Variable Rate Loans. Notwithstanding any other provision of this Credit Support Annex, if on any date (a ''Notice Date''), Party B serves an irrevocable notice pursuant to Clause 4.8 of the Servicing Agreement instructing the Servicer to set the reference rate of the Variable Rate Loans to a rate linked to 3 month LIBOR, from and including the Notice Date the Transaction Notional Amount of each Transaction will be reduced for the purposes of all calculations hereunder including calculations of Exposure, Fitch Credit Support Amount, Xxxxx'x Credit Support Amount, S&P Credit Support Amount and Credit Support Amount by excluding the portion of the Notional Amount of the Transaction that relates to the Variable Rate Loans. For the purposes of calculating ''VC'' and ''N'' in respect of the Fitch Credit Support Amount, the portion of the Transaction(s) relating to Variable Rate Loans, the GIC Account and Substitution Assets will be disregarded for all purposes.
Variable Rate Loans. The Daily Periodic Rate and corresponding ANNUAL PERCENTAGE RATE will vary based on changes in an Index, which is the highest U.S. Prime Rate published in The Wall Street Journal (Western Edition). If The Wall Street Journal (Western Edition) ceases publication or ceases to publish the Prime Rate, we reserve the right to use the Prime Rate published in any other newspaper of general circulation, or we may substitute a similar reference at our sole discretion. The ANNUAL PERCENTAGE RATE is determined by adding a margin to the Index. The amount of the margin that is added to the Index is based on your credit profile and other factors we deem relevant, and will be disclosed at the time your account is opened. The ANNUAL PERCENTAGE RATE is divided by 365 to produce the daily Periodic Rate. The current Periodic Rate and ANNUAL PERCENTAGE RATE will be shown on the Advance Voucher at the time you open your Account. The ANNUAL PERCENTAGE RATE will be adjusted on the first day of each month based on the most recent Index rate as of the last day of the prior month. There is a maximum ANNUAL PERCENTAGE RATE of 18% and a minimum ANNUAL PERCENTAGE RATE that ranges from 3.49% to 9.24% (for Equity Line Plus accounts) and from 3.99% to 9.74% (for Equity Line Plus Interest Only accounts) based on your credit profile. Any increase or decrease in the ANNUAL PERCENTAGE RATE will affect the number of monthly payments you will make under the plan. However, if the amount of the monthly payment is not enough to pay at least the FINANCE CHARGE accrued during the month and amounts advanced for any insurance premiums, if applicable, we may increase your monthly payment in an amount sufficient to amortize the loan balance over the original schedule. The ANNUAL PERCENTAGE RATE does not include costs other than interest.
Variable Rate Loans. The Principal Indebtedness on the Variable Rate Loans from time to time outstanding shall bear interest at the Three and Five Year Loan Contract Rate.
Variable Rate Loans. Interest at the Three and Five Year Loan Contract Rate shall be computed on the basis of a year of three hundred sixty (360) days for the actual number of days occurring in the period for which such interest is payable.
Variable Rate Loans. There shall be due and payable on the Closing Date interest on the Principal Indebtedness outstanding on the Closing Date for Variable Rate Loans from the Closing Date through the last day of the first Interest Period, and there shall be due and payable on the first day of each Interest Period commencing with the first day of the third Interest Period (x) interest on the Principal Indebtedness of Variable Rate Loans that has accrued during the Interest Period preceding the date on which payment is to be made as provided in this Section 2.3(a)(i), and (y) a portion of the Principal Indebtedness of Variable Rate Loans computed by amortizing the Principal Indebtedness outstanding on such payment date over a period of Twenty Five (25) years at the Three and Five Year Loan Contract Rate applicable to the respective Variable Rate Loan at the commencement of the Interest Period for which payment is being made. All outstanding Principal Indebtedness on Three Year Loans, together with all accrued and unpaid interest thereon, shall be due and payable on the Three Year Loan Maturity Date. All outstanding Principal Indebtedness on Five Year Loans, together with all accrued and unpaid interest thereon, shall be due and payable on the Five Year Loan Maturity Date.
Variable Rate Loans. Country Club Loan Parties with Three Year Loans shall have no right to prepay any portion of the Principal Indebtedness of their respective Three Year Loans from time to time outstanding prior to and including the second (2nd) anniversary of the Closing Date. From and after the day following the second
Variable Rate Loans. During such periods as the Loans shall be comprised in whole or in part of Variable Rate Loans, such Variable Rate Loans shall bear interest at a per annum rate equal to the Variable Rate. Each change in the Prime Rate or Adjusted Federal Funds Rate shall, as applicable, simultaneously change the Variable Rate payable under this Agreement; and
Variable Rate Loans. Outstanding Variable Rate Loans or amounts due on Term Notes bearing interest at a Variable Rate may be prepaid, at Borrowers' option, in whole or in part at any time or from time to time, without premium or penalty, in principal amounts of $1,000 or integral multiples thereof, by giving written, telegraphic or oral notice to Bank One not later than 2:00 p.m. Columbus, Ohio time on the Domestic Banking Day on which prepayment is to be made. When such notice of prepayment has been given to Bank One, the applicable principal amounts of the Variable Rate Loans shall become due and payable on the designated prepayment date. Interest on the principal of the Revolving Credit Notes repaid, accrued to such prepayment date, shall be due and payable on the next Interest Payment Date. Eurodollar Loans may only be prepaid as provided for in Section 4.7(e) and Section 2.1.5.
Variable Rate Loans. The Tranche C Term Loans or Tranche D Term Loans comprising each Variable Rate Borrowing shall bear interest at the RTFC Variable Rate plus the Applicable Rate.
Variable Rate Loans. The unpaid principal balance of the Variable Rate Loans (other than Overdraft Loans and Over Advances) shall bear interest to maturity at the Reference Rate in effect from time to time plus the Applicable Margin.
