Floating Base Rate definition

Floating Base Rate means the rate of interest declared from time to time and at any time by BDC from its head office in Montreal, Quebec, as its floating base rate of interest charged on Canadian dollar loans to its commercial customers.

Floating Base Rate means, for any day, a rate per annum equal to the higher of (i) the Prime Rate for such day or (ii) the sum of 1/2 of 1% plus the Federal Funds Rate for such day.

Floating Base Rate means the greater of (a) the Floating Prime Rate in effect from day to day or (b) the Federal Funds Rate plus one half of one percent (.5%).

Examples of Floating Base Rate in a sentence

• The unpaid principal of each Floating Base Advance shall bear interest from the date of advance until paid at a rate per annum which shall from day to day, be equal to the lesser of: (a) the Floating Base Rate or (b) the Maximum Rate.

• Each change in the rate charged hereunder shall, subject to the foregoing, become effective, without notice to Maker, upon the effective date of each change in the Floating Base Rate or the Highest Lawful Rate, as the case may be.

• The unpaid principal balance from day to day outstanding hereunder shall bear interest at a rate per annum which shall from day to day be equal to the lesser of (a) the Floating Base Rate, as hereinafter defined (the "Contract Rate;" calculated on the basis of actual days elapsed, but computed as if each calendar year consisted of 360 days), or (b) the Highest Lawful Rate.

• The unpaid principal of each Floating Base --------------------- Advance shall bear interest from the date of advance until paid at a rate per annum which shall from day to day be equal to the lesser of (a) the Maximum Rate or (b) the sum of the Floating Base Rate in effect from day to day plus the Applicable Margin.

• The loan matures in July 2012, calls for monthly principal payments of $2,300 ($2,780 Canadian dollars) and bears interest at the Bank’s Floating Base Rate plus 3% per annum (9% and 11.25% at October 31, 2008 and 2007, respectively).

More Definitions of Floating Base Rate

Floating Base Rate means the greater of (i) the rate of interest publicly announced by Payex xxxm time to time as its prime rate of interest or (ii) the Federal Funds Effective Rate plus one-half of one percent (.5%). Such rate of interest is a fluctuating rate and may or may not at any time be the best or lowest rate charged by Payee on any loan.

Floating Base Rate means the prime interest rate as quoted by the Wall Street journal from time to time, plus one percent, floating, (y) "Highest Lawful Rate" means the maximum rate (or, if the context so requires, an amount calculated at such rate) of interest which the holder hereof is allowed to contract for, charge, take, reserve, or receive - 1 - ---------- Initials

Floating Base Rate means the six (6)-month LIBOR denominated floating rate, set on each LIBOR Reset Date; Fixed Base Rate Date" means any date, subsequent to the date on which the Minimum Interest Rate Fixing Amount is attained, on which the Bank – upon the request of the Borrower – calculates the Fixed Base Rate;

Floating Base Rate has the meaning given to such term in the Notes. ------------------ GAAP means generally accepted accounting principles, applied on a ---- consistent basis, set forth in Opinions of the Accounting Principles Board of the American Institute of Certified Public Accountants and/or in statements of the Financial Accounting Standards Board and/or their successors which are applicable in the circumstances as of the date in question; and the requirement that such principles be applied on a consistent basis means that the accounting principles observed in a current period are comparable in all material respects to those applied in a preceding period.

Floating Base Rate means, on any date, the sum of: (a) the variable rate of interest established, announced or published from time to time by Agent as its "prime rate," "base rate" or "general reference rate" of interest for short-term commercial loans in Dollars to domestic borrowers (which rate of interest may not be the lowest rate charged by Agent on similar loans); and (b) based upon the range in which the Leverage Ratio falls, the applicable percentage in accordance with the following table: ======================================================== Leverage Ratio Percentage ======================================================== Less than 35% 0.75% -------------------------------------------------------- Equal to or greater than 35%, but less 1.125% than 45% -------------------------------------------------------- Equal to or greater than 45%, but less 1.3125% than 50% -------------------------------------------------------- Equal to or greater than 50% 1.50% -------------------------------------------------------- Each change in the Floating Base Rate shall become effective without prior notice to Borrower automatically as of the opening of business on the day of such change in the Floating Base Rate.

Floating Base Rate means the rate from time to time publicly -------------------- announced by Lender or its successors, as its Floating Base Rate, whether or not such announced rate is the best rate available at Lender.

Floating Base Rate. LIBO Rate", "LIBO Business Day" and "LIBO Interest Period" are defined in the Note referred to below. In addition, the following terms shall have the meaning set forth with respect thereto: