Examples of Floating Rate Components in a sentence
Prior to or contemporaneously with the Closing Date, Borrower shall have obtained, and thereafter maintain in effect, the Interest Rate Cap Agreement, which shall have a term expiring no earlier than the last day of the Interest Period in which the Stated Maturity Date occurs and have a notional amount which shall not at any time be less than the aggregate Component Outstanding Principal Balances of the Floating Rate Components.
If such notice is given, the Floating Rate Components of the Loan shall be converted, from and after the first day of the next succeeding Interest Period, to a Prime Rate Loan bearing interest based on the Prime Rate in effect on the related Determination Date.
Subject to the terms and conditions of this Section 2.2.3, the Floating Rate Components of the Loan shall be a LIBOR Loan.
In the event that, and for so long as, any Event of Default shall have occurred and be continuing, the Component Outstanding Principal Balance of each of the Floating Rate Components and, to the extent not prohibited by applicable law, all other portions of the Debt, shall accrue interest at the Default Rate, calculated from the date such payment was due or, if later, such Default shall have occurred, without regard to any grace or cure periods contained herein.
Xx the event that, and for so long as, any Event of Default shall have occurred and be continuing, the Component Outstanding Principal Balance of each of the Floating Rate Components and, to the extent not prohibited by applicable law, all other portions of the Debt , shall accrue interest at the Default Rate, calculated from the date such payment was due or, if later, such Default shall have occurred, without regard to any grace or cure periods contained herein.
In the event that, and for so long as, any Event of Default shall have occurred and be continuing, the Component Outstanding Principal Balance of each of the Floating Rate Components and, to the extent not prohibited by applicable law, all other portions of the Debt , shall accrue interest at the Default Rate, calculated from the date such payment was due or, if later, such Default shall have occurred, without regard to any grace or cure periods contained herein.
If such notice is given, the Floating Rate Components Loan shall be converted, from and after the first day of the next succeeding Interest Period, to a Prime Rate Loan bearing interest based on the Prime Rate in effect on the related Determination Date.
In the event that, and for so long as, any Event of Default shall have occurred and be continuing, the Component Outstanding Principal Balances of the Floating Rate Components and, to the extent not prohibited by law, all other portions of the Debt (other than any principal or interest on Component G) shall accrue interest at the Default Rate, calculated from the date such payment was due or, if later, such Event of Default occurred.
The interest rate of the related mezzanine loan (the “Stonemont Net Lease Portfolio Mezzanine Loan”), as shown in the applicable Secondary Financing Document(s),weighted by the original principal balances of the Stonemont Subordinate Fixed Rate Components, Stonemont Subordinate Floating Rate Components and Stonemont Net Lease Portfolio Mezzanine Loan.