Overadvance Rate definition

Overadvance Rate means the rate which is three percent (3%) per annum in excess of the Effective Prime Rate.

Overadvance Rate means a per annum rate equal to one percent (1%) in excess of the applicable Revolving Interest Rate and the Letter of Credit Fees, as the case may be.

Overadvance Rate means a rate equal to one-half percent (1/2%) per annum in excess of the Contract Rate.

Examples of Overadvance Rate in a sentence

• In the event the aggregate amount of Revolving Credit Advances exceeds the Formula Amount for five (5) or more days in any month during the Term, the average daily balance of Revolving Credit Advances in that month shall bear interest at the Overadvance Rate.

• In the event that the aggregate outstanding amount of all Advances exceeds the lesser of the Maximum Loan Amount and the Formula Amount for three (3) or more Business Days in any month during the Term (such excess, an "Overadvance"), the average daily balance of all Advances and other amounts charged or chargeable to Borrowers' account for such month shall bear interest at the Overadvance Rate.

• The applicable Revolving Loan Rate, Authorized Overadvance Rate, Non-Revolving Loan Rate, and/or Bankers' Acceptance Fees, shall constitute rates on a per annum (ie.

• In the event that the aggregate outstanding amount of all Advances exceeds the lesser of the Maximum Loan Amount and the Formula Amount for five (5) or more days in any month during the Term (such excess, an "Overadvance"), the average daily balance of all Advances and other amounts charged or chargeable to Borrowers' account for such month shall bear interest at the Overadvance Rate.

• Except as set forth in Section 2.11(d) and (e), that portion of the outstanding principal balance of the Revolving Note not constituting Seasonal Inventory Overadvances shall bear interest at the Floating Rate and that portion of the outstanding principal balance of the Revolving Note constituting Seasonal Inventory Overadvances shall bear interest at the Seasonal Inventory Overadvance Rate.

More Definitions of Overadvance Rate

Overadvance Rate means a rate equal to one-half of one percent (1/2%) per annum in excess of the applicable contract rate of interest determined in accordance with Section 8, Paragraph 1(a) of this Agreement.

Overadvance Rate means, for Chase Bank Rate Loans, a rate of interest per annum equal to the sum of: (i) two percent (2%), (ii) the Chase Bank Rate, and (iii) the then Applicable Margin for Chase Bank Rate Loans, and for LIBOR Loans, a rate of interest equal to the sum of: (i) two percent (2%), (ii) the LIBOR Rate, and (iii) the then Applicable Margin for LIBOR Loans, which rate the Agent shall be entitled to charge the Borrowers on the Obligations pursuant to Section 8.1(b) of this Financing Agreement.

Overadvance Rate for each month shall mean an interest rate per annum which is one and one-half percent (1 1/2%) in excess of the average Alternate Base Rate in effect during such month.

Overadvance Rate means a rate equal to one-half of one percent (1/2%) per annum in excess of the applicable rate of interest otherwise determined in accordance with Section 8.1(b) of this Agreement. Overadvances has the meaning set forth in Section 8.1(b). P.O. Box means a locked postal box located in a United States post office, which relates to a Blocked Account, is subject to the control of a Blocked Account Bank, and is used by Obligors to remit payments of Receivables.

Overadvance Rate means an interest rate per annum equal to 3% in excess ---------------- of the Contract Rate.

Overadvance Rate. As set forth on the Advance Rate Grid.

Overadvance Rate means, with respect to any Overadvance Amount, an interest rate equal to 0.5% per annum plus the Applicable Margin for Current Assets Loans of the type of Loan for which such Overadvance Amount is maintained.