CD Rate Advances Sample Clauses
The "CD Rate Advances" clause defines the terms under which a lender may offer loans or advances to a borrower at interest rates tied to the rates paid on certificates of deposit (CDs). Typically, this clause specifies how the applicable CD rate is determined, the duration for which such advances can be made, and any conditions or limitations on their use. For example, it may allow a borrower to access short-term funding at a rate that reflects current market conditions for CDs, rather than a fixed or prime rate. The core function of this clause is to provide flexibility in borrowing costs, aligning loan rates with prevailing CD rates and potentially offering more favorable terms to the borrower.
CD Rate Advances. During such periods as such Advance is a CD Rate Advance, a rate per annum equal at all times during each Interest Period for such Revolving Credit Advance to the sum of (x) the Adjusted CD Rate for such Interest Period for such Revolving Credit Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than 90 days, on each day that occurs during such Interest Period every 90 days from the first day of such Interest Period and on the date such CD Advance shall be Converted or paid in full.
CD Rate Advances. The following new sentence is added at the end of Section 2.2(f)(i)
CD Rate Advances. The unpaid principal amount of each CD Rate Advance shall bear interest prior to maturity at a rate per annum equal to the CD Rate (Reserve Adjusted) in effect for each Interest Period for such CD Rate Advance plus the Applicable Margin.
CD Rate Advances. If such Advance is a CD Rate Advance, a rate per annum equal at all times during the Interest Period for such Advance to the lesser of (i) the CD Rate for such Interest Period PLUS the Applicable Margin and (ii) the Maximum Rate, payable on the last day of such Interest Period, and, in the case of 180-day Interest Periods, on the day which occurs during such Interest Period 90 days from the first day of such Interest Period; PROVIDED that any amount of principal which is not paid when due (whether at stated maturity, by acceleration or otherwise) shall bear interest from the date on which such amount is due until such amount is paid in full, payable on demand, at a rate per annum equal at all times to the lesser of (i) the rate required to be paid on such Advance immediately prior to the date on which such amount became due PLUS 2% and (ii) the Maximum Rate.
CD Rate Advances. During such periods as such Revolving Credit Advance is a CD Rate Advance, a rate per annum equal at all times during each Interest Period for such Revolving Credit Advance to the sum of (x) the Adjusted CD Rate for such Interest Period for such Revolving Credit Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and on the date such CD Rate Advance shall be Converted or paid in full.
CD Rate Advances. During such periods as any Revolving A Advance or Revolving B Advance is a CD Rate Advance, a rate per annum equal to the sum of (i) the CD Rate for such Interest Period for such Advance plus (ii) the Applicable Revolving Margin in effect on the first day of such Interest Period, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than 90 days, on the day that occurs during such Interest Period 90 days from the first day of such Interest Period and on the final day of such Interest Period.
CD Rate Advances