Eurodollar Daily Floating Rate definition
Eurodollar Daily Floating Rate means, for any day, the daily fluctuating rate per annum equal to the Adjusted LIBO Rate for a one month interest period. Any change in the Eurodollar Daily Floating Rate due to a change in the LIBO Rate shall be effective from and including the effective date of such change in the LIBO Rate.
Eurodollar Daily Floating Rate means, for all Eurodollar Rate Loans, on each day any such Loan is outstanding, the fluctuating rate of interest equal to LIBOR, as published by Reuters (or other commercially available source providing quotations of LIBOR as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, on each day (or, if such day is not a Business Day, on the immediately preceding Business Day) any such Loan is outstanding, for Dollar deposits with a term equivalent to a one month interest period. If such rate is not available at such time for any reason, then the “Eurodollar Daily Floating Rate” shall be the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery in same day funds in the approximate amount of the Eurodollar Rate Loans being made or converted and with a term equivalent to a one-month interest period would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time), on each day (or, if such day is not a Business Day, on the immediately preceding Business Day) any such Loan is outstanding.
Eurodollar Daily Floating Rate means, for any day, a fluctuating rate of interest equal to the Eurodollar Rate with an Interest Period of one month.
Examples of Eurodollar Daily Floating Rate in a sentence
In accordance with Section 2.04(b), the Borrower may elect for a Swingline Loan to bear interest at either (a) the Alternate Base Rate plus the Applicable Rate or (b) the Eurodollar Daily Floating Rate plus the Applicable Rate.
Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day), amount of the requested Swingline Loan, and whether such Swingline Loan will accrue interest based on the Alternate Base Rate or the Eurodollar Daily Floating Rate.
The applicable Alternate Base Rate, Adjusted LIBO Rate and Eurodollar Daily Floating Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
Except as provided in Section 2.03(c), each Borrowing of or conversion to a Eurodollar Daily Floating Rate Loan or a Base Rate Loan shall be in a principal amount of $50,000 or a whole multiple of $10,000 in excess thereof.
Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of or conversion to Eurodollar Daily Floating Rate Loan or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.
More Definitions of Eurodollar Daily Floating Rate
Eurodollar Daily Floating Rate means, for any day, the fluctuating rate of interest equal to the Eurodollar Rate (for a one month Interest Period commencing on such day), as adjusted on a daily basis for as long as the Swingline Loan to which such rate relates is outstanding and as adjusted from time to time in the Administrative Agent’s sole discretion for then-applicable reserve requirements, deposits insurance assessment rates and other regulatory costs.
Eurodollar Daily Floating Rate means the fluctuating rate of interest equal to the rate of interest per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on Telerate Page 3750 (or any successor page) as the one month London interbank offered rate for deposits in Dollars at approximately 11:00 A.M. (London time) on the second preceding Business Day, as adjusted from time to time in Bank's sole discretion for then applicable reserve requirements, deposit insurance assessment rates and other regulatory costs. If for any reason such rate is not available, the term "Eurodollar Daily Floating Rate" shall mean the fluctuating rate of interest equal to the rate of interest per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on Reuters Screen LIBO Page as the one month London interbank offered rate for deposits in Dollars at approximately 11:00 A.M. (London time) on the second preceding Business Day, as adjusted from time to time in Bank's sole discretion for then applicable reserve requirements, deposit insurance assessment rates and other regulatory costs; provided, however, if more than one rate is specified on Telerate Page 3750 or on Reuters Screen LIBO Page, the applicable rate shall be the arithmetic mean of all rates on that page. Interest hereunder shall be calculated based upon a 360 day year and actual days elapsed. The interest rate required hereby shall not exceed the maximum rate permissible under applicable law, and
Eurodollar Daily Floating Rate means the fluctuating rate of interest equal to the fluctuating rate of interest (rounded upwards, if necessary to the nearest 1/100 of 1%) appearing on Telerate Page 3750 (or any successor page) as the one month London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) on the second preceding Business Day, as adjusted from time to time in Bank's sole discretion for then applicable reserve requirements, deposit insurance assessment rates and other regulatory costs. If for any reason such rate is not available, the term "Eurodollar Daily Floating Rate" shall mean the fluctuating rate of interest equal to the month rate of interest (rounded upwards, if necessary to the nearest 1/100 of 1%) appearing on Reuters Screen LIBO Page as the one month London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) on the second preceding Business Day, as adjusted from time to time in Bank's sole discretion for then applicable reserve requirements, deposit insurance assessment rates and other regulatory costs; provided, however, if more then one rate is specified on Reuters Screen LIBO Page, the applicable rate shall be the arithmetic mean of all such rates.
Eurodollar Daily Floating Rate means the fluctuating rate of interest equal to the month rate of interest (rounded upwards, if necessary to the nearest 1/100 of 1%) appearing on Reuters Screen LIBO Page as the one month London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) on the second preceding Business Day, as adjusted from time to time in Bank's sole discretion for then applicable reserve requirements, deposit insurance assessment rates and other regulatory costs; provided, however, if more then one rate is specified on Reuters Screen LIBO Page, the applicable rate shall be the arithmetic mean of all such rates.
Eurodollar Daily Floating Rate means, for any day for any Eurodollar Daily Floating Rate Loan, a rate per annum determined by the Lender to be equal to the quotient obtained by dividing (a) the Eurodollar Daily Floating Base Rate for such Eurodollar Daily Floating Rate Loan by (b) one minus the Eurodollar Reserve Percentage for such Eurodollar Daily Floating Rate Loan.
Eurodollar Daily Floating Rate means, for all Eurodollar Rate Loans, on each day any such Loan is outstanding, the fluctuating rate of interest equal to LIBOR, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m. (London time), two (2) Business Days prior to the date in question, for Dollar deposits with a term equivalent to a one month interest period beginning on that date; provided that to the extent a comparable or successor rate is approved by the Administrative Agent in connection herewith, including under Section 3.6.1, the approved rate shall be applied in a manner consistent with market practice and provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent and if the Eurodollar Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.
Eurodollar Daily Floating Rate means, on any date, the rate per annum equal to (i) LIBOR, at approximately 11:00 a.m., London time determined two London Banking Days prior to such date for Dollar deposits being delivered in the London interbank market for a term of one month commencing that day or (ii) if such published rate is not available at such time for any reason, the rate per annum determined by Bank to be the rate at which deposits in Dollars for delivery on the date of determination in same day funds in the approximate amount of the Eurodollar Daily Floating Rate being made or maintained and with a term equal to one month would be offered by Bank’s London Branch to major banks in the London interbank eurodollar market at their request at the date and time of determination.