Colonial Base Rate Revolver Loan definition

Colonial Base Rate Revolver Loan means any Colonial Revolver Loan that bears interest based on the Base Rate.
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Colonial Base Rate Revolver Loan any Colonial Revolver Loan that bears interest based on the Base Rate. Colonial Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the aggregate amount of Colonial Revolver Commitments, minus the LC Reserve; or (b) the Colonial Contracts Formula Amount minus the Colonial Availability Reserve, based upon information delivered by Borrowers to Collateral Agent and Agent pursuant to Section 8. Colonial Borrowing Base Certificate: a certificate, in form and substance satisfactory to Collateral Agent, by which Colonial certifies calculation of the Colonial Borrowing Base. Colonial Collateral: all Collateral provided by Colonial. Colonial Contracts Advance Rate: 50%; provided, however, that the Contracts Advance Rate shall be reduced by 0.20% for each 0.10% (or portion thereof) that the Contracts Advance Rate Adjustment Percent for the month immediately preceding the date of determination exceeds 33% (rounded to the nearest one-tenth percent); in each instance such adjustment shall be calculated as of the last day of each month and shall be effective as of the first day of the month immediately following the date of determination, based upon information delivered by Borrowers to Collateral Agent and Agent pursuant to Section 8. For example, if the Colonial Contracts Advance Rate Adjustment Percent is 33.10%, the Colonial Contracts Advance Rate shall be 49.80%; if the Colonial Contracts Advance Rate BN 6747822v16 Adjustment Percent is 33.20%, the Colonial Contracts Advance Rate is 49.60%; if the Colonial Contracts Advance Rate Adjustment Percent is 33.30%, the Colonial Contracts Advance Rate is 49.40%: if the Colonial Contracts Advance Rate Adjustment Percent is 33.40%, the Colonial Contracts Advance Rate is 49.20%; if the Colonial Contracts Advance Rate Adjustment Percent is 33.50%, the Colonial Contracts Advance Rate is 49.00% and so on.
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Colonial Base Rate Revolver Loan any Colonial Revolver Loan that bears interest based on the Base Rate. Colonial Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the aggregate amount of Colonial Revolver Commitments; or (b) the Colonial Contracts Formula Amount minus the Colonial Availability Reserve, based upon information delivered by Borrowers to Agent pursuant to Section 8. Colonial Borrowing Base Report: a report, in form and substance satisfactory to Agent, by which Colonial certifies calculation of the Colonial Borrowing Base. Colonial Collateral: all Collateral provided by Colonial.
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Examples of Colonial Base Rate Revolver Loan in a sentence

  • Upon receipt of such notice, Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of a LIBOR Loan or, failing that, will be deemed to have submitted a request for a Colonial Base Rate Revolver Loan or ACM-TCM Base Rate Revolver Loan, as applicable.

  • Upon receipt of such notice, Borrower may revoke any pending request for a LIBOR Loan or, failing that, will be deemed to have submitted a request for a Colonial Base Rate Revolver Loan or ACM-TCM Base Rate Revolver Loan, as applicable.


More Definitions of Colonial Base Rate Revolver Loan

Colonial Base Rate Revolver Loan any Colonial Revolver Loan that bears interest based on the Base Rate. Colonial Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the aggregate amount of Colonial Revolver Commitments, minus the LC Reserve; or (b) the Colonial Contracts Formula Amount minus the Colonial Availability Reserve, based upon information delivered by Borrowers to Agent pursuant to Section 8. Colonial Borrowing Base Certificate: a certificate, in form and substance satisfactory to Agent, by which Colonial certifies calculation of the Colonial Borrowing Base.
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Related to Colonial Base Rate Revolver Loan

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

  • LIBOR Revolver Loan a Revolver Loan that bears interest based on LIBOR. License: any license or agreement under which an Obligor is authorized to use Intellectual Property in connection with any manufacture, marketing, distribution or disposition of Collateral, any use of Property or any other conduct of its business.

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base 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.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Revolver Loan a loan made pursuant to Section 2.1, and any Swingline Loan, Overadvance Loan or Protective Advance.

  • Eurodollar Rate Reserve Percentage for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.

  • Alternate Base Rate Loans means Loans that bear interest at an interest rate based on the Alternate Base Rate.

  • Alternate Base Rate Loan means a Loan which bears interest at the Alternate Base Rate or the Default Rate.

  • Eurocurrency Rate Reserve Percentage for any Interest Period for all Eurocurrency Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurocurrency Rate Advances is determined) having a term equal to such Interest Period.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

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

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Eurocurrency Base Rate means, for such Interest Period:

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

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • Revolver means a short firearm having a cylinder of several chambers that are brought successively into line with the barrel to be discharged, designed to be aimed and fired by the use of a single hand.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Eurodollar Rate (Reserve Adjusted) means, with respect to any Eurodollar Loan for any Interest Period, a rate per annum (rounded upwards, if necessary, to the nearest 1/16th of 1%) determined pursuant to the following formula: Eurodollar Rate = Eurodollar Rate (Reserve Adjusted) 1-Eurocurrency Reserve Percentage.

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

  • LIBOR Rate Reserve Percentage means as of any day the maximum percentage in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including supplemental, marginal and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).

  • New Revolving Loan has the meaning specified in Section 2.14(a).

  • Canadian Base Rate means at any time, the greater of (a) the Canadian Prime Rate and (b) except during any period of time during which a notice delivered to Centuri under Section 5.8 shall remain in effect, the annual rate of interest equal to the sum of (i) the CDOR Rate for an Interest Period of one month at such time plus (ii) one percent (1%) per annum; each change in the Canadian Base Rate shall take effect simultaneously with the corresponding change or changes in the Canadian Prime Rate or the CDOR Rate, as applicable.

  • Euro-Rate Reserve Percentage means, the maximum effective percentage in effect on such day 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 eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).