Treasury Rate Loan definition
Examples of Treasury Rate Loan in a sentence
Borrowers shall be privileged to repay, without penalty or premium, the principal of any Treasury Rate Loan, in whole or in part, on the last day of the Interest Period applicable thereto, provided that such repayment is made on a Business Day.
Borrowers shall jointly and severally pay Bank with respect to each Treasury Rate Loan (a) on the fifteenth (15th) day of the month following the month in which such interest accrued during the Interest Period applicable to each such Treasury Rate Loan, all interest which accrued on such Treasury Rate Loan during such month or portion thereof, and (b) on the last day of each such Interest Period applicable to a Treasury Rate Loan, all then accrued and unpaid interest on such Treasury Rate Loan.
For greater certainty, any repayment, prepayment or cancellation of an Advance by way of Treasury Rate Loan shall be dealt with in accordance with Section 5.4 hereof.
LP shall pay to the Agent (at the Agent's Account for Payments) on behalf of the Lenders in respect of Facility C, interest on the Treasury Rate Loan outstanding to the Lenders under Facility C at the rate of 6.44 percent (6.44%) per annum (the ''Fixed Rate'') plus, if applicable, the Facility C Interest Premium.
LP shall pay to the Agent (at the Agent's Account for Payments) on behalf of the Lenders in respect of Facility C, interest on the Treasury Rate Loan outstanding to the Lenders under Facility C at the rate of 6.44 percent (6.44%) per annum (the "Fixed Rate") plus the applicable Facility C Interest Premium.
Borrowers shall not make any optional prepayment of the principal of any Treasury Rate Loan before the last day of its applicable Interest Period, and any payments of principal of any Treasury Rate Loan on any date other than the last day of the applicable Interest Period shall be subject to payment of the amounts required under Section 3.8 below.
Each Borrower Notice or Treasury Rate Request which requests a Treasury Rate Loan shall be effective as of the Banking Day after it is received if received by the Administrative Agent no later than 11:30 A.M. (Central time) or as of the second Banking Day if received later than 11:30 A.M. (Central time).
Letters of Credit and Letters of Guarantee Before 11:00 a.m. three Business Days prior to the requested Drawdown Date Hedge Contracts (including FEFCs, Purchase Options and interest rate hedging instruments) Before 11:00 a.m. up to five Business Days prior to the requested Drawdown Date Each notice given in respect of an Advance by way of Prime Loan, USBR Loan, Treasury Rate Loan or US Prime Rate Loan shall indicate the amount of the required Advance and the date funds are required.
Unless Borrower requests and receives a Treasury Rate Loan pursuant to Subsection 3.1.2 hereof or a Quoted Rate Loan pursuant to Subsection 3.1.3 hereof, the outstanding principal balance under the Notes shall bear interest at the Base Rate (each a "BASE RATE LOAN").
Interest on the Treasury Rate Loan shall be paid on every Interest Payment Date and on the Maturity Date by debit to the Agent's Accounts for Payments by the Agent on behalf of the Lenders under Facility C.