BSBY Rate Option definition

BSBY Rate Option. A rate per annum (computed on the basis of a year of 360 days and actual days elapsed) equal to the BSBY Rate as determined for each applicable Yield Period; or
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BSBY Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 3.01(a)(ii).
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BSBY Rate Option means the option of the Seller to have Capital accrue Yield at the rate and under the terms specified in Section 2.05(a)(ii).
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Examples of BSBY Rate Option in a sentence

  • At any time when the Borrower shall select, convert to or renew a BSBY Rate Option, the Borrower shall notify the Administrative Agent thereof at least three (3) Business Days prior to the effective date of such BSBY Rate Option by delivering a Loan Request.

  • In the case of the renewal of a BSBY Rate Option at the end of an Interest Period, the first day of the new Interest Period shall be the last day of the preceding Interest Period, without duplication in payment of interest for such day.

  • If the Borrower provides any Loan Request related to a Loan at the BSBY Rate Option but fails to identify an Interest Period therefor, such Loan Request shall be deemed to request an Interest Period of one (1) month.

  • If the Borrower fails to select a new Interest Period to apply to any Borrowing Tranche of Loans under the BSBY Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with the provisions of Section 4.2 [Interest Periods], the Borrower shall be deemed to have converted such Borrowing Tranche to the Base Rate Option, as applicable to Revolving Credit Loans commencing upon the last day of the existing Interest Period.

  • At any time when the Seller shall select, convert to or renew a BSBY Rate Option, the Seller shall notify the Administrator thereof at least three (3) Business Days prior to the effective date of such BSBY Rate Option by delivering an Investment Notice.

  • If the Borrower fails to select a new Interest Period to apply to any Borrowing Tranche of Loans under the BSBY Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with the provisions of Section 2.04, the Borrower shall be deemed to have converted such Borrowing Tranche to the Daily BSBY Floating Rate commencing upon the last day of the existing Interest Period.

  • Here Maldonado acted as corporate counsel during a period of time when his licensed had lapsed.

  • In the case of the renewal of a BSBY Rate Option at the end of a Yield Period, the first day of the new Yield Period shall be the last day of the preceding Yield Period, without duplication in payment of yield for such day.

  • In the case of the renewal of a BSBY Rate Option at the end of a Yield Period, the first day of the new Yield Period shall be the last day of the preceding Yield Period, without duplication in payment of Discount for such day.

  • If the Seller fails to select a new Yield Period to apply to any Tranche of Investments under the BSBY Rate Option at the expiration of an existing Yield Period applicable to such Tranche in accordance with the provisions of Section 2.04, the Seller shall be deemed to have converted such Tranche to the Daily BSBY Floating Rate commencing upon the last day of the existing Yield Period.


More Definitions of BSBY Rate Option

BSBY Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(ii) [Revolving Credit BSBY Rate Option].
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BSBY Rate Option means the option of the Seller to have Capital accrue Yield at the rate and under the terms specified in Section 2.05(a)(ii). “BSBY Reserve Percentage” shall mean, as of any day, the maximum effective percentage in effect on such day, if any, as prescribed by theFederal Reserve Board for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) with respect to BSBY Screen Rate funding.
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BSBY Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(ii) [Revolving Credit BSBY Rate Option]. “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” 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). “Business Day” means any day other than a Saturday or Sunday or a legal holiday on which commercial banks are authorized or required to be closed, or are in fact closed, for business in Pittsburgh, Pennsylvania (or, if otherwise, the Lending Office of the Administrative Agent); provided that, for purposes of any direct or indirect calculation or determination of, the or when used in connection with any interest rate settings, fundings, disbursements, settlements, payments, or other dealings with respect to SOFR, the term “Business Day” means any such day that is also a U.S. Government Securities Business Day.BSBY Screen Rate, the term “Business Day” means any such day that is also a U.S. Government Securities Business Day. “Cash” means Dollars held in a Collateral Account. “Cash Collateralize” means, to pledge and deposit with or deliver to the Administrative Agent, for the benefit of one or more of the Issuing Lender or the Lenders, as collateral for Letter of Credit Obligations or obligations of Lenders to fund participations in respect
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Related to BSBY 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].

  • 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].

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

  • Rate Option means the Eurodollar Rate or the Floating Rate.

  • 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

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

  • Base Rate Term Loan means any portion of a Term Loan during any period in which such portion bears interest based on the Base Rate.

  • Daily Rate Period means any period of time during which a Group of 2024 Series A Variable Rate Bonds bears interest at the Daily Rate.

  • LIBOR Index Rate means, for any Interest Period, the rate per annum (rounded upwards, if necessary, to the next higher one hundred-thousandth of a percentage point) for deposits in U.S. Dollars for a period equal to such Interest Period, which appears on the LIBOR01 Page as of 11:00 a.m. (London, England time) on the day two (2) Business Days before the commencement of such Interest Period.

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

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

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

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

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

  • 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).

  • Weekly Rate Period means any period of time during which a Group of 2024 Series A Variable Rate Bonds bears interest at the Weekly Rate.

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

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

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

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • Base Rate Portion of any Loan or Loans shall mean at any time the portion, including the whole, of such Loan or Loans bearing interest at such time (i) under the Base Rate Option or (ii) in accordance with Section 2.09(c)(ii) hereof. If no Loan or Loans is specified, "Base Rate Portion" shall refer to the Base Rate Portion of all Loans outstanding at such time.

  • Base Rate Advance means an Advance that bears interest at a rate based upon the Base Rate.

  • Fixed Rate Period has the meaning specified in Section 2.1.

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on April 1, 2022 and ending on and including March 31, 2027 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including March 31 in the fifth year thereafter.

  • LIBOR Term Loan means any Term Loan bearing interest at a rate determined by reference to the LIBOR Rate.