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 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.

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

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.

• 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.

• 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.

• 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.

• That Optional Currencies Are Unavailable to Fund Renewals of the Eurocurrency Rate Option.

• 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.

• All prepayments required pursuant to this Section 5.7 shall, unless the Borrowers furnish a written statement to the Administrative Agent prior to the time of such prepayment requesting a different application, first be applied to prepay Revolving Credit Loans to which the Base Rate Option applies, then to Loans denominated in Dollars to which the Eurocurrency Rate Option applies, then to Optional Currency Loans, then to Swing Loans.

• If the Borrowing Agent provides any Loan Request related to a Loan at the Eurocurrency Rate Option, BSBY 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 Loan Request shall be deemed to request an Interest Period of one (1) month.

• Each Borrowing Tranche of Loans under the Eurocurrency Rate Option shall be in integral multiples of, and not less than, the respective amounts set forth in Section 2.5.1 [Revolving Credit Loan Requests]; and 4.2.2.

More Definitions of 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 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 Borrower to have Loans bear interest at the rate and under the terms specified in Section 2(iv) [Australian Dollar Loans].