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 selected by the Borrower during which interest is to accrue, with reference to the LIBOR Rate, on a Revolver Portion or the Term Loan. An Interest Rate Election Period applicable to a Revolver Portion or Term Loan shall be for a duration, as designated by the Borrower, of either seven (7) days, or a one (1), two (2), or three (3) month period of time.
Sample 1
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 30, 60 or 90 days (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.
Sample 1

Examples of Interest Rate Election Period in a sentence

  • 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.

  • 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.

  • 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.

  • In no event shall any Interest Rate Election Period extend beyond the Maturity Date of this Loan.

  • 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.

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

  • An Interest Rate Election Period during which interest is to accrue at the Cost of Funds Fixed Rate shall be for a term of two (2) years.

  • Any Interest Rate Election Period must terminate on August 31, November 30, February 28 or February 29 as the case may be, or May 31.

Related to Interest Rate Election Period

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

  • Interest Rate Period means that period of time for which the interest rate with respect to the Bonds has been determined by the Remarketing Agent or otherwise as provided in the definition of the applicable Interest Rate Mode, commencing on the applicable Interest Rate Adjustment Date, and terminating on the day immediately preceding the following Interest Rate Adjustment Date, if any.

  • 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 the period from and including a Quarterly Commencement Date 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 (2) 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 April 1, 2022 and ending on and including March 31, 2027 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 March 31 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 each period commencing on the date of the Closing and, thereafter, commencing on a Floating Rate Interest Payment Date and continuing up to, but not including, the next Floating Rate Interest Payment Date.

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

  • Election Date has the meaning specified in Section 3.12(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 and subject to Condition 4(b)(ii), 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, with respect to a LIBOR Advance, a period of one, two, three or six months (to the extent that periods in excess of three months are generally available from the Lenders), as selected in advance by the Borrower.

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • 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.

  • Interest Period Date means each Interest Payment Date unless otherwise specified hereon.

  • Initial Fixed Rate Period means the period commencing on the Issue Date and ending on and including June 30, 2020.