Market Rate Loans Sample Clauses

Market Rate Loans. (a) Notwithstanding any provisions ----------------- of this Agreement to the contrary, any Bank may, from time to time, make Market Rate Loans denominated in Dollars or in any Alternate Currency to any Borrower bearing interest at such rate (hereinafter called such Bank's "Market Rate") of interest as may be agreed upon by the Borrower and such Bank. Each Bank may in its sole discretion negotiate with any Borrower concerning the offering of Loans at a Market Rate (hereinafter called "Market Rate Loans"); provided, that -------- nothing contained in this Agreement shall be deemed to require any Bank to offer Market Rate Loans to any Borrower. In the event that any Borrower and any Bank agree to the making of a Market Rate Loan, such Market Rate Loan shall be made severally by such Bank directly to such Borrower without participation in such Market Rate Loan by any other Bank. Such Market Rate Loan may be on such further terms and conditions, including the right of the Borrower to prepay such Market Rate Loan, as may be agreed upon by the Borrower and such Bank. (b) Notwithstanding anything to the contrary contained in this Agreement, all payments or prepayments made in respect of Market Rate Loans made by a Bank pursuant to Section 1.3(a) shall be made directly to such Bank, and ------- ------ such Bank shall not be subject to the provisions of Section 6.3 or 6.4 in ------- --- --- respect of any such payments so received. (c) Upon the making of, or any repayment of principal of, any Market Rate Loan, Borrower shall give the Depositary Bank prompt written, facsimile or telephonic notice of such Market Rate Loan or repayment, which notice shall state the Borrower, the principal amount of such Market Rate Loan or the amount of such repayment, the maturity date of such Market Rate Loan (if applicable) and, if such Market Rate Loan is an Alternate Currency Loan, the Alternate Currency, the Dollar equivalent of the principal amount thereof and the Alternate Currency Payment Office. (d) Market Rate Loans shall not be subject to the limitations on the aggregate amount of the Credit as provided in Section 1.1.4 and shall not reduce ------- ----- the amount of any Bank's unused Commitment. (e) The Company shall designate for each Alternate Currency in which any Borrower proposes to borrow an Alternate Currency Loan an office of a bank at which the proceeds of Alternate Currency Loans denominated in such Alternate Currency will be made available to Borrower and paym...
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Market Rate Loans. The Borrower shall pay interest monthly in arrears to the Bank on the outstanding and unpaid principal amount of the Market Rate Loans at the Market Rate.
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Related to Market Rate Loans

  • 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.

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.

  • 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.

  • Bid Rate Loans The Borrower shall repay the entire outstanding principal amount of, and all accrued but unpaid interest on, each Bid Rate Loan on the last day of the Interest Period of such Bid Rate Loan.

  • Prime Rate Loans During such periods as the Term Loan shall be comprised of Prime Rate Loans, each such Prime Rate Loan shall bear interest at a per annum rate equal to the Prime Rate; and

  • Eurocurrency Rate Advances During such periods as such Advance is a Eurocurrency Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurocurrency Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurocurrency Rate Advance shall be Converted or paid in full.

  • Base Rate Loans During such periods as Revolving Loans shall be comprised in whole or in part of Base Rate Loans, such Base Rate Loans shall bear interest at a per annum rate equal to the Adjusted Base Rate.

  • LIBOR Loans Subject to the provisions hereof and provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.2, requested the Lenders to continue to extend credit by way of a LIBOR Loan to replace all or a portion of an outstanding LIBOR Loan as it matures, each Lender shall, on the maturity of such LIBOR Loan, continue to extend credit to the Borrower by way of a LIBOR Loan (without a further advance of funds to the Borrower) in the principal amount equal to such Lender’s Pro Rata Share of the principal amount of the matured LIBOR Loan or the portion thereof to be replaced.

  • Eurodollar Rate Advances During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full.

  • LIBOR Advances The interest rate applicable to each LIBOR Advance shall be determined in accordance with Section 3.6(a) hereunder. Subject to Sections 3.6 and 3.7, such rate shall apply during the entire Interest Period applicable to such LIBOR Advance, and interest calculated thereon shall be payable on the Interest Payment Date applicable to such LIBOR Advance.

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