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.
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.
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.
The interest rate on out- standing borrowings at February 3, 2002 was 4.75% on the Revolving Rate Loan and 3.25% on the LI- BOR Rate Loan payable monthly.
We are entitled to provide partial deliveries to a reasonable extent.
Unless waived by the Agent in accordance with Section 10.06(b) of the Credit Agreement, this Assignment and Assumption shall be delivered to the Agent with a processing and recordation fee of $3,500.
The interest rate on outstanding borrowings at January 30, 2000 was 8.5% on the Revolving Rate Loan payable monthly.
More Definitions of Revolving Rate
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, 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 means a rate per annum which shall from day to day be equal to the lesser of (a) the Prime Rate plus one percent (1.00%) and (b) the Maximum Rate, if any Maximum Rate exists and is applicable; PROVIDED that, during any period in which the Revolving Credit Obligations exceed Thirty Six Million Five Hundred Thousand Dollars ($36,500,000), that portion of the Revolving Credit Obligations in excess of Thirty Six Million Five Hundred Thousand Dollars ($36,500,000) shall be deemed to be Revolving Loans, and the "Revolving Rate" therefor shall mean a rate per annum which shall from day to day be equal to the lesser of (a) the Prime Rate plus four percent (4.00%) and (b) the Maximum Rate, if any Maximum Rate exists and is applicable.
Revolving Rate is defined in Section 2.4(A) of this Agreement.
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 the sum of: