Examples of Competitive Bid Absolute Rate in a sentence
The unpaid principal amount of each Competitive Bid Absolute Rate Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the Competitive Bid Absolute Rate quoted by the Lender making such Loan.
Each Competitive Bid Rate Loan subject to a Competitive Bid Absolute Rate shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a fixed rate per annum equal to the Competitive Bid Absolute Rate quoted by the Bank or Banks making such Loan in accordance with this Section.
The Administrative Agent shall promptly (and in any event within one (1) Business Day after such offers are accepted except with respect to Competitive Bid Absolute Rate Borrowings which shall be on the same day as such offers are accepted) notify the Borrower and each such Bank in writing of any such allocation of Competitive Bid Loans.
The "TYPE" of a Loan refers (i) in the case of Committed Loans, to whether such Loan is a Base Rate Loan or a Eurodollar Loan and (ii) in the case of Competitive Bid Loan, to whether such Loan is a Competitive Bid Absolute Rate Loan or a Competitive Bid LIBOR Loan.
The Administrative Agent shall promptly notify each Bank whose Competitive Bid Rate Quote or any portion thereof was accepted by the Borrower and shall specify to such Bank the amount of any Competitive Bid Rate Loan or its portion of any Competitive Bid Rate Loan, as applicable, to be made available by such Bank in accordance with Section 2.11.8 hereof, and the Competitive Bid Rate Margin or Competitive Bid Absolute Rate applicable thereto.
The Banks may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.3. The Competitive Bid Loans may be Competitive Bid Absolute Rate Loans or Competitive Bid LIBOR Loans (each a "type" of Competitive Bid Loan).
The Banks may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.3. The Competitive Bid Loans may be Competitive Bid Absolute Rate Loans or Competitive Bid LIBOR Loans (each a "Type" of Competitive Bid Loan).
The unpaid principal amount of each Competitive Bid Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the Competitive Bid Absolute Rate quoted by the Lender making such Loan or the Eurocurrency Bid Margin plus the Eurocurrency Rate quoted by the Administrative Agent, as the case may be.
Each Competitive Bid Absolute Rate Advance shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the Competitive Bid Absolute Rate quoted by the Bank making such Advance in accordance with (S)3.1(d)(ii)(D).
The Administrative Agent shall promptly notify each Bank whose Competitive Bid Rate Quote or any portion thereof was accepted by the Borrower and shall specify to such Bank the amount of any Competitive Bid Rate Loan or its portion of any Competitive Bid Rate Loan, as applicable, to be made available by such Bank in accordance with Section 2.13.8 hereof, and the Competitive Bid Rate Margin or Competitive Bid Absolute Rate applicable thereto.