Competitive Bid LIBOR Loan definition

Competitive Bid LIBOR Loan means a loan made or to be made by a Bank pursuant to a LIBOR Auction (including such a loan bearing interest at the Base Rate pursuant to Section 8.01(a)).

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Competitive Bid LIBOR Loan means a loan to be made by a Lender pursuant to a LIBOR Auction (including such a loan bearing interest at the Base Rate pursuant to Section 8.01).

Competitive Bid LIBOR Loan means a loan made or to be made by a Bank pursuant to a LIBOR Auction (including any such loan bearing interest at the Base Rate pursuant to Section 8.01).

Examples of Competitive Bid LIBOR Loan in a sentence

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 amount of such loss or expense shall be determined, in the applicable Lender’s reasonable discretion, based upon the assumption that such Lender funded its Revolving Credit Commitment Percentage of the LIBOR Rate Loans or its portion of the Competitive Bid LIBOR Loan, as applicable, in the London interbank market and using any reasonable attribution or averaging methods which such Lender deems appropriate and practical.
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.
If the reduction of the Aggregate Commitment requires the repayment of any LIBOR Rate Loan or Competitive Bid LIBOR Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 hereof.
Subject to Article III, the unpaid principal amount of each Competitive Bid LIBOR Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the sum of the Eurodollar Rate for such Interest Period (determined in accordance with Section 2.07(c) as if the related Competitive Bid LIBOR Borrowing were a Eurodollar Borrowing) plus (or minus) the Competitive Bid Margin quoted by the Lender making such Loan.
Subject to the provisions of this Section, the unpaid principal amount of each Competitive Bid LIBOR Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the sum of the LIBOR Rate for such Interest Period (determined as if the related Competitive Bid LIBOR Loan were a LIBOR Rate Loan) plus (or minus) the Competitive Bid Margin quoted by the Lender making such Loan.
Subject to ARTICLE III, the unpaid principal amount of each Competitive Bid LIBOR Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the sum of the Eurodollar Rate for such Interest Period (determined in accordance with SECTION 2.07(c) as if the related Competitive Bid LIBOR Borrowing were a Eurodollar Borrowing) plus (or minus) the Competitive Bid Margin quoted by the Lender making such Loan.
Subject to ARTICLE III, the unpaid principal amount of each Competitive Bid LIBOR Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the sum of the Eurodollar Rate for such Interest Period (determined in accordance with SECTION 2.06(C) as if the related Competitive Bid LIBOR Borrowing were a Eurodollar Borrowing) plus (or minus) the Competitive Bid Margin quoted by the Lender making such Loan.
The “Type” of a Loan refers to the determination whether such Loan is a Euro-Dollar Loan, a Base Rate Loan, a Competitive Bid Absolute Rate Loan or a Competitive Bid LIBOR Loan, each of which constitutes a “Type”.

More Definitions of Competitive Bid LIBOR Loan

Competitive Bid LIBOR Loan means a Competitive Bid Loan made by a Lender pursuant to a LIBOR Auction (including such a Loan bearing interest at the Base Rate pursuant to ARTICLE III).

Competitive Bid LIBOR Loan means a loan made or to be made by a Bank pursuant to a LIBOR Auction (including such a loan bearing interest at the Base Rate pursuant to Section 8.01(a)). “Competitive Bid Loan” means a Competitive Bid LIBOR Loan or a Competitive Bid Absolute Rate Loan. “Competitive Bid Margin” has the meaning set forth in Section 2.03(d). “Competitive Bid Quote” means an offer by a Bank to make a Competitive Bid Loan in accordance with Section 2.03. “Consolidated Debt” means, at any date, the Debt of the Company and its Restricted Subsidiaries, as consolidated and determined as of such date in accordance with GAAP. “Consolidated Funded Debt” means, at any date, the Funded Debt of the Company and its Restricted Subsidiaries, as consolidated and determined as of such date in accordance with GAAP. “Consolidated Subsidiary” means, as to any Person, at any date any Subsidiary or other entity the accounts of which would be consolidated with those of such Person in its consolidated financial statements if such statements were prepared as of such date. “Debt” of any Person means, at any date, without duplication, (i) all obligations of such Person for borrowed money, (ii) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person to pay the deferred purchase price of property or services, except trade accounts payable arising in the ordinary course of business, (iv) all obligations of such Person as lessee which are capitalized in accordance with GAAP, (v) all non-contingent obligations of such Person to reimburse any bank or other Person in respect of amounts paid under a letter of credit or similar instrument, (vi) all Debt secured by a Lien on any asset of such Person, whether or not such Debt is otherwise an obligation of such Person, and (vii) all Guarantees by such Person of Debt of another Person (each such Guarantee to constitute Debt in an amount equal to the amount of such other Person’s Debt Guaranteed thereby). “Default” means any condition or event which constitutes an Event of Default or which with the giving of notice or lapse of time or both would, unless cured or waived, become an Event of Default. 3