Offered Rate Option definition

Offered Rate Option means the rate of interest quoted from time to time by the Administrative Agent to the Borrower and accepted by the Borrower with respect to a Swing Loan.
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Offered Rate Option means the rate of interest quoted from time to time by PNC Bank to the Borrower and accepted by the Borrower with respect to a Swing Loan. Official Body shall mean any national, federal, state, local or other government or political subdivision or any agency, authority, board, bureau, central bank, commission, department or instrumentality of either, or any court, tribunal, grand jury or arbitrator, in each case whether foreign or domestic. Participation Advance shall mean, with respect to any Lender, such Lender’s payment in respect of its participation in a Letter of Credit Borrowing according to its Revolving Credit Ratable Share pursuant to Section 2.9.3.4.
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Examples of Offered Rate Option in a sentence

  • Interest on Borrowing Tranches to which the Euro-Rate Option or the Offered Rate Option applies shall be due and payable on the earlier of (i) the end of the applicable Interest Period or (ii) each Quarterly Interest Payment Date occurring prior to the end of such Interest Period.

  • Notwithstanding the preceding sentence, the following provisions shall apply to any selection of, renewal of, or conversion to a Euro-Rate Option or an Offered Rate Option.

  • When significant items of property, plant and equipment are replaced, these items are recognized as individual assets, with specific useful lives and depreciations.

  • Swing Loans shall ------------------------------- bear interest under the Offered Rate Option.

  • The Borrower shall have the right to prepay at any time and from time to time, in whole or in part, without penalty, any advance hereunder which is accruing interest under the Base Rate Option or the As Offered Rate Option.

  • At any time when the Borrower shall select, convert to or renew a Euro-Rate Option or shall elect to accept an interest rate quoted by Bank under the Offered Rate Option (in the case of the Revolving Line), the Borrower shall notify the Bank thereof three (3) Business Days prior to the effective date of such Interest Rate Option by delivering a Loan Request or Reducing Line Loan Request, as applicable.

  • The Borrower shall have the right to prepay at any time and from time to time, in whole or in part, without penalty, any advance hereunder which is accruing interest under the Base Rate Option or the As Offered Rate Option with an interest period of 7 days or less.

  • The Borrower shall pay interest on the Swing Loans under the Offered Rate Option.

  • Interest on the principal balance hereof comprising Borrowing Tranches to which the Euro-Rate Option or the Offered Rate Option applies shall be due and payable on the earlier of (i) the end of the applicable Interest Period or (ii) each Quarterly Interest Payment Date occurring prior to the end of such Interest Period.

  • If the Borrower prepays (whether voluntary, on default or otherwise) all or any part of any advance which is accruing interest under the Libor-Rate Option or under the As Offered Rate Option with an interest period in excess of 7 days on other than the last day of the applicable Libor-Rate Interest Period or As Offered Rate Interest Period, as the case may be, the Borrower shall pay to the Bank, on demand therefor, all amounts due pursuant to paragraph 8 below, including the Cost of Prepayment, if any.

Related to Offered 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].

  • Rate Option means the Eurodollar Rate or the Floating Rate.

  • 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;

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

  • USD-LIBOR-BBA As defined in the Swap Agreement in the Annex to the 2000 ISDA Definitions.

  • LIBOR Tranche means the collective reference to LIBOR Rate Loans whose Interest Periods begin and end on the same day.

  • Adjusted London Interbank Offered Rate applicable to any Interest Period means a rate per annum equal to the quotient obtained (rounded upward, if necessary, to the next higher 1/100 of 1%) by dividing (i) the applicable London Interbank Offered Rate by (ii) 1.00 minus the Euro-Dollar Reserve Percentage.

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

  • LIBOR has the meaning specified in the definition of Eurodollar Rate.

  • Designated Eurodollar Market means, with respect to any Eurodollar Rate Advance, the London Eurodollar Market.

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

  • Eurodollar Market means a regular established market located outside the United States of America by and among banks for the solicitation, offer and acceptance of Dollar deposits in such banks.

  • LIBOR Index Rate means, for any Interest Period, the rate per annum (rounded upwards, if necessary, to the next higher one hundred-thousandth of a percentage point) for deposits in U.S. Dollars for a period equal to such Interest Period, which appears on the LIBOR01 Page as of 11:00 a.m. (London, England time) on the day two (2) Business Days before the commencement of such Interest Period.

  • Eurodollar Period means, as to each Eurodollar Rate Advance comprising part of the same Borrowing, the period commencing on the date specified by Borrower pursuant to Section 2.1(b) and ending 1, 2, 3 or 6 months (or, if available to all Lenders, 9 or 12 months) thereafter, as specified by Borrower in the applicable Request for Borrowing or Request for Continuation/Conversion provided that:

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • London Interbank Offered Rate has the meaning set forth in Section 2.07(b).

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(ii).

  • USD LIBOR means the London interbank offered rate for U.S. dollars.

  • EURIBOR means, in relation to any Loan in euro:

  • CIBOR means the Copenhagen interbank offered rate;

  • Interbank Offered Rate means, for any Eurodollar Loan for any Interest Period therefor, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on Reuters Screen LIBO Page as the London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period; provided, however, if more than one rate is specified on Reuters Screen LIBO Page, the applicable rate shall be the arithmetic mean of all such rates (rounded upwards, if necessary, to the nearest 1/100 of 1%).

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

  • Eurodollar when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate.