Floating Rate Note. Unless this Note is specified on the face hereof as a Floating Rate/Fixed Rate Note or a Fixed Rate/Floating Rate Note, this Note (a “Floating Rate Note”) will bear interest at the rate determined by reference to the applicable Interest Rate Basis or Interest Rate Bases: (1) plus or minus the applicable Spread, if any; and/or (2) multiplied by the applicable Spread Multiplier, if any; provided, however, that interest on this Note will not be less than zero. Commencing on the first Interest Reset Date, the rate at which interest on this Floating Rate Note is payable will be reset as of each Interest Reset Date; provided, however, that the interest rate in effect for the period, if any, from the Original Issue Date to the first Interest Reset Date will be the Initial Interest Rate.
Floating Rate Note. (1) If a Note is a Floating Rate Note, interest shall accrue on such Note from the Interest Commencement Date specified in the applicable Pricing Supplement (or from the most recent date to which interest has been paid or made available for payment) on the unpaid principal amount (and, to the extent lawful, on overdue principal (including premium or redemption amount, if any, and, if a Note is an Original Issue Discount Note, the Amortized Face Amount or other amounts payable in respect thereof)) and interest, if any at a rate per annum equal to the Rate of Interest specified in the applicable Pricing Supplement until the first Reset Date specified in the applicable Pricing Supplement, or if none is specified, until the first Interest Payment Date following the Issue Date and thereafter at a rate determined in accordance with the applicable provisions set forth below or in the applicable Pricing Supplement, as specified in the applicable Pricing Supplement, and shall be payable by the Company monthly, quarterly, semi-annually, annually or at such other intervals specified in the applicable Pricing Supplement under “Interest Periods” and on the dates specified in the applicable Pricing Supplement under “Interest Payment Dates” and at maturity or upon earlier redemption or repayment, until the entire principal amount thereof is paid or made available for payment.
Floating Rate Note. The Shipowner agrees that to evidence its obligation to repay all Advances made hereunder and to pay interest accrued thereon, it shall issue and deliver to the Facility Agent the Floating Rate Note. Such Floating Rate Note shall (i) be in the form of Exhibit 2A to the Indenture; (ii) bear the Secretary’s Guarantee, and (iii) be valid and enforceable as to its principal amount at any time to the extent of the aggregate amounts then disbursed and outstanding thereunder.
Floating Rate Note. If the Funding Note is specified on the face hereof as a "Floating Rate Note," interest on the Funding Note shall accrue and be payable in accordance with this Section 3. A Floating Rate Note may be a CD Rate Note, CMT Rate Note, Commercial Paper Rate Note, Constant Maturity Swap Rate Note, Eleventh District Cost of Funds Rate Note, Federal Funds Open Rate Note, Federal Funds Rate Note, LIBOR Note, EURIBOR Note, Prime Rate Note or Treasury Rate Note. If the Funding Note is designated on the face hereof as a Floating Rate Note, the face hereof will specify whether the Funding Note is a Regular Floating Rate Note, Inverse Floating Rate Note or Floating Rate/Fixed Rate Note. For the period from the date of issue to, but not including, the first Interest Reset Date set forth on the face hereof, the interest rate hereon shall be the Initial Interest Rate specified on the face hereof. Thereafter, the interest rate hereon will be reset as of and be effective as of each Interest Reset Date.
