Examples of Base Rate Borrowing Tranche in a sentence
Borrower shall not select or renew an Interest Period for any Base Rate Borrowing Tranche that would end after the Expiration Date.
The Base Rate applicable to any Base Rate Borrowing Tranche hereunder shall, subject to the provisions set forth below, equal the Base Rate set forth in the Loan Request, which shall be equal to the Base Rate as such rate exists on the date of the Loan Request.
For the purpose of determining whether any applicable law limiting the amount of interest or other charges permitted to be collected from Borrower has been violated, all Indebtedness that constitutes interest, as well as all other charges made in connection with the Indebtedness that constitute interest, shall be deemed to be allocated and spread ratably over each Base Rate Borrowing Tranche and Prime Rate Borrowing Tranche comprising this Note, if any, over the stated term of this Note.
For any Base Rate Borrowing Tranche, Borrower may make, if available, a LIBO Rate election by delivering a Rate Election Notice before 12:00 p.m., Eastern time, on the second Business Day prior to the Borrowing Date.
The holder of this Note is authorized to record on Schedule A annexed hereto and incorporated herein by reference, or on a continuation thereof, the date, and the correct amount of each Base Rate Borrowing Tranche and Prime Rate Borrowing Tranche made pursuant to the Credit Agreement; provided, however, that the failure to make any such recordation shall not affect the obligations of Lender or Borrower in respect of such Base Rate Borrowing Tranche and Prime Rate Borrowing Tranche.
Any request of an increase to an existing Base Rate Borrowing Tranche shall be in an amount not less than $1,000,000.
The Accrued Interest for any Base Rate Borrowing Tranche shall be an amount equal to the interest, applicable to the particular Borrowing Tranche being prepaid, which would have otherwise accrued over the remainder of the applicable Interest Period (“Accrued Interest”).
Thereafter the LIBO Rate shall be the index rate for each Base Rate Borrowing Tranche resulting from a Loan Request or Renewal Request, as the case may be, received on or after the effective date specified in Borrower's notice.
The Net Spread and Margin shall be increased by [ _____ ] basis points ([ _____ ]) for any Base Rate Borrowing Tranche having a three-month Interest Period, increased by [ _____ ] basis points ([ _____ ]) for any Base Rate Borrowing Tranche having a six-month Interest Period, and increased by [ _____ ] basis points ([ _____ ]) for any Base Rate Borrowing Tranche having a twelve-month Interest Period.
The Base Rate applicable to any Base Rate Borrowing Tranche hereunder shall, subject to the provisions set forth below, equal the Base Rate set forth in the Loan Request, which shall be the Base Rate as it exists on the date of the Loan Request.