Basic Interest definition

Basic Interest means the fixed rate of interest payable on the outstanding balance of each Loan at the applicable Designated Rate.

Basic Interest means the rate of interest payable on the outstanding balance of each Loan at the applicable Designated Rate.

Basic Interest means the accrued interest due and payable on the outstanding Loan Amount as calculated at the Designated Rate.

Examples of Basic Interest in a sentence

• Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used.

• Each payment on and any other credits with respect to principal, Basic Interest and all other sums outstanding under any Loan Document shall be evidenced by entries in such records.

• Each payment on and any other credits with respect to principal, Basic Interest, Terminal Payments and all other sums outstanding under any Loan Document shall be evidenced by entries in such records.

• Except as otherwise specified in the applicable Note and/or Supplement, Basic Interest on the outstanding principal balance of each Loan shall accrue daily at the Designated Rate from the Borrowing Date.

• Principal, Basic Interest, Terminal Payments and all other sums owed under any Loan Document shall be evidenced by entries in records maintained by Lender for such purpose.

More Definitions of Basic Interest

Basic Interest shall have the meaning given it in Section 2(a) below.

Basic Interest the meaning given to it in paragraph 2.6.

Basic Interest as defined in Section 2.5 hereof.

Basic Interest means the component of the Applicable Rate hereunder comprised of the Prime Rate plus 9%; this is the component of interest of this Debenture which is payable monthly, in cash, to the extent permitted under the July Senior Lender Intercreditor Agreement.

Basic Interest. Rate: (i) prior to the making of the End of Construction Advance, the variable interest rate per annum, adjusted as of each Base Rate Determination Date, equal to the Base Rate in effect as of each Base Rate Determination Date plus 450 basis points, but in no event shall the Basic Interest Rate, prior to the making of the End of Construction Advance, exceed the rate permitted by the Applicable Usury Law or fall below 5.5% per annum and (ii) upon and at all times after the making of the End of Construction Advance, the variable interest rate per annum, adjusted as of each Base Rate Determination Date, equal to the Base Rate in effect as of each Base Rate Determination Date plus 350 basis points, but in no event shall the Basic Interest Rate, upon and at all times following the making of the End of Construction Advance, exceed the rate permitted by the Applicable Usury Law or fall below 5% per annum. Bluegreen: Bluegreen Corporation, a Florida corporation and formerly a Massachusetts corporation. Bluegreen Inc.: Bluegreen Vacation Club, Inc., a Florida nonprofit corporation, and its successors and assigns, which was organized and formed to manage and operate the Vacation Club and with respect to which each Purchaser becomes a Class A Member thereof upon the purchase of Timeshare Inventory.

Basic Interest means interest accruing at the annual rate of fourteen percent (14%) per annum, compounded quarterly, as set forth in the Note and on the amount of the Indebtedness set forth in the Note.

Basic Interest means, for any period of reference during the term of this Note, interest at the LIBOR-Based Rate on the principal balance from time to time remaining unpaid.