Examples of Term Loan Base Rate in a sentence
Except as provided in Section 2.6(c), the outstanding principal amount of the Term Loan shall bear interest at the per annum rate equal to the Base Rate plus the Term Loan Base Rate Margin.
Base Rate Option shall mean the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in either Section 4.1.1(i) [Revolving Credit Base Rate Option] or Section 4.1.2(i) [Term Loan Base Rate Options], as applicable.
The definition of “Base Rate Option” set forth in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety as follows: Base Rate Option shall mean the option of the Borrowers to have Loans bear interest at the rate and under the terms set forth in eitherSection 4.1.1(i) [Revolving Credit Base Rate Option] or Section 4.1.4(i) [Term Loan Base Rate Option], as applicable.
The rate at which the loans under the Amended Term Loan Credit Agreement bear interest is equal to, at Term Loan Borrower’s election (i) the Term Loan LIBOR Rate plus 2.75% per annum or (ii) the Term Loan Base Rate plus 1.75% per annum.
If the Borrowers fail to select a new Interest Period to apply to any Borrowing Tranche of Loans under the Euro- Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with the provisions of Section 4.2 [Interest Periods], the Borrowers shall be deemed to have converted such Borrowing Tranche to the Revolving Credit Base Rate Option or Term Loan Base Rate Option, as applicable, commencing upon the last day of the existing Interest Period.
Each Term Loan Request shall be (a) for a Term Loan Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Term Loan LIBOR Rate Loan in a minimum aggregate amount of$1,000,000.00 or an integral multiple of $1,000,000.00 in excess thereof.
Base Rate Option shall mean the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in either Section 4.1.1(i) [Revolving Credit Base Rate Options] or Section 4.1.2(i) [Term Loan Base Rate Options], as applicable.
The First Amendment reduces each of the Term Loan LIBOR Loan Spread and the Term Loan Base Rate Loan Spread by 150 to 175 basis points (depending on the original Credit Agreement Consolidated Leverage Ratio step) to 3.00% and 2.00%, respectively.
Except as provided in Section 2.6(c), the outstanding principal amount of the Term Loan shall bear interest at the per annum rate equal to the Base Rate plus the Term Loan Base Rate Margin 15 2.7 Crediting Payments 17 2.8 Designated Account 17 2.9 Maintenance of Loan Account; Statements of Obligations 17 2.10 Fees 17 2.11 Letters of Credit 18 2.12 LIBOR Index Rate Loans 22 2.13 Capital Requirements 23 2.14 [Reserved] 24 2.15 Joint and Several Liability of Borrowers 24 3.
Base Rate Option shall mean the option of the Borrowers to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1.1(i) [Term Loan Base Rate Option].