Examples of Floating Base Rate in a sentence
The unpaid principal of each Floating Base Advance shall bear interest from the date of advance until paid at a rate per annum which shall from day to day, be equal to the lesser of: (a) the Floating Base Rate or (b) the Maximum Rate.
Each change in the rate charged hereunder shall, subject to the foregoing, become effective, without notice to Maker, upon the effective date of each change in the Floating Base Rate or the Highest Lawful Rate, as the case may be.
The unpaid principal balance from day to day outstanding hereunder shall bear interest at a rate per annum which shall from day to day be equal to the lesser of (a) the Floating Base Rate, as hereinafter defined (the "Contract Rate;" calculated on the basis of actual days elapsed, but computed as if each calendar year consisted of 360 days), or (b) the Highest Lawful Rate.
The unpaid principal of each Floating Base --------------------- Advance shall bear interest from the date of advance until paid at a rate per annum which shall from day to day be equal to the lesser of (a) the Maximum Rate or (b) the sum of the Floating Base Rate in effect from day to day plus the Applicable Margin.
The loan matures in July 2012, calls for monthly principal payments of $2,300 ($2,780 Canadian dollars) and bears interest at the Bank’s Floating Base Rate plus 3% per annum (9% and 11.25% at October 31, 2008 and 2007, respectively).