Designated Rate definition

Designated Rate means the rate of interest per annum described in the Supplement as being applicable to an outstanding Loan from time to time.

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Designated Rate. With respect to Collateral Group 1, 5.50% per annum. With respect to Collateral Group 2, 6.00% per annum. With respect to Collateral Group 3, 7.50% per annum. With respect to Collateral Group 4, 5.50% per annum. With respect to Collateral Group 5, 6.00% per annum. With respect to Collateral Group 6, 6.50% per annum.

Designated Rate. Not applicable.

Examples of Designated Rate in a sentence

• 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.

• Commencing on the first day of the second full month after the Borrowing Date (which day shall be understood and agreed to be the date on which the second payment of the Interest-only Period is due) and continuing on the first day of each month during the Interest-only Period thereafter, Borrower shall pay to Agent interest only at the Designated Rate, in advance, on the outstanding principal balance of the Loan evidenced by such Note for the ensuing month.

• Principal of, and interest on, each Growth Capital Loan shall be payable as follows: principal shall be fully amortized over the Amortization Period in equal, monthly installments plus, in each case, unpaid interest thereon at the Designated Rate, commencing after the Interest-only Period has ended.

• Commencing on the first day of the first full month after the end of the Interest-only Period, and continuing on the first day of each consecutive calendar month thereafter, ▇▇▇▇▇▇▇▇ shall pay to Agent equal consecutive monthly principal installments in advance in an amount sufficient to fully amortize the Loan evidenced by such Note over the Amortization Period, plus interest at the Designated Rate for such month.

More Definitions of Designated Rate

Designated Rate. With respect to Pool 2, 9.00% per annum, and with respect to Pool 3, 7.00%.

Designated Rate means, for each Growth Capital Loan, a variable rate of interest per annum equal to the sum of (i) the greater of (A) the Prime Rate and (B) three and one-quarters percent (3.25%), plus (ii) eight percent (8.00%). Changes to the Designated Rate based on changes to the Prime Rate shall be effective as of the next scheduled interest payment date immediately following such change.

Designated Rate. The Designated Rate for each Loan shall be a fixed rate of interest per annum equal to the Prime Rate as published on the Business Day on which Lender prepares the Note for such Loan, plus six and three-quarters of one percent (6.75%); provided, however, that in no event shall the Designated Rate for a Loan be less than ten percent (10.00%).

Designated Rate. With respect to Pool 1, Pool 2 and Pool 4, 5.50%; with respect to Pool 5, 6.00%; with respect to Pool 6, 5.00%; and with respect to Pool 3, not applicable.

Designated Rate. With respect to Collateral Group 1, 6.00%. With respect to Collateral Group 2, 7.50%. With respect to Collateral Group 3, 5.00%. With respect to Collateral Group 4, 6.00%. With respect to Collateral Group 5, 6.50%. With respect to each of Collateral Group P1 and P2, 0.00%.

Designated Rate means a fixed rate of interest per annum equal to eleven and one-half of one percent (11.50%).

Designated Rate means ten percent (10%).