Libor Based Interest Rate Sample Clauses

Libor Based Interest Rate. At Debtor's option, amounts outstanding hereunder in minimum amounts of at least $500,000 and increments of at least $100,000 shall bear interest at a rate ("Fixed Rate") which is one and sixty one- hundredths percent (1.60%) per annum in excess of Bank's LIBOR Rate for the Interest Period selected by Debtor. Any Fixed Rate may not be changed, altered or otherwise modified until the expiration of the Interest Period selected by Debtor. The exercise of such interest rate option by Debtor shall be as recorded in Bank's records, which records shall be prima facie evidence of the amount borrowed under such interest rate option and the interest rate; provided, however, that the failure of Bank to make any such notation in its records shall not discharge Debtor from its obligations to repay in full with interest all amounts borrowed. In no event shall any Interest Period extend beyond the then Maturity Date. To select a Fixed Rate, Debtor may, from time to time with respect to principal outstanding on which a Fixed Rate is not accruing, and on the expiration of any Interest Period with respect to principal outstanding on which a Fixed Rate has been accruing, select an interest rate and an Interest Period by telephoning an authorized lending officer of Bank located at the banking office identified below prior to 10:00 a.m., Pacific time, on any Business Day and advising that officer of the Interest Period and the Fixed Rate Commencement Date selected (which Fixed Rate Commencement Date shall follow the date of such selection by no more than two (2) Business Days). In no event shall Debtor be entitled to select a Fixed Rate if an Event of Default shall have occurred and be continuing. In addition, no more than five (5) Fixed Rate Components may be outstanding under this Note at any one time. Further, notwithstanding anything to the contrary contained in this paragraph, Debtor shall not be entitled to select a Fixed Rate with respect to any portion of the outstanding principal balance of this Note which Debtor is obligated to repay to Bank prior to the expiration of the Interest Period for such Fixed Rate. Bank will mail a confirmation of the terms of the selection to Debtor promptly after the selection is made. Agent's failure to send such confirmation shall not affect Bank's rights to collect interest at the rate selected. If, on the date of the selection, the Fixed Rate selected is unavailable for any reason, the selection shall be void. Banks reserve the right ...
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Libor Based Interest Rate 
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Related to Libor Based Interest Rate

  • Fixed Interest Rate Annual interest rate shall be /% and will not change during the duration.

  • Fixed Interest Rates Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of ARD loans and situations where default interest is imposed.

  • INTEREST; INTEREST RATE (a) Interest on this Bond shall commence accruing at the Interest Rate (as defined in Section 30) from and including the Issuance Date and shall be computed on the basis of a three hundred and sixty (360)-day year comprised of twelve (12) thirty (30)-day months and shall be payable quarterly in arrears on January 1, April 1, July 1 and October 1 of each year (each, an “Interest Payment Date”) with the first Interest Payment Date being January 1, 2010. Interest shall be payable on each Interest Payment Date, to the record holders of this Bond as recorded in the Register (as defined in Section 3(g)) held by the Company on the applicable Record Date, at the Company’s option, (A) in whole in cash (“Cash Interest”), or (B) in whole in shares (“Interest Shares”) of the Company that are designated on the date hereof as common shares, par value $0.01 per share (the “Common Shares”), or (C) in a combination of Cash Interest and Interest Shares. In the event the Company decides to deliver Interest Shares on an Interest Payment Date, it must deliver a written notice (“Interest Election Notice”) to Holders no less than five (5) Trading Days prior to the Interest Payment Date (the date such notice is sent being the “Interest Notice Date”) pursuant to which notice, the Company elects to pay Interest entirely in Interest Shares or a combination of Cash Interest and Interest Shares and specifies the amount of Interest that shall be paid as Cash Interest and the amount of Interest that shall be paid in Interest Shares. Interest to be paid on an Interest Payment Date in Interest Shares shall be paid in a number of fully paid and nonassessable Common Shares equal to the quotient of (1) the amount of Interest payable on such Interest Payment Date less any Cash Interest paid and (2) the Interest Conversion Price in effect for the applicable Interest Payment Date (rounded down to the preceding whole number).

  • 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.

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate.

  • LIBOR Rate The election of LIBOR Rates shall be subject to the following terms and requirements:

  • Normal interest rate The Borrowers shall pay interest on each Tranche in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

  • Interest and Interest Rate (a) The Designated Securities will bear interest from March 1, 2019 or from the most recent date through which the Issuer has paid or provided for interest on the Designated Securities at an annual rate of 5.520%.

  • Conversion to Fixed Interest Rate The Mortgage Loan does not contain a provision whereby the Mortgagor is permitted to convert the Mortgage Interest Rate from an adjustable rate to a fixed rate;

  • 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.

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