Base Rate Loan definition

Base Rate Loan means a Loan that bears interest based on the Base Rate.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Base Rate Loan means a Revolving Credit Loan or a Term Loan that bears interest based on the Base Rate.

Base Rate Loan means a Loan bearing interest at a fluctuating rate determined by reference to the Alternate Base Rate.

Examples of Base Rate Loan in a sentence

• Accrued and unpaid interest on each Base Rate Loan shall be payable in arrears on (i) with respect to interest accrued during a calendar month, the fifteenth day of the immediately succeeding calendar month, and (ii) with respect to all accrued and unpaid interest, on the Termination Date.

• If the Borrower shall fail to specify (1) an Interest Period in the case of a SOFR Loan, then such SOFR Loan shall be deemed to have an Interest Period of one month or (2) the Type of Revolving Loan requested, then such Revolving Loan shall be deemed to be a Base Rate Loan.

• Each Swing Line Loan shall be a Base Rate Loan or a SOFR Swing Line Loan.

• By no later than 12:00 noon (a) two U.S. Government Securities Business Days prior to the date of the requested conversion of a SOFR Loan to a Base Rate Loan and (b) three U.S. Government Securities Business Days prior to the date of the requested continuation of a SOFR Loan or conversion of a Base Rate Loan to a SOFR Loan, the Borrower shall provide a written Notice of Continuation/Conversion in the form of Exhibit 2.3, setting forth whether the Borrower wishes to continue or convert such Revolving Loans.

• Such Notice of Borrowing must be received by the Agent no later than 1:00 p.m. (New York City Time) one (1) Business Day prior to the Closing Date, specifying: (A) the amount of such Borrowing; and (B) whether such Borrowing is to be a SOFR Borrowing or a Base Rate Loan (and if not specified, it shall be deemed a request for a Base Rate Loan).

More Definitions of Base Rate Loan

Base Rate Loan means a Loan bearing interest at a rate specified in Section 1.4(a) hereof.

Base Rate Loan means each Loan designated or deemed designated as such by the Borrower at the time of the incurrence thereof or conversion thereto.

Base Rate Loan means a Loan which bears or is to bear interest at a rate based upon the Base Rate, and is to be made as a Base Rate Loan pursuant to the applicable Notice of Borrowing, Section 2.02(f), or Article VIII, as applicable.

Base Rate Loan means (i) a Loan which bears interest at the Base Rate pursuant to the applicable Notice of Borrowing or Notice of Interest Rate Election or the provisions of Article 8 or (ii) an overdue amount which was a Base Rate Loan immediately before it became overdue.

Base Rate Loan means the portion of the Advances that bears interest at a rate determined by reference to the Base Rate.

Base Rate Loan means a Committed Loan to be made by a Bank as a Base Rate Loan in accordance with the applicable Notice of Committed Borrowing or pursuant to Article VIII.

Base Rate Loan means a Loan denominated in US Dollars that bears interest based on the Base Rate. All Base Rate Loans shall be denominated in US Dollars.