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.
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.
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 the aggregate amount of Revolving Credit Advances exceeds the Formula Amount for ten (10) or more days in any during the Term, the average daily balance of Revolving Credit Advances in that month shall bear interest at the 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 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 one (1%) percent in excess of the Revolving Advance Rate.

Overadvance Rate for each month shall mean an interest rate per annum which is one percent (1%) in excess of the Borrowing Rate in effect during such month.

Overadvance Rate means an interest rate per annum equal to the Alternate Base Rate plus one percent (1%).