FIXED RATE ALTERNATIVE PRICING Sample Clauses

FIXED RATE ALTERNATIVE PRICING. The Borrower may from time to time elect (by notice to the Bank as provided below) that the entire amount of the outstanding principal balance under the Term Loan (the "TERM BALANCE") shall accrue interest on the amount of such Term Balance at a fixed rate for such period of time (the "INTEREST PERIOD") as the Bank may quote and offer, provided that any such Interest Period (i) shall be for at least 30 days and shall not extend beyond the maturity date of the Term Loan. Such fixed rate shall be a percentage to be quoted and offered by the Bank from time to time upon the request of the Borrower (the "FIXED RATE"). Any telephonic or oral quote or offer by the Bank of a Fixed Rate for a given Interest Period may be confirmed in writing by the Bank upon the election (as provided herein) of the Borrower to accept such terms and such confirmation shall be deemed conclusive as to the terms quoted and offered. A Term Balance on which interest is accruing on the basis of the Fixed Rate is hereinafter referred to as a "Fixed Rate Balance" and a Term Balance on which the interest is accruing on the basis of the Variable Rate is hereinafter referred to as a "Variable Rate Balance". Interest on any Fixed Rate Balance shall be computed on the basis of 360 days per year but charged on the actual number of days elapsed. The Borrower hereby promises and agrees to pay the Bank interest on any Fixed Rate Balance on the basis described above with respect to the Variable Rate. If interest under the Fixed Rate is not paid as and when it is due, the amount of such unpaid interest shall bear interest, until paid in full, at the then applicable interest rate.
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FIXED RATE ALTERNATIVE PRICING. In addition to Advances based upon the Variable Rate ("Variable Rate Advances"), at the Borrower's election, the Bank hereby agrees to make Advances to the Borrower under this Line of Credit at a fixed rate ("Fixed Rate") which shall be approximately equivalent to 2.000% per annum in excess of the rate which the Bank determines, in its sole and absolute discretion, to be equal to the Bank's cost of acquiring funds in an amount approximately equal to the amount of the relevant Advance and for a period of time approximately equal to the relevant Interest Period (as defined below). Such cost of funds shall be adjusted for any and all assessments, surcharges and reserve requirements pertaining to the borrowing or purchase of such funds by the Bank. Such Advances shall be in the minimum amount of $100,000.00 and in $100,000.00 increments thereafter and for such period of time (each an "Interest Period") as the Bank may quote and offer, provided that the Interest Period shall be for a minimum of at least 7 days and not exceed a maximum of 90 days and provided further that any Interest Period shall not extend beyond the Expiration Date (as defined below) of this facility. Advances based upon the Fixed Rate are hereinafter referred to as "Fixed Rate Advances". Interest on any Fixed Rate Advance shall be computed on the basis of 360 days per year but charged on the actual number of days elapsed. The Borrower hereby promises and agrees to pay the Bank interest on any Fixed Rate Advance with an Interest Period of 90 days or less on the last day of the relevant Interest Period. The Borrower further promises and agrees to pay the Bank interest on any Fixed Rate Advance with an Interest Period in excess of 90 days on a quarterly basis (i.e., on the last day of each 90-day period occurring in such Interest Period) and on the last day of the relevant Interest Period. If interest is not paid as and when it is due, the amount of such unpaid interest shall bear interest, until paid in full, at a rate of interest equal to the Variable Rate.
Sample 1See All (4)
FIXED RATE ALTERNATIVE PRICING. In addition to Advances based upon the Variable Rate ("Variable Rate Advances"), at the Borrower's election, the Bank hereby agrees to make Advances to the Borrower under this Equipment Purchase facility at a fixed rate ("Fixed Rate") to be quoted and offered by the Bank from time to time upon the request of the Borrower. The Bank shall only quote and offer such Fixed Rate for Advances in the minimum amount of $100,000.00 and in $100,000.00 increments thereafter and for such period of time (each an "Interest Period") as the Bank may quote and offer, provided that the Interest Period shall be for a minimum of at least 30 days and provided further that any Interest Period shall not extend beyond the Expiration Date (as defined below) of this facility. Advances based upon the Fixed Rate are hereinafter referred to as "Fixed Rate Advances". Interest on any Fixed Rate Advance shall be computed on the basis of 360 days per year but charged on the actual number of days elapsed. The Borrower hereby promises and agrees to pay the Bank interest on any Fixed Rate Advance on the basis described above with respect to the Variable Rate. If interest is not paid as and when it is due, the amount of such unpaid interest shall bear interest, until paid in full, at a rate of interest equal to the Variable Rate.
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FIXED RATE ALTERNATIVE PRICING. In addition to Advances based upon the Variable Rate ("Variable Rate Advances"), at the Borrower's election, the Bank hereby agrees to make Advances to the Borrower under this Equipment Line of Credit at a fixed rate ("Fixed Rate") which shall be approximately equivalent to 2.0% per annum in excess of the Cost of Funds Rate or, at the Borrower's option, 2.0% per annum in excess of the Eurodollar Rate. Such Advances shall be in the minimum amount of $100,000.00 and in $10,000.00 increments thereafter and for such period of time (each an "Interest Period") as the Bank may quote and offer, provided that the Interest Period shall be for a minimum of at least 30 days and not exceed a maximum of 90 days and provided further that any Interest Period shall not extend beyond the Expiration Date (as defined below) of this facility. Advances based upon the Fixed Rate are hereinafter referred to as "Fixed Rate Advances". Interest on any Fixed Rate Advance shall be computed on the basis of 360 days per year but charged on the actual number of days elapsed. The Borrower hereby promises and agrees to pay the Bank interest on any Fixed Rate Advance with an Interest Period of 90 days or less on the last day of the relevant Interest Period. The Borrower further promises and agrees to pay the Bank interest on any Fixed Rate Advance with an Interest Period in excess of 90 days on a quarterly basis (i.e., on the last day of each 90-day period occurring in such Interest Period) and on the last day of the relevant Interest Period. If interest is not paid as and when it is due, the amount of such unpaid interest shall bear interest until paid in full, at a rate of interest equal to the Variable Rate.
Sample 1

Related to FIXED RATE ALTERNATIVE PRICING

  • FIXED RATES If a fixed rate is in this Agreement, it is based on an estimate of the costs for the period covered by the rate. When the actual costs for this period are determined, an adjustment will be made to a rate of a future year(s) to compensate for the difference between the costs used to establish the fixed rate and actual costs.

  • Floating Rate/Fixed Rate Notes If this Note is specified on the face hereof as a “Floating Rate/Fixed Rate Note”, this Note will bear interest at the rate determined by reference to the applicable Interest Rate Basis or Interest Rate Bases: (1) plus or minus the applicable Spread, if any; and/or (2) multiplied by the applicable Spread Multiplier, if any. Commencing on the first Interest Reset Date, the rate at which this Floating Rate/Fixed Rate Note is payable will be reset as of each Interest Reset Date; provided, however, that: (A) the interest rate in effect for the period, if any, from the Original Issue Date to the first Interest Reset Date will be the Initial Interest Rate specified on the face hereof; and (B) the interest rate in effect commencing on the Fixed Rate Commencement Date will be the Fixed Interest Rate, if specified on the face hereof, or, if not so specified, the interest rate in effect on the day immediately preceding the Fixed Rate Commencement Date.

  • Negotiation of alternative rate of interest If the Agent’s notice under Clause 5.6 is served after an Advance is made, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

  • Subsequent Variable Rate Transactions 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. “Variable Rate Transaction” means a transaction in which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or exercisable for, or include the right to receive, additional shares of Common Stock either (A) at a conversion price, exercise price or exchange rate or other price that is based upon, and/or varies with, the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of such debt or equity securities or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market for the Common Stock or (ii) enters into any agreement, including, but not limited to, an equity line of credit, whereby the Company may issue securities at a future determined price. The Buyer shall be entitled to obtain injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition to any right to collect damages.

  • Variable Rate Transactions From the date hereof until such time as no Purchaser holds any of the Debentures, the Company shall be prohibited from effecting or entering into an agreement to effect any issuance by the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a Variable Rate Transaction. “Variable Rate Transaction” means a transaction in which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or exercisable for, or include the right to receive, additional shares of Common Stock either (A) at a conversion price, exercise price or exchange rate or other price that is based upon, and/or varies with, the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of such debt or equity securities or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market for the Common Stock or (ii) enters into any agreement, including, but not limited to, an equity line of credit, whereby the Company may issue securities at a future determined price. Any Purchaser shall be entitled to obtain injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition to any right to collect damages.

  • Duration of normal Interest Periods Subject to Clauses 6.3 and 6.4, each Interest Period shall be: (a) 3 or 6 months; or (b) such other period (as proposed by the Borrower to the Agent not later than 11:00 a.m. (Hamburg time) 5 Business Days before the commencement of the Interest Period) as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower (failing which the Interest Period shall be three months).

  • Fixed Rate In the event the Borrower has opted for a Fixed Rate of interest, the interest rate shall remain fixed throughout the tenure of the Loan. The applicable Fixed Rate shall be the prevailing interest rate on the date of disbursement.

  • Notice of Interest Period and Interest Rate Promptly after receipt of a Notice of Borrowing pursuant to Section 2.02(a), a notice of Conversion pursuant to Section 2.09 or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

  • Alternate Rate of Interest If prior to the commencement of any Interest Period for a Eurodollar Borrowing: (a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period; or (b) the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period; then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing as, a Eurodollar Borrowing shall be ineffective and (ii) if any Borrowing Request requests a Eurodollar Revolving Borrowing, such Borrowing shall be made as an ABR Borrowing; provided that if the circumstances giving rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings shall be permitted.

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