Contract Rate Loan definition

Contract Rate Loan means any Advance bearing interest at Term SOFR, the BA Rate or an Alternative Currency Term Rate.
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Contract Rate Loan means any Advance bearing interest at the Eurocurrency Rate or the BA Rate.
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Contract Rate Loan means any Advance bearing interest at Term SOFR, the BA Rate or an Alternative Currency Term Rate. “Contractual Obligations” means, with respect to any Person, any security issued by such Person or any document or undertaking (other than a Loan Document) to which such Person is a party or by which it or any of its property is bound or to which any of its property is subject. “Convert,” “Conversion” and “Converted” each refers to a conversion of Advances of one Type into Advances of another Type pursuant to Section 2.02 or 2.09. “Copyrights” has the meaning specified in the applicable Security Agreements. “Cost” means the lower of cost or market value of Inventory, based upon the Loan Parties’ accounting practices, known to the Agent, which practices are in effect on the Restatement Date, with such changes as permitted by GAAP, as such calculated cost is determined from invoices received by the Loan Parties, the Loan Parties’ purchase journals or the Loan Parties’ stock ledger. “Co-Sustainability Coordinators” means BofA Securities, Inc. and Sumitomo Mitsui Banking Corporation. “Covenant Trigger” shall have the meaning specified in Section 7.03(b). “Covenant Trigger Date” shall have the meaning specified in Section 7.03(b). “Covered Party” has the meaning specified in Section 10.24(a). “Credit Card Issuer” means any person (other than a Borrower or other Loan Party) who issues or whose members issue credit cards, including, without limitation, MasterCard or VISA bank credit or debit cards or other bank credit or debit cards issued through MasterCard International, Inc., Visa, U.S.A., Inc. or Visa International and American Express, Discover, Diners Club, Xxxxx Xxxxxxx, Barclays and other issuers approved by the Agent (such approval not to be unreasonably withheld).
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Examples of Contract Rate Loan in a sentence

  • Any prepayment of a Contract Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 10.04(b).

  • The Borrowers only may make an Interest Election Request for any proposed Contract Rate Loan of at least $1,000,000 or Cdn$1,000,000, as applicable.

  • Borrower may not repay any LIBOR Rate Loan or convert all or any portion of a LIBOR Rate Loan to a Contract Rate Loan prior to the expiration of the applicable Interest Period, unless (i) such repayment or conversion is specifically required by the terms of the Note, (ii) Bank demands that such repayment or conversion be made, or (iii) Bank, in its sole discretion, consents to such repayment or conversion.

  • If the required Interest Notice shall not have been timely received by Bank or fails to designate all or a portion of the unpaid principal amount hereof as either a Contract Rate Loan or a LIBOR Rate Loan in accordance with the terms and provisions of this Agreement, Borrower shall be deemed conclusively to have designated such amounts to be a Contract Rate Loan and to have given Bank notice of such designation.

  • Additionally, upon termination of any Interest Period, Borrower shall have the right to convert all or a portion of such principal amount from a LIBOR Rate Loan to a Contract Rate Loan by giving Bank an Interest Notice of such election at least three (3) Business Days prior to the effective date of such exercise.

  • If the required Interest Notice shall not have been timely received by Agent or fails to designate all or a portion of the unpaid principal amount hereof as either a Contract Rate Loan or a LIBOR Rate Loan in accordance with the terms and provisions of this Agreement, Borrower shall be deemed conclusively to have designated such amounts to be a Contract Rate Loan and to have given Agent notice of such designation.

  • Borrower may not repay any LIBOR Rate Loan or convert all or any portion of a LIBOR Rate Loan to a Contract Rate Loan prior to the expiration of the applicable Interest Period, unless (i) such repayment or conversion is specifically required by the terms of the Notes, (ii) a Lender demands that such repayment or conversion be made, or (iii) Agent, in its sole discretion, consents to such repayment or conversion.

  • Borrowers may request a Contract Rate Loan by notifying the Bank, before 11:00 a.m. (Dallas, Texas time) on the proposed borrowing date, of its intention to borrow, specifying the effective date and amount of such proposed Contract Rate Loan.

  • Borrowers will pay interest on the unpaid principal amount of each Contract Rate Loan made to Borrowers for each day from the day such Loan was made until such Loan is paid (whether at maturity, by reason of acceleration or otherwise), or is converted to a Loan of a different Type, at a rate per annum equal to the lesser of (A) the Maximum Rate, or (B) the Contract Rate, payable monthly in arrears on each Interest Payment Date and on the Termination Date.

  • Additionally, upon termination of any Interest Period, Borrower shall have the right, on any Business Day, to convert all or a portion of such principal amount from the LIBOR Rate Loan to a Contract Rate Loan by giving Agent an Interest Notice of such selection at least three (3) Business Days prior to the effective date of such exercise.


More Definitions of Contract Rate Loan

Contract Rate Loan means any Advance bearing interest at Term SOFR, the BA RateTerm CORRA or an Alternative Currency Term Rate.
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Contract Rate Loan means a Revolving Loan bearing interest at the time in question determined with reference to the Contract Rate.
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Related to Contract Rate Loan

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

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

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

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

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • Bid Rate Loan means a loan made by a Lender under Section 2.2.

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

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

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

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

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

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

  • Absolute Rate Loan means a Bid Loan that bears interest at a rate determined with reference to an Absolute Rate.

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

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

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

  • Floating Rate Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the Floating Rate.

  • 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).

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).