Variable Rate definition

Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.60%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

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Variable Rate means, for any day, the higher of (a) the Federal Funds Rate for such day plus 1/4 of one percent and (b) the Prime Rate for such day.

Variable Rate shall have the respective meaning as it is defined for each facility under Section 2, hereof.

Examples of Variable Rate in a sentence

From the date hereof until such time as the Note is fully converted or fully repaid, the Company shall be prohibited from effecting or entering into an agreement involving a Variable Rate Transaction.
If the Company enters into a Variable Rate Transaction, the Company shall be deemed to have issued Ordinary Shares or Ordinary Share Equivalents at the lowest possible conversion or exercise price at which such securities may be converted or exercised.
For so long as the Shares or Warrants are outstanding, the Company will not be a party to any Variable Rate Transactions, ELOC, ATM or equity backed merchant cash advance.
This disclosure obligation applies to all financing transactions regardless of whether they constitute a Variable Rate Transaction or Convertible Note under Section 4.12.
Notwithstanding the foregoing, the Company may enter into a registered direct offering or underwritten public offering at any time, provided that no Variable Rate Transaction component is included.

More Definitions of Variable Rate

Variable Rate means a per annum rate equal at all times to the Prime Rate plus the Applicable Margin for Prime Rate Loans, with changes therein to be effective simultaneously without notice or demand of any kind with any change in the Prime Rate.

Variable Rate means that the per-unit kWh charge for electric power and energy service changes at any time during the term of the contract but does not change more than once per month.

Variable Rate means the variable rate of interest per annum, including the Initial Rate, borne by each Subclass of Auction Rate Notes during the Initial Period for such Subclass, and each Interest Period thereafter as such rate of interest is determined in accordance with the provisions of Article II of this Appendix A.

Variable Rate means the variable rate of interest per annum, including the Initial Rate, borne by each class of Auction Rate Notes during the Initial Period for such class, and each Accrual Period thereafter as such rate of interest is determined in accordance with the provisions of Article II of this Appendix A-2.

Variable Rate means the rate per annum equal to the Prime Rate per annum as in effect from time to time. The Variable Rate will change on each day that the "Prime Rate" changes.

Variable Rate means, as the context requires, the Initial Rate, the Weekly Rate, the Monthly Rate, the Quarterly Rate, the Semiannual Rate, or Term Rate applicable to the Bonds.

Variable Rate means a variable interest rate or rates to be borne by a Series of Bonds or any one or more maturities within a Series of Bonds, as such variable interest rate is determined in accordance with Section 15(n)(iii) (Hedging and Variable Rate Bonds).