Eurodollar Rate Option Sample Clauses

Eurodollar Rate Option. Subject to the terms and conditions set forth in this Agreement, (i) any Revolving Loan or Term Loan and (ii) any portion of the outstanding Revolving Loans, in any case in an amount equal to $100,000 or a greater integral multiple of $100,000, may be made or maintained subject to a Eurodollar Rate election as below provided: (a) A Eurodollar Rate election shall be made in writing (or, if by telephone, confirmed in writing on the same day) by 11:00 a.m. Boston time two (2) Eurodollar Banking Days before the commencement of the relevant Eurodollar Interest
Sample 1
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Eurodollar Rate Option. Interest under the Eurodollar Rate Option shall accrue at a rate per annum (computed upon the basis of a year of 360 days and the actual number of days elapsed) for each day equal to the sum of (A) the Eurodollar Rate for each Interest Period plus (B) (1) on and prior to June 30, 1998, the Applicable Eurodollar Rate Margin set forth in the chart below: ---------------------------------------------- --------------------------------- LEVERAGE RATIO APPLICABLE EURODOLLAR RATE MARGIN ---------------------------------------------- --------------------------------- Greater than 2.00 to 1.0 1.50% ---------------------------------------------- --------------------------------- Less than or equal to 2.00 to 1.0, 1.25% but greater than 1.00 to 1.0 ---------------------------------------------- --------------------------------- Less than or equal to 1.00 to 1.0 1.00% ---------------------------------------------- ---------------------------------
Sample 1
Eurodollar Rate Option. Notwithstanding the foregoing, upon Borrowers' election of a Eurodollar Rate pursuant to Section 2.4(i), the outstanding principal amount of the Eurodollar Loan shall bear interest until paid in full at the Base Eurodollar Rate plus a margin (the "Eurodollar Applicable Margin") according to the Base Interest Rate in effect at the time, as follows: Base Interest Rate Eurodollar Applicable Margin Base Rate + 1.25% + 4.00% Base Rate + 1.00% + 3.75% Base Rate + 0.75% + 3.50% Base Rate + 0.50% + 3.25% Base Rate + 0.25% + 3.00%
Sample 1
Eurodollar Rate Option. Interest under the Eurodollar Rate Option shall accrue at a rate per annum (computed upon the basis of a year of 360 days and the actual number of days elapsed) for each day equal to the sum of (A) the Eurodollar Rate for each Interest Period plus (B) the Applicable Eurodollar Rate Margin as determined below. ============================================================== Applicable Eurodollar Rate Margin Ratio of Total Funded Debt to EBITDA (per annum) -------------------------------------------------------------- Greater than 2.0 to 1.0 150 basis points -------------------------------------------------------------- Greater than 1.5 to 1.0, but less than or equal to 2.0 to 1.0 125 basis points -------------------------------------------------------------- Greater than 1.0 to 1.0, but less than or equal to 1.5 to 1.0 100 basis points -------------------------------------------------------------- Greater than 0.50 to 1.0, but less than or equal to1.0 to 1.0 87.5 basis points -------------------------------------------------------------- Less than or equal to 0.50 to 1.0 75 basis points ============================================================== Upon receipt by the Agent of the quarterly financial statements delivered pursuant to Subsection 5.2(a) hereof, the Applicable Eurodollar Rate Margin shall be adjusted, if necessary, effective on the first day of the calendar month following delivery of such quarterly financial statements. In calculating the above ratio, Total Funded Debt shall be determined as of the end of such Fiscal Quarter and EBITDA shall be measured, on a rolling four quarter basis, for the immediately preceding four Fiscal Quarters then ended, taking into account the pro forma adjustments to EBITDA, if any, made in accordance with the description in Section 6.1. Notwithstanding the table of applicable percentages set forth above and the adjustment to the Applicable Eurodollar Rate Margin in accordance with the terms of this subsection 2.5(b)(ii), during the period from the Closing Date through the six month anniversary of the Closing Date, the Applicable Eurodollar Rate Margin (per annum) shall not be less than 100 basis points.
Sample 1
Eurodollar Rate Option. A fixed rate per annum for each day during a Eurodollar Interest Period equal to the Eurodollar Rate plus the Applicable Margin for such day. The Agent shall give prompt notice to the Co-Borrowers and to the Lenders of the Eurodollar Rate determined or adjusted in accordance with the provisions hereof, which determination or adjustment shall be conclusive (absent manifest error) if made in good faith. The Eurodollar Rate shall be calculated in accordance with the Eurodollar Reserve Percentage, if the Agent is required to hold such reserves.
Sample 1
Eurodollar Rate Option. Interest under the Eurodollar Rate Option shall accrue at a rate per annum (computed upon the basis of a year of 360 days and the actual number of days elapsed) for each day equal to the sum of (A) the Eurodollar Rate for each Interest Period plus (B) the Applicable Eurodollar Rate Margin as determined below. APPLICABLE EURODOLLAR RATE LEVERAGE RATIO MARGIN -------------- --------------- Greater than 3.00 to 1.0 2.00% Less than or equal to 3.00 to 1.0, but greater than 2.25 to 1.0 1.50% Less than or equal to 2.25 to 1.0, but greater than 1.50 to 1.0 1.25% Less than or equal to 1.50 to 1.0 1.00% Upon receipt by the Agent of the quarterly financial statements delivered pursuant to Subsection 5.2a hereof, the Applicable Eurodollar Rate Margin shall be adjusted, if necessary, effective on the date such quarterly financial statements are due in accordance with Subsection 5.2a hereof regardless of the actual date of delivery thereof.
Sample 1
Eurodollar Rate Option. A fixed rate per annum for each day during a Eurodollar Interest Period equal to the Adjusted LIBO Rate plus the Applicable Margin for such day. The Lender shall give prompt ---- notice to the Borrower of the Adjusted LIBO Rate determined or adjusted in accordance with the provisions hereof, which determination or adjustment shall be conclusive (absent manifest error) if made in good faith.
Sample 1
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Eurodollar Rate Option. A fluctuating rate per annum (fixed for each day during a Eurodollar Interest Period ONLY) equal to the Eurodollar Rate PLUS the Applicable Margin for such day. The Administrative Agent shall give prompt notice to the US Borrowers and to the Lenders of the Eurodollar Rate determined or adjusted in accordance with the provisions hereof, which determination or adjustment shall be conclusive (absent manifest error) if made in good faith. The Eurodollar Rate shall be calculated in accordance with the Eurodollar Reserve Percentage, if the Administrative Agent is required to hold such reserves. The Eurodollar Option shall NOT be available for Canadian Revolving Credit Loans denominated in Canadian Dollars.
Sample 1
Eurodollar Rate Option. (i) Notwithstanding the foregoing, upon receipt by the Agent Bank of at least three (3) Eurodollar Business Days' written notice from the Borrower, the Borrower may elect with respect to a principal amount of the Loans designated in such notice and equal to at least $2,000,000 or an integral multiple thereof, for the Interest Period next ensuing, which period shall equal one (1), two (2), three (3) or six (6) months as designated by the Borrower, an interest rate based on the Eurodollar Rate (computed on the basis of a 360 day year). Interest on Eurodollar Loans shall be equal to the Eurodollar Rate, plus the Applicable Margin computed with reference to the Leverage Ratio as follows: Total Consolidated Debt/Consolidated EBITDA (for the preceding four Applicable Margin Quarters) minus Capital Expenditures (per annum) ------------------------------ ----------- Greater than or equal to 2.00 2.50% Less than 2.00 but greater than or equal to 1.00 2.00% Less than 1.00 1.75% Quarterly changes, if any, in the Applicable Margin under this Section 2.4(b) shall become effective as follows: The Borrower shall provide the Agent Bank with Quarterly Financial Statements (duly certified by an Officer of the Borrower) and an Officer's Certificate within forty-five (45) days after the close of each Quarter other than the fourth Quarter of each year, and within ninety (90) days after the close of the fourth Quarter of each year, setting forth the computations and information as of the end of the preceding Quarter necessary to adjust the Applicable Margin. Any change to the Applicable Margin with respect to the Eurodollar Rate shall be effective as of the next succeeding Business Day following the day on which the Quarterly Financial Statements and the applicable Officer's Certificate are delivered. Notwithstanding the foregoing, in the event that the Quarterly Financial Statements and applicable Officer's Certificate are not delivered within forty-five (45) days (or within ninety (90) days with respect to the fourth Quarter), interest on Eurodollar Loans shall be the Eurodollar Rate plus two and one-half percent (2.50%) per annum, effective on the expiration of such forty-five (45) or ninety (90) day period, as the case may be, and continuing until such Quarterly Financial Statements and applicable Officer's Certificate are delivered to the Agent Bank as aforesaid.
Sample 1

Related to Eurodollar Rate Option

  • Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Eurodollar Rate Advances During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full.

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

  • Reserves on Eurodollar Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

  • Eurocurrency Rate Advances During such periods as such Advance is a Eurocurrency Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurocurrency Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurocurrency Rate Advance shall be Converted or paid in full.

  • Eurodollar Rate Loans Any conversion to or from Eurodollar Rate Loans shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of all Eurodollar Rate Loans having the same Interest Period shall not be less than $1,000,000 or a whole multiple of $500,000 in excess thereof.

  • Booking of Eurodollar Rate Loans Any Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.

  • LIBOR Advances The interest rate applicable to each LIBOR Advance shall be determined in accordance with Section 3.6(a) hereunder. Subject to Sections 3.6 and 3.7, such rate shall apply during the entire Interest Period applicable to such LIBOR Advance, and interest calculated thereon shall be payable on the Interest Payment Date applicable to such LIBOR Advance.

  • Reserves on Eurocurrency Rate Loans The Domestic Borrower shall pay (or cause the Foreign Borrower to pay) to each Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive) and (ii) without duplication of any cost in clause (i) of this clause (e), as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Domestic Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such notice.

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