denominated in an Alternative Currency.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • LIBOR Rate Loan means a Loan that bears interest based on LIBOR.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Term SOFR Advance means an Advance denominated in Dollars which, except as otherwise provided in Section 2.11, bears interest at the Adjusted Term SOFR Rate.

  • Bid Rate Loan means a loan made by a Lender under Section 2.2.

  • Absolute Rate Loan means a Bid Loan that bears interest at a rate determined with reference to an Absolute Rate.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an -------------- Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

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

  • LIBOR Loan means any portion of a Loan (other than a Base Rate Loan) bearing interest at a rate based on LIBOR.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

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

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • 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.