Floating Rate Loans. Subject to Section 2.3A(ii), the Loans shall bear interest for each Quarterly Period at a rate per annum equal to the Applicable Rate for such period plus the Applicable Spread.
Floating Rate Loans. The Loans comprising each Floating Rate Advance shall bear interest at the Floating Rate.
Floating Rate Loans. During such periods as Loans shall be comprised in whole or in part of Floating Rate Loans, such Floating Rate Loans shall bear interest at a per annum rate equal to the Floating Rate.
Floating Rate Loans. Subject to the provisions of Section 2.08(b) and (c), (i) each Eurodollar Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Adjusted LIBO Rate for such Interest Period plus the Applicable Rate; (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable Borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable Borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate for Base Rate Loans.
Floating Rate Loans. At any time on or after April 1, 2009 and subject to Section 3.05, the Borrower may prepay the Floating Rate Loans at its option, in whole at any time or in part from time to time, upon not less than 30 nor more than 60 days’ prior notice to the Administrative Agent, at the following prepayment prices (expressed as a percentage of principal amount), plus accrued and unpaid interest to the prepayment date, if prepaid during the twelve-month period beginning on April 1 of the years indicated below: 2009 103.00 % 2010 102.00 % 2011 101.00 % 2012 and thereafter 100.00 %
Floating Rate Loans. Subject to the provisions of subsection (c) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Floating Rate Margin and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Floating Rate Margin. “Applicable Floating Rate Margin” means (x) for any Eurodollar Rate Loan, 3.625% and (y) for any Base Rate Loan, 2.625% plus, in each case, the Incremental Margin applicable at such time.
Floating Rate Loans. In the event a borrower fails to pay scheduled interest or principal payments on a floating rate loan, an Underlying Fund will experience a reduction in its income and a decline in the market value of such investment. This will likely reduce the amount of dividends paid and may lead to a decline in the net asset value. If a floating rate loan is held by an Underlying Fund through another financial institution, or an Underlying Fund relies upon another financial institution to administer the loan, the receipt of scheduled interest or principal payments may be subject to the credit risk of such financial institution. Investors in floating rate loans may not be afforded the protections of the anti- fraud provisions of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, because loans may not be considered “securities” under such laws. Additionally, the value of collateral, if any, securing a floating rate loan can decline or may be insufficient to meet the issuer’s obligations under the loan. Furthermore, such collateral may be difficult to liquidate. No active trading market may exist for many floating rate loans and many floating rate loans are subject to restrictions on resale. Transactions in loans typically settle on a delayed basis and may take longer than 7 days to settle. As a result, an Underlying Fund may not receive the proceeds from a sale of a floating rate loan for a significant period of time, which may affect an Underlying Fund’s ability to repay debt, to fund redemptions, to pay dividends, to pay expenses, or to take advantage of new investment opportunities. Focused Investing: To the extent that an Underlying Fund invests a substantial portion of its assets in securities related to a particular industry, sector, market segment, or geographic area, its investments will be sensitive to developments in that industry, sector, market segment, or geographic area. An Underlying Fund is subject to the risk that changing economic conditions; changing political or regulatory conditions; or natural and other disasters affecting the particular industry, sector, market segment, or geographic area in which an Underlying Fund focuses its investments could have a significant impact on its investment performance and could ultimately cause an Underlying Fund to underperform, or its net asset value to be more volatile than, other funds that invest more broadly. Foreign Investing/Developing and Emerging Markets: Investing...
Floating Rate Loans. Subject to subsection (d) below, while any outstanding principal of a Loan constitutes a Floating Rate Loan, the outstanding principal balance thereof shall bear interest at an annual rate at all times equal to the Floating Rate applicable to such Floating Rate Loan.
Floating Rate Loans. (a) Subject to the terms of §3.2.1(b), so long as no Default or Event of Default shall then exist, the Borrower shall have the right, at its election, to prepay the outstanding amount of the Floating Rate Loans (including, without limiting §3.2.3(b), the prepayment of the Floating Rate Loans of a single Tranche), in whole or in part, at any time without penalty or premium other than as provided in §3.2.1(b); provided that the outstanding amount of any Floating Rate Loans may not be prepaid on a date other than the last day of an Interest Period unless the Borrower pays the Libor Breakage Costs for each Libor Rate Loan so prepaid at the time of such prepayment. The Borrower shall give the Agent, no later than 10:00 a.m., Cleveland, Ohio time, at least three (3) Business Days’ written notice of any proposed prepayment pursuant to this §3.2.1(a) of Floating Rate Loans specifying the proposed date of prepayment of such Loans and the principal amount to be prepaid. Each such partial prepayment of the Floating Rate Loans shall be in an amount equal to $5,000,000 or an integral multiple of $1,000,000 in excess thereof or, if less, the then outstanding balance of the Floating Rate Loans of the applicable Tranche (or, if applicable, the outstanding balance of all Floating Rate Loans) and shall be accompanied by the payment of all charges, if any, outstanding on all Floating Rate Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment.
(b) The Borrower shall not make a voluntary prepayment, in whole or in part, on (i) any Tranche A Floating Rate Loan during the first two (2) years of the term thereof, (ii) any Tranche B Floating Rate Loan during the first three (3) years of the term thereof, or (iii) any Tranche C Floating Rate Loan during the first three (3) years of the term thereof (each of the foregoing periods, a “Floating Rate Prepayment Lockout Period”). Thereafter, if the Borrower repays:
(i) (A) any Tranche A Floating Rate Loan on or before the three-year anniversary of the Closing Date, or (B) any Tranche B Floating Rate Loan or Tranche C Floating Rate Loan on or before the four-year anniversary of the Closing Date, the Borrower shall pay to the Agent, for the accounts of the applicable Lenders, simultaneously with and as a condition to such prepayment, a prepayment premium in an amount equal to 2% of the principal amount prepaid;
(ii) (A) any Tranche A Floating Rate Loan during the period after the three-year anniversa...
Floating Rate Loans. Floating Rate Loans made on any one occasion shall be in the minimum principal amount of $25,000 or any higher integral multiple of $25,000. Principal payments will be in minimum principal amounts of $25,000 or any higher integral multiple of $25,000. The Company shall notify the Bank by telephone not later than 11:00 a.m. (Eastern Time) on the day of the proposed borrowing (or such other time and date as the Company and the Bank shall agree), specifying; the proposed date of borrowing, which shall be a Business Day, the amount of such borrowing, the interest rate, as determined in this Section, and the duration of the Interest Period or Interest Periods, if any, applicable thereto. The unpaid principal balance of each Floating Rate Loan made under the Revolving Note shall bear interest calculated in accordance with ss.9.5 and at the interest rate selected by the Company from the following options ("Interest Rate Option") on the date each Floating Loan is made:
