Interest Rate Election Period definition

Interest Rate Election Period means the time period selected by the Borrower during which interest is to accrue on an Advance at the LIBOR Rate. An Interest Rate Election Period shall be a term of one month, three months or four months (or, if this Note is dated on other than the first day of a month, for the first Interest Rate Election Period only, the time period between the date of this Note and the last day of the month in which this Note is dated, inclusive). In no event shall any Interest Rate Election Period extend beyond the Maturity Date of the Loan.
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Interest Rate Election Period means the time period during which interest is to accrue on the principal balance hereof at the LIBOR Rate. An Interest Rate Election Period shall be a term of one month (or, if this Note is dated on other than the first day of a month, for the first Interest Rate Election Period only, the time period between the date of this Note and the last day of the month in which this Note is dated, inclusive). In no event shall any Interest Rate Election Period extend beyond the Maturity Date of the Loan.
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Examples of Interest Rate Election Period in a sentence

  • Prior to the end of each Interest Rate Election Period, if the amount of the Advance remaining unpaid will not be repaid, Borrower shall provide an Election Notice designating the Interest Rate Borrower has elected and if the LIBOR Rate has been elected, designating a new Interest Rate Election Period.

  • Once chosen, the Loan Portion and the Interest Rate Election shall remain in effect until the expiration of the Interest Rate Election Period.

  • Borrower may obtain an Advance by delivering an Election Notice signed by any one of the Authorized Individuals on the Schedule of Authorized Individuals attached hereto as Exhibit "B" setting forth the amount of the Advance requested [which shall be at least $250,000.00 if available] and indicating an Interest Rate and, if the Advance is a LIBOR Advance, an Interest Rate Election Period (which must terminate no later than the Maturity Date) for such LIBOR Advance.

  • If the LIBOR Rate is elected, it shall remain constant for the Interest Rate Election Period.

  • If Borrower has elected that the LIBOR Rate apply to any Advance, the LIBOR Rate shall be calculated based on LIBOR for the LIBOR Period coinciding with Interest Rate Election Period selected by Borrower.

  • If Borrower has elected the LIBOR Rate, said Interest Rate as determined in accordance with the terms of this Note at the beginning of the Interest Rate Election Period shall remain in effect until expiration of the Interest Rate Election Period chosen by the Borrower for that LIBOR Advance.

  • As of the end of the Reporting Period, the Bank’s inclusive small and micro enterprise loan balance (with the credit granted to a single customer less than RMB10 million (inclusive)) was RMB29.396 billion, up RMB5.885 billion or 25.03% from the end of the previous year, and up 17.57 percentage points from the growth rate of the Bank’s various loans (excluding discounts).

  • If KeyBank does not receive the Election Notice prior to the expiration of any Interest Rate Election Period, and the Advance is not repaid, interest shall accrue on that Advance at the Variable Rate until an Election Notice is delivered.

  • P&D Pharmaceuticals Limited is a distribution business offering a suite of third-party medicinal cannabis products via pharmacy channels with Europe, and qualifies as a business as defined in IFRS 3.

  • Prior to the end of a selected Interest Rate Election Period, the Borrower shall deliver to the Bank a new Election Notice designating the new Interest Rate Election Period and the Interest Rate Election to apply to the Loan Portion during such Interest Rate Election Period.

Related to Interest Rate Election Period

  • Notice of Interest Rate Election has the meaning set forth in Section 2.10.

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Other Benchmark Rate Election means, with respect to any Loan denominated in Dollars, if the then-current Benchmark is the LIBO Rate, the occurrence of:

  • Interest Calculation Period means the period or periods for the calculation of the interest shown on the mortgage form;

  • Subsequent Rate Period means, with respect to any Series of RVMTP Shares, the period consisting of seven calendar days, but adjusted in each case to reflect any changes when the regular calendar day that is a Rate Determination Date is not a Business Day, from, and including, the first calendar day following the Initial Rate Period of such Series to, and including, the next Rate Determination Date for such Series and any period thereafter from, and including, the first calendar day following a Rate Determination Date for shares of such Series to, and including, the next succeeding Rate Determination Date for shares of such Series.

  • Quarterly Floating Rate Period means, for the initial Quarterly Floating Rate Period, the period commencing on September 20, 2018 and ending on and including December 19, 2018, and thereafter the period from and including the day immediately following the end of the immediately preceding Quarterly Floating Rate Period to but excluding the next succeeding Quarterly Commencement Date.

  • Interest Rate Determination Date means, with respect to any Interest Period, the date that is two Business Days prior to the first day of such Interest Period.

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on July 1, 2020 and ending on and including June 30, 2025 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including June 30 in the fifth year thereafter.

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Election Period means the period immediately preceding the beginning of each Plan Year established by the Administrator, such period to be applied on a uniform and nondiscriminatory basis for all Employees and Participants. However, an Employee's initial Election Period shall be determined pursuant to Section 5.1.

  • LIBOR Interest Determination Date means the second LIBOR Business Day preceding each LIBOR Rate Reset Date.

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • Subsequent Interest Period has the meaning specified in Section 307.

  • Special Rate Period with respect to the VRDP Shares, has the meaning specified in paragraph (a) of Section 4 of Part I of the Articles Supplementary.

  • Election Date has the meaning specified in Section 312(h).

  • Interest Rate Change Date The date on which the Mortgage Interest Rate is subject to change as provided in the related Mortgage Note.

  • Subsequent Reset Rate of Interest means, in respect of any Subsequent Reset Period, the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the relevant Mid-Swap Rate and the relevant Subsequent Margin.

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • Reset Interest Period means each period from (and including) any Reset Date and ending on (but excluding) the next Reset Date.

  • LIBOR Interest Period means, as to any advance to which the LIBOR Option applies, the period of one (1), two (2), three (3) or six (6) months as selected by the Borrower in its notice of borrowing or notice of conversion, as the case may be, commencing on the date of disbursement of an advance (or the date of conversion of an advance to the LIBOR Option, as the case may be) and each successive period selected by the Borrower thereafter; provided that, (i) if a LIBOR Interest Period would end on a day which is not a Business Day, it shall end on the next succeeding Business Day unless such day falls in the next succeeding calendar month in which case the LIBOR Interest Period shall end on the next preceding Business Day, (ii) the Borrower may not select a LIBOR Interest Period that would end on a day after the Expiration Date, and (iii) any LIBOR Interest Period that begins on the last Business Day of a calendar month (or a day for which there is no numerically corresponding day in the last calendar month of such LIBOR Interest Period) shall end on the last Business Day of the last calendar month of such LIBOR Interest Period.

  • Interest Rate Cap means a Cap.

  • Applicable Interest Period for each Credit Facility has the meaning specified for that Credit Facility in the Credit Facility Schedule; provided, however, that, at any time that the Applicable Prime Rate is the Applicable Index Rate, Applicable Interest Period shall mean the period commencing as of the most recent Applicable Interest Rate Determination Date and continuing until the next Applicable Interest Rate Determination Date or such earlier date as the Applicable Prime Rate shall no longer be the Applicable Index Rate; and provided, further, that, at any time the Libor Rate Index is adjusted as set forth in the definition thereof, or re-implemented following invocation of the Applicable Prime Rate as permitted herein, the Applicable Interest Period shall mean the period commencing as of such adjustment or re-implementation and continuing until the next Applicable Interest Rate Determination Date, if any.

  • Fixed Rate Calculation Date means, for any Subsequent Fixed Rate Period, the 30th day prior to the first day of such Subsequent Fixed Rate Period.