Bid Rate Option definition

Bid Rate Option means the interest rate option that may be agreed upon between the Borrower and one or more of the Lenders pursuant to Section 2.2 hereof.
Sample 1Sample 2Sample 3

Examples of Bid Rate Option in a sentence

  • In selecting a Bid Rate Option from any Lender, such Lender may make an advance in excess of such Lender's Commitment.

  • Subject to the provisions of this Section 2.2, each Lender severally agrees that the Borrower may request Bid Rate Loans, in an aggregate amount at any one time outstanding not to exceed the lesser of (i) $50,000,000 and (ii) the sum of (a) the aggregate Long Term Revolving Credit Commitment minus (b) the aggregate principal amount of all Long Term Revolving Credit Loans then outstanding, which shall bear interest at the Bid Rate Option.

  • In connection with the Bid Rate Option, any Lender may make an advance in excess of such Lender's Commitment.

  • Subject to the provisions of this Section 2.5, each Bank agrees the Borrower may request from any Bank Bid Rate Loans, in an aggregate amount at any one time outstanding not to exceed $350,000,000, bearing interest at the Bid Rate Option.

  • In connection with the Bid Rate Option, any Lender with a Long Term Revolving Credit Commitment may make an advance in excess of such Lender's Long Term Revolving Credit Commitment.

  • Subject to the provisions of this Section 2.2, each Lender severally agrees that the Borrower may request Bid Rate Loans, in an aggregate amount at any one time outstanding not to exceed $500,000,000 less the aggregate principal amount of all Revolving Credit Loans and Swingline Loans then outstanding, which shall bear interest at the Bid Rate Option.

  • In connection with the Bid Rate Option, any Lender may make an advance in excess of such Lender's Long Term Revolving Credit Commitment.

  • Subject to the provisions of this Section 2.2, each Lender severally agrees that the Borrower may request Bid Rate Loans, in an aggregate amount at any one time outstanding not to exceed the lesser of (i) $50,000,000 and (ii) the sum of (a) the aggregate Commitments minus (b) the aggregate principal amount of all Revolving Credit Loans and Swing Line Loans then outstanding, which shall bear interest at the Bid Rate Option.

  • The amount of the Spread which shall govern each Facility B Loan shall be determined under either the Requested Rate Option or the Bid Rate Option, at the option of Borrower as set forth in clauses (i) and (ii) below.

Related to Bid Rate Option

  • LIBOR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(ii) [Revolving Credit LIBOR Rate Option].

  • Base Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(i) [Revolving Credit Base Rate Option].

  • Euro-Rate Option shall have the meaning set forth in Section 2.04(a)(ii) hereof.

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • Rate Option means the Eurocurrency Rate or the Floating Rate, as applicable.

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Revolving Credit Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

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

  • 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.

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

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

  • 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.

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

  • LIBOR Tranche means the collective reference to LIBOR Rate Loans whose Interest Periods begin and end on the same day.

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

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

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

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

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(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 under the bidding procedure described in Section 2.03.

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

  • Base Rate Committed Loan means a Committed Loan that is a Base Rate Loan.

  • Eurodollar Rate Committed Loan means a Committed Loan that bears interest at a rate based on the Eurodollar Rate.

  • LIBOR Option has the meaning specified therefor in Section 2.12(a) of the Agreement.