Interest Rate Type definition

Interest Rate Type means, with respect to any Loan, the interest rate, being either the Base Rate or the LIBO Rate forming the basis upon which interest is charged against such Loan hereunder.

Interest Rate Type when used in respect of any Loan or Borrowing, shall refer to the rate by reference to which interest on such Loan or on the Loans comprising such Borrowing is determined.

Interest Rate Type shall have the meaning given to such term in Section 2.5 hereof.

Examples of Interest Rate Type in a sentence

• Interest in respect of any Loan hereunder shall accrue from and including the date of such Loan to, but excluding, the date on which such Loan is paid or refinanced with a Loan of a different Interest Rate Type.

• If no election as to the Interest Rate Type of a Revolving Credit Borrowing is specified in any such notice, then the requested Revolving Credit Borrowing shall be an ABR Borrowing.

• For purposes of the calculation required by the immediately preceding sentence, LIBOR Revolving Credit Loans having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Loans and all Loans of a single Interest Rate Type made on a single date shall be considered a single Loan if such Loans have a common Interest Period.

• See the Schedule of Interest Rate Type Provisions for additional provisions, if any, specific to the Interest Rate Type.

• Interest shall accrue as provided in the Schedule of Interest Rate Type Provisions and shall be computed in accordance with the Interest Accrual Method.

More Definitions of Interest Rate Type

Interest Rate Type when used in respect of any Loan or Borrowing, shall refer to the Rate by reference to which interest on such Loan or on the Loans comprising such Borrowing is determined. For purposes hereof, "Rate" shall include LIBOR, the Alternate Base Rate and the Fixed Rate.

Interest Rate Type means either the Base Rate of interest or the Offshore Rate of interest charged against any Loan or Loans hereunder.

Interest Rate Type has the meaning set forth in the Summary of Loan Terms.

Interest Rate Type means either Base Rate Loans or Eurodollar Rate Loans, as appropriate.

Interest Rate Type means, with respect to any Loan, its characterization as a Base Rate Loan, a Daily Floating Eurodollar Loan or a Fixed Period Eurodollar Loan.

Interest Rate Type shall be as defined in Section 2.2(a).

Interest Rate Type has the meaning set forth in the applicable Schedule of Advance Terms.