Line of Credit Interest Rate definition

Line of Credit Interest Rate means an annual rate equal to the lesser of (a) the maximum contract rate of interest permitted to be charged under applicable law or (b) the Base Rate plus one-half percentage point (1/2%), computed on the basis of a 360-day year, actual number of days elapsed, adjusted daily as the Base Rate changes.
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Line of Credit Interest Rate. One-month LIBOR + 1.85% per annum, reset monthly two eurodollar business days prior to each payment date. The Line of Credit Interest Rate is inclusive of Capital America's servicing and administrative expenses associated with the Facility.
Sample 1
Line of Credit Interest Rate means an annual rate equal to the lesser of (a) the maximum contract rate of interest permitted to be charged under applicable law or (b) the interest rate from time to time designated by Lender as its "Index Rate" plus one percentage point (1%), computed on the basis of a 360-day year, actual number of days elapsed, adjusted daily as the Index Rate changes; provided, however, such rate shall be reduced to the Index Rate plus one-half percentage point (1/2%) so long as no Event of Default exists hereunder and Borrower's debt-to-tangible net worth (as defined in Section 6.3 of this Agreement) is not greater than 1.5 to 1.0 as of December 31, 1997. Any adjustment in the Line of Credit Interest Rate shall be effective as of December 31, 1997, based upon Lender's satisfactory review of Borrower's audited financial statements for the year ending December 31, 1997. If, at any time thereafter, Borrower fails to maintain a debt-to-worth ratio of not greater than 1.5 to 1.0, the Line of Credit Interest Rate shall revert to the Index Rate plus one percentage point (1%) for the remainder of the term of the Line of Credit, effective as of the month-end for which Borrower fails to maintain such compliance.
Sample 1

Examples of Line of Credit Interest Rate in a sentence

  • Any changes in the Regular Line of Credit Interest Rate resulting from a change in the Prime Rate shall take effect without notice at the time the Prime Rate is set.

  • At the end of any Line of Credit Applicable Interest Period, the interest rate will revert to the Regular Line of Credit Interest Rate, unless Borrower has designated another Optional Line of Credit Interest Rate for that Line of Credit LIBO Rate Portion.

  • Borrower shall pay interest monthly in arrears on the outstanding balance under the Line of Credit commencing on June 1, 2011, and then on the first Banking Day of each month thereafter, except that interest accruing at the Optional Line of Credit Interest Rate shall be due at the end of the applicable Interest Rate Period.

  • Interest on advances on the Line of Credit shall accrue at the Prime Rate plus one quarter percent (P+0.25%) per annum in effect from time to time (the "Regular Line of Credit Interest Rate").

  • Amounts outstanding under the Loan shall bear interest at the Line of Credit Interest Rate.

  • Borrower shall pay interest monthly in arrears on the outstanding balance under the Line of Credit commencing on September 1, 2005, and then on the first Banking Day of each month thereafter, except that interest accruing at the Optional Line of Credit Interest Rate shall be due at the end of the applicable Interest Rate Period.

  • Instead of the Regular Line of Credit Interest Rate, Borrower may elect to have up to five (5) advances on the outstanding principal balance of the Line of Credit (each a "Line of Credit LIBO Rate Portion") during the Line of Credit Availability Period bear interest at the LIBO Rate, as defined below, plus two and three-quarters percent (L+2.75%) (the "Optional Line of Credit Interest Rate") during an interest rate period designated by Borrower (the "Line of Credit Applicable Interest Period").

  • Each such advance will accrue interest from the date of the advance or the date on which the account is overdrawn, whichever occurs first, at the Regular Line of Credit Interest Rate.

  • Borrower shall pay interest monthly in arrears on the outstanding balance under the Line of Credit commencing on January 1, 2014, and then on the first Banking Day of each month thereafter, except that interest accruing at the Optional Line of Credit Interest Rate shall be due at the end of the applicable Interest Rate Period.

  • Interest on advances on the Line of ---------------------------- Credit shall accrue at Prime Rate minus one-half percentage point (P - 0.50%) per annum in effect from time to time (the "Regular Line of Credit Interest Rate").


More Definitions of Line of Credit Interest Rate

Line of Credit Interest Rate means an annual rate equal to the lesser of (a) the maximum contract rate of interest permitted to be charged under applicable law or (b) the interest rate from time to time designated by Lender as its "Index Rate" plus two percentage points (2%), computed on the basis of a 360-day year, actual number of days elapsed, adjusted daily as the Index Rate changes; provided, however, such rate shall be reduced to (a) the Index Rate plus one and three-quarters percentage points (1 3/4%) so long as no Event of Default exists hereunder and Borrower's tangible net worth (as defined in Section 6.2 of this Agreement) is not less than $2,750,000 as of September 30, 1996, and (b) the Index Rate plus one and one-half percentage points (1 1/2%) so long as no Event of Default exists and Borrower's tangible net worth (as defined in Section 6.2 of this Agreement) is not less than $3,000,000 as of December 31, 1996. Adjustments in the Line of Credit Interest Rate shall be effective as of September 30, 1996, or December 31, 1996, as applicable, based upon Lender's satisfactory review of Borrower's financial statements for the applicable period (with adjustments to be made, if necessary, based upon Borrower's audited financial statements, effective December 31, 1996).
Sample 1
Line of Credit Interest Rate. LIBOR PLUS 2.50% per annum.
Sample 1
Line of Credit Interest Rate means a rate per annum equal to the greater of (i) the Floating Rate and (ii) four and one-half percent (4.5%).
Sample 1
Line of Credit Interest Rate means a rate per annum equal to the Floating Rate.
Sample 1

Related to Line of Credit Interest Rate

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) 9.25% plus the prime rate as reported in The Wall Street Journal minus 3.50% and (ii) 9.25%.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Revolving Line is an Advance or Advances in an amount equal to Ten Million Dollars ($10,000,000).

  • Revolving Advances means Advances made other than Letters of Credit.

  • Swingline Rate means the Base Rate plus the Applicable Margin applicable to Base Rate Loans.

  • Committed Revolving Line means a credit extension of up to Five Million Dollars ($5,000,000).

  • Loan Interest Rate means, as to any Loan, the annual rate of interest specified in the Loan.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Revolving Credit Advances means advances of principal on the Revolving Credit Loan by the Bank under the terms of this Loan Agreement to the Borrower during the term of the Revolving Credit Loan pursuant to Section 3.1.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Revolving Advance has the meaning given in Section 2.1.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

  • Loan Rate for any Mortgage Loan and on any day means the per annum rate of interest applicable under the related Credit Line Agreement to the calculation of interest for the day on the Asset Balance of the Mortgage Loan.

  • Revolving Credit Loan has the meaning specified in Section 2.01(b).

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.