Fixed Eurodollar Rate means, for any Interest Period for each Eurodollar Loan, an interest rate per annum equal to the rate of interest per annum reported, on the date two Business Days prior to the first day of such Interest Period, on Telerate Access Service Page 3750 (British Bankers Association Interest Settlement Rates) provided by Telerate Systems Incorporated (or if such Page shall cease to be publicly available, as reported by Reuters or any other publicly available source of similar market data selected by the Agent) as the London Interbank Offered Rate for U.S. Dollar deposits having a term comparable to such Interest Period.
Fixed Eurodollar Rate means, for the Interest Period for any Eurodollar Loan, the rate appearing on Page 3750 of the Dow Xxxxx Markets (Telerate) Service (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by the Agent from time to time for purposes of providing quotations of interest rates applicable to Dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for the offering of Dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the Fixed Eurodollar Rate for such Interest Period shall be with respect to any Eurodollar Loan for any Interest Period, the rate per annum (rounded upwards, if necessary, to the nearest 1/16 of 1%) quoted by Chase at approximately 11:00 a.m. London time (or as soon thereafter as practicable) two Business Days prior to the first day of such Interest Period for such Loan for the offering by Chase to leading banks in the London interbank market of Dollar deposits having a term comparable to such Interest Period and in an amount comparable to the principal amount of the Eurodollar Loan to be made by the Banks for such Interest Period.
Fixed Eurodollar Rate means, with respect to any Eurodollar Loan, the rate per annum (rounded upwards, if necessary, to the nearest 1/16 of 1%) quoted by Chase at approximately 11:00 a.m. London time (or as soon thereafter as practicable) two Business Days prior to the first day of the Interest Period for such Loan for the offering by Chase to leading banks in the London interbank market of Dollar deposits having a term comparable to such Interest Period and in an amount comparable to the principal amount of the Eurodollar Loan to be made by the Banks for such Interest Period.
Examples of Fixed Eurodollar Rate in a sentence
If the Company shall fail to notify the Agent and the Banks of the continuation of any Fixed Rate Advance or Fixed Eurodollar Rate Advance or of the conversion of a Fixed Rate Advance to a Eurodollar Rate Advance or vice versa within the time required by this Section, such Advance shall, on the last day of the Interest Period applicable thereto, automatically be converted into a Prime Rate Advance of the same principal amount.
Each Eurodollar Loan shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the applicable Fixed Eurodollar Rate.
Loans may be obtained and maintained, at the election of the Company and subject to the terms and conditions hereinafter set forth, as Prime Rate Advances, Fixed Rate Advances (subject, however, to Section 2.08(b)), Fixed Eurodollar Rate Advances and Floating Eurodollar Rate Advances, or any combination thereof.
If such Bank determines that it may not lawfully continue to maintain any outstanding Fixed Eurodollar Rate Advances to the end of the applicable Interest Periods, all of the affected Advances shall be automatically converted to Prime Rate Advances as of the date of such Bank's notice, and upon such conversion the Company shall indemnify such Bank in accordance with Section 2.19.
Each such Notice of Conversion shall be given by the Borrower not later than 11:00 A.M. (Charlotte, North Carolina time) (a) on the Business Day prior to the date of any proposed Conversion into Base Rate Advances or (b) on the third Business Day prior to the date of any proposed Conversion into Fixed Eurodollar Rate Advances.
More Definitions of Fixed Eurodollar Rate
Fixed Eurodollar Rate means, for any Eurodollar Loan, a rate per annum equal to the sum of (a) the quotient obtained (rounded upwards, if necessary, to the next higher 1/100 of 1%) by dividing (i) the applicable Eurodollar Interbank Rate by (ii) 1.00 minus the Eurodollar Reserve Percentage, plus (b) the Eurodollar Margin. The Fixed Eurodollar Rate shall be adjusted automatically on and as of the effective date of any change in the Eurodollar Reserve Percentage or the Eurodollar Margin. The following example will illustrate the calculation of a Fixed Eurodollar Rate. Assuming an Interbank Offered Rate for a one month Interest Period of 5.375%, a Eurodollar Reserve Percentage of 0%, and a Eurodollar Margin of .200 of 1%, the Fixed Eurodollar Rate would equal: .05375 ---------- + .00200 = .005575 = 5.58% 1.00 - 0
Fixed Eurodollar Rate. With respect to each Interest Period --------------------- applicable to a Eurodollar Rate Advance, the average offered rate for deposits in United States dollars (rounded upward, if necessary, to the nearest 1/16 of 1%) for delivery of such deposits on the first day of such Interest Period, for the number of days in such Interest Period, which appears on the Telerate page 3750 as of 11:00 AM, London time (or such other time as of which such rate appears) two Eurodollar Business Days prior to the first day of such Interest Period, or the rate for such deposits determined by the Bank at such time based on such other published service of general application as shall be selected by the Bank for such purpose; provided, that in lieu of determining the rate in the foregoing manner, the Bank may determine the rate based on rates at which United States dollar deposits are offered to the Bank in the interbank Eurodollar market at such time for delivery in Immediately Available Funds on the first day of such Interest Period in an amount
Fixed Eurodollar Rate. With respect to each Interest Period --------------------- applicable to a Eurodollar Rate Advance, the average offered rate for deposits in United States dollars (rounded upward, if necessary, to the nearest 1/16 of 1%) for delivery of such deposits on the first day of such Interest Period, for the number of days in such Interest Period, which appears on the Telerate page 3750 as of 11:00 AM, London time (or such other time as of
Fixed Eurodollar Rate means the offered quotation, if any, to first-class banks in the Eurodollar market by the Agent for Dollar deposits of amounts in funds comparable to the principal amount of the Eurodollar Loan to which such Fixed Eurodollar Rate is to be applicable with maturities comparable to the Interest Period for which such Fixed Eurodollar Rate will apply as of approximately 10:00 a.m. (Houston time) two Business Days prior to the commencement of such Interest Period.
Fixed Eurodollar Rate means the arithmetic average of the interest rates at which deposits of Dollars approximately equal in principal amount to the Eurodollar Loan and for a maturity comparable to the applicable Interest Period are offered in immediately available funds to the Agent by leading banks in the interbank market selected by the Agent for such deposits at approximately 11:00 a.m. (London time), or as soon thereafter as is practicable, two Business Days prior to the commencement of the Interest Period. "Eurodollar Statutory Reserves" shall mean, on any date, a fraction, the numerator of which is one and the denominator of which is one minus the maximum reserve percentages (including without limitation, basic, supplemental, marginal and emergency reserves) expressed by the Federal Reserve Board and any other banking authority to which the Agent is subject with respect to "Eurocurrency liabilities" as currently defined in Regulation D, or under any similar or successor regulation with respect to Eurocurrency liabilities or Eurocurrency funding. The Adjusted Eurodollar Rate shall be adjusted automatically on and as of the effective date of each change in Eurodollar Statutory Reserves. Each determination by the Agent of any Adjusted Eurodollar Rate and of Eurodollar Statutory Reserves and Taxes shall be conclusive and binding on the Borrower and the Banks absent manifest error. The Banks and the Borrower acknowledge that the Agent may from time to time determine the Fixed Eurodollar Rate from quotations of the Agent's money desk or by reference to Xxxxxx Screen or similar quotations, in the discretion of the Agent, on and as of the date of determination.
Fixed Eurodollar Rate means, with respect to any Eurodollar Loan, the rate per annum (rounded upwards, if necessary, to the nearest 1/16 of 1%) quoted by the Lender at approximately 11:00 a.m. London time (or as soon thereafter as practicable) two Business Days prior to the first day of the Interest Period for such Loan for the offering by the Lender to leading lenders in the London interbank market of Dollar deposits having a term comparable to such Interest Period and in an amount comparable to the principal amount of the Eurodollar Loan to be made by the Lender for such Interest Period.
Fixed Eurodollar Rate means, for any day, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on the Bloomberg Eurorate (or, if not available, any other nationally recognized trading screen reporting on-line trading with Eurorates) at 10:00 a.m. (Central Standard time) as the Eurorates for deposits in dollars on that day for the period equal to or next greater than the Interest Period. In the event such rate ceases to be published, Fixed Eurodollar Rate shall mean a comparable rate of interest reasonably selected by Lender.