Absolute Rate Bid Loan definition

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

Absolute Rate Bid Loan any Bid Loan made pursuant to an Absolute Rate Bid Loan Request.

Absolute Rate Bid Loan means a Bid Loan in connection with which the rates of interest offered by the Banks pursuant to Section 1.04 shall be Absolute Rates per annum and with a term of 1 to 180 days.

Examples of Absolute Rate Bid Loan in a sentence

• Bid Loans shall accrue interest at the applicable Eurodollar Rate PLUS the Eurodollar Bid Margin, in the case of a Eurodollar Bid Loan, and at the Absolute Rate, in the case of any Absolute Rate Bid Loan, in each case as determined in accordance with SECTION 2.

• This is an [Index Rate] [Absolute Rate] Bid Loan Request pursuant to subsection 2.2 of the Credit Agreement requesting quotes for the following Bid Loans: Aggregate Principal Amount $ $ $ Borrowing Date Interest Period Maturity Period Interest Payment Dates Interest Rate Basis 360 day year NOTE: THE AGGREGATE PRINCIPAL AMOUNTS APPEARING ABOVE MUST BE IN THE AGGREGATE AT LEAST EQUAL TO $25,000,000 AND IN A WHOLE MULTIPLE OF $5,000,000.

• Subject to the terms and conditions of this Agreement, the Company may borrow Bid Loans from time to time during the Bid Loan Commitment Period on any Business Day (in the case of Bid Loans made pursuant to an Absolute Rate Bid Loan Request) or any Working Day (in the case of Bid Loans made pursuant to an Index Rate Bid Loan Request).

• Each Absolute Rate Bid Loan shall bear interest on the outstanding principal amount thereof for each day from the date such Bid Loan is made until it becomes due at a rate per annum equal to the Absolute Rate Bid offered by the Bank making such Bid Loan and accepted by the applicable Borrower as the rate applicable to such Absolute Rate Bid Loan, pursuant to Section 7.4(b).

• Any overdue principal of and, to the extent permitted by law, overdue interest on any Absolute Rate Bid Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to the sum of 1% plus the higher of (i) the Absolute Rate for such Loan and (ii) the rate applicable to Reference Loans for such day.

More Definitions of Absolute Rate Bid Loan

Absolute Rate Bid Loan means a Bid Loan that bears interest at an Absolute Rate.

Absolute Rate Bid Loan any Bid Loan bearing interest at an absolute fixed rate.

Absolute Rate Bid Loan means a Bid Loan in connection with which the rates of interest offered by the Banks pursuant to

Absolute Rate Bid Loan means a Bid Loan that bears interest at an ---------------------- Absolute Rate. "Accommodation Obligations", as applied to any Person, means any ------------------------- Indebtedness or other Contractual Obligation or liability, contingent or otherwise, of another Person in respect of which that Person is liable, including, without limitation, any such indebtedness, obligation or liability directly or indirectly guaranteed, endorsed (otherwise than for collection or deposit in the ordinary course of business), co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable, including in respect of any partnership in which that Person is a general partner, Contractual Obligations (contingent or otherwise) arising through any agreement to purchase, repurchase or otherwise acquire such indebtedness, obligation or liability or any security therefor, or to provide funds for the payment or discharge thereof (whether in the form of loans, advances, stock purchases, capital contributions or otherwise), or to maintain solvency, assets, level of income, or other financial condition, or to make payment other than for value received.

Absolute Rate Bid Loan means a Bid Loan that bears interest at a rate determined with reference to the Absolute Rate. Affiliate means, as to any Person, any other Person which, directly or indirectly, is in control of, is controlled by, or is under common control with, such Person. A Person shall be deemed to control another Person if the controlling Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such other Person, whether through the ownership of voting securities, membership interests, by contract, or otherwise.

Absolute Rate Bid Loan means a Bid Loan that bears interest at a

Absolute Rate Bid Loan means a Bid Loan that bears interest at a rate determined with reference to the Absolute Rate. “Acquisition” means any transaction or series of related transactions for the purpose of or resulting, directly or indirectly, in (a) the acquisition of all or substantially all of the assets of a Person, or of any material part of the business and operations or division of a Person, (b) the acquisition of in excess of 50% of the capital stock, partnership interests or equity of any Person, or otherwise causing any Person to become a Subsidiary, or (c) a merger or consolidation or any other combination with another Person (other than a Person that is a Subsidiary) provided that the Company or a Subsidiary is the surviving entity. “Affiliate” means, as to any Person, any other Person which, directly or indirectly, is in control of, is controlled by, or is under common control with, such Person. A Person shall be deemed to control another Person if the controlling Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of the other Person, whether through the ownership of voting securities, by contract, or otherwise. “Agent” means Bank One in its capacity as administrative agent for the Banks hereunder, and any successor agent arising under Section 9.09. “Agent-Related Persons” means Bank One in its capacity as Agent and any successor agent arising under Section 9.09, together with their respective Affiliates