Current Pay Rate definition
Current Pay Rate means the lesser of (a) the Interest Rate and (b) three and 15/100 percent (3.15%) per annum.
Current Pay Rate means, for each Interest Period, an interest rate per annum equal to the greater of (A) two and one-half percent (2.5%) in excess of the applicable Benchmark on the day that is two (2) Business Days prior to the commencement of such Interest Period and (B) two and three-quarters of one percent (2.75%). “[***]” means [***]. “[***] Parties” means (i) TPHS Investor LLC, a Delaware limited liability company, (ii) [***].
Current Pay Rate a rate per annum determined in accordance with Sections 2.3 and 2.5 of the Credit Agreement.