fixed rate facilities Sample Clauses
A fixed rate facilities clause establishes that the interest rate on a loan or credit facility will remain constant throughout the agreed term. In practice, this means that borrowers and lenders agree upfront on a specific interest rate, which does not fluctuate with market changes or benchmark rates during the life of the facility. This arrangement provides predictability for both parties, allowing borrowers to budget accurately for interest payments and protecting them from potential rate increases, while lenders are assured of a steady return.
fixed rate facilities. Please see Part 2 for terms that apply only to those facilities.
fixed rate facilities. WARNING ABOUT FIXED RATE FACILITIES
15.1 When this clause applies
15.2 Locking a fixed rate
fixed rate facilities. Warning about fixed rate facilities - If you repay all or any part of the fixed rate facility (including after we take enforcement action), or you request a change to a variable interest rate before the end of the fixed rate term, you must pay break costs in accordance with clause
fixed rate facilities. If your Loan is subject to a fixed interest rate, that interest rate will apply for the full term of the Loan. Depending upon which fixed rate option you have selected, the following provisions will also apply:
(a) Absolute Rate Where an Absolute Rate has been selected, the Interest Rate applicable to the Loan shall be the Absolute Rate. The Absolute Rate set out in the Financial Summary is only available if the Loan is advanced on or prior to the Cut-Off Date specified in the Financial Summary. If you do not draw down the Loan by the Cut-Off Date, you must notify us that you still wish to draw down the Loan. Upon receipt of your advice, we will provide you with a revised Absolute Rate and Cut-Off Date. The revised Absolute Rate will only be available until the revised Cut-Off Date. You may exercise the right to seek a revised Interest Rate on multiple occasions. This clause operates subject to clause 1.4.
fixed rate facilities the interest rate which will apply to your fixed rate facility will not be changed during the fixed rate period of the facility. The Bank has the right to review the interest margin once your fixed interest rate period has ended. The interest margin will be reviewed and may be varied at the review of your facility.