Swing Loan Interest Rate definition

Swing Loan Interest Rate means as to each Swing Loan the rate of interest quoted by PNC Bank applicable thereto and accepted by the Borrower with respect to such Swing Loan.
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Swing Loan Interest Rate. Subject to Section 4.3 [Interest After Default], the Swing Loans shall bear interest, as agreed by the Swing Loan Lender and the Borrower, (i) at the Base Rate Option applicable to Revolving Credit Loans, (ii) at a fluctuating rate per annum (computed on the basis of a year of 360 days and actual days elapsed) equal to Daily Simple SOFR plus the SOFR Adjustment plus the Applicable Margin or (iii) if applicable, at the applicable rate set forth in any Cash Management Agreement.
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Swing Loan Interest Rate. Swing Loan Offered Amount" and "Swing Loan Requested Amount" in alphabetical order: Champion Development shall mean Champion Development Corporation, a Michigan corporation, which at all times since its formation:
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Examples of Swing Loan Interest Rate in a sentence

  • Each Swing Loan shall bear interest at the interest rate applicable thereto in accordance with Section 4.1.1(c) [Swing Loan Interest Rate].

Related to Swing Loan Interest Rate

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Swing Loan Note means the Swing Loan Note of the Borrower in the form of Exhibit 1.1(N)(2) evidencing the Swing Loans, together with all amendments, extensions, renewals, replacements, refinancings or refundings thereof in whole or in part.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

  • Maximum Revolving Advance Amount means $30,000,000.

  • Swing Loan has the meaning specified therefor in Section 2.3(b) of the Agreement.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Swing Loan Lender means PNC, in its capacity as lender of the Swing Loans.

  • Swing Line Advance has the meaning ascribed to it in Section 1.1(c)(i).

  • Revolving Loan Agreement means that certain Revolving Credit and Security Agreement, dated as of the Closing Date, by and among Revolving Agent, the Credit Parties party thereto, the lenders from time to time party thereto, as amended, restated, supplemented and/or modified to the extent permitted by the terms of the Intercreditor Agreement. ​

  • Swing Loan Commitment means PNC Bank’s commitment to make Swing Loans to the Borrower pursuant to Section 2.1.2 hereof in an aggregate principal amount up to $10,000,000.