Bid Rate Advance definition

Bid Rate Advance means a borrowing consisting of simultaneous Bid Rate Loans to a Global Borrower in the same currency from each of the Syndicated Global Lenders whose offer to make a Bid Rate Loan as part of such borrowing has been accepted by such Global Borrower under the applicable auction bidding procedure described in Section 2.10.
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Bid Rate Advance means a borrowing consisting of simultaneous Bid Rate Loans to the Borrower from each of the Lenders whose offer to make a Bid Rate Loan as part of such borrowing has been accepted by the Borrower under the applicable auction bidding procedure described in SECTION 2.10.
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Bid Rate Advance means an Advance the interest rate on which is determined by agreement between the Borrower and the Lender making such Advance pursuant to Section 2.1(c) hereof.
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Examples of Bid Rate Advance in a sentence

  • The Global Administrative Agent shall, promptly following its receipt of a Bid Rate Advance Borrowing Notice under this Section 2.10(b), notify each Syndicated Global Lender of such request by sending such Syndicated Global Lender a copy of such Bid Rate Advance Borrowing Notice.

  • No Bid Rate Advance Borrowing Notice shall contain a request for (A) more than one Type of Bid Rate Loan or (B) Bid Rate Loans having more than three different Interest Periods.

  • With respect to a request by the Borrower for a Bid Rate Advance, a solicitation in which the Borrower specifies in the Bid Rate Advance Borrowing Notice that the rates of interest to be offered by the Banks shall be absolute rates per annum.

  • With respect to a request by the Borrower for a Bid Rate Advance, a solicitation in which the Borrower specifies in the Bid Rate Advance Borrowing Notice that the rates of interest to be offered by the Banks shall be rates per annum greater or less than the Eurodollar Rate plus the Applicable Eurodollar Margin.

  • The Borrower shall have no right to prepay any principal amount of any Bid Rate Loan unless, and then only on the terms, specified by the Borrower for such Bid Rate Loan in the related Bid Rate Advance Borrowing Notice and subject to payment of Eurocurrency Breakage Costs and other compensation, if any, as provided in §5.9.

  • Interest on each Bid Rate Advance shall be computed and shall be payable at such times as agreed upon between the Borrower and the Lender making such Advance pursuant to Section 2.2(g) hereof.

  • Each payment by the Borrower in respect of obligations related to Bid Rate Advances (whether for principal, interest, fees or otherwise) shall be made to the Administrative Lender for the account of each Lender holding such Bid Rate Advance.

  • If any Lender shall elect not to make a Competitive Bid, such Lender shall so notify the Agent via telecopy by the time specified above for submitting a Competitive Bid; provided, however, that failure by any Lender to give such notice shall not cause such Lender to be obligated to make any Competitive Bid Rate Advance as part of such Competitive Bid Loan.

  • Bid Rate Advances may not be prepaid without the prior written consent of the Lender making such Bid Rate Advance.

  • The Borrower shall pay interest on the outstanding unpaid principal amount of each Bid Rate Advance at a per annum rate equal to the interest rate agreed to by the Borrower and the Lender making such Bid Rate Advance pursuant to Section 2.2(g) hereof.


More Definitions of Bid Rate Advance

Bid Rate Advance means an Advance made by a Syndicated Lender to Borrower pursuant to the bidding procedure described in Section 2.07.
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Bid Rate Advance means a request for and Advance ---------------- ---------------- under the Note with an interest rate negotiated by and between Borrower and Lender (in Lender's sole and absolute discretion) under the terms hereof and under the Note.
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Bid Rate Advance shall have the meaning specified in Section 1.01(b).
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Bid Rate Advance means a borrowing consisting of simultaneous Bid Rate Loans to a Global Borrower in the same currency from each of the Syndicated Global Lenders whose offer to make a Bid Rate Loan as part of such borrowing has been accepted by such Global Borrower under theapplicable auction bidding procedure described in S ection 2.10.
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Bid Rate Advance means an Advance made pursuant to Section 2.1(c) ---------------- -------------- hereof.
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Bid Rate Advance means any Advance hereunder that bears interest ---------------- based on the Bid Rate.
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Related to Bid Rate Advance

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

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

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

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

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

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Floating Rate Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the Floating Rate.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • 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).

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

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

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

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • 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.

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

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

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

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

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Eurocurrency Rate.

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

  • 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.