Elected Rate definition

Elected Rate means the rate of interest with respect to a Loan as selected by the Borrower, or as may apply as a result of a conversion, in either case pursuant to ARTICLE IV hereof.
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Elected Rate means the Elected Rate as set forth in the definition of the Conversion Option. The Elected Rate shall be applied to the entire outstanding principal balance and the Elected Rate shall be the same Elected Rate for each of the notes executed and delivered pursuant to the Loan Agreement.
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Elected Rate shall be added as follows:
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Examples of Elected Rate in a sentence

  • Borrower may convert the Elected Rate pursuant to a valid Notice of Election.

  • Upon timely receipt of an Interest Rate Election Notice, the Agent shall promptly notify the Borrower and the Lenders of the applicable Elected Rate for the Interest Periods selected in such Interest Rate Election Notice; provided, however, that the failure by the Agent to provide any such notice shall not, in any way, affect or diminish the Borrower's obligations to any Lender, or any Lender's rights under this Agreement, the Notes or any of the other Credit Documents.

  • The Elected Rate options shall include, and are limited to, the Prime Rate and LIBOR, as defined herein.

  • The Company shall have the option, not later than three (3) business days prior to the end of each calendar month, to elect, in writing, the applicable rate of interest to be applied in SECTION 2.7( B) below (the "Elected Rate").

  • Unless notified by the Company otherwise, the Bank shall apply the previous month's Elected Rate to the current calendar month's outstanding principal balance of the Notes.

  • The Elected Rate for any Advance shall be either: (i) a fixed rate per annum for the Interest Period equal to the 90-day LIBOR Rate plus the LIBOR Rate Margin, or (ii) a variable rate per annum equal to the Base Rate plus the Base Rate Margin.

  • Interest on Advances hereunder shall accrue at the rate elected by Maker for each such Advance (the "Elected Rate") at the time Maker request such Advance in accordance with the procedures set forth in the Credit Agreement.

  • At all times the Elected Rate shall be the same Elected Rate for each of the Notes executed and delivered pursuant to this Agreement.

  • The Company shall elect the method of paying interest on an Interest Payment Date by delivering a notice (“Interest Election Notice”) to the Holders on or prior to the beginning of any interest payment period identifying the Elected Rate.


More Definitions of Elected Rate

Elected Rate means, for any resulting tranche of borrowing, a rate equal to either (a) the Selected LIBOR plus 2.50% for all principal balance outstanding up to and including 35% of the Commitment Limit, (b) the Selected LIBOR plus 2.75% for all principal balance outstanding above 35% of the Commitment Limit and up to and including 70% of the Commitment Limit; (c) the Selected LIBOR plus 3% for all principal balance outstanding above 70% of the Commitment Limit; or (d) the Prime Rate. For all amounts outstanding prior to the Amendment #2 to Loan Agreement dated on or about October 18, 2012, the Elected Rate shall be the Prime Rate.
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Elected Rate means the rate at which interest accrues for any interest payment period in accordance with Section 3.02(a) and as set forth in the Interest Election Notice.
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Elected Rate means the interest rate for an Advance elected by Borrower hereunder, which shall be either a floating rate equal to the Base Rate plus the Base Rate Margin or a fixed rate for the Interest Period equal to the 90-day LIBOR Rate plus the LIBOR Rate Margin.
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Related to Elected Rate

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

  • Stated Rate has the meaning set forth in Section 2.7.

  • Quoted Rate means the rate of interest per annum offered by the Swing Line Bank in its sole discretion with respect to a Swing Line Advance.

  • Blended Rate means, with respect to any Taxable Year, the sum of the effective rates of tax imposed on the aggregate net income of the Corporate Taxpayer in each state or local jurisdiction in which the Corporate Taxpayer files Tax Returns for such Taxable Year, with the maximum effective rate in any state or local jurisdiction being equal to the product of: (i) the apportionment factor on the income or franchise Tax Return filed by the Corporate Taxpayer in such jurisdiction for such Taxable Year, and (ii) the maximum applicable corporate tax rate in effect in such jurisdiction in such Taxable Year. As an illustration of the calculation of Blended Rate for a Taxable Year, if the Corporate Taxpayer solely files Tax Returns in State 1 and State 2 in a Taxable Year, the maximum applicable corporate tax rates in effect in such states in such Taxable Year are 6% and 5%, respectively and the apportionment factors for such states in such Taxable Year are 60% and 40%, respectively, then the Blended Rate for such Taxable Year is equal to 5.6% (i.e., 6% times 60% plus 5% times 40%).

  • LIBOR-Based Rate means, with respect to each Interest Period, the per annum interest rate equal to the London Interbank Offered Rate which appears on Telerate Page 3750 at approximately 11:00 a.m. (London time) two LIBOR Business Days prior to the first day of such Interest Period for deposits of United States dollars for a period of time comparable to the Interest Period, and in an amount comparable to the principal amount of the Loan, plus 0.35%.

  • Increased Rate means, with respect to any Increased Rate Period for a Series of RVMTP Shares, the Index Rate for such Increased Rate Period plus an Applicable Spread of 5.92%.

  • Floating Rate Interest Period means each period commencing on the date of the Closing and, thereafter, commencing on a Floating Rate Interest Payment Date and continuing up to, but not including, the next Floating Rate Interest Payment Date.

  • Negotiated Rate with respect to each Swing Line Loan, the rate per annum agreed to in writing by the Borrower and the Swing Line Lender as the interest rate which such Swing Line Loan shall bear.

  • Yield Rate means, (i) with respect to any Eligible Treasury Security on deposit at any time in either of the Paired Holding Trusts, the stated interest rate of such Eligible Treasury, if any, or any discount rate applicable to such Eligible Treasury, based on the purchase date and purchase price at which the applicable Paired Holding Trust acquired that Eligible Treasury, and (ii) with respect to any Eligible Treasury Repurchase Agreement, the difference between the repurchase price and the purchase price paid under such agreement, with such difference expressed as a percentage of such purchase price.

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • Required Rate means (a) 5.50%, with respect to the Cutoff Date and any Distribution Date on or prior to the date on which the Class A-2-B Notes are paid in full, or, (b) 5.00%, with respect to any Distribution Date after the Class A-2-B Notes are paid in full, or, in each case, such other percentage approved by the Rating Agencies.

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • EURIBOR Rate has the meaning specified in the definition of “Eurocurrency Rate”.

  • Impacted Interest Period has the meaning assigned to such term in the definition of “LIBO Rate”.

  • LIBOR Interest Period means, with respect to a LIBOR Advance, a period of one, two, three or six months (to the extent that periods in excess of three months are generally available from the Lenders), as selected in advance by the Borrower.

  • LIBOR Period means, with respect to any LIBOR Loan, each period commencing on a LIBOR Business Day selected by Borrower pursuant to the Agreement and ending one, two or three months thereafter, as selected by Borrower's irrevocable notice to Agent as set forth in Section 1.5(e); provided, that the foregoing provision relating to LIBOR Periods is subject to the following:

  • Applicable LIBOR Rate means, (a) for Auction Periods of 35 days or less, One-Month LIBOR, (b) for Auction Periods of more than 35 days but less than 91 days, Three-Month LIBOR, (c) for Auction Periods of more than 90 days but less than 181 days, Six-Month LIBOR, and (d) for Auction Periods of more than 180 days, One-Year LIBOR.

  • Prescribed Rate means the rate of 4% above The Royal Bank of Scotland plc base rate from time to time in force.

  • Interest Period Date means each Interest Payment Date unless otherwise specified hereon.

  • Base Interest Rate means Bank's initial cost of funding the Fixed Obligations. The Prepayment Fee is calculated as follows: First, Bank determines a "Current Market Rate" based on what the Bank would receive if it loaned the remaining amount on the prepayment date in a wholesale funding market matching maturity, remaining principal and interest amounts and principal and interest payment dates (the aggregate payments received are the "Current Market Rate Amount"). Bank may select any wholesale funding market rate as the Current Market Rate. Second, Bank will take the prepayment amount and calculate the present value of each remaining principal and interest payment which, without prepayment, the Bank would have received during the term of the Fixed Obligations using the Base Interest Rate. The sum of the present value calculations is the "Xxxx to Market Amount." Third, the Bank will subtract the Current Market Rate Amount from the Xxxx to Market Amount. Any amount greater than zero is the Prepayment Fee.

  • SOFR-Based Rate means SOFR or Term SOFR.

  • Funding Rate means any individual rate notified by a Lender to the Facility Agent pursuant to sub-paragraph (ii) of paragraph (a) of Clause 10.3 (Cost of funds).

  • Specified Rate means, on any day, the sum of:

  • Interest Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Payment Date and each successive period beginning on (and including) an Interest Payment Date and ending on (but excluding) the next succeeding Interest Payment Date.

  • LIBOR Rate means a rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%) determined by the Administrative Agent pursuant to the following formula: LIBOR Rate = LIBOR

  • Repo Rate on any day means the highest interest rate available to a Lender from investment in overnight repurchase agreements.