Base Rate Advances definition

Base Rate Advances means Advances that bear interest at rates based upon the Base Rate.

Base Rate Advances means advances bearing interest at the Base Rate plus the Applicable Base Rate Margin.

Base Rate Advances. Advances bearing interest calculated by reference to the Base Rate.

Examples of Base Rate Advances in a sentence

• Each Borrowing (other than with respect to Swingline Advances) shall be made on notice, given not later than 11:00 A.M. on the third Business Day prior to the date of the proposed Borrowing in the case of a Borrowing consisting of Eurodollar Rate Advances, or not later than 9:30 A.M. on the date of the proposed Borrowing in the case of a Borrowing consisting of Base Rate Advances, by the Borrower to the Administrative Agent, which shall give to each Lender prompt written notice.

• The Borrower may prepay the Advances after giving by 11:00 a.m. (New York time): (i) in the case of Xxxx Xxxxxxxxx Advances, at least two Business Days’, (ii) in the case of RFR Advances, at least five Business Days’ or (iii) in the case of Alternate Base Rate Advances, same Business Day, irrevocable prior written notice to the Administrative Agent stating the proposed date and aggregate principal amount of such prepayment.

• Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a SOFR Advance of, conversion to or continuation of SOFR Advances to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for an Advance of or conversion to Base Rate Advances.

• Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a SOFR Borrowing of, conversion to or continuation of SOFR Rate Advances to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Advances.

More Definitions of Base Rate Advances

Base Rate Advances means Advances that bear interest based upon the Base Rate.

Base Rate Advances means Advances the rate of interest applicable to which is based upon the Base Rate. “Board” means the Board of Governors of the Federal Reserve System of the United States (or any successor). “Borrower” has the meaning set forth in the preamble to this Agreement.

Base Rate Advances means any Credit Extension on which interest is payable based on the Base Rate in accordance with the terms hereof.

Base Rate Advances based upon the ratings established by S&P and Xxxxx'x for the Index Debt as of the most recent determination date: Applicable Margin Pricing Grid Applicable Margin Revolving and Term S&P Xxxxx'x Facilities ----------- ----------------- Eurodollar Rate Base Rate Advances Advances I: At least BBB and Baa2 1.00% 0.00% II: Below I, but at least BBB- and Baa3 1.25% 0.25% III: Below II, but at least BB+ and Ba1 1.50% 0.50% IV: Below III, but at least BB+ and Ba2 or BB and Ba1 1.75% 0.75% V: Below IV, but at least BB and Ba2 2.00% 1.00% VI: Below V 2.25% 1.25% For purposes of the foregoing (i) if either Xxxxx'x or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence hereof), then such rating agency shall be deemed to have established a rating in Level VI; (ii) except as set forth in the Pricing Grid above, if the ratings established or deemed to have been established by Xxxxx'x or S&P for the Index Debt shall fall within different levels, the applicable percentage will be based on the lower of the two ratings unless one of the two ratings is two or more levels lower than the other, in which case the applicable percentage shall be determined by reference to the level next above that of the lower of the two ratings; and (iii) if the ratings established or deemed to have been established by Xxxxx'x or S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of Xxxxx'x or S&P), such change shall be effective as of the date on which it is first announced by the applicable

Base Rate Advances. (exclusive of any past due principal or interest) from time to time outstanding shall bear interest on each day outstanding at the Base Rate in effect on such day. On each Base Rate Payment Date, Borrower shall pay to the holder hereof all unpaid interest which has accrued on the Base Rate Advances to but not including such Base Rate Payment Date. Each LIBOR Advance (exclusive of any past due principal or interest) shall bear interest on each day during the related Interest Period at the related LIBOR Adjusted Rate in effect on such day. On each LIBOR Rate Payment Date relating to such LIBOR Advance, Borrower shall pay to the holder hereof all unpaid interest which has accrued on such LIBOR Advance to but not including such LIBOR Rate Payment Date. All past due principal of and past due interest on the Advances shall bear interest on each day outstanding at the Late Payment Rate in effect on such day, and such interest shall be due and payable daily as it accrues. Notwithstanding the foregoing provisions of this paragraph: (a) this Note shall never bear interest in excess of the Highest Lawful Rate, and (b) if at any time the rate at which interest is payable on this Note is limited by the Highest Lawful Rate (by the foregoing clause (a) or by reference to the Highest Lawful Rate in the definitions of Base Rate, LIBOR Adjusted Rate, and Late Payment Rate), this Note shall bear interest at the Highest Lawful Rate and shall continue to bear interest at the Highest Lawful Rate until such time as the total amount of interest accrued hereon equals (but does not exceed) the total amount of interest which would have accrued hereon had there been no Highest Lawful Rate applicable hereto.

Base Rate Advances. [Address] Address for notices [Address] APPROVED THIS DAY OF ___________, ____ CHARTER MAC FLOATER CERTIFICATE TRUST I By: FIRST TENNESSEE BANK NATIONAL ASSOCIATION, as Certificate Trust Agent, pursuant to the Certificate Issuer Trust Agreement, of the CHARTER MAC FLOATER CERTIFICATE TRUST I By:________________________________ Name: Title: By:________________________________ Name: Title: APPROVED THIS DAY OF __________, ____ MBIA INSURANCE CORPORATION By:________________________________ Name: Title: EXHIBIT C FORM OF NOTICE OF LIQUIDITY BORROWING [Date] To: BAYERISCHE LANDESBANK GIROZENTRALE, NEW YORK BRANCH as the Liquidity Agent for the Liquidity Banks party to the Agreement referred to below Attention: --------- Ladies and Gentlemen: The undersigned, [Tender Agent], as Tender Agent for the CHARTER MAC FLOATER CERTIFICATE TRUST I (the "Liquidity Borrower"), refers to the Agreement, dated as of May 21, 1998 (the "Agreement," the terms defined therein being used herein as therein defined), among CHARTER MAC OWNER TRUST I (the "Owner Trust"), the Liquidity Borrower, the Tender Agent, certain Liquidity Banks party thereto, BAYERISCHE LANDESBANK GIROZENTRALE, NEW YORK BRANCH, as the Liquidity Agent for said Liquidity Banks and MBIA INSURANCE CORPORATION (the "Surety Provider"), hereby gives you notice, irrevocably, pursuant to Section 2.03 of the Agreement that the undersigned hereby requests a Liquidity Borrowing in the form of a [Funding Advance] [Downgraded Bank Advance] under the Agreement, and in that connection sets forth below the information relating to such Liquidity Borrowing (the "Proposed Funding Advance") [(the "Proposed Downgraded Bank Advance")] as required by Section 2.03 of the Agreement:

Base Rate Advances any Loan bearing interest computed by reference to the Base Rate. Borrowing Base — as at any date of determination thereof, an amount equal to the lesser of: