Balance Funded definition

Balance Funded means as applied to the Base Rate or Federal Funds Rate Loans of a Bank on any day (or for such other period as the Borrower and such Bank may agree), the aggregate principal amount of such Loans not in excess of such Bank's Allocated Qualifying Balances on such day (or for such period).
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Examples of Balance Funded in a sentence

  • Upon the giving of such Notice, the obligation of such Lender to charge interest at the Balance Funded Rate based on Borrowers’ Eligible Balances shall be immediately suspended for the duration of such illegality and with respect to Advances bearing interest at the Balance Funded Rate, each such Advance of such Lender shall bear interest at the applicable Interest Rate described in Exhibit H.

  • A Balance Funded Rate may only be selected where a Buyer is holding Qualifying Balances and shall only be applicable to such Buyer.

  • A Balance Funded Rate Segment consisting of any portion of a Gestation Loan Tranche shall bear interest at the rate of 0.65% per annum.

  • Each Lender's Loans (exclusive of any past due principal) from time to time outstanding shall bear interest on each day outstanding at the Applicable Rate in effect on such day; provided, however, that the portion of such Lender's Loans which is equal to the Balance Funded Amount for such Lender computed for the immediately preceding Balance Calculation Period, shall bear interest on each day outstanding at the Balance Funded Rate.

  • In the event Borrowers elect to have all or a portion of any Lender's Advances bear interest at the Balance Funded Rate during any month, such Lender shall notify Credit Agent no later than 12:00 Noon on the second Business Day of the following month of the estimated amount by which the interest to be paid by Borrowers on such Lender's Advances during such month was reduced as a result of the application of such Balance Funded Agreement.

  • After the end of each calendar month, the Lender will calculate the interest due for the applicable month, by electing a portion ("Balance Funded Portion") of the Applicable Advances which is equal to the lesser of (a) the Applicable Advances outstanding during such month or (b) the average amount of Eligible Balances on deposit with a Designated Bank during such month.

  • Borrowers may give written notice to any Lender with which it has a Balance Funded Agreement, as and when provided in such Balance Funded Agreement, of Borrowers’ election to have a portion (the “Balance Funded Portion”) of the principal amount of such Lender’s Warehousing Advances bear interest at the Balance Funded Rate during any calendar month.

  • Subject to the terms and conditions of this Agreement, the Company shall designate, on any Borrowing Date, all or portions of the Loans to be made on such Borrowing Date as one or more LIBOR Rate Advances, Balance Funded Rate Advances or Prime Rate Advances.

  • If any Buyer determines that it may not lawfully continue to maintain any LIBOR Rate Tranches or Balance Funded Rate Tranches, all of the affected Tranches shall be automatically converted as of the date of such Buyer’s notice to bear interest at a rate equal to the Federal Funds Rate plus 0.50% plus the LIBOR Margin and, in such event, the Seller will thereafter be entitled to designate subsequent Tranches to bear interest at the Federal Funds Rate plus 0.50% plus the LIBOR Margin.

  • Except as otherwise specified in this Section 5, the Pricing Rate to be applied to the Purchase Prices of Purchased Loans to determine the Price Differential in all Open Transactions shall be the LIBOR Rate plus the LIBOR Margin applicable from time to time (in each case computed annually); provided that the Pricing Rate (except with respect to the Balance Funded Rate) shall not in any event be less than ****.