Swing Loan Base Rate definition

Swing Loan Base Rate has the meaning specified in Schedule 1.1.
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Swing Loan Base Rate means, for any amount in an Alternate Currency, for any day the rate of interest per annum equal to the higher of (i) the rate of interest per annum at which overnight deposits in the Alternate Currency, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by the Swing Loan Lender's local branch to major banks in the local market or other applicable offshore interbank market, and (ii) the cost of funds to the Swing Loan Lender's local branch with respect to such amount for such day, expressed as a rate of interest per annum.
Sample 1
Swing Loan Base Rate means, at any time, the higher of (i) the variable per annum rate of interest so designated from time to time by the Swing Lender as its prime rate (which rate is a reference rate and does not necessarily represent the lowest or best rate being charged to any customer) and (ii) the Federal Funds Rate plus one-half of one percent (½%). The Swing Loan Base Rate is not necessarily the lowest rate of interest charged by the Swing Lender. Changes in the rate of interest resulting from changes in the Swing Lender’s prime rate shall take place immediately without notice or demand of any kind.
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Examples of Swing Loan Base Rate in a sentence

  • Changes in the rate of interest resulting from changes in the Base Rate or the Swing Loan Base Rate, as applicable shall take place immediately without notice or demand of any kind.

  • Interest on Loans to which the Base Rate Option or Swing Loan Base Rate Option, as applicable, applies shall be due and payable in arrears on each Payment Date.

  • The interest rate on each Swing Loan shall equal the sum of the Swing Loan Base Rate plus the Applicable Margin for Swing Loans, as in effect from time to time.

  • If the Borrower issues notes pursuant to a Qualified Note Placement, simultaneously with the closing thereof, the proceeds of such issuance shall be first applied to Swing Loans to which the Swing Loan Base Rate Option applies, then to Revolving Credit Loans to which the Base Rate Option applies, then to Swing Loans to which the Swing Loan Quoted Rate Option applies, then to Revolving Credit Loans to which the Revolving Credit Euro-Rate Option applies.


More Definitions of Swing Loan Base Rate

Swing Loan Base Rate. Option shall mean the option of the Borrower to have Swing Loans bear interest at the rate and under the terms and conditions set forth in Section 4.1.2(i).
Sample 1
Swing Loan Base Rate means, for any amount in an Alternate Currency, for any day the rate of interest per annum equal to the higher of (i) the rate of interest per annum at which overnight deposits in the Alternate Currency, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by the Swing Loan Lenders’ local branches to major banks in the local market or other applicable offshore interbank market, and (ii) the cost of funds to the Swing Loan Lenders’ local branches with respect to such amount for such day, expressed as a rate of interest per annum. “Swing Loan Borrower” means each of the U.S. Borrower, FMC Finance B.V., FMC Xxxxx, X.X. and any other Foreign Subsidiary (i) designated a “Swing Loan Borrower” for purposes of this Agreement by the U.S. Borrower in a written notice in substantially the form of Exhibit D-2 hereto (each, a “Swing Loan Borrower Designation” and each Swing Loan Borrower designated thereby, a “Designated Borrower”), (ii) accepted as same by the Administrative Agent, the Swing Loan Lenders and each other Lender and (iii) joining this Agreement and the 26
Sample 1
Swing Loan Base Rate means, for any amount in an Alternate Currency, for any day the rate of interest per annum equal to the higher of (i) the rate of interest per annum at which overnight deposits in the Alternate Currency, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by the Swing Loan Lender's local branch to major banks in the local market or other applicable offshore interbank market, and (ii) the cost of funds to the Swing Loan Lender's local branch with respect to such amount for such day, expressed as a rate of interest per annum. “Swing Loan Borrower” means each of the U.S. Borrower, FMC Finance B.V., FMC Xxxxx, X.X. and any Foreign Subsidiary (i) designated a “Swing Loan Borrower” for purposes of this Agreement by the U.S. Borrower in a written notice in substantially the form of Exhibit D-2 hereto (each, a “Swing Loan Borrower Designation” and each Swing Loan Borrower designated thereby, a “Designated Borrower”), (ii) accepted as same by the Administrative Agent, the Swing Loan Lender and each other Lender and (iii) joining this Agreement and the other Loan Documents pursuant to documentation satisfactory to the Administrative Agent and the Swing Loan Lender. “Swing Loan Borrower Designation” has the meaning specified in the definition of “Swing Loan Borrower”. “Swing Loan Borrowing” means a borrowing consisting of a Swing Loan made by the Swing Loan Lender. “Swing Loan Commitment” means (i) the Dollar Equivalent of the amount set forth opposite each Swing Loan Lender’s name on Schedule I hereto or (ii) if such Lender has entered into one or more Acceptances, the Dollar Equivalent of the amount set forth for such Lender in the Register as being its Swing Loan Commitment; and the Swing Loan Commitments shall, in the aggregate, not exceed the Swing Loan Sublimit, as such amount may be increased or reduced as provided in Section 2.06 or as otherwise expressly provided in this Agreement. “Swing Loan Lender” means BofA, Citibank or one or more of its Affiliates, and any other Lender that agrees, with the approval of the Administrative Agent and the U.S. Borrower, to act as the Swing Loan Lender hereunder, in each case, in its capacity as the Swing Loan Lender hereunder. Swing Loans shall be made, and payments in respect of any Swing Loan
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Related to Swing Loan Base Rate

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

  • Canadian Base Rate means at any time, the greater of (a) the Canadian Prime Rate and (b) except during any period of time during which a notice delivered to Centuri under Section 5.8 shall remain in effect, the annual rate of interest equal to the sum of (i) the CDOR Rate for an Interest Period of one month at such time plus (ii) one percent (1%) per annum; each change in the Canadian Base Rate shall take effect simultaneously with the corresponding change or changes in the Canadian Prime Rate or the CDOR Rate, as applicable.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Swing Line Rate means an interest rate per annum offered by the Swing Line Lender with respect to the Swing Line Loans, as determined in its sole discretion, but in any event not in excess of the rate applicable to Base Rate Loans at the time of determination.

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

  • Swing Loan has the meaning specified therefor in Section 2.3(b) of the Agreement.

  • Swingline Rate means, for any Interest Period, the rate as offered by the Administrative Agent and accepted by the Borrower. The Borrower is under no obligation to accept this rate and the Administrative Agent is under no obligation to provide it.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • 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

  • Swing Line Loans as defined in Section 2.6.

  • Swing Line Loan has the meaning specified in Section 2.04(a).

  • Swing Line Advance means an advance made by (a) the Swing Line Bank pursuant to Section 2.01(c) or (b) any Lender pursuant to Section 2.02(b).

  • Swing Loans means collectively and “Swing Loan” shall mean separately all Swing Loans or any Swing Loan made by the Swingline Lender to the Borrower pursuant to Section 2.6.3 [Making Swing Loans].

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Loan Commitment Percentage means, as to any Lender, (a) on the Closing Date, the percentage set forth opposite such Lender’s name on the Commitment Annex under the column “Revolving Loan Commitment Percentage” (if such Lender’s name is not so set forth thereon, then, on the Closing Date, such percentage for such Lender shall be deemed to be zero), and (b) on any date following the Closing Date, the percentage equal to the Revolving Loan Commitment Amount of such Lender on such date divided by the Revolving Loan Commitment on such date.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Swing Line Loan Commitment means the commitment of Swing Line Lender to make Swing Line Loans to Company pursuant to subsection 2.1A(iii).

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

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Swing Loan Lender means PNC, in its capacity as lender of the Swing Loans.

  • Revolving Advances means Advances made other than Letters of Credit.

  • 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.

  • Swing Loan Note means the Swing Loan Note of the Borrower in the form of Exhibit 1.1(S) evidencing the Swing Loans, together with all amendments, extensions, renewals, replacements, refinancings or refundings thereof in whole or in part.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Swing Line Loan Commitment Amount means, on any date, $5,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.