Rate Lock Date definition
Examples of Rate Lock Date in a sentence
As contemplated in the conditions set forth in subparagraph 3(B)(4) of the Lease, such Fixed Rate Lock Date is the first Business Day of a calendar month which falls after the projected Base Rent Commencement Date; such Fixed Rate Lock Date does not fall prior to the end of any Base Rent Period which has commenced or will commence before BNPPLC receives this notice; and NAI expects BNPPLC to receive this notice more than ten days prior to such Fixed Rate Lock Date.
The date established in the Rate Lock Request and Confirmation for the occurrence of the Rate Lock, which Rate Lock Date shall not occur not earlier than 60 days prior to the Closing Date.
By this letter, which is given pursuant to subparagraph 3(B)(4) of the Lease, NAI requests that BNPPLC promptly establish a Fixed Rate for a notional amount equal to the Lease Balance as of the date of this letter for use in the calculation of the Effective Rate for all Base Rent Periods commencing on or after the following Fixed Rate Lock Date: , 20___.
The date specified by Purchaser in the Rate Lock Request and Confirmation as the date upon which the Rate Lock expires, which date shall not exceed 30 days from the Rate Lock Date.
The amount of the monthly payment of principal and interest will be determined by Lend▇▇ ▇▇ the Rate Lock Date.
Interest Rate: per annum Rate Lock Date: December , 2019 Par Amount: Not to exceed $3,000,000 Rate Lock Expiration Date: February 15, 2020 Closing Date: On or prior to January 15, 2020 Capitalized terms used but not defined herein shall have the meanings ascribed thereto in the Agreement.
Upon satisfaction of the conditions set forth in the Commitment for setting the interest rate on the Loan, the actual interest rate (the "Applicable Rate") will be set (the "Rate Lock") on a date (the "Rate Lock Date") between now and the closing date of the Loan (the "Closing Date").
Assuming the Loan satisfies the debt service ratios set forth in the preceding paragraph, the rate of interest will be calculated on the Rate Lock Date by adding SEE EXHIBIT A: TERM SHEET, ITEM 4.
Depending upon market conditions on the Rate Lock Date, the Applicable Rate may be different from the Assumed Rate used in approving the application.
In the event the Applicable Rate established on the Rate Lock Date is higher than the Assumed Rate, Lender reserves the right to reduce the Loan Amount to reflect the ability of the Property to carry the debt at the debt service coverage ratios of SEE EXHIBIT A: TERM SHEET, ITEM 3..