Rate Loan. A non-amortizing 6-month LIBOR based loan with principal of $250,000 is fully prepaid with 3 months remaining until next interest rate change date (repricing). An Initial Prepayment Reference Rate of 7.0% was assigned to the loan at last repricing. The Final Prepayment Reference Rate (as determined by the 3-month LIBOR index) is 6.5%. Rates therefore have dropped 0.5% since last repricing and a prepayment fee applies. A prepayment fee factor of 0.31 is determined from Table 3 below and the prepayment fee is computed as follows:
Rate Loan. Floating Rate Loan" means the portion of the outstanding principal balance of all Advances of the Credit Authorization that bear interest at the Floating Rate.
Rate Loan. Libor Rate Loan" means the portion of the outstanding principal balance of all Advances of the Credit Authorization that bear interest at the Libor Rate for a particular Libor Interest Period.
Examples of Rate Loan in a sentence
Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.
For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded.
Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.
Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 3.05.
Notwithstanding anything to the contrary herein, a Swing Line Loan may not be converted to a Eurodollar Rate Loan.
More Definitions of Rate Loan
Rate Loan means a Loan which bears interest at the Base Rate pursuant to the applicable Notice of Borrowing or Notice of Interest Rate Election or the provisions of Article 8. Benefit Arrangement means at any time an employee benefit plan within the meaning of Section 3(3) of ERISA which is not a Plan or a Multiemployer Plan and which is maintained or otherwise contributed to by any member of the ERISA Group. Board means the Board of Directors of the Borrower or a committee of directors lawfully exercising the relevant powers of the Board. Borrower means John Wilex & Soxx, Inc., a New York corporation, and its successors. Borrower's 1996 Form 10-K means the Borrower's annual report on Form 10-K for the fiscal year ended April 30, 1996, as filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934. Borrowing has the meaning set forth in Section 1.03. Capital Lease means any lease of property which, in accordance with GAAP, should be capitalized on the lessee's balance sheet; and Capital Lease Obligation means the amount of the liability which should be so capitalized. CD Base Rate has the meaning set forth in Section 2.05(b). CD Loan means (i) a Loan which bears interest at a CD Rate pursuant to the applicable Notice of Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue. CD Rate means a rate of interest determined pursuant to Section 2.05
Rate Loan any Loan that bears interest based on the Base Rate. Base Rate Revolver Loan: a Revolver Loan that bears interest based on the Base Rate. Board of Governors: the Board of Governors of the Federal Reserve System. Borrowed Money: with respect to any Obligor, without duplication, its (a) Debt that (i) arises from the lending of money by any Person to such Obligor, (ii) is evidenced by notes, drafts, bonds, debentures, credit documents or similar instruments, (iii) accrues interest or is a type upon which interest charges are customarily paid (excluding holdbacks, earnouts, accrued expenses and trade payables owing in the Ordinary Course of Business), or (iv) was issued or assumed as full or partial payment for Property (excluding holdbacks, earnouts, accrued expenses and trade payables incurred in the Ordinary Course of Business); (b) Capital Leases; (c) reimbursement obligations with respect to letters of credit; and (d) guaranties of any Debt of the foregoing types owing by another Person. Borrower Agent: as defined in Section 4.4. Borrower Materials: Borrowing Base information, reports, financial statements and other materials delivered by Borrowers hereunder, as well as other Reports and information provided to the Agent by other Persons pursuant to, or as contemplated by, the terms hereof, or by Agent to Lenders. Borrowers: as defined in the preamble to this Agreement, including any other Person who hereafter becomes a “Borrower” pursuant to Section 7.
Rate Loan means any Loan which bears interest at or by reference to the Base Rate. Base Rate Margin - see the definition of Applicable Margin. Business Day means any day on which LaSalle is open for commercial banking business in Chicago, Illinois and, in the case of a Business Day which relates to a LIBOR Loan, on which dealings are carried on in the London interbank eurodollar market. Canadian Entities means (i) CPI Corp., a Nova Scotia unlimited liability company, and (ii) CPI Portrait Studios of Canada Corp., a Nova Scotia unlimited liability company. Capital Expenditures means all expenditures which, in accordance with GAAP, would be required to be capitalized and shown on the consolidated balance sheet of the Company, including expenditures in respect of Capital Leases, but excluding expenditures made in connection with the replacement, substitution or restoration of assets to the extent financed (a) from insurance proceeds (or other similar recoveries) paid on account of the loss of or damage to the assets being replaced or restored or (b) with awards of compensation arising from the taking by eminent domain or condemnation of the assets being replaced. Capital Lease means, with respect to any Person, any lease of (or other agreement conveying the right to use) any real or personal property by such Person that, in conformity with GAAP, is accounted for as a capital lease on the balance sheet of such Person. Capitalized Rentals of any Person shall mean as of the date of any determination thereof, the amount at which the aggregate present value of future rentals due and to become due under all Capital Leases under which such Person is a lessee would be reflected as a liability on a consolidated or combined balance sheet of such Person in accordance with GAAP. Capital Securities means, with respect to any Person, all shares, interests, participations or other equivalents (however designated, whether voting or non-voting) of such Person’s capital, whether now outstanding or issued or acquired after the Closing Date, including common shares, preferred shares, membership interests in a limited liability company, limited or general partnership interests in a partnership, interests in a trust, interests in other unincorporated organizations or any other equivalent of such ownership interest. Cash Collateralize and Cash Collateral means to deliver cash collateral to the Administrative Agent, to be held as cash collateral for outstanding Letters of Credit, pursuant to ...
Rate Loan any Loan that bears interest based on the Base Rate. Base Rate Revolver Loan: a Revolver Loan that bears interest based on the Base Rate. Board of Governors: the Board of Governors of the Federal Reserve System. Borrowed Money: with respect to any Obligor, without duplication, its (a) Debt that (i) arises from the lending of money by any Person to such Obligor, (ii) is evidenced by notes, drafts, bonds, debentures, credit documents or similar instruments, (iii) accrues interest or is a type upon which interest charges are customarily paid (excluding holdbacks, earnouts, accrued expenses and trade payables owing in the Ordinary Course of Business), or (iv) was issued or assumed as full or partial payment for Property (excluding holdbacks, earnouts, accrued expenses and trade payables incurred in the Ordinary Course of Business); (b) Capital Leases; (c) reimbursement obligations with respect to letters of credit; and (d) guaranties of any Debt of the foregoing types owing by another Person. Borrower Agent: as defined in Section 4.4.
Rate Loan means a Loan that bears interest based on the Base Rate. Borrowing means a borrowing hereunder consisting of Revolving Loans of the same Type made to the Company on the same day by the Banks under Article II, and, in the case of LIBOR Rate Loans, having the same Interest Period. Borrowing Base Amount means, on any day, an amount equal to: (a) 80% of Qualified North American Accounts Receivable; plus (b) 50% of the lesser of cost or wholesale market value of Qualified Domestic Finished Goods and Raw Materials Inventory (provided that spare parts inventory included by the Company in its calculation of the Obsolescence Reserve and which constitute a portion of Qualified Domestic Finished Goods and Raw Materials Inventory shall be deemed to have a cost equal to 50% of the value attributed to it by the Company in calculating the Obsolescence Reserve; provided further that if the Company makes any material change in the manner in which it calculates the Obsolescence Reserve, the Agent shall, if so directed by the Majority Banks, reduce the percentage used to determine the deemed cost of such spare parts inventory (so as to cause such deemed cost to be, in the good faith evaluation of the Agent, approximately equal to the deemed cost which would have existed absent such change in the manner of calculating the Obsolescence Reserve) by written notice to the Company and such reduced percentage shall be immediately effective; and provided further that if an ABL Trigger Event has occurred and is continuing, the Agent may, in its discretion exercised in good faith through the application of appropriate criteria generally used by asset-based lenders in determining the property of a borrower eligible for inclusion in a borrowing base, reduce the percentage used to determine the deemed cost of such spare parts inventory by written notice to the Company and such reduced percentage shall be immediately effective); plus (c) the Qualified Domestic Work in Process Inventory Borrowing Base Amount; plus (d) the Machinery and Equipment Borrowing Base Amount; plus
Rate Loan. (each referred to as a "Substitute Base Rate Loans") on the last day(s) of the then current Interest Period(s) for Affected Loans (or, in the case of a conversion required by Section 2.20, on such earlier date as such Lender may specify to Company with a copy to the applicable Facility Agent and Global Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 2.18 or 2.20 that gave rise to such conversion no longer exist:
Rate Loan the applicable percentage set forth in subclause (i) below under the column entitled "Applicable Margin for LIBO Rate Loans", with respect to the unpaid principal amount of each Term B Loan maintained as a LIBO Rate Loan, the applicable percentage in subclause (ii) below under the column entitled "Applicable Margin for Term B LIBO Rate Loans" and with respect to the unpaid principal amount of each Term C Loan maintained as a LIBO Rate Loan, the applicable percentage in subclause (iii) below under the column entitled "Applicable Margin for Term C LIBO Rate Loans":