Rate Increase Event definition

Rate Increase Event has the meaning set forth in Section 7.01 hereof.
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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 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

  • 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).

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

Related to Rate Increase Event

  • Available Increase Amount means, as of any date of determination, an amount equal to the result of (a) $15,000,000, minus (b) the aggregate principal amount of Increases to the Revolver Commitments previously made pursuant to Section 2.14 of this Agreement.

  • 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).

  • 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.

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

  • Aggregate Revolving Committed Amount has the meaning provided in Section 2.01(a).

  • Activation Date means the date upon which MLBFS shall cause the WCMA Line of Credit to be fully activated under MLPF&S' computer system as part of the WCMA Program.

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

  • Rate Calculation Date means the day which is two Rate Calculation Business Days before the due date of the relevant amount under these Conditions;