Examples of Base Rate Loan in a sentence
Until each Revolving Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Revolving Lender’s Applicable Revolving Percentage of any Swingline Loan, interest in respect of such Applicable Revolving Percentage shall be solely for the account of the Swingline Lender.
The Borrower may on any 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 Swingline Loan (i) shall be made and maintained as a Base Rate Loan and (ii) shall be in a principal amount that is an integral multiple of $100,000 and in a minimum amount of $100,000.
Until and unless the Loan is Converted to a Base Rate Loan pursuant to any provision of this Agreement, the entire Loan shall be and remain a SOFR Rate Loan and the Principal Balance shall accrue interest at the Interest Rate.
Until each Revolving Credit Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Revolving Credit Lender’s Applicable Revolving Credit Percentage of any Swing Line Loan, interest in respect of such Applicable Revolving Credit Percentage shall be solely for the account of the Swing Line Lender.