Base Rate definition

Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of:
Base Rate means, for any day, the rate per annum equal to the higher of (a) the Federal Funds Rate for such day plus one-half of one percent (0.5%) and (b) the Prime Rate for such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Rate.
Base Rate means for any day a fluctuating rate per annum equal to the higher of (a) the Federal Funds Rate plus 1/2 of 1% and (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate.” The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.

Examples of Base Rate in a sentence

  • The Borrower shall give the Administrative Agent at least (x) 3 U.S. Government Securities Business Days in the case of a SOFR Loan or (y) 3 Business Days in the case of a Base Rate Loan, prior written notice of the prepayment of any Loan.

  • The Borrower may on any U.S. Government Securities Business Day, upon the Borrower’s giving of a Notice of Conversion to the Administrative Agent by telecopy, electronic mail or other similar form of communication, Convert all or a portion of a Loan of one Type into a Loan of another Type; provided, however, a Base Rate Loan may not be Converted into a SOFR Loan if a Default or Event of Default exists.

  • Each Notice of Conversion shall be given not later than (i) in the case of a Conversion to Base Rate Loans, 12:00 p.m. Central time 1 Business Day prior to the date of such proposed Conversion, (ii) in the case of a Conversion of Term SOFR Loans, 12:00 p.m. Central time 3 U.S. Government Securities Business Days prior to the date of such proposed Conversion and (iii) in the case of a Conversion to Daily Simple SOFR Loans, 10:00 a.m. Central time on the date of such proposed Conversion.

  • Government Securities Business Day in the case of a SOFR Loan or (y) one Business Day in the case of a Base Rate Loan, prior to the specified effective date).

  • In such event, the Borrower shall, at the request of the Administrative Agent, promptly pay any amount reasonably expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent, together with interest thereon from the date of such expenditure until paid at the interest rate applicable to Base Rate Loans or at the Post-Default Rate if then applicable under Section 2.5.(a).


More Definitions of Base Rate

Base Rate means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (c) the Eurodollar Rate plus 1.00%. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.
Base Rate means, at any time, the higher of (x) the Prime Rate or (y) the rate which is 1/2 of 1% in excess of the Federal Funds Effective Rate.
Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the higher of:
Base Rate means, for any day, a rate per annum equal to the higher of (i) the Prime Rate for such day and (ii) the sum of 1/2 of 1% plus the Federal Funds Rate for such day.
Base Rate means, for any period, a fluctuating interest rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the highest of:
Base Rate means for any day, a rate of interest per annum equal to the higher of (i) the Prime Lending Rate for such day and (ii) the sum of the Federal Funds Rate for such day plus 1/2 of 1% per annum.
Base Rate means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.50% per annum, (b) the Prime Rate, (c) the Eurocurrency Rate for a one-month Interest Period plus 1.00% per annum and (d) with respect to Initial Term Loans only, 2.00% per annum; provided that, in no event shall the Base Rate be less than 0%.