FLOATING INTEREST RATE LOAN Sample Clauses

FLOATING INTEREST RATE LOAN. HBU may change the floating interest rate at any time. If HBU elects to do so, it shall notify the Borrower in writing of the change at least eleven days prior to the day on which it is to take effect. If the Borrower does not agree to the new interest rate, he shall inform HBU thereof in writing at least one week prior to the interest refixing date. If the Borrower fails to respond to the written notice from HBU by that date, the Borrower shall be deemed to have agreed to the new rate. If the Borrower so requests at least two weeks prior to the first day of the next calendar quarter or on a day the interest rate is changed, HBU shall, on the first day of the next calendar quarter, convert such floating rate loan into a fixed rate loan at HBU's then prevailing interest rate.
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FLOATING INTEREST RATE LOAN. Prepayment Structure Prepayment Charge 1%, with a Lockout Period from the Effective Date through the day before the 12th Installment Due Date After expiration of the Lockout Period, the Prepayment Charge is 1% of the principal being prepaid. A Prepayment Charge of 5.0% of the principal being prepaid will be due upon demand by Xxxxxx (i) if Lender applies any proceeds of collateral or other security to any portion of the principal balance of the Note during the Lockout Period, or (ii) following a determination that the prohibition on voluntary prepayments during the Lockout Period is contrary to applicable law. 3%, 2%, 1% (i) 3.0% of the principal being prepaid if the Prepayment occurs prior to the 12th Installment Due Date (ii) 2.0% of the principal being prepaid if the Prepayment occurs on or after the 12th Installment Due Date and prior to the 24th Installment Due Date (iii) 1.0% of the principal being prepaid if the Prepayment occurs on or after the 24th Installment Due Date and prior to the first day of the Window Period 5%, 4%, 3%, 2%, 1% (i) 5.0% of the principal being prepaid if the Prepayment occurs prior to the 12th Installment Due Date (ii) 4.0% of the principal being prepaid if the Prepayment occurs on or after the 12th Installment Due Date and prior to the 24th Installment Due Date (iii) 3.0% of the principal being prepaid if the Prepayment occurs on or after the 24th Installment Due Date and prior to the 36th Installment Due Date (iv) 2.0% of the principal being prepaid if the Prepayment occurs on or after the 36th Installment Due Date and prior to the 48th Installment Due Date (v) 1.0% of the principal being prepaid if the Prepayment occurs on or after the 48th Installment Due Date and prior to the first day of the Window Period 7%, 6%, 5%, 4%, 3%, 2%, 1% (i) 7.0% of the principal being prepaid if the Prepayment occurs prior to the 12th Installment Due Date (ii) 6.0% of the principal being prepaid if the Prepayment occurs on or after the 12th Installment Due Date and prior to the 24th Installment Due Date (iii) 5.0% of the principal being prepaid if the Prepayment occurs on or after the 24th Installment Due Date and prior to the 36th Installment Due Date (iv) 4.0% of the principal being prepaid if the Prepayment occurs on or after the 36th Installment Due Date and prior to the 48th Installment Due Date (v) 3.0% of the principal being prepaid if the Prepayment occurs on or after the 48th Installment Due Date and prior to the 60th Installment D...
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FLOATING INTEREST RATE LOAN. If you have a Floating Interest Rate you may prepay the Loan in part or in full at any time and any amount prepaid may be available for redraw in accordance with clause 5 of these Loan Standard Terms and Conditions.
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Related to FLOATING INTEREST RATE LOAN

  • 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.

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

  • Additional Interest on Eurodollar Rate Advances The Borrower shall pay to each Lender, so long as such Lender shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender, from the date of such Advance until such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period for such Advance from (ii) the rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of such Lender for such Interest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender and notified to the Borrower through the Administrative Agent, and such determination shall be conclusive and binding for all purposes, absent manifest error.

  • Reserves on Eurodollar Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

  • Application of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans Considering each Class of Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

  • Reserves on Eurocurrency Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

  • Reserves on LIBOR Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error), payable on each date on which interest is payable on such Loan provided the Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to Agent) of such additional interest from the Lender. If a Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

  • Base Rate Advances During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

  • Eurodollar Rate Loans Any conversion to or from Eurodollar Rate Loans shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of all Eurodollar Rate Loans having the same Interest Period shall not be less than $1,000,000 or a whole multiple of $500,000 in excess thereof.

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