Term XXXXX Borrowing definition

Term XXXXX Borrowing means any Borrowing comprised of Term XXXXX Loans.
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Term XXXXX Borrowing means a Borrowing comprised of Term XXXXX Loans. “Term XXXXX Loan” means a Loan made pursuant to Section 2.08 that bears interest at a rate based on Adjusted Term XXXXX other than pursuant to clause (ii) of the definition of “Canadian Prime Rate” “Term XXXXX Reference Rate” means the forward-looking term rate based on XXXXX. “Term SOFR” means, for any Interest Period for a SOFR Loan, the greater of (a) the Term SOFR Reference Rate (rounded upward to the next one-sixteenth (1/16th) of one percent (0.0625%), if necessary) for a tenor comparable to the applicable Interest Period on the day (the “Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator and (b) the Floor; provided, however, that if as of 5:00 p.m. (New York City time) on any Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Term SOFR Determination Day. “Term SOFR Adjustment” means 0.10% (10 basis points). “Term SOFR Administrator” means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion). “Term SOFR Conforming Changes” means, with respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Alternate Base Rate,” the definition of “Business Day,” the definition of “U.S. Government Securities Business Day,” the definition of “Interest Period” or any similar or analogous definition (or the addition of a concept of “interest period”), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continu...
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Examples of Term XXXXX Borrowing in a sentence

  • Subject to Section 2.03(d), the Loans constituting each Syndicated Borrowing and Term Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Term SOFR Borrowing, Eurocurrency Borrowing or Term XXXXX Borrowing, shall have the Interest Period specified in such Borrowing Request.

  • Subject to the terms and condition hereof and provided that the Borrower has, by giving written notice to the Administrative Agent, requested with respect to any Term XXXXX Borrowing or Daily Compounded XXXXX Borrowing, the continuation of all or a portion of such Borrowing (subject to the terms and conditions hereof) for an additional Interest Period subsequent to the initial or any subsequent Interest Period applicable thereto.

  • If any such request for a conversion requests a Term XXXXX Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one (1) months’ duration.

  • If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing; or in the case of Loans denominated in an Alternative Currency, a Eurocurrency Rate Borrowing or Term XXXXX Borrowing, as applicable, with an initial Interest Period of one month (in the case of a Eurocurrency Term Rate Borrowing or a Term XXXXX Borrowing).

  • If no Interest Period with respect to a Term XXXXX Borrowing or SOFR Borrowing has been specified in any such notice, then the Parent Borrower shall be deemed to have selected an Interest Period of one month’s duration.

  • Unless such Term XXXXX Borrowings are repaid as provided herein, each outstanding Term XXXXX Borrowing shall be converted to a Daily Compounded XXXXX Borrowing at the end of the Interest Period applicable to each such Term XXXXX Borrowing.

  • Any request for, or conversion to, a Term XXXXX Borrowing shall be deemed to be a request for, or conversion to, a Daily Compounded XXXXX Borrowings.

  • Such amount shall be held by the Canadian Agent as general and continuing cash collateral for payment of the indebtedness and liability of the Canadian Borrower to the Canadian Lenders in respect of such Bankers’ Acceptances and any other obligations to the Canadian Lenders.Following the Rate Flip Date, all outstanding Term XXXXX Borrowings may remain outstanding until the last day of the Interest Period applicable to each such Term XXXXX Borrowing.

  • If no Interest Period is specified with respect to any requested Term XXXXX Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

  • If no Interest Period is specified with respect to any requested Term SOFR Borrowing, Eurocurrency Term Rate Borrowing or Term XXXXX Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration.

Related to Term XXXXX Borrowing

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Advances of the same Type made by the Term A Lenders.

  • Term Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders pursuant to Section 2.01(a).

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

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

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Incremental Term Borrowing means a Borrowing comprised of Incremental Term Loans.

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

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

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

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

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

  • Revolving Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.

  • Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in the definition of the term “Permitted Initial Revolving Borrowing.”

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Refunding Borrowing means a Committed Borrowing which, after application of the proceeds thereof, results in no net increase in the outstanding principal amount of Committed Loans made by any Bank.

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Pro-Rata Borrowing has the meaning assigned to such term in Section 2.03(a).