Variable Rate Advance definition

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

Variable Rate Advance means any advance made under the Credit Line that accrues interest at a variable rate.”

Variable Rate Advance means any principal amount outstanding under this Agreement which pursuant to this Agreement bears interest at the Variable Rate.

Examples of Variable Rate Advance in a sentence

• Your minimum periodic payment for each billing cycle is the sum of the minimum periodic payments due for any Variable Rate Advance balance and any Fixed Rate Advance balance you have during that billing cycle, plus any other amounts that may be due under the terms of the agreement.

• Interest charges for a Variable Rate Advance will accrue monthly and be due on the earlier of demand or the first Business Day of the succeeding month.

• Upon Bank’s acceptance of the request, Bank shall have no obligation to make any additional Advances (including, without limitation, Advances up to the Committed Amount) to any Borrower or to issue any letters of credit for the benefit of any Borrower, but shall be entitled to convert any interest and other fees and charges due under this Agreement that are not paid at the end of a billing cycle into a Variable Rate Advance as provided by this Agreement.

• Subject to the terms of the Agreement, all amounts due under this Agreement or any letter of credit issued hereunder, whether principal, interest charges or other fees and charges, that are not paid when due will become a Variable Rate Advance and will thereafter bear additional interest charges at the applicable interest rates.

• Advance or Fixed Rate Advance may be made on the day notice is received by the Bank; provided, however, that if the Bank shall not have received notice at or before 2:00 p.m. on the day such Advance is requested to be made, such Variable Rate Advance or Fixed Rate Advance may, at the Bank's option, be made on the next Business Day.

More Definitions of Variable Rate Advance

Variable Rate Advance means any Advance that bears interest at the Variable Rate.

Variable Rate Advance means an Advance that bears or that is requested to bear interest at the Variable Rate.

Variable Rate Advance means an Advance under the Revolving Credit Facility which will bear interest computed with reference to the Variable Rate. Variable Rate Portion shall mean that portion of the Term Facility which bears interest computed with reference to the Variable Rate.

Variable Rate Advance. The term "Variable Rate Advance" means any principal amount outstanding under this Note which pursuant to this Note bears interest at the Variable Rate.

Variable Rate Advance shall have the meaning set forth in paragraph 2(a) hereof.

Variable Rate Advance means an Advance that bears, or is requested to bear, interest at the Variable Rate.

Variable Rate Advance means an Advance bearing interest at a rate determined by reference to the Variable Rate.