Fluctuating Rate Loans definition

Fluctuating Rate Loans means Loans hereunder that bear interest at a rate of interest based upon the Prime Rate.

Fluctuating Rate Loans means any Loan bearing interest based on ---------------------- the Prime Rate.

Fluctuating Rate Loans means Loans hereunder that bear interest at a rate of interest based upon the Prime Rate plus the applicable margin, if indicated.

Examples of Fluctuating Rate Loans in a sentence

• The Term Loan may be outstanding as either Fixed Rate Loans or Fluctuating Rate Loans.

• If Borrower shall not have given notice in accordance with Section 2.1(d) of its election to refinance the Tranche prior to the end of the LIBOR Interest Period in effect for such Tranche, then Borrower shall (unless such Tranche is repaid at the end of such LIBOR Interest Period) be deemed to have given notice to Lender of an election to refinance such Tranche with a Fluctuating Rate Loan and shall thereafter be subject to all provisions of this Agreement governing Fluctuating Rate Loans.

• Revolving Credit Loans may be Fluctuating Rate Loans or LIBOR Loans, as further provided herein.

• Revolving Credit Loans may be outstanding as either Fixed Rate Loans or Fluctuating Rate Loans.

• Such payment shall be applied to reduce the aggregate unpaid principal balance of the Revolving Credit Loans then outstanding by first applying such payment to reduce Fluctuating Rate Loans and then to reduce LIBOR Loans.

• As ever, we have worked hard with all the key partners to raise awareness of safeguarding issues.

• Post Default Rate" shall mean at any time a rate of interest equal to 3% per annum in excess of the rate that would then be applicable to Fluctuating Rate Loans.

• Borrower may from time to time elect to designate all or any portion of the outstanding Loans (whether Fluctuating Rate Loans or existing LIBOR Loans) as a "Tranche" which after such election shall consist of one or more outstanding Loans with an identical LIBOR Fixed Rate and LIBOR Interest Period.

• Such payment shall be applied to reduce the aggregate unpaid principal balance of Facility A Revolving Credit Loans then outstanding by first applying such payment to reduce Fluctuating Rate Loans and then to reduce LIBOR Loans.

• In the event Lender shall exercise its rights under clause (i) or (ii) immediately preceding, all payments and prepayments of principal which would otherwise have been applied to repay the LIBOR Loans shall instead be applied to repay the Fluctuating Rate Loans resulting from the conversion of such LIBOR Loans and shall be prepayable only at the times the converted LIBOR Loans would have been prepayable, notwithstanding the provisions of Section 2.1(k).

More Definitions of Fluctuating Rate Loans

Fluctuating Rate Loans means Loans hereunder that bear interest at a rate of interest based upon the Prime Rate. "GAAP" shall mean generally accepted accounting principles applied in a manner consistent with that employed in the preparation of the financial statements described in Section 3.1. "General Security Agreement" shall have the meaning assigned thereto in Section 4.1(b) and any UCC-1 financing statements executed in connection therewith. "Governmental Authority" shall mean any nation or government, any state or other political subdivision thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, and any corporation or other entity owned or controlled (through stock or capital ownership or otherwise) by any of the foregoing. "Guarantees" shall mean the guarantees to be executed by the Guarantors on the Bank's standard form. "Guarantors" shall mean, collectively, the entities required to guarantee pursuant to Section 5.9 hereof. "Indebtedness" shall mean, with respect to any Person, (a) all obligations of such Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (c) all obligations of such Person for the deferred purchase price of property or services, except current accounts payable arising in the ordinary course of business and not overdue beyond such period as is commercially reasonable for such Person's business, (d) all obligations of such Person conditional sale or other title retention agreements relating to property purchased by such Person, (e) all payment obligations of such Person with respect to interest rate of currency protection agreements, (f) all obligations of such Persons as an account party under any letter of credit or in respect of bankers' acceptances (g) all obligations of any third party secured by property or assets of such Person (regardless of whether or not such Person is liable for repayment of such obligations) and (h) the redemption price of all redeemable preferred stock of such Person, but only to the extent that such stock is redeemable at the option of the holder or requires sinking fund or similar payments at any time prior to the Termination Date. "Installment Payment Date" shall mean any date on which all or any portion of the principal amount of the Term Loan is due and payable. "Interest Period" shall mean any period during whic...

Fluctuating Rate Loans means Loans hereunder that bear interest at a rate of interest based upon the Prime Rate. "GAAP" shall mean generally accepted accounting principles applied in a manner consistent with that employed in the preparation of the financial statements described in Section 3.