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.
Sample 1Sample 2
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.
Sample 1

Examples of Offered Rate Option in a sentence

  • Each Borrowing Tranche under the Euro-Rate Option shall be in integral multiples of $100,000 and not less than $500,000; each Borrowing Tranche under the Offered Rate Option shall be in integral multiples of $100,000 and not less than $2,500,000.

  • The notice shall specify an interest period (the "Interest Period") during which such Interest Rate Option shall apply, such Interest Period to be (i) overnight, or one, two or three Months if Borrower selects the Offered Rate Option (with respect to Revolving Line Advances) and (ii) one, two, three or six Months (the "Permitted Euro-Rate Interest Periods") if Borrower selects the Euro-Rate Option.

  • 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.

  • The Borrower shall pay interest on the Swing Loans 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 with an interest period of 7 days or less.

  • 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.

  • Prezeau, Jr., Division Director, Community & Economic DevelopmentRecent Grant AwardsThank you to the generous foundations, corporations, and government offices that provide La Casa de Don Pedro with the resources to serve the community.

  • 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.

  • 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.

  • Interest at the Offered Rate Option for Swing Loans shall be a per annum rate computed on the basis of a year of 365 or 366 days, as the case may be, over actual days elapsed.

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 means, in respect of a calendar day, the LIBOR rate for U.S. Dollars deposits with a designated maturity which appears on the Reuters Screen LIBOR01 Page (or the successor or replacement to such page as determined by the Calculation Agent) at 11:00 a.m., London time, on the day that is two London Business Days preceding the relevant reset date.

  • 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.

  • Revolving Credit Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • 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 Loan, the period commencing on the date specified by Borrower pursuant to Section 2.1(b) and ending 1, 2, 3 or 6 months (or, with the written consent of all of the Lenders, any other period) thereafter, as specified by Borrower in the applicable Request for Loan; 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 2.06(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 the Eurodollar Rate.