INTEREST RATE APPLICABLE TO BRIDGE LOANS Sample Clauses

INTEREST RATE APPLICABLE TO BRIDGE LOANS. The Bridge Loans shall be Base Rate Loans unless, not later than three Business Days prior to the Closing Date, the Borrower shall irrevocably specify in a written notice (a "Rate Selection Notice") delivered to the Paying Agent that the Bridge Loans will be LIBOR Loans. Subject to Sections 2.4(d), (e) and (f) below prior to the Extension Date:
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INTEREST RATE APPLICABLE TO BRIDGE LOANS. Subject to Section 2.3(c), the unpaid principal balance of each Bridge Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Interest Rate then in effect.
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INTEREST RATE APPLICABLE TO BRIDGE LOANS. The Bridge Loans shall bear interest at the rate of 1.0% per month, payable in cash.
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INTEREST RATE APPLICABLE TO BRIDGE LOANS. The Bridge Loans shall be Base Rate Loans until the Borrower shall irrevocably specify in a written notice (a "RATE SELECTION NOTICE") delivered to the Administrative Agent, or otherwise agree with the Lenders, that the Bridge Loans shall be Eurodollar Rate Loans. Subject to Sections 2.4(d), (e) and (f) below (i) if the Bridge Loans are Base Rate Loans (prior to a Rate Selection Notice or pursuant to Section 2.9 (b) or (c)), the unpaid principal balance thereof shall bear interest until paid at a rate per annum equal to the sum of the Base Rate plus the Applicable Margin, changing when and as the Base Rate and/or the Applicable Margin changes, and (ii) if the Bridge Loans are Eurodollar Rate Loans, the unpaid principal balance thereof shall bear interest until paid at a rate per annum equal to the sum of the Eurodollar Rate plus the Applicable Margin, changing when and as the Eurodollar Rate and/or the Applicable Margin changes.
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INTEREST RATE APPLICABLE TO BRIDGE LOANS. Not later than three Business Days prior to the Closing Date, the Borrower shall irrevocably deliver a written notice of borrowing (a "NOTICE OF BORROWING") to the Administrative Agent. Subject to Sections 2.4(d), (e) and (f) below, the unpaid principal balance thereof shall bear interest in the following manner: (i) as of the Closing Date and as of the beginning of each of the three subsequent Interest Periods, interest shall be equal to 8.0% plus an initial margin of 0 basis points; at the end of the Interest Period beginning on the Closing Date, such interest rate margin shall increase by 0.25% and thereafter shall increase by an additional 0.25% at the end of each of the three subsequent Interest Periods, (ii) as of the first day following the Initial Maturity Date and as of the beginning of each subsequent Interest Period, interest shall be payable at the greatest of the following: (A) three-month LIBOR plus 9.33%; (B) the Treasury Rate plus 6.33%; (C) a rate equal to the average of the yield of (x) the Xxxxxx Xxxxxxx High Yield core investable (MSHYci) Global BBs Corporate Bond Index and (y) the Xxxxxx Xxxxxxx High Yield core investable (MSHYci Global Bs Corporate Bond Index, plus 3.35%; (D) in the case of each subsequent Interest Period only, the rate in effect during the prior quarterly period plus 0.50%; and (E) 10.5% plus an initial margin of 0 basis points; at the end of the Interest Period beginning on the first day following the Initial Maturity Date, such interest rate margins shall increase by 0.50% and thereafter shall increase by an additional 0.50% at the end of each subsequent Interest Period for so long as the Bridge Loans are outstanding. AGCO Bridge Loan Agreement
Sample 1
INTEREST RATE APPLICABLE TO BRIDGE LOANS. Not later than three Business Days prior to the Closing Date and prior to each Interest Period thereafter, the Borrower shall irrevocably specify in a written notice (a "RATE SELECTION NOTICE") delivered to the Administrative Agent whether the Interest Rate applicable
Sample 1
INTEREST RATE APPLICABLE TO BRIDGE LOANS. The Bridge Loans shall be Base Rate Loans until the Borrower shall irrevocably specify in a written notice (a "Rate Selection Notice") delivered to the Administrative Agent, or otherwise agree with the Lenders, that the Bridge Loans shall be Eurodollar Loans. Subject to Sections 2.3(d), (e) and (f) below:
Sample 1
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INTEREST RATE APPLICABLE TO BRIDGE LOANS. As Of and Following the Anniversary Date. Subject to Sections 2.3(d), (e) and (f) below, interest on the unpaid principal balance of all Bridge Loans outstanding at any time on and after the Anniversary Date shall accrue interest at a rate per annum equal to the Continuing Rate plus the Continuing Spread, changing when and as the Continuing Rate and/or Continuing Spread changes. If the Bridge Loans are Base Rate Loans (pursuant to Section 2.8(b) or (c)), the unpaid principal balance thereof shall bear interest until paid at a rate per annum equal to the sum of the Base Rate plus the Continuing Spread, changing when and as the Base Rate and/or the Continuing Spread changes.
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Related to INTEREST RATE APPLICABLE TO BRIDGE LOANS

  • Interest Rate Contracts The Borrower shall at all times from and after the date of this Agreement maintain in full force and effect, an Interest Rate Contract(s) in form and substance satisfactory to Agent in an amount necessary to ensure that the outstanding “Debt” (as hereinafter defined) of Borrower, the Guarantors and their respective Subsidiaries that is Variable Rate Debt does not exceed twenty-five percent (25%) of Consolidated Total Adjusted Asset Value of the Borrower. The Interest Rate Contract(s) shall be provided by any Bank which is a party to this Agreement or a bank or other financial institution that has unsecured, uninsured and unguaranteed long-term debt which is rated at least A-3 by Xxxxx’x Investor Service, Inc. or at least A- by Standard & Poor’s Corporation. The Borrower shall upon the request of the Agent provide to the Agent evidence that the Interest Rate Contract(s) is in effect. For the purposes of this §7.18, the term “Debt” shall mean any indebtedness of the Borrower, the Guarantors or any their respective Subsidiaries, whether or not contingent, and without duplication, in respect of (i) borrowed money evidenced by bonds, notes, debentures or similar instruments or (ii) indebtedness secured by any mortgage, pledge, lien, charge, encumbrance or any security interest existing on property owned by the Borrower, any Guarantor or any of their respective Subsidiaries, to the extent that any such items would appear as a liability on the balance sheet of the Borrower, the Guarantors or any of their respective Subsidiaries in accordance with GAAP, and also includes, to the extent not otherwise included, any obligation by the Borrower, the Guarantors or any of their respective Subsidiaries to be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes of collection in the ordinary course of business), indebtedness of another Person (other than the Borrower, any Guarantor or any of their respective Subsidiaries) (it being understood that Debt shall be deemed to be incurred by the Borrower, the Guarantors or any of their respective Subsidiaries whenever the Borrower, any Guarantor or any of their respective Subsidiaries shall create, assume, guarantee or otherwise become liable in respect thereof).

  • Interest Rate Agreements 13 Investment..................................................................13

  • Interest Rate Protection Agreements (a) Within ninety days after the Closing Date, the Borrower shall enter into and thereafter maintain interest rate protection agreements (protecting against fluctuations in interest rates) having a term of at least three years from the Closing Date, establishing a fixed or maximum interest rate of 10.5% per annum for an aggregate notional amount equal to at least 50% of the aggregate principal amount of all Term Loans then outstanding.

  • Interest Rate Protection Agreement As of the date hereof, Borrower has entered into, made all payments required under, and satisfied all conditions precedent to the effectiveness of, an interest rate protection agreement that satisfies all of the following conditions (such interest rate protection agreement together with (i) any extension thereof or (ii) any other interest rate protection agreement entered into pursuant to Section 2.8, being referred to herein as the “Interest Rate Protection Agreement”):

  • Optional Conversion of Revolving Credit Advances The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07 and 2.11(a), Convert all Revolving Credit Advances of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type (it being understood that such Conversion of a Revolving Credit Advance or of its Interest Period does not constitute a repayment or prepayment of such Revolving Credit Advance); provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall be substantially in the form of Exhibit H hereto, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower.

  • Interest Rate Options The Borrower shall pay interest in respect of the outstanding unpaid principal amount of the Loans as selected by it from the Base Rate Option or LIBOR Rate Option set forth below applicable to the Loans, it being understood that, subject to the provisions of this Agreement, the Borrower may select different Interest Rate Options and different Interest Periods to apply simultaneously to the Loans comprising different Borrowing Tranches and may convert to or renew one or more Interest Rate Options with respect to all or any portion of the Loans comprising any Borrowing Tranche; provided that (i) there shall not be at any one time outstanding more than ten (10) Borrowing Tranches in the aggregate among all of the Loans and (ii) if an Event of Default or Potential Default exists and is continuing, the Borrower may not request, convert to, or renew the LIBOR Rate Option for any Loans and the Required Lenders may demand that all existing Borrowing Tranches bearing interest under the LIBOR Rate Option shall be converted immediately to the Base Rate Option, subject to the obligation of the Borrower to pay any indemnity under Section 5.9 [Indemnity] in connection with such conversion. If at any time the designated rate applicable to any Loan made by any Lender exceeds such Lender’s highest lawful rate, the rate of interest on such Lender’s Loan shall be limited to such Lender’s highest lawful rate.

  • Interest Rate Cap Agreement (a) The Interest Rate Cap Agreement in effect on the Closing Date has a LIBOR strike price equal to the Strike Price and a scheduled termination date of the Initial Maturity Date. The Interest Rate Cap Agreement (i) is in a form and substance reasonably acceptable to Lender, (ii) is with an Acceptable Counterparty, (iii) directs such Acceptable Counterparty to pay directly to an account pledged to Lender any amounts due Borrower under such Interest Rate Cap Agreement unless and until otherwise instructed by Lender (it being agreed as between Lender and Borrower that Lender will so instruct the Counterparty at such time as the Debt shall no longer exist, provided that the Debt shall be deemed to exist if the Properties are transferred by judicial or non-judicial foreclosure or deed-in-lieu thereof), and (iv) has a notional amount at least equal to the principal balance of the Loan outstanding on the Closing Date (it being understood that the notional amount of the Interest Rate Cap Agreement may be reduced, from time to time, as the principal balance of the Loan is reduced (in the amounts of such reduction in principal) pursuant to clause (g) below). Borrower shall collaterally assign to Collateral Agent (for the benefit of Lender), pursuant to the Collateral Assignment of Interest Rate Cap Agreement, all of its right, title and interest to receive any and all payments under the Interest Rate Cap Agreement, and shall deliver to Collateral Agent an executed counterpart of such Interest Rate Cap Agreement (which shall, by its terms, authorize the assignment to Collateral Agent (for the benefit of Lender) and require that payments be paid directly into an account pledged to Collateral Agent (for the benefit of Lender) as provided above in this Section 2.2.7). Provided no Event of Default has occurred and is continuing, amounts contained in the foregoing pledged account shall be released to Borrower on a monthly basis to the extent not applied toward debt service on the Loan.

  • Interest Rate Risk Management Instruments (a) Set forth on Schedule 2.26(a) is a list as of the date ---------------- hereof of all interest rate swaps, caps, floors and option agreements and other interest rate risk management arrangements to which Seller or any of the Seller Subsidiaries is a party or by which any of their properties or assets may be bound.

  • Manner of Borrowing Loans and Designating Applicable Interest Rates Notice to the Administrative Agent 9

  • Collection Practices; Escrow Deposits; Interest Rate Adjustments The origination, servicing and collection practices used by the Seller and the Interim Servicer with respect to the Mortgage Loan have been in all respects in compliance with Accepted Servicing Practices, applicable laws and regulations, and have been in all respects legal and proper. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of, or under the control of, the Seller or the Interim Servicer and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments have been collected in full compliance with state and federal law and the provisions of the related Mortgage Note and Mortgage. An escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every item that remains unpaid and has been assessed but is not yet due and payable. No escrow deposits or Escrow Payments or other charges or payments due the Seller have been capitalized under the Mortgage or the Mortgage Note. All Mortgage Interest Rate adjustments have been made in strict compliance with state and federal law and the terms of the related Mortgage and Mortgage Note on the related Interest Rate Adjustment Date. If, pursuant to the terms of the Mortgage Note, another index was selected for determining the Mortgage Interest Rate, the same index was used with respect to each Mortgage Note which required a new index to be selected, and such selection did not conflict with the terms of the related Mortgage Note. The Seller or the Interim Servicer executed and delivered any and all notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Any interest required to be paid pursuant to state, federal and local law has been properly paid and credited;

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