Examples of Loan Term in a sentence
If the applicable Borrower(s) fails to timely give the Administrative Agent the Rollover Notice with respect to any Eurocurrency Rate Loan, any Term SOFR Loan or any Term XXXXX Loan, such Borrower(s) shall be deemed to have elected to renew such Loan as a Eurocurrency Rate Loan, Term SOFR Loan or Term XXXXX Loan, as applicable, with an Interest Period of one (1) month commencing on the expiration of the preceding Interest Period.
Interest rate: 16% per annum, which shall be calculated on the actual number of days elapsed on the basis of 360-day year commencing from the Drawdown Date Upfront fee: 1% of the Loan, which is payable on or before the Drawdown Date for the Loan Term: Tranche A of the loan in the principal amount of HK$100,000,000 shall be for a term of two months after the Drawdown Date while Tranche B of the loan in the principal amount of HK$60,000,000 shall be for a term of 15 days after the Drawdown Date.
Borrowings and Loans hereunder are distinguished by “Class” (e.g., an Initial Term Loan, Term Loan, Incremental Term Loan, Initial Revolving Loan, Revolving Loan and Incremental Revolving Loan) and “Type” (e.g., Base Rate Loan or SOFR Loan).
Notwithstanding the provisions of clause 5.2 of the T&C, Mogo Auto may within its sole discretion, extend the aforesaid Loan Term on such terms and conditions as Mogo Auto may prescribe.
Any prepayment of (x) a Eurocurrency Rate Loan, Term SOFR Loan, XXXXX Rate Loan or Daily Simple SOFR Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05 and (y) Term B-1 Loans hereunder shall be subject to Section 2.05(c).