Eurocurrency Offered Rate definition

Eurocurrency Offered Rate with respect to any Interest Period of any ------------ ------- ----- Eurocurrency Loan denominated in an Optional Currency, the rate per annum determined by the Administrative Agent at which deposits in the relevant Optional Currency for such Interest Period are offered, based on the offered rates appearing on Page 3750 of the Telerate Service (or any successor or substitute page of such service) as of 11:00 a.m. (London time) two (2) Business Days prior to the beginning of such Interest Period; provided that, if for any reason the Telerate quotation is unavailable, then the Eurocurrency Offered Rate shall be the rate per annum determined by the Administrative Agent at which deposits in the relevant Optional Currency for such Interest Period are offered, based on the information appearing on Reuters Page "LIBO" (or any successor or substitute page of such service) as of 11:00 a.m. (London time) two (2) Business Days prior to the beginning of such Interest Period; and, if for any reason both the Telerate and the Reuters quotations are unavailable, then the Eurocurrency Offered Rate shall be the rate per annum (rounded upwards to the nearest 1/16 of one percent) equal to the rate at which the Administrative Agent is offered deposits in the relevant Optional Currency, at or about 11:00 a.m. (London time) two (2) Business Days prior to the beginning of such Interest Period, in the Eurocurrency Interbank Market where the foreign currency and exchange operations or eurocurrency funding operations of the Administrative Agent are customarily conducted, for delivery on the first day of such Interest Period, for the number of days comprised therein and in an amount equal (as nearly as may be) to the amount of the Eurocurrency Loan to which such Interest Period applies.
Sample 1
Eurocurrency Offered Rate. With respect to the Interest Period of any Eurocurrency Rate Loan, the annual rate of interest determined by the Agent at or about 10:00 A.M. (Boston time) (or as soon thereafter as practicable) two (2) Business Days preceding the first day of such Interest Period, as being the average of the rates of interest per annum at which deposits in the currency of such Eurocurrency Rate Loan are offered to each of the respective lending offices of each of the Reference Banks by prime banks in the Eurocurrency Interbank Market selected by such Reference Bank in its sole discretion acting in good faith for such Interest Period, at the time of the determination and in accordance with the usual practice in such market, for delivery on the first day of such Interest Period in immediately available funds and having a maturity equal to such Interest Period and for the number of days comprised therein, in an amount equal (as nearly as may be) to such Reference Bank's Commitment Percentage of such Eurocurrency Rate Loan.
Sample 1Sample 2
Eurocurrency Offered Rate. With respect to the Interest Period of any Eurocurrency Rate Advance, the annual rate of interest determined by the Agent at or about 10:00 A.M. (in the jurisdiction in which the Eurocurrency Rate Loan is requested) (or as soon thereafter as practicable) two (2) Business Days preceding the first day of such Interest Period, as being the average of the rates of interest per annum at which deposits in the currency of such Eurocurrency Rate Loan are offered to the lending office of the Reference Bank by prime banks in the Eurocurrency Interbank Market selected by the Reference Bank in its sole discretion acting in good faith for such Interest Period, at the time of the determination and in accordance with the usual practice in such market, for delivery on the first day of such Interest Period in immediately available funds and having a maturity equal to such Interest Period and for the number of days comprised therein, in an amount equal (as nearly as may be) to such Reference Bank's Commitment Percentage of such Eurocurrency Rate Loan.
Sample 1Sample 2

Examples of Eurocurrency Offered Rate in a sentence

  • With respect to all Eurocurrency Rate Loans denominated in Dollars for any Interest Period, the annual rate of interest, rounded to the nearest 1/100 of 1%, determined by the Agent for such Interest Period in accordance with the following formula: Eurocurrency Rate = Eurocurrency Offered Rate ------------------------------ 1 - Eurocurrency Reserve Rate Eurocurrency Rate Loan(s).

  • With respect to all Eurocurrency Rate Loans for any Interest Period, the annual rate of interest, rounded to the nearest 1/100 of 1%, determined by the Agent for such Interest Period in accordance with the following formula: Eurocurrency Rate = Eurocurrency Offered Rate 1 - Eurocurrency Reserve Rate Eurocurrency Rate Loan(s).

  • The rate per annum, rounded upwards to the nearest 1/16 ----------------- of 1%, determined by the Agent with respect to an Interest Period, in accordance with the following formula: Eurocurrency Rate = Eurocurrency Offered Rate ------------------------- 1-Reserve Rate Event of Default.

  • With respect to all Multicurrency Loans for any ----------------- Interest Period, the annual rate of interest, rounded to the nearest 1/16th of 1%, determined by the Foreign Agent for such Interest Period in accordance with the following formula: Eurocurrency Rate = Eurocurrency Offered Rate ----------------------------- 1 - Eurocurrency Reserve Rate Eurocurrency Reserve Rate.


More Definitions of Eurocurrency Offered Rate

Eurocurrency Offered Rate. Eurodollar Rate", "Fronted Loans", "Fronting Bank", "Fronting Loan Event", "International Eurocurrency Rate", "Limited Forbearance Period", "Multicurrency Loans", "OC Notice", "Optional Currency", "participating 5 -5-
Sample 1
Eurocurrency Offered Rate means, with respect to any Interest Period, the rate per annum determined by the Agent at or about 11:00 a.m. London time, on the Rate-Fixing Day with respect to the Interest Period in question, as being that rate at which deposits in Dollars, or in such Optional Currency in which the portion of the principal of the Eurocurrency Advances or, as the case may be, Eurocurrency Loans to be made, are offered to the Agent, by prime banks in whatever Eurocurrency interbank market may be selected by the Agent in its sole discretion, acting in good faith, at the time of determination and in accordance with the usual practice in such market, for delivery on the first day of the Interest Period in immediately available funds and having a maturity equal to such Interest Period in an amount equal (as nearly as may be) to the Eurocurrency Advances or Eurocurrency Loans to be outstanding for such Interest Period.
Sample 1
Eurocurrency Offered Rate. With respect to the Interest Period for any Eurocurrency Rate Loan denominated in a currency other than Dollars, the rate per annum (rounded upwards to the nearest 1/16 of one percent) equal to the rate at which the Reference Bank is offered deposits in Dollars or the relevant Optional Currency, as the case may be, two (2) Business Days prior to the beginning of such Interest Period in the Eurocurrency Interbank Market where the foreign currency and exchange operations or eurocurrency funding operations of the Agent are customarily conducted at or about 10:00 a.m. (London time) for delivery on the first day of such Interest Period and for the number of days comprised therein and in an amount equal (as nearly as may be) to the Reference Bank's Commitment Percentage of such Eurocurrency Rate Loan to which such Interest Period applies.
Sample 1

Related to Eurocurrency Offered Rate

  • Eurodollar when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate.

  • Eurocurrency Interest Period means with respect to any Eurocurrency Rate Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, to the extent agreed to by the Agent and each Lender making such Eurocurrency Rate Borrowing, twelve months or any shorter period) thereafter, as a Borrower may elect; provided that (a) if any Eurocurrency Interest Period would end on a day other than a Business Day, such Eurocurrency Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Eurocurrency Interest Period shall end on the next preceding Business Day, (b) any Eurocurrency Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Eurocurrency Interest Period) shall end on the last Business Day of the last calendar month of such Eurocurrency Interest Period and (c) no Eurocurrency Interest Period for any (i) Eurocurrency Rate Revolving Loan shall end after the latest Scheduled Termination Date for the applicable Revolving Commitments under the applicable Revolving Facility or (ii) Eurocurrency Rate Term Loans shall end after the stated maturity date of such Term Loans.

  • Eurocurrency when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

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

  • Adjusted London Interbank Offered Rate applicable to any Interest Period means a rate per annum equal to the quotient obtained (rounded upward, if necessary, to the next higher 1/100 of 1%) by dividing (i) the applicable London Interbank Offered Rate by (ii) 1.00 minus the Euro-Dollar Reserve Percentage.

  • Eurocurrency Tranche the collective reference to Eurocurrency Loans under a particular Facility the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

  • 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).

  • LIBOR has the meaning specified in the definition of Eurodollar Rate.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Eurodollar Market means a regular established market located outside the United States of America by and among banks for the solicitation, offer and acceptance of Dollar deposits in such banks.

  • Eurocurrency Base Rate means, with respect to a Eurocurrency Rate Advance for the relevant Interest Period:

  • Eurocurrency Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Eurocurrency Rate Reserve Percentage for any Interest Period for all Eurocurrency Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurocurrency Rate Advances is determined) having a term equal to such Interest Period.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • USD-LIBOR-BBA As defined in the Swap Agreement in the Annex to the 2000 ISDA Definitions.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

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

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(ii).

  • Interbank Offered Rate means, for any Eurodollar Loan for any Interest Period therefor, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on Reuters Screen LIBO Page as the London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period; provided, however, if more than one rate is specified on Reuters Screen LIBO Page, the applicable rate shall be the arithmetic mean of all such rates (rounded upwards, if necessary, to the nearest 1/100 of 1%).

  • London Interbank Offered Rate has the meaning set forth in Section 2.07(b).

  • Eurocurrency Reserve Percentage means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The Eurocurrency Rate for each outstanding Eurocurrency Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurocurrency Reserve Percentage.

  • Money Market LIBOR Loan means a loan denominated in US Dollars to be made by a Lender pursuant to a LIBOR Auction (including such a loan bearing interest at the Base Rate pursuant to Section 3.2).

  • Eurocurrency Loans Loans the rate of interest applicable to which is based upon the Eurocurrency Rate.

  • 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).

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.