Revolving Credit Rate definition

Revolving Credit Rate shall have the meaning assigned to it in Section 1.5(a).

Revolving Credit Rate means a fluctuating rate that, when annualized, is equal to the greatest of (A) the Prime Rate plus three and one quarter percent (3.25%), (B) the LIBOR Rate plus five and three quarter percent (5.75%), and (C) six and one half percent (6.50%).

Revolving Credit Rate. As defined in Section 2.3 hereof.

Examples of Revolving Credit Rate in a sentence

• After Conversion, interest shall accrue on the principal outstanding from time to time at a variable rate, which shall fluctuate on a monthly basis, which is equal to the Revolving Credit Rate plus .25%.

• Each Option entitles the holder to one ordinary Share in the capital of the Company, deemed fully paid.

• After an Event of Default has occurred, interest shall accrue: (i) with respect to the fixed rate Notes, on the entire outstanding balance of principal and interest at a fluctuating rate equal to the Revolving Credit Rate plus four percent (4.00%); and (ii) as to the floating rate Notes, on the principal loan amount thereof at a rate per annum equal to three and one-half percent (3.5%) above New York Prime.

• Interest shall accrue on the Principal Loan Amount outstanding from time to time at a variable rate per annum (the "Revolving Credit Rate") equal to the lesser of (a) the National Prime Rate minus the Applicable Margin, or (b) the LIBOR Rate plus the Applicable Margin.

• The interest rate shall change whenever the applicable Base Rate, the Applicable Revolving Credit Rate for Base Rate Loans, the Eurodollar Rate, the LIBOR Reference Rate or the Applicable Revolving Credit Rate for Eurodollar Loans changes.

More Definitions of Revolving Credit Rate

Revolving Credit Rate. The Base Rate minus the applicable margin as determined pursuant to Section 2.3.

Revolving Credit Rate. The Wall Street Journal Prime Rate plus 1%, or LIBOR plus 275 basis points Borrowing Base: 87% of the net present value of Borrower's Eligible Lease Receivables. -------------------------------------------------------------------------------- The Loan described generally here is established and governed by the terms and conditions set forth below in this Agreement and the other Loan Documents, and if there is any conflict between this general description and the express terms and conditions below or elsewhere in the Loan Documents, such other express terms and conditions shall control.

Revolving Credit Rate means a per annum rate of interest equal to the following:

Revolving Credit Rate means a fluctuating rate that, when annualized, is equal to the greatest of (A) the Prime Rate plus the “Prime Rate Index”, (B) the LIBOR Rate plus the “LIBOR Index”, and (C) the “Rate Floor”, as indicated in the chart below: Rolling 12-Month EBITDA Prime Rate Index LIBOR Index Rate Floor Less than $1,000,000 Three percent (3.00%) Five and one half percent (5.50%) Six and one quarter percent (6.25%) $1,000,000 or more but less than $1,500,000 Two and three quarters percent (2.75%) Five and one quarter percent (5.25%) Six percent (6.00%) $1,500,000 or more Two and one half percent (2.50%) Five percent (5.00%) Five and three quarters percent (5.75%) The Prime Rate Index, LIBOR Index and Rate Floor will be determined by Lender based on Borrower’s EBITDA for the twelve (12) consecutive calendar months ending on the last day of each Fiscal Quarter using the financial information contained in Borrower’s quarterly financial statements delivered to Lender pursuant to Section 6.5 (the “Rolling 12-Month EBITDA”). Lender will determine Borrower’s Rolling 12-Month EBITDA promptly after receipt of Borrower’s quarterly financial statements, but in no event later than five (5) Banking Days following receipt, and will so notify Borrower of Lender’s determination, which will be conclusive absent manifest error. If the Revolving Credit Rate is adjusted based on Lender’s calculation of the Rolling 12-Month EBITDA, the Revolving Credit Rate will be adjusted as of the first (1st) Banking Day following Lender’s receipt of the applicable quarterly financial statements delivered by Borrower. Notwithstanding anything to the contrary contained herein, in the event Borrower fails to deliver quarterly financial statements to Lender as described in Section 6.5 within fifty (50) calendar days of the end of a Fiscal Quarter, the Prime Rate Index, LIBOR Index and Rate Floor shall be determined as if Borrower’s Rolling 12-Month EBITDA is less than $1,000,000 for the 12-month period ending on the last day of such Fiscal Quarter, and any adjustment of the then-applicable interest rate shall occur as of the forty fifth (45) calendar day following the end of the immediately preceding Fiscal Quarter.

Revolving Credit Rate. The floating interest rate announced from time to time by FNB-O as its "National Base Rate." The National Base Rate is set by FNB-O, solely in its discretion, to reflect generally the rates charged by national money center banks as their reference rates. (Previously, the rate was announced by FNB-O as its "New York Base Rate.") Rates charged by FNB-O may be at, above or below the National Base Rate, as determined by FNB-O as to each respective customer.

Revolving Credit Rate shall have the meaning assigned to it in Section 1.5(a). "Software" means all "software" as such term is defined in the Code, now owned or hereafter owned by any Person, including all computer programs and all supporting information provided in connection with a transaction related to any program.

Revolving Credit Rate means an annual rate of interest (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the higher of: (a) the sum of (i) the Base LIBOR Rate multiplied by the Statutory Reserve Rate plus