Floating Rate Loan definition
Floating Rate Loan means a Loan which bears interest at the Floating Rate.
Floating Rate Loan means a Loan, or portion thereof, which bears interest at the Floating Rate.
Floating Rate Loan means a Loan which, except as otherwise provided in Section 2.13, bears interest at the Alternate Base Rate.
Examples of Floating Rate Loan in a sentence
Except for Swingline Loans, Agent shall endeavor to notify US Lenders or UK Lenders, as applicable, of each applicable Notice of Borrowing (or deemed request for a Borrowing) by 1:00 p.m. (Applicable Time Zone) on the proposed funding date for a Floating Rate Loan or by 3:00 p.m. (Applicable Time Zone) two Business Days before a proposed funding of an Interest Period Loan.
Each Notice of Borrowing is irrevocable and must specify (A) the Borrowing amount, (B) the requested funding date (which must be a Business Day), (C) whether the Borrowing is to be made as a Floating Rate Loan or an Interest Period Loan, and (D) in the case of an Interest Period Loan, the applicable Interest Period (which shall be deemed to be one month if not specified).
More Definitions of Floating Rate Loan
Floating Rate Loan means any Loan which bears interest at the Floating Rate.
Floating Rate Loan. A Loan that is an Eligible Loan where the interest rate payable by the Obligor thereof is based on the Company Prime Rate or the Company LIBOR Rate, plus some specified interest percentage in addition thereto, and the Loan provides that such interest rate will reset immediately upon any change in the related Company Prime Rate or Company LIBOR Rate.
Floating Rate Loan means a Loan which bears interest at the Alternate Base Rate.
Floating Rate Loan or “Floating Rate Advance” means a Loan which bears interest at the Floating Rate.
Floating Rate Loan means any Loan and any portion of the Loan Balance which the Borrower has requested, in the initial Borrowing Request for such Loan or a subsequent Borrowing Request for such portion of the Loan Balance, bearing interest at the Floating Rate, or which pursuant to the terms hereof is otherwise required to bear interest at the Floating Rate.
Floating Rate Loan means any Loan bearing interest at the Floating Rate.
Floating Rate Loan a Base Rate Loan or a Canadian Prime Rate Loan.