Daily Compounded XXXXX Loan means a Loan that bears interest at a rate based on Adjusted Daily Compounded XXXXX.
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”.
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.
Examples of Daily Compounded XXXXX Loan in a sentence
Interest on each Daily Compounded XXXXX Loan shall be computed on the basis of the actual number of days elapsed divided by 365 or 366, as applicable.
In the event of any conversion of any Daily Compounded XXXXX Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion.
The Administrative Agent shall record therein the amount of each Prime Rate Loan, US Base Rate Loan, Daily Compounded XXXXX Loan, Term XXXXX Loan, Term SOFR Rate Loan, Revolving BA Liability and LC Liability, and shall enter therein each payment of principal and interest on the said Revolving Loans and all other amounts paid by the Borrower and becoming due under this Agreement.
Subject to the terms and conditions contained herein, in the case of Term XXXXX Loans, two (2) Business Days after receipt by the Agent of such request from the Borrower and in the case of Daily Compounded XXXXX Loans, three (3) Business Days after receipt by the Agent of such request from the Borrower, such Term XXXXX Loan or Daily Compounded XXXXX Loan, as applicable, shall be made.
The Borrower shall pay to the Agent on behalf of each Lender interest on each Daily Compounded XXXXX Loan owed to such Lender in Canadian Dollars at the Agent’s Account for Payments at the rate, expressed on the basis of a 365 day year, equal to the sum of Adjusted Daily Compounded XXXXX plus the Applicable Pricing Margin.
More Definitions of Daily Compounded XXXXX Loan
Daily Compounded XXXXX Loan means an Advance in Canadian Dollars which bears interest at a rate based on Adjusted Daily Compounded XXXXX.
Daily Compounded XXXXX Loan means any Loan made hereunder that bears interest at a rate based on Adjusted Daily Compounded XXXXX. (76) (72) “Daily Rental Borrowers” means, collectively, Motus Car Rental, LP. 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. (77) (73) “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% (78) (74) “Daily Rental Borrowing Base Certificate” means a borrowing base certificate substantially in the form attached as Schedule 1.1(7478) signed a Responsible Officer of Master Borrower. (79) (75) “Daily Rental Facility” has the meaning given to it in Section 2.5(1). (80) (76) “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 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. (81) (77) “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. (82) (78) “Daily Rental Loans” means Loans made under the Daily Rental Facility.
Daily Compounded XXXXX Loan means an Advance made pursuant to this Agreement that bears interest at a rate based on Adjusted Daily Compounded XXXXX.
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
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
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.
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):