Examples of Established Rate in a sentence
Notwithstanding the foregoing, if at any time the Established Rate exceeds the Highest Lawful Rate, the rate of interest on this Note shall be limited to the Highest Lawful Rate, but any subsequent reductions in the Established Rate shall not reduce the rate of interest hereon below the Highest Lawful Rate until the total amount of interest accrued hereon approximately equals the amount of interest which would have accrued hereon if the Established Rate had at all times been in effect.
If at any time and from time to time the Established Rate exceeds the Maximum Rate, thereby causing the interest payable to be limited to the Maximum Rate, then any subsequent reduction in the Established Rate shall not reduce the rate of interest hereunder below the Maximum Rate until the total amount of interest accrued hereon equals the amount of interest that would have accrued if the Established Rate had at all times been in effect.
Each change in the rate of interest charged under this Term Promissory Note (this “Note”) shall, subject to the terms hereof, become effective, without notice to Borrower, upon the effective date of each change in the Established Rate or the Highest Lawful Rate, as the case may be.
All Gestation Advances shall be maintained, at the election of the Company made from time to time as permitted herein, as Federal Funds Rate Loans and/or Established Rate Loans.
All Regular Advances shall be maintained, at the election of the Company made from time to time as permitted herein, as Federal Funds Rate Loans, Eurodollar Rate Loans and/or Established Rate Loans or any combination thereof.