Revolving Credit Rate definition

Revolving Credit Rate shall have the meaning assigned to it in Section 1.5(a).

Revolving Credit Rate means a fluctuating rate that, when annualized, is equal to the greatest of (A) the Prime Rate plus three and one quarter percent (3.25%), (B) the LIBOR Rate plus five and three quarter percent (5.75%), and (C) six and one half percent (6.50%).

Revolving Credit Rate. As defined in Section 2.3 hereof.

Examples of Revolving Credit Rate in a sentence

• After Conversion, interest shall accrue on the principal outstanding from time to time at a variable rate, which shall fluctuate on a monthly basis, which is equal to the Revolving Credit Rate plus .25%.

• After Conversion, interest shall accrue on the Principal Loan Amount outstanding on the respective Converted Note from time to time at a variable rate, which shall fluctuate on a monthly basis, which is equal to the Revolving Credit Rate plus one quarter of one percent (.25%).

• After an Event of Default has occurred, interest shall accrue: (i) with respect to the fixed rate Notes, on the entire outstanding balance of principal and interest at a fluctuating rate equal to the Revolving Credit Rate plus four percent (4.00%); and (ii) as to the floating rate Notes, on the principal loan amount thereof at a rate per annum equal to three and one-half percent (3.5%) above New York Prime.

• Interest on the outstanding principal balance under this Note is payable at the Revolving Credit Rate, or, under the circumstances contemplated by the Agreement, at the Default Rate, in immediately available United States Dollars at the time and in the manner specified in the Agreement.

• The interest rate shall change whenever the applicable Base Rate, the Applicable Revolving Credit Rate for Base Rate Loans, the Eurodollar Rate, the LIBOR Reference Rate or the Applicable Revolving Credit Rate for Eurodollar Loans changes.

More Definitions of Revolving Credit Rate

Revolving Credit Rate. The Base Rate minus the applicable margin as determined pursuant to Section 2.3.

Revolving Credit Rate means a per annum rate of interest determined as follows:

Revolving Credit Rate. The Wall Street Journal Prime Rate plus one and three quarters percent (1.75%) or 30 day LIBOR plus four hundred seventy (470) basis points Borrowing Base: 65% of the net present value of Borrower's Eligible Lease Receivables. The Loan described generally here is established and governed by the terms and conditions set forth below in this Agreement and the other Loan Documents, and if there is any conflict between this general description and the express terms and conditions below or elsewhere in the Loan Documents, such other express terms and conditions shall control.

Revolving Credit Rate means an annual rate of interest (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the higher of: (a) the sum of (i) the Base LIBOR Rate multiplied by the Statutory Reserve Rate plus

Revolving Credit Rate. The Wall Street Journal Prime Rate plus one and one quarter percent (1.25%) or 30 day LIBOR plus four hundred (400) basis points.

Revolving Credit Rate. The per annum interest rate equal to the Base Rate minus 3/4 of 1%. Revolving Lenders: FNB-O, Harrxx Xxxst and Savings Bank, Mercantile Bank of St. Louis, N.A., LaSalle National Bank, and such additional Revolving Lenders as may be added as Revolving Lenders under Section 2.1 hereto from time to time in accordance with this Agreement, as such Revolving Lenders may be modified by assignments permitted under Section 7.4 from time to time.

Revolving Credit Rate. The floating interest rate announced from time to time by FNB-O as its "National Base Rate." The National Base Rate is set by FNB-O, solely in its discretion, to reflect generally the rates charged by national money center banks as their reference rates. (Previously, the rate was announced by FNB-O as its "New York Base Rate.") Rates charged by FNB-O may be at, above or below the National Base Rate, as determined by FNB-O as to each respective customer. Security Agreement: The 1996 Restated Security Agreement restated as of May 3, 1996, between the Borrower and FNB-O, as agent for the Lenders and others, as amended by the First Amendment to 1996 Restated Security Agreement, dated as of June 28, 1996; the Second Amendment to 1996 Restated Security Agreement, dated as of July 31, 1996; and the Third Amendment to 1996 Restated Security Agreement, dated as of December 27, 1996; and as further amended and restated by the 1997 Security Agreement dated as of February 26, 1997, between the Borrower and FNB-O, as agent for the Lenders and others and as further amended or restated from time to time. References in the Notes to the 1996 Restated Security Agreement shall mean the Security Agreement as defined herein.