Bid Absolute Rate Loan definition

Bid Absolute Rate Loan means that portion of any Loan at the time the Bid Absolute Rate is applicable thereto.
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Examples of Bid Absolute Rate Loan in a sentence

  • The unpaid principal amount of each Competitive Bid Absolute Rate Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the Competitive Bid Absolute Rate quoted by the Lender making such Loan.

  • Each Bid Absolute Rate Loan shall be repaid in full by the Company on the last day of the Bid Interest Period applicable thereto.

  • The Administrative Agent shall promptly, but in any event by 12:00 p.m. (noon), notify each Lender of its receipt of a Competitive Bid Borrowing Notice and the aggregate principal amount of such Bid Absolute Rate Loan allocated to each participating Lender.

  • Interest accrued on Fixed Rate Loans shall be payable on the last day of the applicable Interest Period and, in the case of an Interest Period longer than three months (or longer than 90 days in the case of a Bid Absolute Rate Loan), interest shall also be payable every three months (or every 90 days in the case of a Bid Absolute Rate Loan) during the Interest Period, upon any prepayment (whether due to acceleration or otherwise) and on the Termination Date.

  • The "TYPE" of a Loan refers (i) in the case of Committed Loans, to whether such Loan is a Base Rate Loan or a Eurodollar Loan and (ii) in the case of Competitive Bid Loan, to whether such Loan is a Competitive Bid Absolute Rate Loan or a Competitive Bid LIBOR Loan.

  • On each date on which a Bid Absolute Rate Loan is made, the Company shall deliver to the Administrative Agent, for the account of the relevant Lender, a duly executed and completed Bid Note if requested.

  • No Bank may submit a Bid Quote for a Bid Absolute Rate Loan which has a Bid Interest Period later than such Bank's Termination Date.

  • No Bank may submit a Bid Quote for a Bid Absolute Rate Loan which has a Bid Interest Period later than such Bank’s Termination Date.

  • The Administrative Agent shall promptly, but in any event by noon (New York City time), notify each Bank of its receipt of a Competitive Bid Borrowing Notice and the aggregate principal amount of such Bid Absolute Rate Loan allocated to each participating Bank.

  • The consent of the Issuing Bank, shall be required prior to any assignment becoming effective; provided that no consent of the Issuing Banks shall be required for an assignment of all or any portion of a Bid Absolute Rate Loan.

Related to Bid Absolute Rate Loan

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

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

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

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

  • Absolute Rate has the meaning given that term in Section 2.2.(c)(ii)(C).

  • Eurocurrency Rate Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars or in an Agreed Currency which bears interest as provided in Section 2.07(b) or a Local Currency Advance which bears interest as provided in Section 2.07(b) and the Local Currency Addendum.

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • 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.

  • Competitive Bid Advance means an advance by a Lender to any 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.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Competitive Bid Loan means a Competitive Bid LIBOR Loan or a Competitive Bid Absolute Rate Loan.

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

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

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an -------------- Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

  • 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.

  • Eurodollar Rate Committed Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of “Eurodollar Rate.”

  • Alternative Currency Term Rate Loan means a Loan that bears interest at a rate based on the definition of “Alternative Currency Term Rate.” All Alternative Currency Term Rate Loans must be denominated in an Alternative Currency.

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

  • LIBOR Loan means any portion of a Loan (other than a Base Rate Loan) bearing interest at a rate based on LIBOR.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(ii).

  • 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 by the Borrower under the bidding procedure described in Section 2.03.

  • Alternative Currency Daily Rate Loan means a Loan that bears interest at a rate based on the definition of “Alternative Currency Daily Rate.” All Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.

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

  • 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.