Term Base Rate Loan means any portion of the Term Loan which bears interest at a rate determined by reference to the Base Rate.
Examples of Term Base Rate Loan in a sentence
In the case all or any portion of the Term Loan is to be a Term Base Rate Loan or a Term Fixed Rate Loan, the Borrower shall so notify the Agent no later than 12:00 p.m. (noon) (St. Louis, Missouri time) as of the date of such Loan.
Loans may be identified by both Class and Type (e.g., a "Term Base Rate Loan" is a Loan which is both a Term Loan and a Base Rate Loan).
Interest on a Term Base Rate Loan shall be due monthly in arrears commencing on the first day of the month following the Conversion Date and on the same day of each and every month thereafter until the Term Maturity Date.
A Term Loan shall be considered a Term Base Rate Loan unless the Borrower notifies the Agent that it is selecting another Type of Term Loan.
Term Base Rate Loan - that portion of the Term Loan or Capital Expenditure Loans which bear interest at the Term Base Rate.