Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.75%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

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

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.

Examples of Variable Rate in a sentence

The Borrower consummates a Variable Rate Transaction at any time on or after the Issue Date.
So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s written consent, (a) change the nature of its business; (b) sell, divest, change the structure of any material assets other than in the ordinary course of business; (c) enter into a Variable Rate Transaction; or (d) enter into any Prohibited Transaction (as defined in this Note).
From the date hereof until such time as each Note is fully converted or fully repaid, the Company shall be prohibited from effecting or entering into an agreement involving a Variable Rate Transaction.
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.
The conversion of bonds or Indebtedness constituting Variable Rate Indebtedness to bear interest at a different variable rate or a fixed rate or rates, in accordance with their terms, shall not constitute a new issuance of bonds under Sections 208(II) or (III), 209, 210, 211 or 212 of this Agreement.

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, for any day, the higher of (i) Federal Funds Rate for such day plus 0.5% and (ii) 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 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 a fluctuating rate of interest equal to the Base Rate.

Variable Rate means, for any day, the Prime Rate for such day.

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.