Interest Rate Options definition

Interest Rate Options. Has the meaning set forth in Section 2.03(b) --------------------- hereof.

Interest Rate Options. The Borrower may elect that the Incremental Term Loan Facility comprising each borrowing bear interest at a rate per annum equal to (a) the ABR plus the Applicable Margin or (b) the Eurodollar Rate, plus the Applicable Margin. As used herein:

Interest Rate Options and shall have the right to renew elections of Interest Rate Options and convert Borrowing Tranches or Term Loan Tranches to other Interest Rate Options. Notice of the Borrower's election shall be made in accordance with Section 2.5. Elections of, conversions to or renewals of the Base Rate Option shall continue in effect until converted to the LIBOR-Rate Option. Elections of, conversions to or renewals of the LIBOR-Rate Option shall expire as to each such LIBOR-Rate Option at the expiration of the applicable LIBOR-Rate Interest Period. Any Revolving Borrowing Tranche or Term Loan Tranche outstanding for which no elections have been made shall bear interest under the Base Rate Option.

Examples of Interest Rate Options in a sentence

• All prepayments required pursuant to this Section 5.7 shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to the Base Rate Option, then to Loans subject to a LIBOR Rate Option.

• All prepayments required pursuant to this Section 5.5 shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to the Base Rate Option, then to Loans subject to a Euro-Rate Option.

• Specific reference is made to the Interest Rate Options section of the Agreement for terms governing the designation of interest periods and rate portions.

• The counterparties also carry the complete exposure on each other, with no clearinghouse standing as a guarantor for the deals.2.2.1 Interest Rate Options (IROs)‌ An IRO is an interest rate risk management product – that is, it protects the buyer from an adverse movement in interest rates.

• All prepayments required pursuant to this Section 5.6.1 [Currency Fluctuations; Application Among Interest Rate Options] shall first be applied among the Interest Rate Options to the principal amount of the Revolving Credit Loans subject to the Base Rate Option, then to Revolving Credit Loans subject to a Euro-Rate Option and then to Optional Currency Swing Loans subject to the Euro-Rate Option.

More Definitions of Interest Rate Options

Interest Rate Options. The Borrower may elect that the Loans comprising each borrowing bear interest at a rate per annum equal to:

Interest Rate Options. As defined in Section 2.3(b).

Interest Rate Options. The Borrower may elect that the Loans comprising each borrowing bear interest at a rate per annum equal to: the ABR plus the Applicable Margin; or the Adjusted LIBO Rate plus the Applicable Margin. As used herein:

Interest Rate Options. The principal amount of the loans shall bear interest at the Prime Rate or at the Adjusted LIBO Rate at the Company's option.

Interest Rate Options means the selection by Borrower of LIBOR Rate Loan or a Prime Rate Loan as set forth in Section 2.3.4 and Section 2.3.5.

Interest Rate Options. The Borrower may elect that the Loans bear interest at a rate per annum equal to:

Interest Rate Options. The Borrower may elect that the loans comprising each borrowing bear interest at a rate per annum equal to (a) the CB Floating Rate (such loans herein referred to as “CBFR Loans”) plus the Applicable Margin or (b) the Adjusted LIBO Rate (such loans herein referred to as “Eurodollar Loans”) plus the Applicable Margin; provided, that all Swing Line Loans shall bear interest at a rate per annum equal to the CBFR plus the Applicable Margin. The Applicable Margins shall initially be (a) 2.75% in the case of Eurodollar Rate Loans and (b) 1.75% in the case of CBFR Loans, in each case during the twelve (12) month period commencing on the Closing Date. The Adjusted LIBO Rate shall have a floor of 0.50% at all times. LIBOR Discontinuation: The Credit Agreement will contain provisions to be mutually agreed with respect to a replacement of the Adjusted LIBO Rate. Performance Pricing: Commencing twelve (12) months after the Closing Date, the Applicable Margins will be subject to performance pricing adjustments as set forth in the pricing grid attached hereto. Interest Payment Dates: In the case of CBFR Loans, interest shall be payable on the first calendar day following the end of each fiscal quarter (but in any event, not less frequently than cash interest payments are required to be paid under the GUC Note), upon any prepayment due to acceleration and at final maturity. In the case of Eurodollar Loans, interest shall be payable in arrears on the last day of each interest period and, in the case of an interest period longer than three months, quarterly, upon any prepayment and at final maturity. Commitment Fee: A commitment fee equal to 0.50% per annum on the average daily unused portion of the Revolving Commitment, payable quarterly in arrears to the Administrative Agent for the ratable benefit of the Lenders from the Closing Date until termination of the Revolving Commitment.