Examples of ABR Advances in a sentence
The Borrower acknowledges that to the extent interest payable on the Loans is based on the Alternate Base Rate, such rate is only one of the bases for computing interest on loans made by the Lenders, and by basing interest payable on ABR Advances on the Alternate Base Rate, the Lenders have not committed to charge, and the Borrower has not in any way bargained for, interest based on a lower or the lowest rate at which the Lenders may now or in the future make extensions of credit to other Persons.
Each partial prepayment under this Section 2.7 shall be (A) in the case of Term SOFR Advances, in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof or the entire remaining amount of Term SOFR Advances, and (B) in the case of ABR Advances, in a minimum amount of $1,000,000 or an integral multiple of $100,000 in excess thereof or the entire remaining amount of ABR Advances.
Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, all affected Advances will be deemed to have been converted to ABR Advances at the end of the applicable Interest Period.
Except as otherwise provided in Section 3.4(b) and Section 3.4(c), the Loans shall bear interest on the unpaid principal balance thereof at the applicable interest rate or rates per annum set forth below: LOANS RATE Term Loans constituting ABR Advances Alternate Base Rate plus the Applicable Margin.
ABR Advances and Term SOFR Advances may be Converted pursuant to this Section 3.3 in whole or in part; provided that the amount to be Converted to each Term SOFR Advance, when aggregated with any Term SOFR Advance to be made on such date in accordance with Section 2.1 and having the same Interest Period as such first Term SOFR Advance, shall equal no less than $50,000,000 or an integral multiple of $1,000,000 in excess thereof or the entire remaining amount of the Term SOFR Advances.