Examples of Base Rate Loans in a sentence
Interest with respect to Base Rate Loans, LIBOR Loans, Term SOFR Loans, Letter of Credit fees and Unused Line Fees hereunder shall be calculated daily and shall be computed on the actual number of days elapsed over a year of 360 days and a 30-day month (unless computation would result in an interest rate in excess of the Maximum Rate, in which event the computation is made on the basis of a year of 365 or 366 days, as the case may be).
Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period with respect to a Benchmark for Dollar, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Term Benchmark Loans 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 Loans.
The U.S. Borrowers shall be deemed to have given at such time a Borrowing Notice to the Administrative Agent requesting U.S. Base Rate Loans under Tranche A - 2 in an aggregate amount equal to the amount of such U.S. Swingline Loan.
All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to Term SOFR) 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, (I) Borrowers may revoke any pending request for a Borrowing, conversion or continuation of U.S. Term SOFR Loans (to the extent of the affected U.S. Term SOFR Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for U.S. Base Rate Loans, and (II) any outstanding U.S. Term SOFR Loans shall convert to U.S. Base Rate Loans at the end of their respective Interest Periods.