Fixed Rate Options Clause Samples
The Fixed Rate Options clause defines the specific interest rates or benchmarks that will be used to calculate fixed-rate payments under an agreement. It typically lists the eligible fixed rates, such as a set percentage or a published rate for a certain period, and may specify how and when these rates are determined or reset. By clearly outlining which fixed rates apply, this clause ensures both parties understand the basis for payment calculations, thereby reducing ambiguity and potential disputes over interest rate determination.
Fixed Rate Options. The interest rate for the Fixed Rate Options and the Unused Commitment Fee are per annum rates and are calculated on the basis of the actual number of days elapsed during the year for a 360 day year. If any payment date is not a Business Day, then payment shall be due on the next succeeding Business Day.
Fixed Rate Options. A Fixed Rate Loan Segment may be priced at a fixed rate equal to the 1-, 3- or 6-Month Fixed Rate Options, as defined herein, plus the Applicable Margin. With these Fixed Rate Options: (a) rates may be fixed for an Interest Period of 1-, 3- or 6-months; and (b) rates may only be fixed on a Pricing Date to take effect on such Pricing Date. For purposes hereof, the “1-, 3- and 6- Month Fixed Rate Options” means the LIBOR rates for the corresponding Interest Period.
Fixed Rate Options. In addition to an interest rate tied to the Prime Rate, at Borrower's option, portions of the outstanding principal balance of (i) the Line of Credit Facility may bear interest tied to the Eurodollar Rate from time to time offered by Bank, and (ii) the Term Loan may bear interest tied to the Eurodollar Rate or the Amortizing Term Loan Fixed Rate from time to time offered by Bank. The fixed rates are more fully explained in the Fixed Rate Option Letters executed in connection with this Agreement, all terms of which are incorporated by this reference.
Fixed Rate Options