Examples of Cost of Funds Advance in a sentence
At all times such Advance is a Cost of Funds Advance, the Borrower shall pay interest on the unpaid principal amount of such Cost of Funds Advance from the date of such Cost of Funds Advance until such principal amount shall be paid in full at a rate per annum equal to the Cost of Funds Rate in effect from time to time plus the Applicable Margin for Eurodollar Advances in effect from time to time.
A Swing Line Advance denominated in Dollars shall be a Base Rate Advance, a Swing Line Advance denominated in Sterling shall be an Overnight Eurocurrency Rate Advance and a Swing Line Advance denominated in Euros shall be a Cost of Funds Advance.
During such periods as such Advance is a Cost of Funds Advance, a rate per annum equal at all times to the sum of (A) the Cost of Funds in effect from time to time plus (B) the Applicable Margin in effect from time to time with respect to such Advance, payable quarterly in arrears on the first Business Day following each Fiscal Quarter during such periods and upon repayment of such Advance.
Requests for Advances received after such time may, at the Bank's option, be deemed to be a request for an Advance to be made on the next succeeding Business Day for a Variable Rate Advance and the third succeeding Business Day for a Eurocurrency Advance or a Cost of Funds Advance.
Each LIBOR Advance and Cost of Funds Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such LIBOR Advance or Cost of Funds Advance, as applicable.
Alternate Base Rate Advances shall continue as Alternate Base Rate Advances unless and until such Alternate Base Rate Advances are converted into a LIBOR Advance or a Cost of Funds Advance.
If the Swing Line Lender elects to make a Cost of Funds Advance, it shall notify the Borrower thereof and of the Cost of Funds Rate being offered prior to 11:00 a.m. (Atlanta time) on the Business Day of such requested Advance.
Each Swing Line Borrowing shall be in an amount of $100,000 or an integral multiple of $10,000 in excess thereof and shall be made, at the determination of the Borrower, either (i) as a Base Rate Advance, (ii) as a Swing Line Cost of Funds Advance or (iii) as an Advance bearing interest as the Borrower and the Applicable Swing Line Bank shall otherwise agree.
Each Alternate Base Rate Advance shall bear interest on the outstanding principal amount thereof, for each day from and including the date such Advance is made or is converted from a LIBOR Advance or a Cost of Funds Advance into an Alternate Base Rate Advance pursuant to Section 2.9 to but excluding the date it becomes due or is converted into a LIBOR Advance or a Cost of Funds Advance pursuant to Section 2.9, at a rate per annum equal to the Alternate Base Rate for such day.
Interest accrued on each Cost of Funds Advance shall be payable on (i) each Payment Date, commencing with the first such date to occur after the date hereof, (ii) any date on which such Cost of Funds Advance is prepaid, whether by acceleration or otherwise, and (iii) the Facility Termination Date or any earlier date upon which the Aggregate Commitment is terminated in accordance with the terms of this Agreement.