Revolving Floating Rate means an annual rate equal to the sum of the Prime Rate plus the Spread, which annual rate shall change when and as the Prime Rate changes.
Revolving Floating Rate means an annual rate equal to the sum of the Base Rate plus three percent (3.0%). The Revolving Floating Rate shall change when and as the Base Rate changes.
Revolving Floating Rate means Daily Three Month LIBOR plus the Spread, which annual rate shall change when and as Daily Three Month LIBOR changes.
Examples of Revolving Floating Rate in a sentence
Revolving Floating Rate Advances shall continue as Floating Rate Advances unless and until such Revolving Floating Rate Advances are converted into Revolving Eurodollar Advances pursuant to this Section 2.12 or are repaid in accordance with Section 2.10.
Except as set forth in Sections 2.8(e), 2.8(f) and 2.8(g), the outstanding principal balance of the Revolving Note shall bear interest at the Revolving Floating Rate.
Except as set forth in Sections 2.8(d), 2.8(f) and 2.8(g), the outstanding principal balance of the Revolving Note shall bear interest at the Revolving Floating Rate.
Except as set forth in Sections 2.2(c) and 2.2(e), the outstanding principal balance of the Revolving Note shall bear interest at the Revolving Floating Rate.
Except as set forth in Sections 2.8(e) and 2.8(g), the outstanding principal balance of the Revolving Note shall bear interest at the Revolving Floating Rate.
More Definitions of Revolving Floating Rate
Revolving Floating Rate contained in Section 1.1 of the Credit Agreement is hereby deleted in its entirety and replaced as follows:
Revolving Floating Rate means an annual rate equal to the sum of the Prime Rate plus one-half of one percent (0.5%), which annual rate shall change when and as the Prime Rate changes.
Revolving Floating Rate through and until January 1, 1999, means an annual rate equal to the sum of the Base Rate plus one-quarter of one percent (.25%). From and after January 1, 1999, the "Revolving Floating Rate" means an annual rate equal to the sum of the Base Rate plus two and one-quarter percent (2.25%). The Revolving Floating Rate shall change when and as the Base Rate changes.
Revolving Floating Rate means an annual rate equal to the sum of the Prime Rate plus two and one-quarter of one percent (2.25%). The Revolving Floating Rate shall automatically be reduced to an annual rate equal to the sum of the Prime Rate plus one-quarter of one percent (.25%) on the first day of the first full month following Lender's receipt of Borrower's 2002 fiscal year audited financial statements complying with Section 6.1(a) below, if but only if (i) said financial statements indicate that the Borrower and the Covenant Entities have achieved a Net Income for the Borrower's 2002 fiscal year of not less than $600,000.00, (ii) said financial statements indicate that the Borrower and the Covenant Entities increased their aggregate Net Worth during Borrower's 2002 fiscal year by not less than $600,000.00, and (iii) there is not a then existing Event of Default or Default Period. If but only if said reduction is not achieved as provided above, the Revolving Floating Rate shall automatically be adjusted on the first day of the first full month following Lender's receipt of Borrower's audited financial statements complying with Section 6.1(a) below in any year subsequent to Borrower's 2002 fiscal year, to an annual rate equal to the sum of the Prime Rate plus one-quarter of one percent (0.25%) in the event that (i) said financial statements indicate that the Borrower and the Covenant Entities have achieved a Net Income for any such fiscal year of not less than $600,000.00, (ii) said financial statements indicate that the Borrower and the Covenant Entities increased their aggregate Net Worth during any such fiscal year by not less than $600,000.00, and (iii) there is not a then existing Event of Default or Default Period. The Revolving Floating Rate shall change when and as the Prime Rate changes.
Revolving Floating Rate means an annual interest rate equal to the sum of the Prime Rate plus two and one-half percent (2.50%) which annual rate shall change when and as the Prime Rate Changes; provided, however, effective as of the first day of the month following the month in which the Borrowers deliver to the Lender their audited financial statements for the fiscal year ending December 31, 2009 "Revolving Floating Rate" shall mean Daily Three Month LIBOR plus the Spread which annual rate shall change when and as Daily Three Month LIBOR changes.
Revolving Floating Rate means an annual rate equal to (i) from the Funding Date through the date the Bridge Notes are paid in full, the sum of the Base Rate plus one percent (1%), and (ii) after the Bridge Notes are paid in full, the Base Rate, which rate shall change when and as the Base Rate changes.
Revolving Floating Rate means an annual rate equal to the sum of the Prime Rate plus one and one-half percent (1.5%), which annual rate shall change when and as the Prime Rate changes, provided however, if but only if, (i) there is not a then existing Event of Default or Default Period and (ii) LPC closes the Transaction for a sales price which is not less than $4,000,000.00 which includes a cash payment at closing of not less than $2,000,000.00, then the Revolving Floating Rate shall be reduced to an annual rate equal to the sum of the Prime Rate plus one percent (1%) which annual rate shall change when and as the Prime Rate changes, said reduction to be effective, if at all, on the later of (x) the closing of the Transaction, or (y) March 31, 2000.