Overnight Rate Loans definition

Overnight Rate Loans means Loans bearing interest calculated by reference to the Overnight Rate.
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Overnight Rate Loans. Loans bearing interest calculated by reference to the Overnight Rate. Overnight Rate Loans may be denominated in Dollars, Euro, Sterling, or Swiss Franc. All Swing Line Loans denominated in an Alternative Currency must be Overnight Rate Loans.
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Overnight Rate Loans means a Loan that bears interest based on the Overnight Rate. “Participant” has the meaning specified in S ection 11.06(d).
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Examples of Overnight Rate Loans in a sentence

  • Whenever any payment of principal of, or interest on, Overnight Rate Loans or of fees shall be due on a day which is not a Domestic Business Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day and interest shall accrue during such extension.

  • The Revolving Loans made in Dollars may from time to time be Eurocurrency Loans or Alternate Base Rate Loans; the Revolving Loans made in Pounds may from time to time be Eurocurrency Loans or Pound Sterling Overnight Rate Loans; and the Revolving Loans made in Euros may from time to time be Eurocurrency Loans or Euro Overnight Rate Loans, in each case as determined by the applicable Borrower and notified to the Administrative Agent in accordance with Sections 2.03 and 2.07.

  • The European Swing Line Loans shall be made in Alternative Currencies and maintained as Overnight Rate Loans and, notwithstanding Section 2.6, shall not be entitled to be converted into any other Type of Loan.

  • Swing Line Loans shall be made in Dollars or Alternative Currencies and maintained as Base Rate Loans, with respect to Swing Line Loans made in Dollars, and Overnight Rate Loans with respect to Swing Line Loans made in Alternative Currencies and, notwithstanding Section 2.6, shall not be entitled to be converted into any other Type of Loan.

  • Each Borrower agrees to pay interest in respect of the unpaid principal amount of such Borrower’s Overnight Rate Loans from the date the proceeds thereof are made available to such Borrower until the maturity of such Overnight Rate Loan at a rate per annum equal to the Overnight Euro Rate or Overnight LIBOR Rate, as applicable.

  • On the date a Loan is to be made, the Bank shall make available such Loan amount (y) promptly after receipt of notice in the case Overnight Rate Loans; and (z) not later than 3:00 P.M. in the case of LIBOR Rate Loans.

  • Such request shall be made in writing (which written request shall be deemed to be a Loan Request for purposes hereof) and in accordance with the requirements of §2.6, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans or Overnight Rate Loans, but subject to the unutilized portion of the Total Commitments and the conditions set forth in §12.

  • All Swing Line Loans denominated in an Alternative Currency must be Overnight Rate Loans.

  • Such request shall be made in writing (which written request shall be deemed to be a Loan Request for purposes hereof) and in accordance with the requirements of Section 2.06, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, €STR Loans or Overnight Rate Loans, but subject to the unutilized portion of the Total Commitments and the conditions set forth in Article 12.

  • European Swingline Loans shall be comprised solely of Overnight Rate Loans and may be repaid and reborrowed in accordance with the provisions hereof.

Related to Overnight Rate Loans

  • Prime Rate Loans means any Loans or portion thereof on which interest is payable based on the Prime Rate in accordance with the terms thereof.

  • Base Rate Loans Loans the rate of interest applicable to which is based upon the Base Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Eurodollar Rate Loans means any Loans or portion thereof on which interest is payable based on the Adjusted Eurodollar Rate in accordance with the terms hereof.

  • ABR Loans Loans the rate of interest applicable to which is based upon the ABR.

  • Prime Rate Loan means a Loan that bears interest based on the Prime Rate.

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • LIBOR Rate Loans means the Loans bearing interest with reference to the LIBOR Rate.

  • Eurocurrency Loans Loans the rate of interest applicable to which is based upon the Eurocurrency Rate.

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

  • Eurodollar Loans Loans the rate of interest applicable to which is based upon the Eurodollar Rate.

  • Canadian Prime Rate Loans means any Canadian Dollar Revolving Loan during the period which it bears interest at a rate determined by reference to the Canadian Prime Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

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

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • Alternative Currency Daily Rate Loan means a Committed 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.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • 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.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

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

  • Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.