Overnight Loan definition

Overnight Loan means a Loan (or any portion thereof) bearing interest based on the Overnight Rate.
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Overnight Loan has the meaning given in Section 2.1(e).
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Overnight Loan means a Loan (or any portion thereof) bearing interest based on the One-month Eurodollar Ratepursuant to clause (b) of the defined term Term SOFR.
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Examples of Overnight Loan in a sentence

  • The Administrative Agent will promptly notify the Lenders of any termination or reduction of the Overnight Loan Sublimit, Swing Line Sublimit or the Aggregate Revolving Commitments under this Section 2.05.

  • Notwithstanding anything herein to the contrary, in no event shall the Borrower be permitted to borrow an Overnight Loan if, immediately after giving effect thereto, the aggregate outstanding principal amount of all Overnight Loans would exceed $35,000,000.

  • All payments and prepayments of principal and interest on any Overnight Loan and all payments of commitment fees payable under Section 2.10(c) hereof shall be made by the Borrower by paying the same in United States Dollars and in immediately available funds to U.S. Bank at its Commercial Loan Service Center, Portland, Oregon not later than 3:00 p.m. (Portland time) on the date on which such payment or prepayment shall become due.

  • If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.05, the Overnight Loan Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Overnight Loan Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

  • Notwithstanding anything herein to the contrary, in no event shall the Borrower be permitted to borrow an Overnight Loan if, immediately after giving effect thereto, the aggregate outstanding principal amount of all Overnight Loans would exceed $40,000,000.

  • Each Overnight Loan shall bear interest as set forth in Section 2.05.

  • To request a Loan, the Borrower shall make a telephonic Borrowing Request to the Administrative Agent, not later than (i) in the case of an ABR Loan or an Overnight Loan, 12:00 noon, New York City time, on the Business Day of the proposed Loan, and (ii) in the case of a LIBOR Loan, 12:00 noon, New York City time, three (3) Business Days before the date of the proposed Loan.

  • Upon request by the Borrowers in a Notice of Borrowing, the Banks shall advance (in the amount of their pro rata Commitment percentage) to either Borrower an overnight loan (such Loan is hereinafter referred to as an "Overnight Loan"); provided, however, that, in no event shall the aggregate outstanding principal balance of all Overnight Loans exceed $10,000,000 at any one time.

  • If the Borrower shall fail to give the Bank the notice as specified above for the renewal or conversion of a LIBOR Loan prior to the end of the Interest Period with respect thereto, such LIBOR Loan shall automatically be converted into a Prime Loan (or Overnight Loan, after that method of interest calculation has been substituted by Borrower for the Prime Loan method) on the last day of the Interest Period for such Loan.

  • Notwithstanding any provision of this Agreement to the contrary, the Borrower shall not be entitled to request any Overnight Loan or Eurodollar Loan hereunder following March 19, 1997.


More Definitions of Overnight Loan

Overnight Loan means a Loan made pursuant to Section 5.01.
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Overnight Loan means any Reference Loan or Daily Pricing Loan made under Articles II and V of this Agreement.
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Related to Overnight Loan

  • Overnight LIBOR Rate means, in relation to any Loan in a LIBOR Quoted Specified Alternative Currency for any day, a rate per annum equal to the London Interbank Offered Rate (“LIBOR”) for such currency or, if such rate is not available, a comparable or successor rate which rate is reasonably selected by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m. (London time) for an amount comparable to the amount of that Loan on such day for overnight deposits in the relevant currency, and, if any such applicable rate is below zero, the Overnight Libor Rate for such day will be deemed to be zero; provided, that, after the date hereof and to the extent a comparable or successor rate is reasonably selected by the Administrative Agent (as contemplated above), such selected rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such selected rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent.

  • Overnight Bank Funding Rate means, for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of depository institutions (as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time) and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite rate).

  • Overnight Foreign Currency Rate means, for any amount payable in a Foreign Currency, the rate of interest per annum as determined by the Administrative Agent at which overnight or weekend deposits in the relevant currency (or if such amount due remains unpaid for more than three (3) Business Days, then for such other period of time as the Administrative Agent may elect) for delivery in immediately available and freely transferable funds would be offered by the Administrative Agent to major banks in the interbank market upon request of such major banks for the relevant currency as determined above and in an amount comparable to the unpaid principal amount of the related Credit Event, plus any taxes, levies, imposts, duties, deductions, charges or withholdings imposed upon, or charged to, the Administrative Agent by any relevant correspondent bank in respect of such amount in such relevant currency.

  • Dollar Loan means a Loan denominated in Dollars.

  • 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.

  • Alternate Currency Loan means any Loan denominated in an Alternate Currency.

  • Offshore Currency Loan means any Offshore Rate Loan denominated in an Offshore Currency.

  • Alternative Currency Loan means an Alternative Currency Daily Rate Loan or an Alternative Currency Term Rate Loan, as applicable.

  • Courier means any armed person who transports or offers to transport from one place to another

  • Euro-Dollar Business Day means any Domestic Business Day on which commercial banks are open for international business (including dealings in dollar deposits) in London.

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • 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.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Euro-Dollar Borrowing has the meaning set forth in Section 1.3.

  • Money Market LIBOR Loan means a loan denominated in US Dollars to be made by a Lender pursuant to a LIBOR Auction (including such a loan bearing interest at the Base Rate pursuant to Section 3.2).

  • Euro-Dollar Loan means a Committed Loan that bears interest at a Euro-Dollar Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Eurodollar Loan means any Loan bearing interest at a rate determined by reference to the Eurodollar Rate.

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

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

  • Multicurrency Loan means a Loan denominated in Dollars or an Agreed Foreign Currency.

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

  • Foreign Currency Loan means each Revolving Loan denominated in a Designated Foreign Currency and bearing interest at a rate based upon the Adjusted Foreign Currency Rate.

  • B/A Equivalent Loan has the meaning assigned to such term in Section 2.06(j).

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • Eurodollar Business Day means any Business Day on which dealings are also carried on in the London interbank market and banks are open for business in London.