Base Rate Option. A rate of interest per annum which is at all times equal to the Base Rate. If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance to which the Base Rate Option applies will change automatically without notice to the Borrower, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Base Rate Option.
Appears in 4 contracts
Samples: Committed Line of Credit Note (Middlesex Water Co), Committed Line of Credit Note (Middlesex Water Co), Committed Line of Credit Note (EPAM Systems, Inc.)
Base Rate Option. A rate of interest per annum which is at all times equal to (A) the Base RateRate plus (B) the Applicable Margin for the Base Rate Option. If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance to which the Base Rate Option applies will change automatically without notice to the Borrower, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Base Rate Option.
Appears in 3 contracts
Samples: Committed Line of Credit Note (New Jersey Resources Corp), Committed Line of Credit Note (New Jersey Resources Corp), Committed Line of Credit Note (New Jersey Resources Corp)
Base Rate Option. A rate of interest per annum which is at all times equal to (A) the Base RateRate plus (B) the Applicable Margin. If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance amounts to which the Base Rate Option applies will change automatically without notice to the Borrower, effective on the date of any such change. There are no required minimum interest periods for advances amounts bearing interest under the Base Rate Option.
Appears in 2 contracts
Samples: Term Note (Icg Group, Inc.), Term Note (Internet Capital Group Inc)
Base Rate Option. A rate of interest per annum which is at all times equal to (A) the Base RateRate plus (B) fifty (50) basis points (0.50%). If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance to which the Base Rate Option applies will change automatically without notice to the Borrower, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Base Rate Option.
Appears in 1 contract
Samples: Loan Agreement (Erie Indemnity Co)
Base Rate Option. A rate of interest per annum which is at all times equal to the Base RateRate plus the Base Rate Applicable Margin (as set forth in Section 1.4(a) of the Loan Agreement, as hereinafter defined). If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance to which the Base Rate Option applies will change automatically without notice to the Borrower, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Base Rate Option.
Appears in 1 contract
Samples: Loan Agreement (Lsi Industries Inc)
Base Rate Option. A rate of interest per annum which is at all times equal to (A) the Base RateRate plus (B) the Applicable Margin per annum, then in effect. If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance to which the Base Rate Option applies will change automatically without notice to the BorrowerBorrowers, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Base Rate Option.
Appears in 1 contract
Base Rate Option. A rate of interest per annum which is at all times equal to (A) the Base RateRate plus (B) 0.00%. If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance to which the Base Rate Option applies will change automatically without notice to the Borrower, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Base Rate Option.
Appears in 1 contract
Samples: Committed Line of Credit Note (New Jersey Resources Corp)
Base Rate Option. A rate of interest per annum which is at all times equal to (A) the Base RateRate plus (B) the Applicable Margin for Base Rate Loans (as defined in the Loan Agreement). If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance to which the Base Rate Option applies will change automatically without notice to the Borrower, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Base Rate Option.
Appears in 1 contract
Base Rate Option. A rate of interest per annum which is at all times equal to (A) the Base RateRate plus (B) the Applicable Margin. If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance to which the Base Rate Option applies will change automatically without notice to the Borrower, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Base Rate Option.
Appears in 1 contract
Samples: Committed Line of Credit Note (Internet Capital Group Inc)
