BSBY Rate Option definition

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. 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 Seller to have Investments accrue Yield at the rate and under the terms specified in Section 2.03(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.

  • The initiative had long-term development impact in terms of establishing and maintaining professional as well as institutional contacts; providing participants with credits towards professional certification; and strengthening institutional capacity in each of the participating institutions.

  • 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 3.02, the Borrower shall be deemed to have converted such Borrowing Tranche to the Daily BSBY Floating Rate 755287315 21689858 commencing upon the last day of the existing Interest Period.

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

  • If at any time the Administrative Agent makes a determination under Section 4.4(a) [Unascertainable; Increased Costs] and the Borrower has previously notified 264461831the Administrative Agent of its selection of, conversion to or renewal of a BSBY Rate Option and the BSBY Rate Option has not yet gone into effect, such notification shall be deemed to provide for selection of, conversion to or renewal of the Base Rate Option otherwise available with respect to such Loans.

  • Except as provided in Section 4.4(c) [Administrative Agent’s and Lender’s Rights], if the Borrower prepays a Loan but 264461831 fails to specify the applicable Borrowing Tranche which the Borrower is prepaying, the prepayment shall be applied (1) first to Loans to which the Base Rate Option applies, then to Loans to which the BSBY Rate Option applies.

  • If the Borrower provides any Loan Request related to a Loan at the BSBY Rate Option but fails to identify an Interest Period 755287315 21689858 therefor, such Loan Request shall be deemed to request an Interest Period of one (1) month.


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]. “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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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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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].

  • 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

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

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

  • Daily Rate Period means any period of time during which a Group of 2023 Series B 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 2021 Series J 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 (a) under the Base Rate Option or (b) in accordance with Section 4.05(b)(ii)(A) 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 as provided in Section 2.06(a)(i).

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on July 1, 2020 and ending on and including June 30, 2025 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 June 30 in the fifth year thereafter.