Examples of Base Rate Loan in a sentence
In lieu of having interest charged at the rate based upon the Base Rate, Borrowers shall have the option, subject to Section 2.12(b) below (the “LIBOR Option”) to have interest on all or a portion of the Revolving Loans be charged (whether at the time when made (unless otherwise provided herein), upon conversion from a Base Rate Loan to a LIBOR Rate Loan, or upon continuation of a LIBOR Rate Loan as a LIBOR Rate Loan) at a rate of interest based upon the LIBOR Rate.
At any time prior to the Maturity Date, subject to Section 6.3, the Borrower may elect to repay without penalty any Prime Rate Loan or US Base Rate Loan outstanding under the Credit Facility with interest accrued to the date of such repayment.
Notwithstanding the foregoing, for the Term Borrowings and Revolving Credit Borrowing (if any) on the Closing Date, whether a Eurodollar Rate Loan or Alternate Base Rate Loan, the Borrower shall deliver notice to the Administrative Agent not later than 12:00 p.m. one Business Day prior to the Closing Date (or such 66 shorter period as the Administrative Agent may agree).
The payment by an L/C Issuer of a drawing under any Letter of Credit shall constitute for all purposes of this Agreement the making by such L/C Issuer of an L/C Advance, which shall be an Alternate Base Rate Loan, in Dollars in the amount of the Dollar Equivalent of such drawing and the applicable L/C Issuer shall be entitled to receive interest paid on such amount at the Alternate Base Rate through the date that such L/C Issuer is repaid in full.
The payment by an L/C Issuer of a drawing under any Letter of Credit or payment under a Support Agreement shall constitute for all purposes of this Agreement the making by such L/C Issuer of an L/C Advance, which shall be an Alternate Base Rate Loan, in Dollars in the amount of such drawing and the applicable L/C Issuer shall be entitled to receive interest paid on such amount at the Alternate Base Rate through the date that such L/C Issuer is repaid in full.