Examples of Interest Rate in a sentence
Any Interest Rate Election that fails to select an Interest Rate Option shall be deemed to be a request for the Base Rate Option.
For the avoidance of doubt, no terms of any Class of Secured Debt other than the Interest Rate applicable thereto may be modified or supplemented in connection with a Re-Pricing.
Each Interest Rate Election shall be irrevocable and shall specify the aggregate amount of the Loan comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amounts shall be in (x) integral multiples of $100,000 and not less than $500,000 for each Borrowing Tranche under the Term SOFR Rate Option, and (y) integral multiples of $100,000 and not less than $500,000 for each Borrowing Tranche under the Base Rate Option.
Facilities granted to two or more Borrowers severally 6% per annum, or (ii) the Bank's cost of funds, or (iii) the Original Interest Rate applicable to the USD O/D, whichever is the highest, on any sum which is overdrawn in excess of the applicable pre-agreed overdraft limit, whether such excess is allowed by the Bank in the exercise of its discretion or upon the request of the Borrower or otherwise.
Each Interest Rate Election that the Borrower provides related to a Loan at the Term SOFR Rate Option shall be deemed to request an Interest Period of one (1) month.