Term Base Rate Loan Clause Samples
The 'Term Base Rate Loan' clause defines the terms under which a loan is provided at a variable interest rate, typically tied to a benchmark rate such as the prime rate or LIBOR, plus a specified margin. This clause outlines how the base rate is determined, how often it may change, and the borrower's obligations regarding interest payments. By specifying these details, the clause ensures both parties understand how interest costs may fluctuate over the loan term, thereby allocating the risk of interest rate changes and providing transparency in loan repayment expectations.
Term Base Rate Loan. The Term Loans bearing interest by reference to the Base Rate. Term LIBOR Rate Loans. The Term Loans bearing interest by reference to LIBOR.
Term Base Rate Loan. The Term Loans bearing interest by reference to the Base Rate. Term LIBOR Rate Loans. The Term Loans bearing interest by reference to LIBOR. Term Loan or Term Loans. An individual Term Loan or the aggregate Term Loans, as the case may be, in the maximum principal amount of $37,500,000.00 (subject to increase as provided in §2.11) made by the Term Loan Lenders hereunder.