Interest Rate Change Sample Clauses

Interest Rate Change. The Lease Rate Factors or the periodic Rent described in this Equipment Schedule have been calculated using an interest rate based on the 5-year U.S. Treasury Constant Maturity of 6.37% as described in the Federal Reserve Statistical Release H.15 ("Treasury Rate"). If on the Commencement Date for the last item of Equipment and/or Software prior to the beginning of the Initial Term, the Treasury Rate is greater or there is an adverse change in Lessee's credit standing, Lessor may adjust the Lease Rate Factors or the periodic Rent accordingly.
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Interest Rate Change. Notwithstanding anything to the contrary in the Agreements or the Notes, from and after the Effective Date (as defined in paragraph 5 below) and until the Reduction Date (as defined below) each of the Notes shall bear interest at a rate equal to the rate which would be borne by the Notes in the absence of this paragraph, plus 0.50%; and from and after the Reduction Date each of the Notes shall bear interest at a rate equal to the rate which would be borne by the Notes in the absence of this paragraph, plus 0.25%. As
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Interest Rate Change. 4. Principal Reduction
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Interest Rate Change. Horizon Bank reserves the right from time to time during the term of this Agreement to increase or decrease, at its election, the interest rate applicable to either A-Rated Loans or Sub-Prime Rated Loans by giving Mortgage Company five (5) days written notice of such interest rate change. The Parties agree that for the purposes of this paragraph 3.02 (4), facsimile notice to Mortgage Company shall be deemed sufficient notwithstanding any other provision in this Agreement to the contrary. Facsimile notice may be given by Horizon Bank to Mortgage Company at the following number: , or to such other number as Mortgage Company may identify to Horizon Bank in writing from time to time. The adjusted interest rate shall automatically become effective on the sixth (6th) calendar day following the date such written notice is sent to Mortgage Company ("Effective Date") but shall only apply to Loans (either A-Rated or Sub-Prime, depending on which type of Loan the interest rate change was applicable) purchased by Horizon Bank on or after the Effective Date. Such modified interest rate shall remain in effect until further notice is given by Horizon Bank to Mortgage Company consistent with this section 3.02 (4).
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Interest Rate Change. Pursuant to Section 3.1(b) of the Credit Agreement, Borrower hereby elects to change the interest rates applying to the portions of the Loan listed below. Borrower provides the following information: (a) Amount of Loan to be affected, (b) date on which the current interest rate applicable to the affected portion of the Loan became effected, (c) Type of interest rate currently applied (LIBOR or Base Rate), (d) interest rate currently applicable to such portion, (e) Type of interest rate to be applied from the effective date of this Notice (LIBOR or Base Rate), and (f) if a LIBOR Portion is requested, the requested Rate Period. Type of Interest to Requested Rate Amount Date Type (current) Rate (current) be Applied Period
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Interest Rate Change. Effective as of June 30, 2007, the definition of “Applicable Margin” is deleted and the following is substituted in lieu thereof:
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Interest Rate Change. Pursuant to Section 3.1(b) of the Credit Agreement, Borrower hereby elects to change the interest rates applying to the portions of the Loan listed below. Borrower provides the following information: (a) Amount of Loan to be affected, (b) date on which the current interest rate applicable to the affected portion of the Loan became effected, (c) Type of interest rate currently applied (LIBOR or Base Rate), (d) interest rate currently applicable to such portion, (e) Type of interest rate to be applied from the effective date of this Notice (LIBOR or Base Rate), and (f) if a LIBOR Portion is requested, the requested Rate Period. Amount Date Type (current) Rate (current) Type of Interest to be Applied Requested Rate Period ___________ ______ ____________ _______ _______________ ___________ ___________ ______ ____________ _______ _______________ ___________ ___________ ______ ____________ _______ _______________ ___________ 5. Continuation of LIBOR Rate Portion Pursuant to Section 3.1(b) of the Credit Agreement, Borrower hereby elects to continue the outstanding principal balances of the below listed LIBOR Rate Portions as such LIBOR Rate Portions. Borrower provides the following information: (a) The principal amount of such LIBOR Rate Portion to remain outstanding, (b) first date of the current Rate Period, (c) current Rate Period, and (d) requested Rate Period Amount to Remain Outstanding Date Current Rate Period Requested Rate Period _____________ _______ _______________ ________________ _____________ _______ _______________ ________________ _____________ _______ _______________ ________________
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Interest Rate Change. Effective January 1, 1998, -------------------- the Borrower shall pay interest in respect of the outstanding unpaid principal amount of all Revolving Credit Loans in accordance with the Revolving Credit Interest Rate Options set forth in Section 4.01 of the Credit Agreement plus an additional .25% per annum; such ---- change increasing the rate payable with respect to the Base Rate Option to the Base Rate plus .25% per annum and the rate payable ---- under the Euro-Rate Option to the Euro-Rate plus 2% per annum. ----
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Related to Interest Rate Change

  • 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 Computations All interest hereunder shall be computed on the basis of a year of 360 days, unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto.

  • Interest Rate Adjustment The interest rate payable on the Notes shall be subject to adjustments from time to time if either Xxxxx’x Investors Service, Inc., or any successor thereto (“Moody’s”) or Standard & Poor’s Ratings Services, a division of XxXxxx-Xxxx, Inc., or any successor thereto (“S&P”) downgrades (or subsequently upgrades) the debt rating assigned to the Notes, as set forth below. If the rating from Moody’s of the Notes is decreased to a rating set forth in the immediately following table, the interest rate on the Notes shall increase from the interest rate payable on the Notes on the date of their issuance (the “Original Interest Rate”) by the percentage set forth opposite that rating: Rating Percentage Ba1 0.25 % Ba2 0.50 % Ba3 0.75 % B1 or below 1.00 % If the rating from S&P of the Notes is decreased to a rating set forth in the immediately following table, the interest rate on the Notes shall increase from the Original Interest Rate by the percentage set forth opposite that rating: Rating Percentage BB+ 0.25 % BB 0.50 % BB- 0.75 % B+ or below 1.00 % Notwithstanding the foregoing, if at any time the interest rate on the Notes has been adjusted upward and either Moody’s or S&P, as the case may be, subsequently increases its rating of the Notes to any of the threshold ratings set forth in the tables above, the interest rate on the Notes shall be decreased such that the interest rate for the Notes equals the Original Interest Rate plus the percentages set forth opposite the ratings from the tables above in effect immediately following the increase. If Moody’s subsequently increases its rating of the Notes to Baa3 or higher and S&P increases its rating to BBB- or higher the interest rate on the Notes shall be decreased to the Original Interest Rate. Each adjustment required by any decrease or increase in a rating set forth above, whether occasioned by the action of Moody’s or S&P, shall be made independent of any and all other adjustments. In no event shall (1) the interest rate for the Notes be reduced to below the Original Interest Rate or (2) the total increase in the interest rate on the Notes exceed 2.00% above the Original Interest Rate. If either Moody’s or S&P ceases to provide a rating of the Notes, any subsequent increase or decrease in the interest rate of the Notes necessitated by a reduction or increase in the rating by the agency continuing to provide the rating shall be twice the percentage set forth in the applicable table above. No adjustments in the interest rate of the Notes shall be made solely as a result of either Moody’s or S&P ceasing to provide a rating. If both Moody’s and S&P cease to provide a rating of the Notes, the interest rate on the Notes shall increase to, or remain at, as the case may be, 2.00% above the Original Interest Rate. Any interest rate increase or decrease described above shall take effect from the first day of the interest period during which a rating change requires an adjustment in the interest rate. The interest rate on the Notes shall permanently cease to be subject to any adjustment described above (notwithstanding any subsequent decrease in the ratings by either or both rating agencies) and, if applicable, shall be decreased to the Original Interest Rate, if the Notes become rated Baa2 and BBB or higher by Moody’s and S&P, respectively (or one of these ratings if only rated by one rating agency), with a stable or positive outlook by each of the rating agencies.

  • 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 Determination (a) The Administrative Agent shall give prompt notice to the Borrower and the Lenders of the applicable interest rate determined by the Administrative Agent for purposes of Section 2.11(a) or (b), and, if applicable, the rate for the purpose of determining the applicable interest rate under Section 2.11(c).

  • Interest Rate Adjustments With respect to each ARM Mortgage Loan, all Mortgage Interest Rate adjustments have been made in strict compliance with state and federal law and the terms of the related Mortgage Note. Any interest required to be paid pursuant to state and local law has been properly paid and credited.

  • Interest Rate Determinations Administrative Agent shall give notice to Borrower and each Lender of the applicable interest rates for the purposes of Section 2.03 and any calculation related thereto.

  • Interest Rate Limitation Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

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