Absolute Rate Borrowing definition

Absolute Rate Borrowing means a Competitive Bid Borrowing with respect to which the Borrower has requested that the Banks offer to make Competitive Bid Loans at Absolute Rates.
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Examples of Absolute Rate Borrowing in a sentence

  • The "Interest Period" with respect to each Money Market Absolute Rate Borrowing means the period commencing on the day the Money Market Absolute Rate Loans constituting such Borrowing are made and ending on any day up to 180 days thereafter, as the Borrower may elect in the applicable Notice of Borrowing; provided that any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day.

  • To request Competitive Bids, the Borrower shall notify the Administrative Agent of such request by telephone, in the case of a Eurodollar Borrowing, not later than 11:00 a.m., Dallas time, four Business Days before the date of the proposed Borrowing and, in the case of a Absolute Rate Borrowing, not later than 10:00 a.m., Dallas time, one Business Day before the date of the proposed Borrowing; provided that the Borrower may submit up to (but not more than) three Competitive Bid Requests on the same day.

Related to Absolute Rate Borrowing

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

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

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.

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

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • 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 Borrowing means a borrowing consisting of simultaneous Bid Loans of the same Type from each of the Lenders whose offer to make one or more Bid Loans as part of such borrowing has been accepted under the auction bidding procedures described in Section 2.03.

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Competitive Borrowing means a Borrowing consisting of a Competitive Loan or concurrent Competitive Loans from the Lender or Lenders whose Competitive Bids for such Borrowing have been accepted under the bidding procedure described in Section 2.03.

  • Committed Borrowing means a borrowing consisting of simultaneous Committed Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Revolving Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.

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

  • ABR Loans Loans the rate of interest applicable to which is based upon the ABR.

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Eurocurrency Borrowing means a Borrowing comprised of Eurocurrency Loans.