Fed Funds Rate Loan definition
Examples of Fed Funds Rate Loan in a sentence
No Effective Fed Funds Rate Loan shall be converted into a Eurodollar Loan if an Event of Default or Potential Default has occurred and is continuing on the date of the conversion requested by the Company.
If the Company shall fail to give notice as provided above, the Company shall be deemed to have elected to convert the affected Eurodollar Loan to an Effective Fed Funds Rate Loan on the last day of the relevant Interest Period.
If such notice is given: (1) any Tranche A Committed Loan or Tranche B Loan that was to have been converted to a Eurodollar Loan shall be continued as an Effective Fed Funds Rate Loan, and (2) any outstanding Eurodollar Loan shall be converted, on the last day of the then current Interest Period with respect thereto, to an Effective Fed Funds Rate Loan.
Subject to the prepayment requirements of Paragraph 7(f) below and the conversion and continuation provisions of Paragraph 6(c) below, the Company shall pay the principal amount of each Tranche A Committed Loan being maintained as a Eurodollar Loan on the last day of the applicable Interest Period and shall pay the principal amount of each Tranche A Committed Loan being maintained as an Effective Fed Funds Rate Loan on the Maturity Date.
Subject to the prepayment requirements of Paragraph 7(f) below and the conversion and continuation provisions of Paragraph 6(c) below, the Company shall pay the principal amount of each Tranche B Loan being maintained as a Eurodollar Loan on the last day of the applicable Interest Period and shall pay the principal amount of each Tranche B Loan being maintained as an Effective Fed Funds Rate Loan on the Maturity Date.
A Fed Funds Rate Loan shall bear interest at the Fed Funds Rate, fully floating, plus the applicable Rating Level Margin for each Interest Period set forth on Schedule I.
Each Fed Funds Rate Loan shall bear interest (computed on the basis of a year of 365/366 days and actual days elapsed) on the principal amount thereof from the date such Loan is made until maturity (whether by acceleration, upon prepayment or otherwise) at a rate per annum equal to the sum of the Applicable Margin and the Fixed Fed Funds Rate from time to time in effect, billable on the last day of each month.
The Company may from time to time prepay any Prime Rate Loan or Fed Funds Rate Loan in whole or in part without premium or penalty.
Subject to the prepayment requirements of Paragraph 5(f) below and the conversion and continuation provisions of Paragraph 4(c) below, the Company shall pay the principal amount of each Gestation Loan being maintained as a Eurodollar Loan on the last day of the applicable Interest Period and shall pay the principal amount of each Gestation Loan being maintained as an Effective Fed Funds Rate Loan on or before the Maturity Date.
If such notice is given: (1) any Standard Loan and Gestation Loan that was to have been converted to a Eurodollar Loan shall be continued as an Effective Fed Funds Rate Loan, and (2) any outstanding Eurodollar Loan shall be converted, on the last day of the then current Interest Period with respect thereto, to an Effective Fed Funds Rate Loan.