Index Loan definition
Examples of Index Loan in a sentence
Base Margin Loans requested by the Lead Borrower, other than those resulting from the conversion of an Index Loan, shall not be less than $10,000.00.
During such periods as the Swing Loans shall bear interest at the LIBOR Index Rate, each such LIBOR Index Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Index Rate plus the Applicable Percentage.
Upon receipt of such notice, Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of a LIBOR Index Loan or, failing that, will be deemed to have submitted a request for a Base Rate Loan.
Any Loan or any portion thereof as to which the Borrower has not duly specified an interest rate as provided herein shall be deemed a LIBOR Market Index Loan.
Base Margin Loans requested by the Lead Borrower, other than those resulting from the conversion of a Index Loan, shall not be less than $10,000.00.
Upon receipt of such notice, Borrower Agent may revoke any pending request for a Borrowing of a LIBOR Index Loan or, failing that, will be deemed to have submitted a request for a Base Rate Loan.
Any continuation or conversion of the Advance into a LIBOR Loan or an Index Loan must be for the entire amount of the Advance.
Upon receipt of such notice, Borrower Agent may revoke any pending request for a Borrowing of a Term SOFR Index Loan or, failing that, will be deemed to have submitted a request for a Base Rate Loan.
No Interest Period selection is required for any LIBOR Index Loan.
During such periods as the Swing Loans shall bear interest at the Adjusted LIBOR Index Rate, each such LIBOR Index Loan shall bear interest at a per annum rate equal to the sum of the Adjusted LIBOR Index Rate plus the Applicable Percentage for LIBOR Index Loans.