Term Rate Loan Option definition

Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2.3(a).
Sample 1Sample 2Sample 3
Term Rate Loan Option means the option of the Borrowing Agent to have Loans bear interest at the rate and under the terms specified in Section 4.1.1.1 [Revolving Credit Term Rate Loan Option].
Sample 1Sample 2Sample 3
Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 4.1.1(ii) [Revolving Credit Term Rate Loan Option]."
Sample 1Sample 2Sample 3

Examples of Term Rate Loan Option in a sentence

  • In the case of the renewal of a Term Rate Loan Option at the end of an Interest Period, the first day of the new Interest Period shall be the last day of the preceding Interest Period, without duplication in payment of interest for such day.

  • As to any Loans to which a Term Rate Loan Option applies (including on and after the Term RFR Transition Date with respect to any Currency, as to any RFR Loan denominated in such Currency), interest shall be due and payable on the last day of each Interest Period for those Loans and, if such Interest Period is longer than three (3) Months, also on the 90th day of such Interest Period.

  • If the Borrower fails to select a new Interest Period to apply to any Borrowing of Loans in Dollars under any Term Rate Loan Option at the expiration of an existing Interest Period applicable to such Borrowing in accordance with the provisions of Section 2.13(b), the Borrower shall be deemed to have selected an Interest Period of one (1) month, as applicable to Revolving Loans or Term Loans as the case may be, commencing upon the last day of the existing Interest Period.

  • At any time when the Borrower shall select, convert to or renew a Term Rate Loan Option, the Borrower shall notify the Administrative Agent thereof at least three (3) Business Days prior to the effective date of such Term Rate Loan Option by delivering a Loan Request.

  • As to any Loans to which a Term Rate Loan Option applies (including on and after the Term RFR Transition Date with respect to any Available Currency, as to any RFR Loan denominated in such Currency), interest shall be due and payable on the last day of each Interest Period for those Loans and, if such Interest Period is longer than three (3) Months, also on the 90th day of such Interest Period.


More Definitions of Term Rate Loan Option

Term Rate Loan Option means the option of the Borrower to have Loans bear interest at a rate based on the Term SOFR Rate or Term RFR for the relevant Currency and under the terms specified for Term SOFR Rate Loans or Term RFR Loans denominated in such Currency, as applicable, in Section 2.08.
Sample 1Sample 2Sample 3
Term Rate Loan Option means the option of the Borrower to have Loans bear interest at the rate and under the terms specified in Section 2.08(a)(i).
Sample 1Sample 2
Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 4.1(a)(i) [Revolving Credit Loan Term Rate Loan Option] or Section 4.1(c)(i) [Term Loan and Delayed Draw Term Loans Term Rate Loan Option], as applicable.
Sample 1Sample 2
Term Rate Loan Option means a Loan that bears interest at a rate based on the Term SOFR Rate or Term RFR Rate. Term RFR means, for any Term RFR Borrowing for any Interest Period, a rate per annum determined by the Administrative Agent (rounded upwards, at the Administrative Agent’s discretion, to the nearest 1/100 of 1%) equal to, for any Obligations, interest, fees, commissions, or other amounts denominated in, or calculated with respect to:
Sample 1
Term Rate Loan Option means the Term SOFR Rate Option or the Eurocurrency Rate Option, as applicable.
Sample 1
Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2(vi)(B).sto
Sample 1
Term Rate Loan Option means the option of the Borrowers to have Loans bear interest at the rate and under the terms specified in Section 2.08(a)(i). “Term RFR” means, for any Term RFR Borrowing for any Interest Period, a rate per annum determined by the Administrative Agent (rounded upwards, at the Administrative Agent’s discretion, to the nearest 1/100 of 1%) equal to, for any Obligations, interest, fees, commissions, or other amounts denominated in, or calculated with respect to Canadian Dollars, the Term XXXXX Reference Rate for a period equal in length to such Interest Period, as displayed on a page or service providing such quotations as determined by the Administrative Agent from time to time (the “Term XXXXX Rate”) at approximately 1:00 p.m. (Toronto time) two (2) Business Days prior to the commencement of such Interest Period; provided, that if by such time the Term XXXXX Rate in respect of such day has not been so published, or if such day is not a Business Day, then the Term XXXXX Rate for such day will be the Term XXXXX Rate
Sample 1