Floating Interest Rate Loan definition

Floating Interest Rate Loan means the Loan at such time as the interest thereon accrues at a rate of interest based on the Floating Interest Rate.
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Floating Interest Rate Loan means the Loan at such time as the interest thereon accrues at a rate of interest based on the Floating Interest Rate; provided, however, in no event shall LIBOR be deemed to be less than zero percent (0%).
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Examples of Floating Interest Rate Loan in a sentence

  • Borrower hereby agrees promptly to pay Lender, upon demand, any additional amounts necessary to compensate Lender for any costs incurred by Lender in making any conversion in accordance with this Agreement, including, without limitation, any interest or fees payable by Lender to lenders of funds obtained by it in order to make or maintain the Floating Interest Rate Loan hereunder.

  • Borrower hereby agrees promptly to pay Administrative Agent for the account of such Lender, upon demand, any additional amounts necessary to compensate such Lender for any costs incurred by such Lender in making any conversion in accordance with this Agreement, including, without limitation, any interest or fees payable by such Lenders to lenders of funds obtained by it in order to make or maintain the Floating Interest Rate Loan hereunder.

  • Borrower hereby agrees promptly to pay Lender, within five (5) Business Days following written demand, any additional amounts reasonably necessary to compensate Lender for any out-of-pocket costs reasonably incurred by Lender in making any conversion in accordance with this Agreement, including, without limitation, any interest or fees payable by Lender to lenders of funds obtained by it in order to make or maintain the Floating Interest Rate Loan hereunder.

  • In the event the condition necessitating the cancellation of Lender’s obligation to make a Floating Interest Rate Loan hereunder shall cease, the Loan shall resume its characteristics as a Floating Interest Rate Loan in accordance with the terms hereof from and after the first day of the Interest Period next following such cessation.

Related to Floating Interest Rate Loan

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Reference Rate Loan means any Committed Loan that bears interest at a rate determined with reference to the Reference Rate.

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date; and

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Term SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Term SOFR (other than a Loan for which clause (c) of the definition of Base Rate is used to determine Base Rate).

  • LIBOR Interest Period means, with respect to a LIBOR Advance, a period of one, two, three or six months, as selected in advance by the Borrower.

  • LIBOR Interest Rate means the rate per year (rounded upward to the next one-sixteenth (1/16th) of one percent (0.0625%), if necessary) determined by CNB to be the quotient of (a) the LIBOR Base Rate divided by (b) one minus the Eurocurrency Reserve Requirement for the Interest Period; which is expressed by the following formula: LIBOR Base Rate

  • Adjustable Rate Mortgage Loan A Mortgage Loan serviced pursuant to this Agreement under which the Mortgage Interest Rate is adjusted from time to time in accordance with the terms and provisions of the related Mortgage Note.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • Eurodollar Interest Period or "Interest Period" shall mean, with respect to a Eurodollar Loan, a period of one, two, three or six months commencing on a Business Day selected by the Borrowers pursuant to this Agreement. Such Eurodollar Interest Period shall end on the day which corresponds numerically to such date one, two, three or six months thereafter, provided, however, that if there is no such numerically corresponding day in such next, second, third or sixth succeeding month, such Eurodollar Interest Period shall end on the last Business Day of such next, second, third or sixth succeeding month. If a Eurodollar Interest Period would otherwise end on a day which is not a Business Day, such Eurodollar Interest Period shall end on the next succeeding Business Day, provided, however, that if said next succeeding Business Day falls in a new calendar month, such Eurodollar Interest Period shall end on the immediately preceding Business Day.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Floating Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Eurocurrency Rate Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars or in an Agreed Currency which bears interest as provided in Section 2.07(b) or a Local Currency Advance which bears interest as provided in Section 2.07(b) and the Local Currency Addendum.