Interest Type definition

Interest Type when used with respect to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate.

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Interest Type means, when used with respect to any Revolving Loan, whether the rate of interest on such Revolving Loan is determined by reference to the Eurodollar Rate or the Base Rate.

Interest Type refers to the distinction between Revolving Advances bearing interest at the Base Rate and Revolving Advances bearing interest at the Eurodollar Rate.

Examples of Interest Type in a sentence

• Loan Term and Amortization Type Date 20090914 YYYYMMDD Always “19010101” if unknown N/A 31 Interest Type Indicator Indicates whether the interest rate calculation method is simple or actuarial.

• If no election as to the Interest Type of a Borrowing is specified, the requested Borrowing will be a Base Rate Borrowing.

• Thereafter, the Borrower may elect to convert such Borrowing to a different Interest Type or, in the case of a Eurodollar Borrowing, to continue such Borrowing for one or more additional Interest Periods, all as provided in this Section.

• For purposes of this Agreement, Loans and Borrowings may be classified by Interest Type (e.g., a “Eurodollar Loan” or a “Eurodollar Borrowing”).

• Each partial prepayment of a Borrowing shall be in an amount that would be permitted under Section 2.02(b) for a Borrowing of the same Interest Type, except as needed to apply fully the required amount of a mandatory prepayment.

More Definitions of Interest Type

Interest Type when used with respect to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted Term SOFR or the Alternate Base Rate.

Interest Type when used with respect to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Base Rate.

Interest Type has the meaning set forth in Section 1.03.

Interest Type refers to the distinction between Advances bearing ------------- interest at the Base Rate and Advances bearing interest at the Eurodollar Rate.

Interest Type means the distinction between advances bearing interest at the LIBOR Based Rate, Canadian Prime Rate, Canadian US Base Rate and the US Prime Rate.

Interest Type. Cost Center Code: 9999 Interest Accrual:

Interest Type of a Loan refers to whether such Loan is a Euro-Dollar Loan, a CD Loan, a Base Rate Loan, a Money Market LIBOR Loan or a Money Market Absolute Rate Loan. A Loan may be identified by both Class and Interest Type (e.g., a "General Purpose Euro-Dollar Loan" indicates that such Loan is both a General Purpose Loan and a Euro-Dollar Loan). Identification of a Borrowing or Group of Loans by Class and/or Interest Type indicates that such Borrowing or Group of Loans is comprised of Loans of the specified Class and/or Interest Type. The term "Borrowing" denotes the aggregation of Loans to be made to Vencor by one or more Banks pursuant to Article 2 on the same day, all of which Loans are of the same Class and Interest Type (subject to Article 8) and, except in the case of Base Rate Loans, have the same initial Interest Period. Borrowings are classified for purposes hereof either (i) by reference to the pricing of Loans comprising such Borrowing (e.g., a "Euro-Dollar Borrowing" is a Borrowing comprised of Euro-Dollar Loans) or (ii) by reference to the provisions of Article 2 under which participation therein is determined (i.e., a "Committed Borrowing" is a Borrowing under Section 2.01 in which all Banks participate in proportion to their Commitments, while a "Money Market Borrowing" is a Borrowing under Section 2.03 in which one or more Banks participate on the basis of their bids).