Fixed Rate Competitive Loans definition

Fixed Rate Competitive Loans. Competitive Loans the rate of interest applicable to which is equal to a fixed percentage rate per annum specified by the Competitive Loan Lender making such Loan in its Competitive Loan Offer (as opposed to a rate composed of the Applicable Index Rate plus or minus a margin).
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Fixed Rate Competitive Loans. The terms set forth above and on the reverse side hereof are hereby agreed to: Accepted:(1) , as Assignor THE CHASE MANHATTAN BANK, as agent ------------------------------ By: By: -------------------------- ------------------------------- Name: Name: Title: Title: , as Assignee [Name of Borrower] ------------------------------ By: By: -------------------------- ------------------------------ Name: Name: Title: Title: BORROWING SUBSIDIARY AGREEMENT dated as of , 19 , among MANOR CARE, INC., a Delaware corporation (the "Company"), [Names of the other Borrowers](the foregoing corporations being collectively called the "Borrowe s"), [Name of Subsidiary], a [ ] corporation (the "Subsidiary"), the guarantors whose names appear at the foot of the Credit Agreement referred to below (the "Guarantors", which term shall also include the Borrowers), the Required Lenders (as defined in the Credit Agreement referred to below), NationsBank, N.A., as Co-agent (the "Co-Agent") and THE CHASE MANHATTAN BANK, a New York banking corporation, as agent (the "Agent") for the lenders (the "Lenders") party to the Amended and Restated Competitive Advance and Multi-Currency Revolving Credit Facility Agreement dated as of November 30, 1994, as amended and restated as of September 6, 1996 (the "Credit Agreement"), among the Borrowers, the Co-agent, the Agent and the Lenders. Under the Credit Agreement, the Lenders have agreed, upon the terms and subject to the conditions therein set forth, to make Loans to the Borrowers and to subsidiaries (as defined in the Credit Agreement) of the Company which execute and deliver to the Agent Borrowing Subsidiary Agreements in the form of this Agreement. The Company represents that the Subsidiary is a subsidiary (as so defined) of the Company. The Company covenants and agrees with each Lender that the Company shall, so long as this Agreement shall remain in effect, directly or indirectly maintain the Subsidiary as a subsidiary (as so defined) of the Company. The parties hereto agree that the guarantee of the Company contained in Article IX of the Credit Agreement applies to the obligations of the Subsidiary. In consideration of being permitted to borrow under the Credit Agreement upon the terms and subject to the conditions set forth therein, the Subsidiary agrees that from and after the date of this Agreement it will be, and will be liable for the observance and performance of all the obligations of, a Borrowing Subsidiary under the Credit Agreemen...
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Fixed Rate Competitive Loans. The terms set forth above and on the reverse side hereof are hereby agreed to: Accepted:
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Examples of Fixed Rate Competitive Loans in a sentence

  • The Borrower may solicit Competitive Bids by delivery of a Competitive Bid Loan Request to the Administrative Agent by 10:00 a.m. on a Business Day not less than (x) in the case of Fixed Rate Competitive Loans not made in a Foreign Currency, three Business Days and (y) in the case of Eurocurrency Competitive Loans and Fixed Rate Competitive Loans made in a Foreign Currency, five Business Days prior to the date of a requested Competitive Bid Loan.

  • Subject to the terms and conditions of this Agreement, the Company may borrow Competitive Loans from time to time during the Competitive Loan Borrowing Period on any Business Day (in the case of Fixed Rate Competitive Loans) or Working Day (in the case of Index Rate Competitive Loans), provided that in no event may Competitive Loans exceed the Credit Availability Amount on the Borrowing Date, after giving effect to the use and application of the proceeds thereof.

  • In the case of Fixed Rate Competitive Loans, insert a fixed rate bid.

  • Not later than, in the case of Eurocurrency Competitive Loans, 10:30 a.m. (Eastern time) three (3) Business Days prior to the requested Drawdown Date and, in the case of Fixed Rate Competitive Loans, 10:30 a.m. (Eastern time) on the requested Drawdown Date, the Co-Borrowers shall notify the Administrative Agent of the Co-Borrowers' acceptance or non-acceptance of the offers of which it was notified pursuant to the preceding ss.


More Definitions of Fixed Rate Competitive Loans

Fixed Rate Competitive Loans. The terms set forth above and on the reverse side hereof are hereby agreed to: Accepted: ____________________________, as Assignor THE CHASE MANHATTAN BANK, as agent
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Related to Fixed Rate Competitive Loans

  • Eurodollar Competitive Loan means any Competitive Loan bearing interest at a rate determined by reference to the LIBO Rate in accordance with the provisions of Article II.

  • Competitive Loan means a Loan made pursuant to Section 2.04.

  • Base Rate Committed Loan means a Committed Loan that is a Base Rate Loan.

  • Eurodollar Rate Committed Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of “Eurodollar Rate.”

  • Competitive Loan Exposure means, with respect to any Lender at any time, the aggregate principal amount of the outstanding Competitive Loans of such Lender.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Competitive Borrowing means a Borrowing consisting of a Competitive Loan or concurrent Competitive Loans from the Lender or Lenders whose Competitive Bids for such Borrowing have been accepted by the Borrower under the bidding procedure described in Section 2.03.

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Money Market Absolute Rate Loan means a loan to be made by a Bank pursuant to an Absolute Rate Auction.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Bid Loan has the meaning specified in Section 2.03(a).

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • Absolute Rate Loan means a Bid Rate Loan, the interest rate on which is determined on the basis of an Absolute Rate pursuant to an Absolute Rate Auction.

  • Competitive Bid Advance means an advance by a Lender to the Borrower as part of a Competitive Bid Borrowing resulting from the competitive bidding procedure described in Section 2.03 and refers to a Fixed Rate Advance or a LIBO Rate Advance.

  • Competitive Bid Borrowing means a borrowing consisting of simultaneous Competitive Bid Advances from each of the Lenders whose offer to make one or more Competitive Bid Advances as part of such borrowing has been accepted under the competitive bidding procedure described in Section 2.07.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Alternative Currency Term Rate Loan means a Loan that bears interest at a rate based on the definition of “Alternative Currency Term Rate.” All Alternative Currency Term Rate Loans must be denominated in an Alternative Currency.

  • Committed Loans means loans made pursuant to Section 2.1(a).

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Eurocurrency Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Competitive Bid Loan means a Eurodollar Bid Rate Loan or an Absolute Rate Loan, or both, as the case may be.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.