Examples of Tranche A Base Rate Loan in a sentence
In the case of a Tranche A Base Rate Loan, interest is charged at the Agent’s Prime Rate plus the Applicable margin of 7.0%; or, in the case of a Tranche A Eurodollar Loan, interest is charged at LIBO plus the Applicable Margin of 8.0%.
If a Default shall have occurred and be continuing, no Tranche A Base Rate Loan may be converted into a Tranche A Eurodollar Loan.
The Borrower may elect to convert all or any part of any Tranche A Eurodollar Loan on the last day of the then current Interest Period relating thereto to a Tranche A Base Rate Loan by giving advance notice to the Agent (which shall promptly notify the Lenders) of such election.
In the absence of such a timely and proper election, the Borrower shall be deemed to have elected to convert such Tranche A Eurodollar Loan to a Tranche A Base Rate Loan pursuant to Section 2.02(e).
All Tranche A Base Rate Loan borrowings shall be in amounts of at least $1,000,000 or the remaining balance of the Aggregate Tranche A Commitments, if less, or any whole multiple of $1,000,000 in excess thereof, and all Tranche A Eurodollar Loans shall be in amounts of at least $1,000,000 or any whole multiple of $1,000,000 in excess thereof.
If a Default shall have occurred and be continuing, each Tranche A Eurodollar Loan shall be converted to a Tranche A Base Rate Loan on the last day of the Interest Period applicable thereto.
All or any part of any outstanding Tranche A Loan may be converted as provided herein, provided that (i) any conversion of any Tranche A Base Rate Loan into a Tranche A Eurodollar Loan shall be (as to each such Tranche A Loan into which there is a conversion for an applicable Interest Period) in amounts of at least $1,000,000 or any whole multiple of $1,000,000 in excess thereof and (ii) no Default shall have occurred and be continuing.
Subject to the provisions made in this Section 2.02(e), the Borrower may elect to convert all or any part of any Tranche A Base Rate Loan at any time and from time to time to a Tranche A Eurodollar Loan by giving advance notice as provided in Section 2.02(c) to the Agent (which shall promptly notify the Lenders) of such election.