BSBY Rate Borrowing definition

BSBY Rate Borrowing means a Borrowing comprised of BSBY Rate Loans.
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BSBY Rate Borrowing has the meaning assigned to such term in Section 1.02.
Sample 1
BSBY Rate Borrowing means a Borrowing comprised of BSBY Rate Loans. “BSBY Rate Loan” shall mean a Loan bearing interest at a rate determined by reference to the BSBY Rate. “BSBY Reserve Percentage” shall mean, as of any day, the maximum effective percentage in effect on such day, if any, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) with respect to BSBY Screen Rate funding. “BSBY Screen Rate” shall mean the Bloomberg Short-Term Bank Yield Index rate administered by Bloomberg and published by Bloomberg (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time). “Business Day” shall mean any day other than Saturday or Sunday or a legal holiday on which commercial banks are authorized or required by law to closed for business in the State of New York; provided that, for purposes of any direct or indirect calculation or determination of the BSBY Screen Rate, the term “Business Day” shall mean any such day that is also a U.S. Government Securities Business Day. “Canadian Benefit Plan” means any deferred compensation, bonus, share option or purchase, savings, retirement savings, retirement benefit, profit sharing, medical, health, hospitalization, insurance or any other benefit, program, agreement or arrangement, funded or unfunded, formal or informal, written or unwritten, that is applicable to any current or former employee, director, officer, shareholder, consultant or independent contractor of the Borrower or any Restricted Subsidiary, or any dependent of any of them, except a Canadian Pension Plan or a Statutory Plan. “Canadian Pension Plan” means a “pension plan” or “plan” within the meaning of the applicable pension benefits legislation in any jurisdiction of Canada, that is organized and administered to provide pensions, pension benefits or retirement benefits for employees and former employees of the Borrower or any Restricted Subsidiary. “Capitalization Amount” as defined in the Recitals hereto. DMFIRM #406105327 v12 12
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Examples of BSBY Rate Borrowing in a sentence

  • In the event the Borrower fails to deliver in accordance with Section 2.9 a Conversion/Continuation Notice with respect to any BSBY Rate Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to a Base Rate Borrowing.

  • If no Interest Period is specified with respect to any requested BSBY Rate Borrowing or Euro-Currency Borrowing, then the applicable Borrower or Additional Borrower shall be deemed to have selected an Interest Period of one month’s duration.

  • The Administrative Agent shall advise each Lender of the details and amount of any Loan to be made as part of the requested Borrowing (x) in the case of any Base Rate Loan Borrowing, on the same Business Day of receipt of a Loan Notice in accordance with this Section or (y) in the case of any BSBY Rate Borrowing, on the same Business Day as the receipt of a Loan Notice in accordance with this Section.

  • If no Interest Period is specified with respect to any requested BSBY Rate Borrowing, then the Borrowers shall be deemed to have selected an Interest Period of one month’s duration.

  • Notwithstanding anything to the contrary herein, if an Event of Default exists and the Administrative Agent, at the request of the Required Lenders, so notifies the Lead Borrower, then, so long as such Event of Default exists (i) no outstanding Borrowing may be converted to or continued as a BSBY Rate Borrowing and (ii) unless repaid, each BSBY Rate Borrowing shall be converted to a Base Rate Loan Borrowing at the end of the then-current Interest Period applicable thereto.

  • Thereafter, the Borrowers may elect to convert any Borrowing to a Borrowing of a different Type or to continue such Borrowing and, in the case of a BSBY Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section.

Related to BSBY Rate Borrowing

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

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed 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.

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

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

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

  • 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.

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

  • 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).

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • 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.

  • 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.

  • ABR Borrowing means a Borrowing comprised of ABR Loans.

  • Eurocurrency Borrowing means a Borrowing comprised of Eurocurrency Loans.

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

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

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

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

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

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

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

  • Swingline Borrowing means a borrowing of a Swingline Loan pursuant to Section 2.04.

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

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