Examples of Applicable Floating Rate in a sentence
ISDA Determination: [Applicable/Not Applicable] Floating Rate Option: [●]Designated Maturity: [●]Reset Date: [●]( In the case of a LIBOR or EURIBOR based option, the first day of the Interest Period.
All computations of interest for Applicable Floating Rate Loans (including Applicable Floating Rate Loans determined by reference to the Applicable Offered Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed.
Upon receipt of such notice, the Borrowers may revoke any pending request for a borrowing of, conversion to or continuation of Applicable Offered Rate Loans or, failing that, will be deemed to have converted such request into a request for a borrowing of Applicable Floating Rate Loans in the amount specified therein.
Notwithstanding the foregoing, if any amount is not paid when due hereunder, whether at stated maturity, by acceleration or otherwise, such amount that is not paid when due shall thereafter bear interest at a rate per annum equal at all times to two percent (2%) above the Applicable Floating Rate from the date such amount shall be due until such amount shall be paid in full, payable on demand (and in any event in arrears on the date such amount shall be paid in full).
Changes in the rate of interest on that portion of any Advance maintained as a Floating Rate Advance will take effect simultaneously with each change in the Alternate Base Rate or in the Applicable Floating Rate Margin.