Term Floating Rate means an annual rate equal to the sum of the Prime Rate plus the Spread, which annual rate shall change when and as the Prime Rate changes.
Term Floating Rate means an annual rate of interest equal to two and three-quarters percent (2.75%). The Term Floating Rate shall change when and as the Base Rate changes.
Term Floating Rate means an annual rate equal to the sum of the Base Rate plus six percent (6.00%), which annual rate shall change when and as the Base Rate changes.
Examples of Term Floating Rate in a sentence
FIs should not extend Revolving Underwriting Facility to Short Term Floating Rate Notes / Bonds or Debentures issued by corporate entities.
In case of ICICI Prudential Long Term Floating Rate Plan returns have been computed using Plan A - Growth Option.
In case of Long Term Floating Rate Plan returns have been computed using Plan A - Growth Option.
Similarly in case of Prudential ICICI Long Term Floating Rate Plan returns have been computed using Plan A - Growth Option.
Except as set forth in Sections 2.8(d), 2.8(f) and 2.8(g), the outstanding principal balance of the Term Note shall bear interest at the Term Floating Rate.
More Definitions of Term Floating Rate
Term Floating Rate contained in Section 1.1 of the Credit Agreement is hereby deleted in its entirety and replaced as follows:
Term Floating Rate means an annual rate equal to the sum of the Prime Rate plus one and three-quarters of one percent (1.75%). The Term Floating Rate shall automatically be reduced to an annual rate equal to the sum of the Prime Rate plus three-quarters of one percent (0.75%) on the first day of the first full month following Lender's receipt of Borrower's 2001 fiscal year audited financial statements complying with Section 6.1(a) below, if but only if (i) said financial statements indicate that the Borrower and the Covenant Entities have achieved a Net Income for the Borrower's 2001 fiscal year of not less than $250,000.00, (ii) said financial statements indicate that the Borrower and the Covenant Entities increased their aggregate Net Worth during Borrower's 2001 fiscal year by not less than $250,000.00, and (iii) there is not a then existing Event of Default or Default Period. If but only if said reduction is not achieved as provided above, the Term Floating Rate shall automatically be adjusted on the first day of the first full month following Lender's receipt of Borrower's audited financial statements complying with Section 6.1(a) below in any year subsequent to Borrower's 2001 fiscal year, to an annual rate equal to the sum of the Prime Rate plus three-quarters of one percent (0.75%) in the event that (i) said financial statements indicate that the Borrower and the Covenant Entities have achieved a Net Income for any such fiscal year of not less than $600,000.00, (ii) said financial statements indicate that the Borrower and the Covenant Entities increased their aggregate Net Worth during any such fiscal year by not less than $600,000.00, and (iii) there is not a then existing Event of Default or Default Period. The Term Floating Rate shall change when and as the Prime Rate changes.
Term Floating Rate through and until January 1, 1999, means an annual rate equal to the sum of the Base Rate plus three-quarters of one percent (.75%). From and after January 1, 1999, the "Term Floating Rate" means an annual rate of interest equal to two and three-quarters percent (2.75%). The Term Floating Rate shall change when and as the Base Rate changes.
Term Floating Rate means an annual rate equal to the sum of the Prime Rate plus three and three-quarters of one percent (3.75%). The Term Floating Rate shall automatically be reduced to an annual rate equal to the sum of the Prime Rate plus two and three-quarters of one percent (2.75%) on the first day of the first full month following Lender's receipt of Borrower's 2002 fiscal year audited financial statements complying with Section 6.1(a) below, if but only if (i) said financial statements indicate that the Borrower and the Covenant Entities have achieved a Net Loss (exclusive of the Fiscal Year 2002 Non-Cash Expenses) for the Borrower's 2002 fiscal year of not more than $600,000.00, (ii) said financial statements indicate that the Borrower and the Covenant Entities decreased their aggregate Net Worth (exclusive of the Fiscal Year 2002 Non-Cash Expenses) during Borrower's 2002 fiscal year by not more than $600,000.00, and (iii) there is not a then existing Event of Default or Default Period, provided however, notwithstanding the above, the Term Floating Rate shall automatically be reduced to an annual rate equal to the sum of the Prime Rate plus three-quarters of one percent (0.75%) on the first day of the first full month following Lender's receipt of Borrower's 2002 fiscal year audited financial statements complying with Section 6.1(a) below, if but only if (i) said financial statements indicate that the Borrower and the Covenant Entities have achieved a Net Income for the Borrower's 2002 fiscal year of not less than $600,000.00, (ii) said financial statements indicate that the Borrower and the Covenant Entities increased their aggregate Net Worth during Borrower's 2002 fiscal year by not less than $600,000.00, and (iii) there is not a then existing Event of Default or Default Period. If but only if said reduction is not achieved as provided above, the Term Floating Rate shall automatically be adjusted on the first day of the first full month following Lender's receipt of Borrower's audited financial statements complying with Section 6.1(a) below in any year subsequent to Borrower's 2002 fiscal year, to an annual rate equal to the sum of the Prime Rate plus three-quarters of one percent (0.75%) in the event that (i) said financial statements indicate that the Borrower and the Covenant Entities have achieved a Net Income (exclusive of the Non-Cash Warrant Expenses) for any such fiscal year of not less than $600,000.00, (ii) said financial statements indicate that the Borr...
Term Floating Rate means collectively, the Equipment Floating Rate and the Real Estate Floating Rate.
Term Floating Rate means an annual rate equal to the sum of the Prime Rate plus one and one-half percent (1.5%), which annual rate shall change when and as the Prime Rate changes, provided however, if but only if, (i) there is not a then existing Event of Default or Default Period and (ii) LPC closes the Transaction for a sales price which is not less than $4,000,000.00 which includes a cash payment at closing of not less than $2,000,000.00, then the Term Floating Rate shall be reduced to an annual rate equal to the sum of the Prime Rate plus one percent (1%) which annual rate shall change when and as the Prime Rate changes, said reduction to be effective, if at all, on the later of (x) the closing of the Transaction, or (y) March 31, 2000.
Term Floating Rate means, effective as of October 1, 1999, an annual rate equal to the Prime Rate plus two percent (2.0%), which rate shall change when and as the Prime Rate changes."