Variable Rate Note definition

Variable Rate Note means a Note in respect of which the amount of interest payable is calculated by reference to Condition 5(f).

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Variable Rate Note means a Note bearing interest at the Taxable SOFR Index Rate or the Tax-Exempt SOFR Index Rate.

Variable Rate Note is defined in Section 2.3.

Examples of Variable Rate Note in a sentence

In connection with a sale which is to be settled more than one business day after the sale date, if the initial interest rate for a Variable Rate Note is not known at the time that Settlement Procedure "A" is completed, Settlement Procedures "B" and "C" shall be completed as soon as such rates have been determined, but no later than 12 Noon and 2:00 p.m., as the case may be, on the second business day before the Settlement Date.
At any time before the one (1) year anniversary of the Effective Date, Borrower may elect to commence paying principal together with interest on the MAL in accordance with the repayment terms set forth in the Variable Rate Note by providing Bank notice thereof (the “Early Amortization Election”).
If any Variable Rate Note becomes due and payable under Condition 9, the Rate of Interest and Interest Amounts payable in respect of such Variable Rate Note after the date of notice given under such Condition shall nevertheless continue to be calculated as previously by the Agent Bank in accordance with the provisions (amended as necessary) of the Conditions but no publication of such Rate of Interest and Interest Amounts need be made unless the Trustee otherwise requires.
The Borrower acknowledges that the Obligations evidenced by this Variable Rate Note are for business purposes only and are not an extension of consumer or individual credit.
In the event of a conflict or inconsistency between the terms of this Variable Rate Note and the Loan Agreement, the terms and provisions of the Loan Agreement shall govern.

More Definitions of Variable Rate Note

Variable Rate Note has the meaning provided in Section 2.12(b) of this Agreement.

Variable Rate Note means the promissory note provided for in Section 2.02(a) hereof and all promissory notes delivered in substitution or exchange therefor, in each case as the same shall be modified and supplemented and in effect from time to time.

Variable Rate Note means any Note other than a Fixed Rate Note.

Variable Rate Note means any of the Class I-A Notes, the Class II-A-1 Notes, the Class B-2 Notes, the Class B-3 Notes and the Variable Funding Notes.

Variable Rate Note means a Note which bears interest at a variable rate pursuant to Section 2.05.

Variable Rate Note means a Note bearing interest at the Taxable LIBOR Index Rate or the Tax-Exempt LIBOR Index Rate.

Variable Rate Note. The portion of the Credit that is not evidenced by Fixed-Rate Notes shall be evidenced by a note of the Company bearing a variable rate of interest and substantially in the form of Exhibit A to this Agreement and any amendment, modification, replacement or extension thereof (the "Variable-Rate Note"). The Variable-Rate Note shall be in modification and extension but not replacement of the Secured Term Notes of the Company, payable to the order of the Bank, dated as of September 21, 1990, October 25, 1993, and January 10, 1995.