Common use of Eurodollar Interest Determination Date Clause in Contracts

Eurodollar Interest Determination Date. For any Interest Period, the date two (2) Eurodollar Business Days prior to the first day of such interest period. Eurodollar Loans. Loans bearing interest calculated by reference to the Eurodollar Rate. Eurodollar Offered Rate. The rate per annum at which Dollar deposits are offered to the Administrative Agent by prime banks in whatever Eurodollar interbank market may be selected by the Administrative Agent, in its sole discretion, acting in good faith, at or about 11:00 a.m. local time in such interbank market, on the Eurodollar Interest Determination Date for a period equal to the period of such Interest Period in an amount substantially equal to the principal amount requested to be loaned or converted to a rate based on the Eurodollar Rate. Eurodollar Rate. The rate per annum, rounded upwards to the nearest 1/16 of one percent (1%), determined by the Administrative Agent with respect to the Interest Period in accordance with the following formula: Eurodollar Rate = Eurodollar Offered Rate 1 - Reserve Rate Event of Default. See §12.1.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Waste Industries Usa Inc), Revolving Credit Agreement (Waste Industries Usa Inc)

AutoNDA by SimpleDocs

Eurodollar Interest Determination Date. For any Interest Period, the date two (2) Eurodollar Business Days prior to the first day of such interest periodInterest Period. Eurodollar Loans. Loans bearing interest calculated by reference to the Eurodollar Rate. Eurodollar Offered Rate. The rate per annum at which Dollar deposits of dollars are offered to the Administrative Agent by prime banks in whatever Eurodollar the London interbank market or other eurodollar market as may be selected by the Administrative Agent, in its sole discretion, acting in good faithAgent and approved by the Majority Banks, at or about 11:00 a.m. local time in such interbank market, on the Eurodollar Interest Determination Date Date, for a period equal to the period of such requested Interest Period in an amount substantially equal to the principal amount requested to be loaned at or converted to a rate based on the Eurodollar Rate. Eurodollar Rate. The rate per annum, rounded upwards to the nearest 1/16 of one percent (1%), determined by the Administrative Agent with respect to the an Interest Period in accordance with the following formula: Eurodollar Rate = Eurodollar Offered Rate 1 - ----------------------- 1-Reserve Rate Event of Default. See §12.1ss.12.

Appears in 1 contract

Samples: Revolving Credit Agreement (Nationsrent Inc)

AutoNDA by SimpleDocs

Eurodollar Interest Determination Date. For any Interest Period, the date two (2) Eurodollar Business Days prior to the first day of such interest periodInterest Period. Eurodollar Loans. Revolving Credit Loans bearing interest calculated by reference to the Eurodollar Rate. Eurodollar Offered Rate. The rate per annum at which Dollar deposits of dollars are offered to the Administrative Agent by prime banks in whatever Eurodollar interbank market may be selected by the Administrative Agent, in its sole discretion, acting in good faith, at or about 11:00 a.m. local time in such interbank market, on the Eurodollar Interest Determination Date Date, for a period equal to the period of such requested Interest Period in an amount substantially equal to the principal amount requested to be loaned at or converted to a rate based on the Eurodollar Rate. Eurodollar Rate. The rate per annum, rounded upwards to the nearest 1/16 of one percent (1%), determined by the Administrative Agent with respect to the an Interest Period in accordance with the following formula: Eurodollar Rate = Eurodollar Offered Rate 1 - Reserve Rate Event of Default. See §12.112.

Appears in 1 contract

Samples: Revolving Credit Agreement (Waste Connections Inc/De)

Time is Money Join Law Insider Premium to draft better contracts faster.