Interest Rate Option Notice definition

Interest Rate Option Notice. A notice given by the Borrower to the Agent of the Borrower's election to convert Loans to a different type or continue Loans as the same type, in accordance with Section 1.04(a).
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Interest Rate Option Notice. See Section 2.5.
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Interest Rate Option Notice. See Section 2.5. Issuing Bank: BankBoston, N.A. or any successor issuing bank of Letters of Credit.
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Examples of Interest Rate Option Notice in a sentence

  • Base Rate Loans shall be deemed to continue as such until receipt of an Interest Rate Option Notice requesting conversion thereof to LIBOR Loans.

  • The Agent shall promptly notify the Lenders of such Interest Rate Option Notice and the information contained therein.

  • Each Interest Rate Option Notice shall be substantially in the form of Schedule 1.04(d) and shall specify: (i) the aggregate principal amount of Loans to be continued or converted; (ii) the proposed date thereof; (iii) the Interest Period for such LIBOR Loans; and (iv) whether such Loans shall be LIBOR Loans or Prime Rate Loans.

  • The Administrative Agent shall promptly notify the Lenders of such Interest Rate Option Notice and the information contained therein.

  • Prime Rate Loans shall be deemed to continue as such until receipt of an Interest Rate Option Notice requesting conversion thereof to LIBOR Loans.

  • Each Interest Rate Option Notice shall be substantially in the form of Schedule 1.06(c) and shall specify: (i) the aggregate principal amount of Loans to be continued or converted, and whether such Loans are Initial Term Loans, Incremental Term Loans or Tranche D Term Loans; (ii) the proposed date thereof; (iii) the LIBOR Period for such LIBOR Loans; and (iv) whether such Loans shall be LIBOR Loans or Base Rate Loans.

  • If at the time the Lender so notifies the Borrowers, the Borrowers have previously given the Lender a Loan Request or Interest Rate Option Notice with respect to one or more Eurodollar Loans but such Loan or Loans have not yet gone into effect, such notification by the Borrowers shall be deemed to be void and the Loan or Loans shall bear interest at the rate then applicable to Base Rate Loans.

  • The resulting amount shall be divided by 360 and multiplied by the number of days remaining in the term chosen pursuant to the Borrowing Notice or Interest Rate Option Notice, as applicable, on as to which the prepayment is made.

  • Said amount shall be reduced to present value calculated by using the above referenced United States Treasury securities rate and the number of days remaining in the term chosen pursuant to the Borrowing Notice or Interest Rate Option Notice, as applicable, as to which prepayment is made.

  • The Borrower may continue any LIBOR Loans as such upon the expiration of the related LIBOR Period by providing to the Agent an Interest Rate Option Notice in compliance with the notice provisions set forth in Section 1.06(a); provided that no LIBOR Loans may be continued when any Default has occurred and is continuing, but shall be automatically converted to Base Rate Loans on the last day of the first applicable LIBOR Period which ends during the continuance of such Default.


More Definitions of Interest Rate Option Notice

Interest Rate Option Notice see Section 1.6.
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Interest Rate Option Notice a notice in form acceptable to the Co-Agent given by all of the Borrowers jointly to the Co-Agent (with a copy to the Agent) of the Borrowers' election to convert Loans to a different type or continue Loans as the same type, in accordance with SECTION 2.06(B).
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Interest Rate Option Notice has the meaning described in Section 2.5.
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Related to Interest Rate Option Notice

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • LIBOR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(ii) [Revolving Credit LIBOR Rate Option].

  • Notice of Interest Rate Election has the meaning set forth in Section 2.10.

  • Base Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(i) [Revolving Credit Base Rate Option].

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • Rate Option means the Eurocurrency Rate or the Floating Rate, as applicable.

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Euro-Rate Option shall have the meaning set forth in Section 2.04(a)(ii) hereof.

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on July 1, 2020 and ending on and including June 30, 2025 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including June 30 in the fifth year thereafter.

  • Initial Rate of Interest means the initial rate of interest per annum specified as such in the relevant Final Terms;

  • Initial Rate Period means, with respect to the VMTP Shares of any Series, the period commencing on and including the Date of Original Issue thereof and ending on, and including, the next succeeding calendar day that is a Wednesday (or if such Wednesday is not a Business Day, the next succeeding Business Day).

  • Discounted Prepayment Option Notice has the meaning specified in Section 2.05(d)(ii).

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Initial Fixed Rate Period means the period commencing on the Issue Date and ending on and including June 30, 2020.

  • LIBOR Option has the meaning specified therefor in Section 2.12(a) of the Agreement.

  • Conversion to Fixed Interest Rate With respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan is not a Convertible Mortgage Loan;

  • Optional Redemption Notice shall have the meaning set forth in Section 6(a).

  • LIBOR Notice means a written notice in the form of Exhibit L-1.

  • Optional Redemption Notice Date shall have the meaning set forth in Section 6(a).

  • Special Rate Period with respect to the VRDP Shares, has the meaning specified in paragraph (a) of Section 4 of Part I of the Articles Supplementary.

  • Interest Rate Cap means a Cap.

  • Fixed Rate Term means a period commencing on a Business Day and continuing for 1, 2, 3 or 6 months, as designated by Borrower, during which all or a portion of the outstanding principal balance of this Note bears interest determined in relation to LIBOR; provided however, that no Fixed Rate Term may be selected for a principal amount less than One Hundred Thousand Dollars ($100,000.00); and provided further, that no Fixed Rate Term shall extend beyond the scheduled maturity date hereof. If any Fixed Rate Term would end on a day which is not a Business Day, then such Fixed Rate Term shall be extended to the next succeeding Business Day.

  • Initial Rate Cap With respect to each Adjustable Rate Mortgage Loan and the initial Adjustment Date therefor, a number of percentage points per annum that is set forth in the Mortgage Loan Schedule and in the related Mortgage Note, which is the maximum amount by which the Mortgage Interest Rate for such Adjustable Rate Mortgage Loan may increase or decrease from the Mortgage Interest Rate in effect immediately prior to such Adjustment Date.

  • Interest Option means LIBOR or the Reference Rate.

  • SOFR Rate Day has the meaning specified in the definition of “Daily Simple SOFR”.

  • Fixed Rate Calculation Date means, for any Subsequent Fixed Rate Period, the 30th day prior to the first day of such Subsequent Fixed Rate Period.