Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.60%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

Variable Rate shall have the respective meaning as it is defined for each facility under Section 2, hereof.

Variable Rate means, for any day, the higher of (a) the Federal Funds Rate for such day plus 1/4 of one percent and (b) the Prime Rate for such day.

Examples of Variable Rate in a sentence

From the date hereof until such time as the Note is fully converted or fully repaid, the Company shall be prohibited from effecting or entering into an agreement involving a Variable Rate Transaction.
If the Company enters into a Variable Rate Transaction, the Company shall be deemed to have issued Common Stock or Common Stock Equivalents at the lowest possible conversion or exercise price at which such securities may be converted or exercised.
So long as this Agreement remains in effect, the Company covenants and agrees that it will not, without the prior written consent of the Investor, enter into any other Equity Line of Credit (as defined below) or Variable Rate Transaction (as defined below) with any other party.
Except with respect to the Investor (including the Prior PPA Agreement) or without the Investor’s prior written consent, the Company shall not effect or enter into an agreement to effect any Variable Rate Transaction for so long as any Pre-Paid Advance is outstanding, unless any outstanding Pre-Paid Advance will be fully repaid in connection with such transaction.
From the date hereof until the date this Agreement has been validly terminated in accordance with its terms, without the prior written consent of the Investor, the Company shall not enter into, agree to enter into, or effect any Variable Rate Transaction.

More Definitions of Variable Rate

Variable Rate means a per annum rate equal at all times to the Prime Rate plus the Applicable Margin for Prime Rate Loans, with changes therein to be effective simultaneously without notice or demand of any kind with any change in the Prime Rate.

Variable Rate means, for any day, the higher of (i) Federal Funds Rate for such day plus 0.5% and (ii) the Prime Rate.

Variable Rate means that the per-unit kWh charge for electric power and energy service changes at any time during the term of the contract but does not change more than once per month.

Variable Rate means the rate per annum equal to the Prime Rate per annum as in effect from time to time. The Variable Rate will change on each day that the "Prime Rate" changes.

Variable Rate means a fluctuating rate of interest equal to the Base Rate.

Variable Rate means, for any day, the Prime Rate for such day.

Variable Rate means the variable rate of interest per annum, including the Initial Rate, borne by each Subclass of Auction Rate Notes during the Initial Period for such Subclass, and each Interest Period thereafter as such rate of interest is determined in accordance with the provisions of Article II of this Appendix A.