Fluctuating Rate definition

Fluctuating Rate means a fluctuating interest rate per annum equal to the Base Rate in effect from time to time minus one-half of one percent (1/2%) per annum.
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Fluctuating Rate means, as of any date of determination, the rate of interest which is equal to the greater of (a) the LIBOR Quoted Rate for one month loans on such date of determination plus the Applicable Margin, and (b) the LIBOR Quoted Rate for 12-month loans on such date of determination plus the Applicable Margin.
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Examples of Fluctuating Rate in a sentence

  • The Company may not prepay any Loan (other than a Fluctuating Rate Loan) prior to the last day of the Interest Period therefor.

  • If the Company furnishes such notice but no election is made as to the Interest Period to be applicable thereto, the Loan will automatically then be made as a Fluctuating Rate Loan until such required information is furnished pursuant to the terms hereof.

  • In the event that the Company shall not give notice to continue a Loan into a subsequent Interest Period, such Loan (unless prepaid) shall automatically be converted into a Fluctuating Rate Loan.

  • If the Borrower furnishes such notice but no election is made as to the type of Loan or the Interest Period to be applicable thereto, the Loan will automatically then be made as a Fluctuating Rate Loan until such required information is furnished pursuant to the terms hereof.

  • If the Borrower furnishes such notice but no election is made as to the Type of Loan or the Interest Period to be applicable thereto, the Loan will automatically then be made as a Fluctuating Rate Loan until such required information is furnished pursuant to the terms hereof.

  • Notwithstanding anything to the contrary contained above, if an Event of Default shall have occurred and is continuing, no LIBOR Loan may be continued into a subsequent Interest Period and no Fluctuating Rate Loan may be converted into a LIBOR Loan.

  • In the event that the Borrower shall not give notice to continue any LIBOR Loan into a subsequent Interest Period or convert any such Loan into a Loan of another type, on the last day of the Interest Period thereof, such Loan (unless prepaid) shall automatically be converted into a Fluctuating Rate Loan.

  • Notwithstanding anything to the contrary contained above, if an Event of Default shall have occurred and is continuing, no Loan may be continued into a subsequent Interest Period and no Fluctuating Rate Loan may be converted into a Fixed Rate Loan.

  • The Borrower may prepay any Fluctuating Rate Loan in whole or in part without premium or penalty; provided, however, that each partial prepayment on account of any Fluctuating Rate Loan shall be in an amount not less than $100,000 or an integral multiple of $100,000 in excess thereof.

  • The Interest Period applicable to any Eurodollar Loan resulting from a conversion or continuation shall be specified by the Borrower in the irrevocable notice delivered by the Borrower pursuant to this Agreement; provided, however, that, if such notice does not specify the Interest Period to be applicable thereto, the Loan shall automatically be converted into, or continued as, as the case may be, a Fluctuating Rate Loan until such required information is furnished pursuant to the terms hereof.

Related to Fluctuating Rate

  • CB Floating Rate means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month LIBOR Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including the effective date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the higher of:

  • Funding Rate means any individual rate notified by a Lender to the Facility Agent pursuant to sub-paragraph (ii) of paragraph (a) of Clause 10.3 (Cost of funds).

  • Fed Funds Rate means, for any period, a fluctuating interest rate (expressed as a per annum rate and rounded upwards, if necessary, to the next 1/16 of 1%) equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rates are not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by BNPLC's Parent from three Federal funds brokers of recognized standing selected by BNPLC's Parent. All determinations of the Fed Funds Rate by BNPLC's Parent shall, in the absence of clear and demonstrable error, be binding and conclusive upon NAI.