Base Rate Advances definition

Base Rate Advances means Advances that bear interest at rates based upon the Base Rate.

Base Rate Advances. Advances bearing interest calculated by reference to the Base Rate.

Base Rate Advances means Advances that bear interest based upon the Base Rate.

Examples of Base Rate Advances in a sentence

• Interest on Base Rate Advances then outstanding shall also be due and payable on the Maturity Date.

• During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (A) the Base Rate in effect from time to time plus (B) the Applicable Margin in respect of Base Rate Advances in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

• Each Base Rate Advance shall bear interest at the Adjusted Base Rate in effect from time to time plus the Applicable Margin for Base Rate Advances for such period.

• The minimum amount of Base Rate Borrowings which may be prepaid on any occasion shall be $10,000,000 or an integral multiple of $1,000,000 in excess thereof or, if less, the total amount of Base Rate Advances then outstanding for that Borrower.

• If such notice is given, then the outstanding principal amount of the LIBOR Advances shall be converted to Base Rate Advances effective from the date of the Rate Determination Notice; provided that the Applicable Liquidity Rate in respect of such Base Rate Advances shall be increased by one percent (1.00%).

More Definitions of Base Rate Advances

Base Rate Advances means Advances the rate of interest applicable to which is based upon the Base Rate. “Board” means the Board of Governors of the Federal Reserve System of the United States (or any successor). “Borrower” has the meaning set forth in the preamble to this Agreement.

Base Rate Advances means any Credit Extension on which interest is payable based on the Base Rate in accordance with the terms hereof.

Base Rate Advances based upon the ratings established by S&P and Xxxxx’x for the Index Debt as of the most recent determination date: Level I: At least BBB and Baa2 1.50% 0.50% Level II: Below I, but at least BBB- and Baa3 1.75% 0.75% Level III: Below II, but at least BB+ and Ba1 2.00% 1.00% Level IV: Below III, but at least BB+ and Ba2 or BB and Ba1 2.25% 1.25% Level V: Below IV, but at least BB and Ba2 2.50% 1.50% Level VI: Below V, but at least BB- and Ba3 2.75% 1.75% Level VII: Below VI, but at least B+ and B1 3.00% 2.00% Level VIII: Below VII, but at least B and B2 3.25% 2.25% Level IX: Below VIII 3.50% 2.50% For purposes of the foregoing (i) if either Xxxxx’x or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence hereof), then such rating agency shall be deemed to have established a rating in Level IX; (ii) except as set forth in the Pricing Grid above, if the ratings established or deemed to have been established by Xxxxx’x or S&P for the Index Debt shall fall within different Levels, the applicable percentage will be based on the lower of the two ratings unless one of the two ratings is two or more Levels lower than the other, in which case the applicable percentage shall be determined by reference to the Level next above that of the lower of the two ratings; and (iii) if the ratings established or deemed to have been established by Xxxxx’x or S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of Xxxxx’x or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the applicable percentage shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of Xxxxx’x or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, or if either such rating agency shall cease rating the Index Debt (other than by reason of any action or nonaction by any Borrowers following or in anticipation of a ratings downgrade), the Borrowers and the Lender Parties shall negotiate in good faith to amend this provision to reflect such changed rating system or the unavailability of ratings from such rating agency (including by way of substituting another rating agency mutually acceptable to the Borrowers and the...

Base Rate Advances means Revolving Advances bearing interest based on the Base Rate.

Base Rate Advances means Advances that bear interest at an interest rate based on the Base Rate. "Borrower" has the meaning set forth in the first paragraph of this Agreement.

Base Rate Advances means Advances that bear interest at rates based upon the Base Rate. Business Day shall mean (a) any day on which commercial banks are not authorized or required to close in Birmingham, Alabama and (b) if such day relates to the giving of notices or quotes in connection with a borrowing of, a payment or prepayment of principal of or interest on, a Conversion of or into, or an Interest Period for, a LIBOR Advance or a notice by Hibbett with respect to any such borrowing, payment, prepayment, Conversion or Interest Period, any day on which dealings in Dollar deposits are carried out in the London interbank market.

Base Rate Advances means the Loans (or any portions thereof), at such time as they (or such portions) are made and/or being maintained at a rate of interest based upon the Base Rate.