Absolute Bid Rate definition

Absolute Bid Rate has the meaning specified in Section 2.02(c)(2).
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Absolute Bid Rate means an absolute fixed rate of interest per annum.
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Absolute Bid Rate means, with respect to an Absolute Bid Rate Loan made by a given Lender for the relevant Absolute Bid Rate Interest Period, the rate of interest per annum (rounded to the nearest 1/100 of 1%) offered by such Lender and accepted by the Borrower pursuant to Section 2.3.
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Examples of Absolute Bid Rate in a sentence

  • Administrative Agent is hereby authorized by Borrower to endorse on the schedule attached to the Bid Rate Loan Note the amount of each LIBOR Bid Rate Loan and/or Absolute Bid Rate Loan, the name of the Bank making the same, the date of the advance thereof, the interest rate applicable thereto and the expiration of the Interest Period applicable thereto (i.e., the maturity date thereof).

  • Bid Rate Advances may either bear interest at the Absolute Bid Rate or the LIBOR Bid Rate.

  • The Borrower may request offers to make Competitive Bid Loans for more than one (1) Interest Period and either a Eurodollar Auction or an Absolute Bid Rate Auction, but not both, in a single Competitive Bid Quote Request.

  • Administrative Agent is hereby authorized by Borrower to endorse on the schedule attached to the Bid Rate Loan Note the amount of each Term SOFR Bid Rate Loan and/or Absolute Bid Rate Loan, the name of the Bank making the same, the date of the advance thereof, the interest rate applicable thereto and the expiration of the Interest Period applicable thereto (i.e., the maturity date thereof).

  • The Borrower may request offers to make Competitive Bid Loans for more than one (1) Interest Period and for a Eurodollar Auction and an Absolute Bid Rate Auction in a single Competitive Bid Quote Request.

  • Each Bid Loan shall bear interest on the outstanding principal amount thereof from the relevant Borrowing Date at a rate per annum equal to the Offshore Rate plus (or minus) the LIBOR Bid Margin or the Absolute Bid Rate, as the case may be.

  • Each Absolute Bid Rate Advance shall be for a period of not less than 7 days and not more than 180 days.

  • Interest on each Absolute Bid Rate Advance shall be computed on the basis of a year of 365 or 366 days, as applicable, for the number of days actually elapsed.

  • With respect to each borrowing consisting of Bid ----------------- Rate Advances, the Borrower shall give the Administrative Lender prior to 11:00 a.m. (Dallas time), (i) in the case of LIBOR Bid Rate Advances, at least four Business Days prior to the proposed date of borrowing and (ii) in the case of Absolute Bid Rate Advances, at least three Business Days prior to the proposed date of borrowing, written notice of its intention to borrow Bid Rate Advances pursuant to a Bid Rate Advance.

  • The Borrower shall pay interest on each Absolute Bid Rate Advance at the Absolute Bid Rate offered by the Lender making such Advance (but not in excess of the Highest Lawful Rate) in arrears on its Payment Date, and, in addition, if the Interest Period for an Absolute Bid Rate Advance exceeds 90 days, interest on such Bid Rate Advance shall also be due and payable on the ninetieth day from the beginning of such Interest Period.


More Definitions of Absolute Bid Rate

Absolute Bid Rate means an absolute fixed rate of interest per annum. "Absolute Bid Rate Advances" means a Bid Rate Advance that bears interest at an Absolute Bid Rate.
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Absolute Bid Rate is hereby added to Section 1.1 of the Credit Agreement in proper alphabetical order to read as follows:
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Related to Absolute Bid Rate

  • Competitive Bid Rate means, with respect to any Competitive Bid, the Margin or the Fixed Rate, as applicable, offered by the Lender making such Competitive Bid.

  • Absolute Rate means a fixed rate of interest expressed in multiples of 1/100th of one basis point.

  • Competitive Bid Loan means a Eurodollar Bid Rate Loan or an Absolute Rate Loan, or both, as the case may be.

  • Competitive Bid Margin means the margin above or below the applicable Eurodollar Base Rate offered for a Eurodollar Bid Rate Loan, expressed as a percentage (rounded to the nearest 1/100 of 1%) to be added or subtracted from such Eurodollar Base Rate.

  • 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.

  • Competitive Bid means an offer by a Lender to make a Competitive Loan in accordance with Section 2.04.

  • Competitive Bid Note means a promissory note of any Borrower payable to any Lender (or its registered assigns), in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of such Borrower to such Lender resulting from a Competitive Bid Advance made by such Lender to such Borrower.

  • Winning Bid Rate has the meaning specified in Section 11.10(d)(i) below.

  • Competitive Bid Borrowing means a borrowing consisting of simultaneous Competitive Bid Advances from each of the Lenders whose offer to make one or more Competitive Bid Advances as part of such borrowing has been accepted under the competitive bidding procedure described in Section 2.03.

  • Bid Rate Quote means an offer by a Bank to make a Bid Rate Loan in accordance with Section 2.02.

  • Absolute Rate Auction means a solicitation of Competitive Bid Quotes setting forth Competitive Bid Absolute Rates pursuant to Section 2.03.

  • Notice of Competitive Bid Borrowing has the meaning specified in Section 2.03(a).

  • Competitive Bid Request means a request by the Borrower for Competitive Bids in accordance with Section 2.04.

  • Money Market Absolute Rate has the meaning set forth in Section 2.03(d).

  • Competitive Bid Quote Request means the notice, in substantially the form of Exhibit B hereto, to be delivered by the Borrower in accordance with Section 2.03 in requesting Competitive Bid Quotes.

  • Competitive Bid Reduction has the meaning specified in Section 2.01.

  • Competitive Bid Accept/Reject Letter means a notification made by the Borrower pursuant to Section 2.03(d) in the form of Exhibit A-4.

  • Bid Rate Note means a promissory note of the Borrower substantially in the form of Exhibit B, payable to the order of a Lender as originally in effect and otherwise duly completed.

  • Competitive Bid Quote means a response submitted by a Lender to the Administrative Agent or the Borrower, as the case may be with respect to an Invitation for Competitive Bid Quotes in the form attached as Exhibit C-3.

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

  • Bid Rate Loan means a loan made by a Lender under Section 2.3.(f).

  • Competitive bidding means a transparent process for procurement of equipment, services and works in which bids are invited by the project developer by open advertisement covering the scope and specifications of the equipment, services and works required for the project, and the terms and conditions of the proposed contract as well as the criteria by which bids shall be evaluated, and shall include domestic competitive bidding and international competitive bidding;

  • Bid Loan has the meaning specified in Section 2.03(a).

  • Money Market Absolute Rate Loan means a loan to be made by a Bank pursuant to an Absolute Rate Auction.

  • Invitation for Competitive Bid Quotes means the notice substantially in the form of Exhibit C hereto to the Lenders in connection with the solicitation by the Borrower of Competitive Bid Quotes.

  • Base Bid means a Bid for Public Works to be performed or Supplies or Services to be furnished under a City Contract, including additives, alternates, deductives, excluding force accounts, and taxes collected separately pursuant to Washington Administrative Code (“WAC”) 458-20-171.