FHLB Rate definition

FHLB Rate means the rate per annum quoted by Lender as Lender’s FHLB rate based upon the FHLB Seattle rate as quoted in Bloomberg, or on the FHLB Seattle internet web site at www.FHLBsea.com, or other comparable service selected by Lender for the applicable Interest Period. This definition of FHLB Rate is to be strictly interpreted and is not intended to serve any purpose other than providing an index to determine the rate used herein. It is not necessarily the lowest rate charged by Lender on its loans. If the FHLB Rate becomes unavailable during the term of this Promissory Note, Lender may designate a substitute index after notifying Borrower.

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FHLB Rate means the five (5) year rate as published by the Federal Home Loan Bank of Pittsburgh on (A) the Initial Maturity Date, or if Borrower has elected and qualified for the Extension Option, the Initial Extended Maturity Date, and on (B) the Conversion Date. If the FHLB Rate becomes unavailable, Lender may designate a substitute comparable index after notifying Borrower.

FHLB Rate means the Classic Advance Rate for Fixed Rate Advances for a period of five (5) years for an amount greater than or equal to the Loan Commitment, as such rate is defined and published by the Federal Home Loan Bank of Boston.

Examples of FHLB Rate in a sentence

• As used in this Section 2.4F, the term “Applicable FHLB Rate Period” shall mean five (5) years and the “Applicable FHLB Amortization Period” shall mean twenty (20) years.

• FHLB Rate Loan - the Converted CAPX Loan in the event Borrower elects such Loan to bear interest at the FHLB Rate.

• As used this Section 2.4E, the term “Applicable FHLB Rate Period” shall mean five (5) years.

• FHLB Rate - a fixed rate per annum equal to the sum of (a) the yield on Federal Home Loan Bank consolidated obligations having a maturity and amortization schedule of up to five (5) years, as quoted by the Federal Home Loan Bank on and for the date of the Converted CAPX Loan Note or any subsequent date with respect to which Borrower elects to have the Converted CAPX Loan bears interest at the FHLB Rate, as the case may be, plus (ii) two hundred twenty (220) basis points.

• The rate of interest payable by the Borrower on the Equipment Loans from and after the Conversion Date shall be the FHLB Rate, plus 1.75% per annum.

• With respect to the Converted CAPX Loan, Borrower shall have the option, on written notice delivered to Lender at least two (2) Business Days prior to CAPX Loan Termination Date (or any subsequent date on which Borrower desires and Lender agrees to have the Converted CAPX Loan bear interest at the FHLB Rate), to have the Converted CAPX Loan bear interest on the outstanding principal amount thereof at a fixed rate per annum equal to the FHLB Rate.

More Definitions of FHLB Rate

FHLB Rate means, as of any date of determination, the rate per annum quoted by Lender as its Thirty Day FHLB rate based upon the FHLB Seattle rate as quoted in Bloomberg, or on the FHLB Seattle internet web site at w▇▇.▇▇▇▇▇▇▇.▇▇▇, or other comparable service selected by Lender. This definition of “FHLB Rate” is to be strictly interpreted and is not intended to serve any purpose other than providing an index to determine the interest rate used herein. It is not the lowest rate at which Lender may make loans to any of its customers, now or in the future. If the FHLB Rate becomes unavailable during the term of this Agreement, Lender may designate a substitute index after notifying Borrowers.

FHLB Rate means a fixed rate of interest determined by Lender based upon the Amortizing Advance Rate offered by the Federal Home Loan Bank of New York for instruments having a term of five-year/five-year amortization (or for remaining amortization) most recently available on the day which is two (2) Business Days immediately preceding the date for such determination.

FHLB Rate has the meaning assigned to such term in Section 2.08(c) hereto.

FHLB Rate means the three year fixed rate as set forth in the most recent Weekly Rates Summary published by the Federal Home Loan Bank of Pittsburgh.