Variable Rate Indebtedness. In connection with the furnishing of its annual report to the RUS pursuant to Section 5.9, if requested by the RUS, the Borrower shall report to the RUS, in such written format as may be acceptable to the RUS, the specific maturities of all of the Borrower’s outstanding indebtedness and the interest rates applicable thereto, including, without limitation, with respect to any indebtedness not bearing a fixed rate through the maturity of such indebtedness the method and timing for adjustment and readjustment of the applicable interest rate.
Variable Rate Indebtedness. The Loans and all other Indebtedness of the Borrower which bears interest at a rate which is not fixed either through maturity or for a term of at least thirty-six (36) months from the date that such fixed rate became effective. Voting Interests. Stock or similar ownership interests, of any class or classes (however designated), the holders of which are at the time entitled, as such holders, (a) to vote for the election of a majority of the directors (or persons performing similar functions) of the corporation, association, partnership, trust or other business entity involved, or (b) to control, manage or conduct the business of the corporation, partnership, association, trust or other business entity involved.
Variable Rate Indebtedness. The aggregate pro rata amount of the Indebtedness (including the Obligations) of the Consolidated Group which is Variable Rate Indebtedness shall not exceed twenty percent (20%) of the Total Asset Value.
Variable Rate Indebtedness. The Loans and all other Indebtedness of the Borrower which bears interest at a rate which is not fixed through the maturity of such Indebtedness.
Variable Rate Indebtedness. The amount transferred or disbursed to any Debt Service Account pursuant to subsection (d) of this Section with respect to interest on Variable Rate Indebtedness shall be determined in a manner consistent with the Debt Service Calculation Assumption.
Variable Rate Indebtedness. In determining the Debt Service Requirements on any Indebtedness which provides for interest to be payable thereon at a rate per annum that may vary from time to time over the term thereof in accordance with procedures provided in the instrument creating such Indebtedness and which for any future period of time is not susceptible of precise determination, the interest rate on such Indebtedness for any period prior to the date of calculation or for which the interest rate has been determined shall be the actual interest rate payable during such period, and for each year in which such Indebtedness is Outstanding and for which the actual interest rate cannot be determined, the interest rate on such Indebtedness for the period of determination shall be deemed to be the higher of the average annual rate of interest payable on such Indebtedness during the 12 months immediately preceding the date of calculation or the current rate, or if such Indebtedness is to be incurred (or was incurred less than 12 months preceding such date), the higher of the initial rate or the average annual rate of interest payable on such Indebtedness during such period immediately preceding the date of calculation.
Variable Rate Indebtedness. Other than the Loan and construction loans for Projects, Borrower and Guarantor will not incur unprotected variable rate indebtedness in excess of Ten Million Dollars ($10,000,000).
Variable Rate Indebtedness. The Loans and all other Indebtedness of the Borrower which bears interest at a rate which is not fixed through the maturity of such Indebtedness. Voting Interests. Stock or similar ownership interests, of any class or classes (however designated), the holders of which are at the time entitled, as such holders, (a) to vote for the election of a majority of the directors (or persons performing similar functions) of the corporation, association, partnership, trust or other business entity involved, or (b) to control, manage or conduct the business of the corporation, partnership, association, trust or other business entity involved. 1.2.
Variable Rate Indebtedness. Other than the Loan and Construction Loans, Borrower, Guarantor and the Special Purpose Entities will not incur unprotected Variable Rate Indebtedness in excess of Ten Million Dollars ($10,000,000).
Variable Rate Indebtedness. In determining the Debt Service Requirements on any portion of Long-Term Indebtedness constituting Variable Rate Indebtedness in the course of the various calculations required under certain provisions of this Loan Agreement, interest on such portion of Indebtedness for the period of determination shall be computed by the Corporation (i) for any portion of Variable Rate Indebtedness that has a determinable fixed rate for any period, using such determinable fixed rate for such period (without regard to potential future rate adjustments based on conditions subsequent, e.g., taxable rates, default rates, and rating or corporate tax rate change based adjustments), and (ii) for any portion of Variable Rate Indebtedness for which the rate is not determinable, at the election of the Corporation, using one of (a) the Index Rate, (b) the rate based on any formula or index for such future period provided in the instrument for such Indebtedness determined using then current market information as of the date of computation, (c) the rate then in effect for such Indebtedness as of the date of computation, or (d) the actual average rate effective for the Indebtedness for the most recent 12-month period.
