BSBY Rate Loan definition

BSBY Rate Loan means a Loan bearing interest at a rate determined by reference to the BSBY Rate.

BSBY Rate Loan means a Loan that bears interest at a rate based on clause (a) of the definition of BSBY Rate.

BSBY Rate Loan means a Loan that bears interest based on the BSBY Rate.

Examples of BSBY Rate Loan in a sentence

• Except as otherwise provided herein, a BSBY Rate Loan may be continued or converted only on the last day of an Interest Period for such BSBY Rate Loan.

• Subject to the provisions of Section 2.08(b), (i) each BSBY Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period from the applicable Borrowing date at a rate per annum equal to the BSBY Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable Borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.

• Any prepayment of any BSBY Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.

• If the Borrower fails to give a timely notice requesting a conversion or continuation of a BSBY Rate Loan, then the applicable Loan shall be continued as a BSBY Rate Loan with an Interest Period of one month.

• Each Interest Period of aLIBOR BSBY Rate Loan shall commence on the date such LIBORBSBY Rate Loan is made and shall end on such date as Borrowing Agent may elect as set forth in subsection (b)(iii) above, provided that the exact length of each Interest Period shall be determined in accordance with the practice of the interbank market for offshore Dollar deposits and no Interest Period shall end after the last day of the Term.

More Definitions of BSBY Rate Loan

BSBY Rate Loan means an Advance that bears interest based on BSBY Rate.

BSBY Rate Loan means a Revolving Loan or a Term Loan that bears interest at a rate based on clause (a) of the definition of BSBY Rate. “BSBY Screen Rate” means the Bloomberg Short-Term Bank Yield Index rate administered by Bloomberg and published on the applicableReuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent fromtime to time).

BSBY Rate Loan means each Loan bearing interest based on the BSBY Rate. “BSBY Replacement Date” has the meaning set forth in Section 3.3(b)(vi).

BSBY Rate Loan means a Revolving Credit Loan that bears interest at a rate based on the BSBY Rate. “BSBY Replacement Date” has the meaning specified in Section 3.03(b).

BSBY Rate Loan means a Loan that bears interest at a rate based on clause (a) of the definition of BSBY Rate. “BSBY Screen Rate” means the Bloomberg Short-Term Bank Yield Index rate administered by Bloomberg (or any successor administrator satisfactory to the Administrative Agent) and published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time). “Business” has the meaning specified in Section 6.09. “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the

BSBY Rate Loan means a Loan that bears interest based on the BSBY Rate. BSBY Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 5.1.1(i)(A) [Revolving Credit BSBY Rate Option] or Section 5.1.3(i)(A) [Term Loan BSBY Rate Option], as applicable. BSBY Reserve Percentage means, 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 means 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).

BSBY Rate Loan means a Revolving Loan that bears interest at a rate based on the BSBY Rate. “BSBY Screen Rate” means the Bloomberg Short-Term Bank Yield Index rate administered by Bloomberg and published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time). “Communication” means this Agreement, any Loan Document and any document, any amendment, approval, consent, information, notice, certificate, request, statement, disclosure or authorization related to any Loan Document. “Conforming Changes” means, with respect to the use, administration of or any conventions associated with BSBY or any proposed Successor Rate, as applicable, any conforming changes to the definitions of Base Rate, BSBY and Interest Period, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational matters (including, for the avoidance of doubt, the definition of Business Day, timing of borrowing requests or prepayment, conversion or continuation notices and length of lookback periods) as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption and implementation of such applicable rate, and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such rate exists, in such other manner of administration as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement and any other Loan Document). “Daily Simple SOFR” with respect to any applicable determination date means the secured overnight financing rate (“SOFR”) published on such date by the Federal Reserve Bank of New York, as the administrator of the benchmark (or a successor administrator) on the Federal Reserve Bank of New York’s website (or any successor source). “Electronic Record” and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006, as it may be amended from time to time. “Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.