Euro Rate Loans definition
Examples of Euro Rate Loans in a sentence
More than one Borrowing may occur on the same date, but at no time shall there be outstanding more than 15 Borrowings of Euro Rate Loans.
More than one Borrowing may occur on the same date, but at no time shall there be outstanding more than (x) fifteen (15) Borrowings of Euro Rate Loans in the aggregate and (y) more than five (5) Borrowings of B/A Equivalent Loans.
Interest shall be payable by Borrower to Agent (i) in the case of Canadian Prime Rate Loans and U.S. Base Rate Loans, quarterly in arrears on the last Business Day of each Fiscal Quarter and (ii) in the case of CDOR Rate Loans and Euro Rate Loans, on the last day of each Interest Period (and in the case of an Interest Period of greater than three (3) months, on the last day of each three (3) month period during such Interest Period and on the last day of such Interest Period).
The amount of such loss or expense shall be determined, in the applicable Lender’s sole discretion, based upon the assumption that such Lender funded its Commitment of the CDOR Rate Loans or Euro Rate Loans in the London or Canadian interbank market and using any reasonable attribution or averaging methods which such Lender deems appropriate and practical.
In connection therewith, the respective Incremental Term Loan Borrower may agree, in the respective Incremental Term Loan Commitment Agreement, to compensate the Lenders making the new Incremental Term Loans of the respective Tranche for funding Euro Rate Loans or CDOR Rate Loans during an existing Interest Period on such basis as may be agreed by such Incremental Term Loan Borrower and the respective Lender or Lenders.
More than one Borrowing may occur on the same date, but at no time shall there be outstanding more than thirty Borrowings of Euro Rate Loans and CDOR Rate Loans in the aggregate.
The amount of such loss or expense shall be determined, in the applicable Lender’s sole discretion, based upon the assumption that such Lender funded its Commitment of the Euro Rate Loans in the London interbank market or CDOR Rate Loans in the Canadian Dollar bankers’ acceptances market, as applicable, and using any reasonable attribution or averaging methods which such Lender deems appropriate and practical.
Upon each Interest Determination Date, the Administrative Agent shall determine the interest rate for the Euro Rate Loans for which such determination is being made and shall promptly notify the respective Borrower and the respective Lenders thereof.
Interest on the outstanding principal portion of the Revolving Loans shall be payable, (x) in the case of Prime Rate Loans, monthly, in arrears on the first Business Day of each month and (y) in the case of Euro Rate Loans, at the end of each LIBOR Period or, for Euro Rate Loans with a LIBOR Period in excess of three months, at the earlier of (a) each three months from the commencement of such Euro Rate Loan or (b) the end of the LIBOR Period.
Borrower may at any time prepay any Advances in whole or in part without premium or penalty (other than as set forth in Item 33 of the Schedule and expressly provided for in Section 2.8 hereof with respect to Euro Rate Loans repaid prior to the end of any applicable LIBOR Interest Period, if any) and amounts so prepaid may be reborrowed.