Rate Advance definition

Rate Advance means an Advance denominated in Sterling or Euros, as selected by the Borrower, and bearing interest at the LIBO Rate.
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Rate Advance into a Eurodollar Rate Advance and ending on the corresponding day of the immediately following month (or if there is no corresponding day, the last Business Day of such immediately following month), and thereafter, and so long as no Event of Default shall exist, each subsequent period commencing on the last day of the immediately preceding Interest Period and ending on the corresponding day of the immediately following month (or if there is no corresponding day, the last Business Day of such immediately following month); provided, that no Interest Period may end after the Termination Date.
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Rate Advance means a Contract Advance that bears interest as provided in Section 2.07c. Eurodollar Rate Reserve Percentage of any Lender for the Interest Period for any Eurodollar Rate Advance means the reserve percentage applicable during such Interest Period (or if more than one such percentage shall be so applicable, the daily average of such percentages for those days in such Interest Period during which any such percentage shall be so applicable) under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for such Lender with respect to liabilities or assets consisting of or including Eurocurrency Liabilities having a term equal to such Interest Period. Events of Default has the meaning specified in Section 6.01. Federal Funds Rate means, for any period, a fluctuating interest rate per annum equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by the Agent from three Federal funds brokers of recognized standing selected by it. Fee Letter means that certain letter agreement, dated October 10, 1995, between the Borrower and the Agent. GSU means Gulf States Utilities Company, a Texas corporation. Guaranty Obligations means (i) direct or indirect guaranties in respect of, and obligations to purchase or otherwise acquire, or otherwise to assure a creditor against loss in respect of, Debt of any Person and (ii) other guaranty or similar obligations in respect of the financial obligations of others, including, without limitation, Support Obligations. Interest Period means, for each Contract Advance made as part of the same Contract Borrowing, the period commencing on the date of such Contract Advance or the date of the Conversion of any Contract Advance into such a Contract Advance and ending on the last day of the period selected by the Borrower pursuant to the provisions below and, thereafter, each subsequent period commencing on the last day of...
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Examples of Rate Advance in a sentence

  • Your minimum periodic payment for each billing cycle is the sum of the minimum periodic payments due for any Variable Rate Advance balance and any Fixed Rate Advance balance you have during that billing cycle, plus any other amounts that may be due under the terms of the agreement.

  • Your Account is limited to a maximum of three (3) outstanding Fixed Rate Advance balances at any time.

  • The terms of each Fixed Rate Advance will depend on the terms that you request and the circumstances of your Account at the time of your request, and will be disclosed to you at the time of each advance.

  • Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion.

  • Unless otherwise agreed with the Corporation in relation to a specific Advance, the following provisions apply to each Advance of Term Fixed Rate Lending (Term Fixed Rate Advance): Minimum amount of Advance $50,000 Minimum Term of Each Advance: 6 months Maximum Term of Each Advance: 20 years or such longer period as may be agreed between the Parties either generally or in relation to an Advance with specified characteristics or in relation to a proposed Advance.

  • During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (A) the Base Rate in effect from time to time and (B) the Applicable Margin, payable in arrears quarterly on the last Business Day of each March, June, September and December, during such periods and on the Maturity Date.

  • The interest rate on a Eurodollar Rate Advance is determined by reference to the London interbank offered rate (“LIBOR”).

  • Subject to Section 2.3, the Borrower may elect from time to time to convert all or any part of a Floating Rate Advance into a Eurodollar Advance.

  • Changes in the rate of interest on that portion of any Advance maintained as a Floating Rate Advance will take effect simultaneously with each change in the Alternate Base Rate.

  • The Administrative Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance and each LIBOR Market Index Rate Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.


More Definitions of Rate Advance

Rate Advance. That portion of the principal amount outstanding under this Note with respect to which Borrower elects to have the LIBO Rate apply during any LIBO Interest Period.
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Rate Advance means any Bid Rate Advance - Revolving Credit or Bid Rate Advance - Working Line, as applicable under the circumstances used.
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Related to Rate Advance

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

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

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

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

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

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

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

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

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

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

  • Eurocurrency Rate Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars or in an Agreed Currency which bears interest as provided in Section 2.07(b) or a Local Currency Advance which bears interest as provided in Section 2.07(b) and the Local Currency Addendum.

  • LIBO Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurocurrency Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

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

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

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

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

  • LIBOR Rate Loan means a Loan that bears interest based on LIBOR.

  • 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.

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • Reference Rate Loan means any Committed Loan that bears interest at a rate determined with reference to the Reference Rate.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.