Swing Loan Rate definition
Examples of Swing Loan Rate in a sentence
Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrowers may borrow from any Swing Bank under this Section 2.4, prepay under Section 3.3, and reborrow under this Section 2.4. Each Swing Loan shall bear interest at the Swing Loan Rate.
The Swing Loan Rate shall be adjusted automatically as of the opening of business of the effective date of each change in the Federal Funds Rate Basis to account for such change.
Nordson shall pay interest, for the sole benefit of Agent (and any Bank that has purchased a participation in such Swing Loan), on the unpaid principal amount of each Swing Loan outstanding from time to time from the date thereof until paid at the Derived Swing Loan Rate applicable to such Swing Loan.
Borrower shall pay interest, for the sole benefit of Agent (and any Lender that has purchased a participation in such Swing Loan), on the unpaid principal amount of each Swing Loan outstanding from time to time from the date thereof until paid at the Derived Swing Loan Rate applicable to such Swing Loan.
Interest on Loans to which the Base Rate Option or the Daily LIBOR Swing Loan Rate applies shall be due and payable in arrears on each Payment Date.
Each Swing Loan Request shall be irrevocable and shall specify (i) the proposed Borrowing Date, (ii) the principal amount of such Swing Loan, which shall be not less than $100,000 and (iii) whether the Base Rate Option applicable to Revolving Credit Loans or the Daily LIBOR Swing Loan Rate shall apply to such Swing Loan.
Except as otherwise provided in Section 3.1(b), Swing Loans shall bear interest at the Swing Loan Rate.
US Borrower shall pay interest to Agent, for the sole benefit of the Swing Line Lender (and any US Lender that shall have purchased a participation in such Swing Loan), on the unpaid principal amount of each Swing Loan outstanding from time to time from the date thereof until paid at the Derived Swing Loan Rate applicable to such Swing Loan.
Borrower shall pay interest to Agent, for the sole benefit of the Swing Line Lender (and any Lender that shall have purchased a participation in such Swing Loan), on the unpaid principal amount of each Swing Loan outstanding from time to time from the date thereof until paid at the Derived Swing Loan Rate applicable to such Swing Loan.
Borrower shall pay interest, for the sole benefit of Agent (and any Bank that has purchased a participation in such Swing Loan), on the unpaid principal amount of each Swing Loan outstanding from time to time from the date thereof until paid at the Derived Swing Loan Rate applicable to such Swing Loan.