Eurodollar Rate Segment definition
Examples of Eurodollar Rate Segment in a sentence
Any prepayment, whether of a Base Rate Segment or a Eurodollar Rate Segment, shall be made at a prepayment price equal to (i) the amount of principal to be prepaid, plus (ii) all accrued and unpaid interest on the amount so prepaid, to the date of prepayment.
Any prepayment, whether a Base Rate Segment or a Eurodollar Rate Segment, shall be made at a prepayment price equal to (i) the amount of principal to be prepaid, plus (ii) all accrued and unpaid interest on the amount so prepaid, to the date of prepayment.
For the purposes of the same Act, the annual rate of interest equivalent to the Eurodollar Rate is calculated by dividing the amount of the interest calculated for the applicable Interest Period by the amount of the Eurodollar Rate Segment, multiplied by a fraction whose numerator is equal to the true number of days included in the twelve (12) months making up the applicable year and whose denominator is equal to the true number of days accumulated during the applicable Interest Period.
If the Agent does not receive a notice of election of duration of an Interest Period or to convert an outstanding Eurodollar Rate Segment by the time prescribed above, the Borrower shall be deemed to have elected to convert such Eurodollar Rate Segment to a Base Rate Segment on the last day of the Interest Period for such Eurodollar Rate Segment.
If the Agent does not receive an Interest Rate Selection Notice giving notice of election of the duration of an Interest Period or of Conversion of any Segment to or Continuation of a Segment as a Eurodollar Rate Segment by the time prescribed by SECTION 2.11, the Borrower shall be deemed to have elected to Convert such Segment to (or Continue such Segment as) a Base Rate Segment until the Borrower notifies the Agent in accordance with SECTION 2.11.
The applicable Eurodollar Rate for any Eurodollar Rate Segment shall be that Eurodollar Rate available for the entire Interest Period for such Eurodollar Rate Segment, which Interest Period has been designated by the Authorized Representative in the Request for Advance/Interest Rate Election and delivered to the Agent pursuant to either Sections 3.2 or 3.8 hereof.
If the Agent does not receive an Interest Rate Selection Notice giving notice of election of the duration of an Interest Period or of Conversion of any Segment to or Continuation of a Segment as a Eurodollar Rate Segment by the time prescribed by Section 2.9 hereof, the Borrower shall be deemed to have elected to Convert such Segment to (or Continue such Segment as) a Base Rate Segment until the Borrower notifies the Agent in accordance with Section 2.9 hereof.
No such prepayment shall result in the payment of any Eurodollar Rate Segment other than on the last day of the Interest Period of such Segment unless such prepayment is accompanied by amounts due, if any, under Section 6.5 hereof.
No such prepayment shall result in the payment of any Eurodollar Rate Segment other than on the last day of the Interest Period of such Segment unless such prepayment is accompanied by amounts due, if any, under SECTION 6.5.
The principal amount of each Segment of the Term B Loans outstanding from time to time shall bear interest at an interest rate per annum equal to the applicable Base Rate in effect from time to time or, at the applicable Facility Borrower's election, the applicable Eurodollar Rate from time to time; PROVIDED, HOWEVER, that each Eurodollar Rate Segment shall be in the minimum amount of US $500,000 and if greater, an integral multiple of US $100,000.