Basic Interest definition

Basic Interest means the fixed rate of interest payable on the outstanding balance of each Loan at the applicable Designated Rate.

Basic Interest means the rate of interest payable on the outstanding balance of each Loan at the applicable Designated Rate.

Basic Interest shall have the meaning given it in Section 2(a) below.

Examples of Basic Interest in a sentence

• Principal, Basic Interest and all other sums owed under any Loan Document shall be evidenced by entries in records maintained by each Lender for such purpose.

• Except as otherwise specified in the applicable Note and/or Supplement, Basic Interest on the outstanding principal balance of each Loan shall accrue daily at the Designated Rate from the Borrowing Date.

• Each payment on and any other credits with respect to principal, Basic Interest and all other sums outstanding under any Loan Document shall be evidenced by entries in such records.

• Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used.

More Definitions of Basic Interest

Basic Interest means the accrued interest due and payable on the outstanding Loan Amount as calculated at the Designated Rate.

Basic Interest the meaning given to it in paragraph 2.6.

Basic Interest as defined in Section 2.5 hereof.

Basic Interest means the component of the Applicable Rate hereunder comprised of the Prime Rate plus 9%; this is the component of interest of this Debenture which is payable monthly, in cash, to the extent permitted under the July Senior Lender Intercreditor Agreement.

Basic Interest as defined in Section 2.5 hereof. Basic Interest Rate: (a) as to Tranche D, the variable rate of interest per annum, adjusted as of each Base Rate Determination Date, equal to the Base Rate in effect as of each such Base Rate Determination Date, plus 350 basis points, but in no event shall the Basic Interest Rate, as to Tranche D, exceed the rate permitted by Applicable Usury Law or fall below 4.5% per annum, and (b) as to Tranche E, the variable interest rate per annum, adjusted as of each Base Rate Determination Date, equal to the Base Rate in effect as of each Base Rate Determination Date, plus 325 basis points, but in no event shall the Basic Interest Rate, as to Tranche E, exceed the rate permitted by the Applicable Usury Law or fall below 4.00% per annum. BFC:BFC Financial Corporation, a Florida corporation. Big Cedar Project: that certain vacation ownership project, commonly known as Bluegreen Wilderness Club at Big Cedar, located in Ridgedale, Missouri. Big Cedar Timeshare Association: Big Cedar Wilderness Club Condominium Association, Inc., a Missouri corporation not-for-profit, which is the association established in accordance with the Big Cedar Timeshare Declaration to manage the Big Cedar Timeshare Program and in which all owners of Timeshare Interests at the Big Cedar Project will be members. Big Cedar Timeshare Declaration: that declaration of covenants, conditions and restrictions which has been executed by Borrower, recorded in the real estate records of the county where the Big Cedar Project is located, and has established the Big Cedar Timeshare Program.

Basic Interest means interest accruing at the annual rate of fourteen percent (14%) per annum, compounded quarterly, as set forth in the Note and on the amount of the Indebtedness set forth in the Note.

Basic Interest means, for any period of reference during the term of this Note, interest at the LIBOR-Based Rate on the principal balance from time to time remaining unpaid.