Examples of Cost of Funds Advance in a sentence
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.
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.
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.
If the Borrower does not notify the Swing Line Lender of its acceptance of such Cost of Funds Advance prior to 12:00 noon (Atlanta time) on the date of such requested Advance, the Borrower will be deemed to have rejected the same.
Each notice, in the case of a LIBOR Advance or Cost of Funds Advance, shall specify the duration of the Interest Period therefor.