Floating Rate Interest Rate definition
Examples of Floating Rate Interest Rate in a sentence
The amount of the interest for each day that the ROARS are outstanding during the Floating Rate Period will be calculated by dividing the Floating Rate Interest Rate in effect for such day by 360 and multiplying the result by the Dollar Price.
If prior to May 31, 1999, the Borrower should select the Floating Rate or the LIBOR Fixed Rate to be charged on the Loan, the Borrower will be required to purchase an interest rate cap, in the case of a Floating Rate Interest Rate Election, and/or an interest rate swap, in the case of a LIBOR Fixed Rate Interest Rate Election.
Each Request for Advance shall be irrevocable upon its receipt by the Bank and in the case of a Floating Rate Interest Rate Election, shall be effective the day of such receipt if such day is a business day and if not, the next succeeding business day, and in the case of a Libor Fixed Rate Interest Rate Election, shall become effective three (3) business days after the Bank receives said Request for Advance.
The Interest Rate to Maturity and the Floating Rate Interest Rate, if any, for the Securities announced by the Remarketing Dealer, absent manifest error, shall be binding and conclusive upon the beneficial owners of the Securities, the Company and the Trustee.