Revolving Rate definition

Revolving Rate has the meaning set forth in Section 2.5.

Revolving Rate means the per annum rate of interest equal to one-half of one percent (0.50%) below the Prime Rate in effect from time to time until maturity of the Revolving Note, and two percent (2.00%) above the Prime Rate in effect from time to time after maturity of the Revolving Note, whether by demand, acceleration or otherwise. Each time the Prime Rate shall change, the Revolving Rate shall change concurrently with such change in the Prime Rate.

Revolving Rate means a variable per annum rate of interest determined as follows: (i) if the Consolidated Tangible Net Worth of the Borrowers is greater than $62,000,000, then the Revolving Rate shall be equal to the Prime Rate minus one-half percent (.5%); (ii) if the Consolidated Tangible Net Worth of the Borrowers is greater than $56,500,000 but less than or equal to $62,000,000, then the Revolving Rate shall be equal to the Prime Rate; (iii) if the Consolidated Tangible Net Worth of the Borrowers is greater $38,000,000 but less than or equal to $56,500,000, then the Revolving Rate shall be equal to the Prime Rate plus three-quarters percent (0.75%); and (iv) if the Consolidated Tangible Net Worth of the Borrowers is equal to or less than $38,000,000, then the Revolving Rate shall be equal to the Prime Rate plus one and one-quarter percent (1.25%). The Revolving Rate will change to reflect any change in the Prime Rate, as and when the Prime Rate changes.

Examples of Revolving Rate in a sentence

• At Lender's option and to the extent permitted by applicable Law and this Agreement, all past due Obligations shall bear interest from maturity (whether at stated maturity, by acceleration or otherwise) at the Revolving Rate then in effect plus three percent (3.0%) ("Default Rate") (provided, however, the Default Rate shall never exceed the Maximum Rate) until paid, regardless of whether such payment is made before or after entry of a judgment.

• Requests for Revolving Rate LIBOR Loans, and for Interest Periods subsequent to the initial Interest Period applicable thereto, shall be made not less than two (2) Business Days prior to the first day of each Interest Period for each such Loan.

• Such notice shall indicate the Applicable Term Rate or Applicable Revolving Rate (or other applicable interest rate margins) for such new Term Loan Commitments or Revolving Commitments, as applicable.

• At Lender's option and to the extent permitted by applicable Law and this Agreement, all past due Obligations shall bear interest from maturity (whether at stated maturity, by acceleration or otherwise) at the Revolving Rate then in effect plus two percent (2%) ("Default Rate") (PROVIDED, HOWEVER, the Default Rate shall never exceed the Maximum Rate) until paid, regardless of whether such payment is made before or after entry of a judgment.

• On December 4, 2003, the Company commenced a legal action against prior counsel in respect of, among other things, their representation of the Company in a lawsuit, the outcome of which was unfavourable to the Company.

More Definitions of Revolving Rate

Revolving Rate means the rate defined in Section 2.5(A) of the Agreement.

Revolving Rate means the sum of: (i) With respect to any such portion of the Loan which is at the time subject to an effective Eurodollar Pricing Option, the sum of 1 3/8% PLUS the Eurodollar Rate; (ii) With respect to any such portion of the Loan which is at the time subject to an effective CD Pricing Option, the sum of 1 1/2% PLUS the CD Rate; and (iii) With respect to any other such portion of the Loan, the Base Rate; PLUS (b) the GAIC Net Loss Margin, if any.

Revolving Rate means, until maturity of the Revolving Note: (a) so long as the sum of (A) and (B) below exceeds $77,000,000, the per annum rate of interest equal to one-half of one percent (0.50%) below the Prime Rate in effect from time to time; and (b) at any time when the sum of (A) and (B) is equal to or less than $77,000,000, the per annum rate of interest equal to the Prime Rate in effect from time to time, and, after maturity of the Revolving Note, two percent (2.00%) above the Prime Rate in effect from time to time after maturity of the Revolving Note, whether by demand, acceleration or otherwise:

Revolving Rate shall be amended to mean the per annum rate of interest equal to the Prime Rate in effect from time to time, as adjusted as follows: (i) until maturity of the Revolving Note the Prime Rate shall be reduced by one-half of one percent (0.50%), and (ii) after maturity of the Revolving Note, whether by demand, acceleration or otherwise, the Prime Rate shall be increased by two percent (2.00%).

Revolving Rate means, until maturity of the Revolving Note: (a) so long as the sum of (A) and (B) below exceeds $77,000,000, the per annum rate of interest equal to one-half of one percent (0.50%) below the Prime Rate in effect from time to time; (b) at any time when the sum of (A) and (B) below is equal to or less than $77,000,000 but greater than $65,000,000, the per annum rate of interest equal to the Prime Rate in effect from time to time; and (c) at any time when the sum of (A) and (B) below is equal to or less than $65,000,000, the per annum rate of interest equal to one-quarter of one percent (0.25%) above the Prime Rate in effect from time to time, and, after maturity of the Revolving Note, two percent (2.00%) above the Prime Rate in effect from time to time after maturity of the Revolving Note, whether by demand, acceleration or otherwise:

Revolving Rate means the Base Rate (in effect from day-to-day) minus 0.75%, from the date hereof through November 30, 2000 and, after November 30, 2000, means the per annum rate of interest (expressed as a percentage) redetermined in accordance with Section 2.6.

Revolving Rate means a variable per annum rate of interest determined as follows: