Eurocurrency Rate Option definition

Eurocurrency Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2.3(a).

Eurocurrency Rate Option has the meaning specified therefor in Section 2.20(a) of this Agreement.

Eurocurrency Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 2(iv) [Australian Dollar Loans].

Examples of Eurocurrency Rate Option in a sentence

• If the Borrower provides any Borrowing Request related to a Loan at the Eurocurrency Rate Option, Term SOFR Rate Option, or on and after the Term RFR Transition Date with respect to any Alternative Currency, the Term RFR Option for such Alternative Currency, but fails to identify an Interest Period therefor, such Borrowing Request shall be deemed to request an Interest Period of one (1) month.

• In the case of the renewal of a Eurocurrency Rate Option at the end of an Interest Period, the first day of the new Interest Period shall be the last day of the preceding Interest Period, without duplication in payment of interest for such day.

• If the Borrowers provide any Loan Request related to a Loan at the Eurocurrency Rate Option, Term SOFR Rate Option, or on and after the Term RFR Transition Date with respect to any Optional Currency, the Term RFR Option for such Optional Currency, but fails to identify an Interest Period therefor, such Loan Request shall be deemed to request an Interest Period of one (1) month.

• Interest on Loans to which the Eurocurrency Rate Option applies shall be due and payable on the last day of each Interest Period for those Loans and, if such Interest Period is longer than three (3) Months, also on the 90th day of such Interest Period.

• In accordance with Section 5.10 [Indemnity], the Borrower shall indemnify the Lenders for any loss or expense, including loss of margin, incurred with respect to any such prepayments applied against Loans subject to a Eurocurrency Rate Option on any day other than the last day of the applicable Interest Period.

• If the Borrower fails to select a new Interest Period to apply to any Borrowing Tranche of Loans in Dollars under the Eurocurrency Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with the provisions of Section 4.2 [Interest Periods], the Borrower shall be deemed to have an Interest Period of one (1) month, commencing upon the last day of the existing Interest Period.

• At any time when the Borrowers shall select, convert to or renew a Eurocurrency Rate Option, the Borrowers shall notify the Administrative Agent thereof by delivering a Loan Request (i) at least three (3) Business Days prior to the effective date of such Eurocurrency Rate Option with respect to a Loan denominated in Dollars, and (ii) at least four (4) Business Days prior to the effective date of the selection or renewal of the Interest Rate Option applicable to an Optional Currency Loan.

• If the Borrower provides any Loan Request related to a Loan at the Eurocurrency Rate Option but fails to identify an Interest Period therefor, such Loan Request shall be deemed to request an Interest Period of one (1) month.

• All prepayments required pursuant to this Section 5.3 shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to the Base Rate Option, then to Loans subject to a Eurocurrency Rate Option.

• All prepayments required pursuant to this Section 5.7 [Mandatory Prepayments] shall first be applied among the Interest Rate Options to the principal amount of the Loans (including Swing Loans) subject to the Base Rate Option, then to Loans denominated in Dollars subject to a Eurocurrency Rate Option, then to Optional Currency Loans.

More Definitions of Eurocurrency Rate Option

Eurocurrency Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 4.1.1(iv) [Revolving Credit Eurocurrency Rate Option]. Event of Default shall mean any of the events described in Section 9.1 [Events of Default]. Exchange Act shall mean the United States Exchange Act of 1934. Excluded Capital Stock shall have the meaning specified in the Guarantee and Collateral Agreement. Excluded Deposit Account shall mean (i) a deposit account that contains customer monies for remittance to taxing authorities to pay tax obligations of such customers and similar trust, escrow or deposit accounts for the benefit of persons other than the Borrower or any Subsidiary thereof so long as, in each case, such account is segregated from the concentration and operating accounts of the Borrower and its Subsidiaries and contains no funds of the Borrower or any Subsidiary thereof, (ii) any deposit account that is used solely for payment of taxes, payroll, bonuses, other compensation and related expenses, in each case, for employees or former employees, (iii) fiduciary or trust accounts, (iv) any deposit account so long as the amount deposited therein does not exceed $250,000 individually, or deposit accounts so long as the aggregate amount on deposit therein, together with all other accounts of the Loan Parties that are not subject to a deposit account control agreement in favor of the Administrative Agent, does not exceed $2,000,000 for all such accounts; provided, that if any time the aggregate amount on deposit in the other accounts of the Loan Parties that are not subject to a deposit account control agreement exceeds $250,000 individually, or $2,000,000 in the aggregate, the relevant Loan Parties shall promptly comply with Section 8.1.11 of the Agreement in respect of such deposit accounts as are sufficient to cause such threshold not to be exceeded upon the effectiveness of any deposit account control agreement(s) entered into pursuant to this proviso and (v) any zero-balance account that sweeps on a daily basis.

Eurocurrency Rate Option means the option of the Borrower to have Loans bear interest at therate and under the terms specified in Section 4.1.1(ii)(c) [Revolving Credit Eurocurrency Rate Option]."

Eurocurrency Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms

Eurocurrency Rate Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2.08(a)(i)(B). “Eurocurrency Reserve Percentage” means, for any day during any Interest Period, the reserve percentage in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the Board for determining the maximum reserve requirement (including any emergency, special, supplemental or other marginal reserve requirement) with respect to eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D) or any other reserve ratio or analogous requirement of any central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Loans.