Examples of Line of Credit Rate in a sentence
Interest shall be calculated by applying a daily rate, which is the Line of Credit Rate divided by 360, to the actual ending daily balance of Borrower's account for each day of the billing cycle.
All Advances shall bear interest payable monthly, at a rate per annum equal to the Line of Credit Rate.
In the event that Borrower fails to pay any sums due pursuant to this Rider, Borrower shall be liable to pay a late charge for any payment due to Lender in the sum of five percent of payment due or $5.00, whichever is greater, Additionally, in the event Borrower fails to pay any sum due pursuant to this Rider, the Advance Rate and/or the Uncollected Funds Line of Credit Rate shall be increased by an additional 5%.
Swingline Loans shall bear interest at a rate per annum equal to the CFC Line of Credit Rate.
The interest rate on all Advances will be equal to the CFC Line of Credit Rate in effect from time to time, provided, that any CFC Line of Credit Rate adjustment shall only be effective on a date that is the first or sixteenth day of any month, and any such adjustment shall remain in effect until any subsequent change in the CFC Line of Credit Rate occurs.
The total principal balance shall bear interest until completely paid at a rate equal to the Line of Credit Rate.
At the first anniversary date and upon any subsequent renewal, Lender, in its sole discretion, may change the Line of Credit Rate and/or the Line of Credit Amount.
Each Swingline Loan shall bear interest at a rate per annum equal to (i) the CFC Line of Credit Rate (if CFC is the Swingline Lender at such time), (ii) the Base Rate, or (iii) the Adjusted SOFR Market Index Rate, as selected by ODEC in its request for such Swingline Loan, plus, in each case, the Applicable Margin.
All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Adjusted Term SOFR) and Swing Line Loans determined by reference to the CFC Line of Credit Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed.
The disbursed and unpaid principal balances of the Indebtedness secured hereby shall bear interest prior to repayment at a variable rate per annum (“Operating Line of Credit Rate ”) which shall, from day to day, be equal to the lesser of (a) the maximum effective variable contract rate of interest (“Maximum Rate”) which Credit Union may from time to time lawfully charge, or (b) a rate equal to Prime +.50%.