Floating Rate Loan definition

Floating Rate Loan means a Loan which bears interest at the Floating Rate.

Floating Rate Loan means a Loan which, except as otherwise provided in Section 2.14, bears interest at the Floating Rate plus the Applicable Margin.

Floating Rate Loan. A Loan that is an Eligible Loan where the interest rate payable by the Obligor thereof is based on the Company Prime Rate or the Company LIBOR Rate, plus some specified interest percentage in addition thereto, and the Loan provides that such interest rate will reset immediately upon any change in the related Company Prime Rate or Company LIBOR Rate.

Examples of Floating Rate Loan in a sentence

• Changes in the rate of interest on that portion of any Advance maintained as a Floating Rate Loan will take effect simultaneously with each change in the Alternate Base Rate.

• Interest accrued on each Floating Rate Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, upon any prepayment whether by acceleration or otherwise, and at maturity (whether by acceleration or otherwise).

• Interest accrued on each Floating Rate Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at maturity (whether by acceleration or otherwise).

• Interest accrued on each Floating Rate Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof and at maturity (whether by acceleration or otherwise).

• If, during any Interest Period, the Interest Make-Up Agreement in effect with any Lender is terminated for any reason (other than as a result of the negligence or willful misconduct of such Lender), then the portion of the Loan held by such Lender shall convert to a Floating Rate Loan on the last day of such Interest Period, and the Borrower shall pay interest on such portion of the Loan at the Floating Rate on such portion for the remainder of the term of the Loan.

More Definitions of Floating Rate Loan

Floating Rate Loan means a Loan which bears interest at the Alternate Base Rate.

Floating Rate Loan or “Floating Rate Advance” means a Loan which bears interest at the Floating Rate.

Floating Rate Loan. All or any portion of any Term Loan which bears interest at a rate calculated with reference to the Prime Rate.

Floating Rate Loan means any Collateral Loan that bears a floating rate of interest.

Floating Rate Loan means a Syndicated Global Loan, or portion thereof, which bears interest at the Alternate Base Rate or any other floating rate, as applicable, plus the Floating Rate Margin (if any).

Floating Rate Loan a Base Rate Loan or a Canadian Prime Rate Loan.

Floating Rate Loan means a Syndicated Loan denominated in Dollars which bears interest at the Floating Rate.