Eurodollar Interest Rate definition

Eurodollar Interest Rate. For any Interest Period, an interest rate per annum, expressed as a percentage, determined by the Bank pursuant to the following formula: *EIR = LIBOR + 2.0 ------------- [1.00 - RR] Where EIR = Eurodollar Interest Rate LIBOR = See definition of LIBOR RR = Reserve Rate *EIR and each component thereof to be rounded upwards to the next higher 1/8th of 1%

Eurodollar Interest Rate means, with respect to each Eurodollar Funded Amount for any Eurodollar Interest Period, a rate per annum (rounded upwards, if necessary, to the nearest integral multiple of the number of decimal points displayed on Telerate Page 3750, or any successor or similar service, or if neither such Telerate Page 3750 nor any successor or similar service is available and such rate is determined using Reference Lenders, one one-hundredth of one percent (1/100%)), equal to (i) the average of the offered quotations appearing on Telerate Page 3750 (or if such Telerate Page shall not be available, any successor or similar service as may be selected by the Agents and the Lessee) as of 11:00 a.m., London time (or as soon thereafter as practicable), two (2) Eurodollar Business Days prior to the beginning of such Eurodollar Interest Period, and (ii) if neither such Telerate Page 3750 nor any successor or similar service is available, then the quotient of (x) the arithmetic average of the quotation by each Reference Lender (notified to the Administrative Agent by such Reference Lender) of the rate of interest per annum at which deposits in Dollars in immediately available funds are offered to such Reference Lender two (2) Eurodollar Business Days prior to the beginning of such Eurodollar Interest Period by prime banks in the interbank Eurodollar market as at or about 9:00 a.m., Chicago time, for delivery on the first day of such Eurodollar Interest Period, in each case for a period equal to such Eurodollar Interest Period and in an amount equal to the proposed Eurodollar Funded Amount of such Reference Lender to which such Eurodollar Interest Period relates, divided by (y) the remainder of one (1) minus the decimal equivalent of the applicable Eurocurrency Reserve Percentage. If on any occasion any Reference Lender is unable, or for any reason fails, so to notify the Administrative Agent by 10:00 a.m., Chicago time, two (2) Eurodollar Business Days before the first day of such Eurodollar Interest Period, the applicable Eurodollar Interest Rate shall be determined on the basis of each quotation furnished by those of the Reference Lenders which so notify the Administrative Agent at or prior to said 10:00 a.m.

Eurodollar Interest Rate means a rate per annum equal to LIBOR plus one and one-half percent (1.50%).

Examples of Eurodollar Interest Rate in a sentence

• The rate of interest payable on any LIBOR Loan will be the Eurodollar Interest Rate applicable thereto.

• As soon as practicable after 11:00 a.m. (New York time) on the Eurodollar Interest Rate Determination Date, Lender shall determine (which determination shall, absent manifest error, be presumptively correct) the interest rate which is then being determined for the applicable Eurodollar Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

• Eurodollar Interest Rate Determination.(a) Methods to Determine Eurodollar Rate.

• As soon as practicable after 11:00 a.m. (Los Angeles, California time) on the Eurodollar Interest Rate Determination Date, the Lender shall determine (which determination shall, absent manifest error, be presumptively correct) the Interest Rate for the Eurodollar Rate Loans for which an Interest Rate is then being determined and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower.

• As soon as practicable after 2:00 p.m. (Philadelphia, Pennsylvania time) on any Eurodollar Interest Rate Determination Date, the Lender shall determine (which determination shall, absent manifest error, be rebuttably presumed correct) the interest rate which shall apply to the Eurodollar Rate Loans for which an interest rate is then being determined for the applicable Eurodollar Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower.

More Definitions of Eurodollar Interest Rate

Eurodollar Interest Rate shall have the meaning set forth in Section 2.05(b).

Eurodollar Interest Rate shall have the meaning set forth in Section ------------------------ 2.05(b).

Eurodollar Interest Rate. LEASE," "LESSEE," "LOAN AGREEMENT," "MATERIAL SUBSIDIARY," "PARTICIPATION AGREEMENT," "RSN," "TOTAL INTEREST EXPENSE" and "TRANSOK GUARANTOR" are amended and restated to read as follows:

Eurodollar Interest Rate means, for each Eurodollar Loan, for any applicable Eurodollar Interest Period, the quotient of (x) the rate of interest per annum determined by the Bank to be the prevailing rate at which deposits in United States Dollars are offered to the Bank by banks in the interbank Eurodollar market in which it regularly participates (rounded upward, if necessary, to the next highest 1/100 of 1%)on or about 10:00 a.m. (Boston, Massachusetts time) two Business Days before the first day of the applicable Eurodollar Interest Period, in an amount approximately equal to the principal amount of such Eurodollar Loan for the period of time approximately equal to the applicable Eurodollar Interest Period, divided by (y) one minus the Eurocurrency Reserve Requirement, if any, for such Interest Period.

Eurodollar Interest Rate. For any Interest Period, an interest rate per annum, expressed as a percentage, determined by the Bank pursuant to the following formula: *EIR = LIBOR + ERI [1.00 - RR] Where EIR = Eurodollar Interest Rate LIBOR = See definition of LIBOR RR = Reserve Rate ERI = Eurodollar Rate Increment *EIR and each component thereof to be rounded upwards to the next higher 1/16th of 1% "Eurodollar Rate Increment" - One and one-half percent (1.5%) per annum.

Eurodollar Interest Rate. RSN," "SHAREHOLDER'S EQUITY," "TRANSFER," and "UNUSED ASSET TRANSFER ALLOWANCE" in Section 1.1 of the Credit Agreement are respectively amended and restated in their entirety to read as follows:

Eurodollar Interest Rate. Eurodollar Rate Increment", "Floating Rate", "Floating Rate Loan", "Impositions", "Interest Payment Date", "Interest Period", "LIBOR", "LIBOR Loan", "London", "Other Acceptable Foreign Receivables" and "Reserve Rate".