Substitute Rate Loan definition

Substitute Rate Loan means the Loan at any time in which the Applicable Interest Rate is calculated at the Substitute Rate plus the Substitute Spread in accordance with the provisions of Article II hereof.
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Substitute Rate Loan means a Euro Committed Loan denominated in Euro that bears interest at a rate based on the Substitute Rate.
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Substitute Rate Loan means a Loan that bears interest at a rate based on the Substitute Rate.
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Examples of Substitute Rate Loan in a sentence

  • Notwithstanding any provision of this Agreement to the contrary, in no event shall Borrower have the right to elect to convert a LIBOR Loan to a Substitute Rate Loan.

  • Subject to Section 2.2.4(e), at any time that the Loan is a Base Rate Loan or a Substitute Rate Loan, Borrower shall maintain a Substitute Interest Rate Protection Agreement.

  • Whenever in this Section 2.2.4 the term “interest or fees payable by Lender to lenders of funds obtained by it” is used and no such funds were actually obtained from such lenders, it shall include interest or fees which would have been payable by Lender if it had obtained funds from lenders in order to maintain a LIBOR Loan, a Base Rate Loan or a Substitute Rate Loan hereunder.

  • Further, if the Loan has been converted to a Substitute Rate Loan and thereafter the Substitute Index becomes unavailable, then notwithstanding anything contained herein to the contrary, the Loan shall convert from a Substitute Rate Loan to a Base Rate Loan and establish the Applicable Interest Rate for the Loan at the Base Rate effective as of the Conversion Date.

  • If such notice is given, the Conversion Date shall be the first day of the next succeeding Interest Period, and the Loan shall be converted to a Substitute Rate Loan and the Applicable Interest Rate for the Loan shall be the Substitute Rate.


More Definitions of Substitute Rate Loan

Substitute Rate Loan means a Loan denominated in a currency other than Dollars that bears interest at a rate based on a Substitute Rate.
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Substitute Rate Loan means a Loan that bears interest at a rate based on the Substitute Rate. “Substitution Event” has the meaning set forth in Section 2.13.
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Substitute Rate Loan means a Euro Committed Loan denominated in Euro that bears interest at a rate based on the Substitute Rate. “Successor Rate” has the meaning specified in Section 7.3.2.
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Substitute Rate Loan means the Loan at any time when the Applicable Interest Rate is calculated at the Substitute Rate plus the Substitute Spread in accordance with the provisions of Article II hereof.
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Substitute Rate Loan means the Mezzanine Loan at any time when the Applicable Interest Rate is calculated at the Substitute Rate plus the Substitute Spread in accordance with the provisions of Article 2 hereof.
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Substitute Rate Loan means a Euro Committed Loan that bears interest at a rate based on the Substitute Rate. “Supplemental Addendum” has the meaning specified in Section 6.14.2.
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Substitute Rate Loan means the Loan at any time in which the Applicable Interest Rate is calculated at the Reference Rate plus the Spread in accordance
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