Daily Compounded XXXXX Loan definition

Daily Compounded XXXXX Loan means a Loan that bears interest at a rate based on Adjusted Daily Compounded XXXXX.
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Daily Compounded XXXXX Loan means any Loan in Canadian Dollars with respect to which interest is calculated under this Agreement for the time being on the basis of the Daily Compounded XXXXX.
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Daily Compounded XXXXX Loan means a Loan that bears interest at a rate based on Daily Compounded XXXXX, other than pursuant to clause (b) of the definition of “Canadian Prime Rate”.
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Examples of Daily Compounded XXXXX Loan in a sentence

  • The Canadian Borrower shall pay interest on each Daily Compounded XXXXX Loan outstanding during each Interest Period applicable thereto at a rate per annum, calculated on the basis of a 365 day year, equal to Adjusted Daily Compounded XXXXX with respect to such Interest Period plus the Applicable Pricing Rate.


More Definitions of Daily Compounded XXXXX Loan

Daily Compounded XXXXX Loan means any Loan in Canadian Dollars with respect to which interest is calculated under this Agreement for the time being on the basis of Adjusted Daily Compounded XXXXX. Daily Simple SOFR means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining "Daily Simple SOFR" for syndicated business loans; provided that if the Administrative Agent decides that any such convention is not administratively feasible for the 104822.00280/115572577.6305585250.30
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Daily Compounded XXXXX Loan means at any given time during the term of this Agreement the Loan, or that portion of the Loan, which the Borrower has elected, in accordance with this Agreement, to denominate in CDollars and upon which interest is payable on the basis of Adjusted Daily Compounded XXXXX. 1.1.64 “Daily Compounded XXXXX Loan Portion” – means the amount of the Daily Compounded XXXXX Loan or any portion of the Daily Compounded XXXXX Loan in respect of which the Borrower has elected an Interest Period or Interest Periods commencing on the same date and having the same duration. 1.1.65 “Daily Simple SOFR” – means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for syndicated business loans; provided, that if the Agent decides that any such convention is not administratively feasible for the Agent, then the Agent may establish another convention in its reasonable discretion. 1.1.66 “Debt” – means all indebtedness of any Obligor and includes, without duplication (in each case, whether such indebtedness is with full or limited recourse): 1.1.66.1 any obligation of any Obligor for borrowed money (other than unsecured intercompany debt); 1.1.66.2 any obligation of any Obligor evidenced by a bond, debenture, note or other similar instrument; 1.1.66.3 any obligation of any Obligor to pay the deferred purchase price of Assets or services, except a trade account payable and current liabilities that arise in the ordinary course of business; 1.1.66.4 the Capital Lease Obligations of any Obligor; 1.1.66.5 any obligation of any Obligor to reimburse any other Person in respect of amounts drawn or drawable under any letter of credit or other guarantee issued or accepted by such other Person, whether contingent or non-contingent; 1.1.66.6 all obligations of any Obligor to purchase, redeem, retire, decrease or otherwise make any payment in respect of any Capital Stock of any Obligor or any other Person; 1.1.66.7 any obligation of any Obligor to purchase securities or other Assets that arises out of or in connection with the sale of the same or substantially similar securities or Assets;
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Daily Compounded XXXXX Loan means an Advance in, or Conversion into, Canadian Dollars made by the Lenders (or any of them) to a Borrower with respect to which such Borrower has specified that interest is to be calculated at a rate based on Adjusted Daily Compounded XXXXX, and each Rollover in respect thereof.
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Daily Compounded XXXXX Loan means any Loan made hereunder that bears interest at a rate based on Adjusted Daily Compounded XXXXX. (72) (57) “Daily Rental BorrowerBorrowers” means, collectively, Motus Car Rental, LP., and its and each other Daily Rental Borrower that may be added from time to time pursuant to a Joinder Agreement, and their successors and permitted assigns, and “Daily Rental Borrower” means any one of them. (73) (58) “Daily Rental Borrowing Base” means 100% of the aggregate depreciated book value (in accordance with the below) of the applicable Borrower’s Eligible Daily Rental Leases outstanding at any time, as evidenced by the Daily Rental Lease Management Report. For the purposes of calculating such value, the minimum vehicle depreciation of the capital cost of all vehicles forming part of the Daily Rental Management Report, is based on the following schedule: Original Lease Term Rate per month Up to 12 months 1.75% 13 to 24 months 2.00% (74) (59) “Daily Rental Borrowing Base Certificate” means a borrowing base certificate substantially in the form attached as Schedule 1.1(5974) signed a Responsible Officer of Master Borrower. (75) (60) “Daily Rental Facility” has the meaning given to it in Section 2.5(1). (76) (61) “Daily Rental Lease Management Report” means a report, in form and substance satisfactory to the Administrative Agent, from Daily Rental Borrower summarizing such Borrower’s Eligible Daily Rental Leases and, in connection with any request Borrowing by such - 13 - CREDIT AGREEMENT Borrower, identifying all Eligible Daily Rental Leases including, for each such rental, unit description, VIN (serial) number, term, depreciated book value, depreciation rate, and depreciation amount. (77) (62) “Daily Rental Limit” means the aggregate amount of the Commitments of the Lenders from time to time under the Daily Rental Facility which on the Closing Date is $25,000,000. (78) (63) “Daily Rental Loans” means Loans made under the Daily Rental Facility. (79) (64) “Dealer Trade” means a vehicle financed under the Wholesale Flooring Facility that is purchased and sold between Wholesale Flooring Borrowers or between a Wholesale Flooring Borrower and a third party arm’s length dealer. (80) (65) “Debt” means, without duplication, in respect of any Person: (a) all debts and liabilities of the Person for borrowed money; (b) all Contingent Obligations of the Person; (c) any obligation, contingent or other, which is required to be classified in accordance with GAAP upon the Person...
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Daily Compounded XXXXX Loan means a Loan that bears interest at a rate based on Adjusted Daily Compounded XXXXX. “Debtor Relief Laws” means the Bankruptcy Code of the United States of America, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States of America or other applicable jurisdictions from time to time in effect. “Default” means any event or condition the occurrence of which would, with the passage of time or the giving of notice, or both, constitute an Event of Default. “Default Rights” is defined in Section 12.30 hereof. “Defaulting Lender” means, subject to Section 1.16(b) hereof, any Lender that (a) has failed to (i) fund all or any portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Xxxxxx’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, each L/C Issuer, the Swingline Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swingline Loans) within two (2) Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent or any L/C Issuer or the Swingline Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Xxxxxx’s obligation to fund a Loan hereunder and states that such position is based on such Xxxxxx’s good faith determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three (3) Business Days after written
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Daily Compounded XXXXX Loan means any Loan in Cdn.$ with respect to which interest is calculated under this Agreement for the time being on the basis of Adjusted Daily Compounded XXXXX.
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Related to Daily Compounded XXXXX Loan

  • Compounded Daily SONIA means, with respect to an Interest Accrual Period, the rate of return of a daily compound interest investment (with the daily SONIA reference rate as reference rate for the calculation of interest) and will be calculated by the Calculation Agent (or such other party responsible for the calculation of the interest rate, as specified in the applicable Pricing Supplement) on the relevant Interest Determination Date, as follows, and the resulting percentage will be rounded if necessary to the fourth decimal place, with 0.00005 per cent being rounded upwards:

  • SONIA Compounded IndexStart means, with respect to an Interest Accrual Period, the SONIA Compounded Index determined in relation to the day falling the Relevant Number of London Banking Days prior to the first day of such Interest Accrual Period; and

  • Compounded SOFR means the compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for this rate, and conventions for this rate (which may include compounding in arrears with a lookback and/or suspension period as a mechanism to determine the interest amount payable prior to the end of each Interest Period) being established by the Administrative Agent in accordance with:

  • SONIA Compounded IndexEnd means the SONIA Compounded Index Value on the date falling “p” London Business Days prior to (i) in respect of an Interest Accrual Period, the Interest Payment Date for such Interest Accrual Period, or (ii) if the Notes become due and payable prior to the end of an Interest Accrual Period, the date on which the Notes become so due and payable; and

  • SONIA Compounded Index means the index known as the SONIA Compounded Index administered by the Bank of England (or any successor administrator thereof);

  • Required Rate means (a) 5.50%, with respect to the Cutoff Date and any Distribution Date on or prior to the date on which the Class A-2-B Notes are paid in full, or, (b) 5.00%, with respect to any Distribution Date after the Class A-2-B Notes are paid in full, or, in each case, such other percentage approved by the Rating Agencies.

  • Term SOFR Rate means, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator.