Rate Increase Event definition

Rate Increase Event shall have the meaning assigned to such term in Section 7.01 of the Loan Agreement.
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Rate Increase Event has the meaning set forth in Section 7.01 hereof.
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Rate Increase Event contained in Section 1.1 of the Loan Agreement is hereby deleted in its entirety.
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Examples of Rate Increase Event in a sentence

  • Any sum due to the Bank and not paid when due and any sum due to the Bank upon the occurrence or during the continuance of any Rate Increase Event hereunder shall bear interest at the Rate Increase Event Rate.

  • No delay or omission of the Bank to exercise any right or power accruing upon any Rate Increase Event shall exhaust or impair any such right or power or shall be construed to be a waiver of any such event, or acquiescence therein; and every power and remedy given by this Agreement may be exercised from time to time and as often as may be deemed expedient.

  • In the event the Senior Pledged Revenue and Senior Pledged Collateral are insufficient or are anticipated to be insufficient to pay the principal of and interest on the 2016 Senior Loan when due, the Authority shall use commercially reasonable efforts to refinance, refund, or otherwise restructure the 2016 Senior Loan so as to avoid a Rate Increase Event.

  • Upon the occurrence of a Rate Increase Event, the Bank may at any time (a) Setoff (as defined below) any Senior Pledged Revenue or Senior Pledged Collateral; and/or (b) take such other steps to protect or preserve the Bank’s interest in the Senior Pledged Revenue and the Senior Pledged Collateral.

  • Immediately upon the occurrence of a Rate Increase Event, interest shall immediately begin to accrue on all principal amounts and any past due interest amounts on the 2016 Senior Loan at the Rate Increase Event Rate for so long as such Rate Increase Event continues and remains uncured.

  • On the Maturity Date (or prior to the Maturity Date if a Rate Increase Event has occurred and is continuing beyond any applicable grace period), the Custodian shall transfer amounts from the Senior Reserve Fund and upon transfer of such amounts from the Custodian, the Bank shall apply such amounts to the payment of all Senior Payment Obligations then due and owing the basis provided in Section 4 of the Custodial Agreement.

  • Interest not paid when due shall compound on each Interest Payment Date at the rate of interest then borne by the 2016 Senior Loan (which, it is acknowledged, upon the occurrence of a Rate Increase Event, shall be the Rate Increase Event Rate).

  • Upon the occurrence of any Rate Increase Event, the 2016 Senior Loan shall bear interest at the Rate Increase Event Rate, subject to the limitations of Section 2.02(l).

  • The Employer shall comply with all provisions of the Pension Trust Indenture and shall maintain, furnish and make available for audit at Employer’s office such data and records as the Trustees may require as provided in the Pension Trust Indenture.

  • If the Authority fails to pay any required Prepayment Fee when due, the amount of such Prepayment Fee shall thereafter bear interest until paid at the Rate Increase Event Rate.

Related to Rate Increase Event

  • Leverage Increase Period has the meaning specified in Section 7.11(a).

  • Available Increase Amount means, as of any date of determination, an amount equal to the result of (a) $50,000,000, minus (b) the aggregate principal amount of Increases to the Revolver Commitments previously made pursuant to Section 2.14 of this Agreement.

  • Commitment Increase Effective Date has the meaning set forth in Section 2.02(b).

  • Increase Date has the meaning specified in Section 2.18(a).

  • Increase Amount is defined in Section 2.3(a).

  • Commitment Increase Date has the meaning assigned to such term in Section 2.08(e).

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Increase Effective Date has the meaning specified in Section 2.14(d).

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Overcollateralization Increase Amount With respect to any Distribution Date, the lesser of (a) the Overcollateralization Deficiency Amount as of such Distribution Date and (b) the Net Monthly Excess Cashflow for such Distribution Date.

  • Term Loan Increase has the meaning set forth in Section 2.14(a).

  • Incremental Term Loan Maturity Date means the final maturity date of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Adjustment Date As to each Adjustable Rate Mortgage Loan, each date on which the related Mortgage Rate is subject to adjustment, as provided in the related Mortgage Note.

  • CPI Increase means the percentage increase in CPI over the preceding Lease Year as calculated by the fraction whose numerator is (a) the most current CPI available on the date of calculation minus (b) the most current CPI available on the first day of the immediately preceding Lease Year in question (the “Base CPI”), and whose denominator is the Base CPI, but in no event shall the “CPI Increase” be less than zero.

  • Revolving Facility Termination Date means the earlier of (i) August 9, 2018, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.

  • Commitment Increase Notice as defined in Section 2.1(b).

  • Replacement Revolving Facility Effective Date shall have the meaning assigned to such term in Section 2.21(l).

  • Reduction Date has the meaning set forth in Section 20.1B.

  • Maximum Yield Supplement Amount means with respect to any Collection Period and the related Deposit Date, after giving effect to the Yield Supplement Amount, the maximum amount required to be on deposit in the Yield Supplement Account on the immediately succeeding Payment Date, which is equal to the present value (using an interest rate of: 0.25%) of the sum of all Yield Supplement Amounts for all future Payment Dates, assuming that future Scheduled Payments on the Discount Receivables are made on the date on which they are scheduled as being due.

  • Aggregate Revolving Committed Amount means the aggregate amount of Commitments in effect from time to time, being initially One Hundred Fifty Million Dollars ($150,000,000) (as such amount may be increased as provided in Section 2.5 or reduced as provided in Section 2.9 from time to time).

  • Available Incremental Amount has the meaning set forth in Section 2.14(d)(v).

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Fixed Incremental Amount has the meaning specified in the definition of “Permitted Incremental Amount.”

  • Activation Date means the date on which the Service and User Account (hereinafter defined) are activated for the Customer by TM as more particularly described in Clause 3.2 hereunder.

  • Adjustment Period means the period from the Effective Date up to and including the Expiry Time;

  • Aggregate Revolving Commitment Amount means the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate Revolving Commitment Amount is $300,000,000.