Term Loan Default Rate definition

Term Loan Default Rate has the meaning ascribed thereto in Section 6.1; "Term Loan Drawdown Date" each date, which is a Banking Day not later than August 15, 1996, upon which the Borrower has requested that a Term Loan Advance be made available to the Borrower as provided in Section 3.2;
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Term Loan Default Rate has the meaning ascribed thereto in Section 6.1;
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Term Loan Default Rate is defined in Section 2.1.2(d) hereof
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Examples of Term Loan Default Rate in a sentence

  • If a 2016 Term Loan Advance is accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of: (i) all outstanding principal plus accrued and unpaid interest, (ii) the 2016 Prepayment Premium, (iii) the 2016 Final Payment, plus (iv) all other sums, if any, that shall have become due and payable hereunder, including interest at the 2016 Term Loan Default Rate with respect to any past due amounts.

  • Any principal payment with respect to the Term Loan not paid when due, whether on a Term Loan Payment Date or by acceleration, shall bear interest thereafter at a rate per annum of two percent (2.0%) over the Term Loan Applicable Rate in effect with respect to such payment at the time of such default (the "Term Loan Default Rate").

  • Upon and after the occurrence of an Event of Default, the Third Term Loan shall bear interest on its principal amount outstanding from time to time at a rate per annum (the "Third Term Loan Default Rate") equal to four percent (4%) per annum over the Bank's Prime Rate, which shall be adjusted daily when and as the Bank's Prime Rate changes.

  • Upon and after the occurrence of an Event of Default, the Fourth Term Loan shall bear interest on its principal amount outstanding from time to time at a rate per annum (the "Fourth Term Loan Default Rate") equal to four percent (4%) per annum over the Bank's Prime Rate, which shall be adjusted daily when and as the Bank's Prime Rate changes.

  • The Term Loan Default Rate shall commence on the day following any event of default and shall continue until such event of default has been cured to the satisfaction of Bank.

  • If at any time, the sum of the Dollar Amount of the aggregate outstanding principal amount of Advances plus LOC Obligations shall exceed 103% of the Aggregate Commitment, the Borrowers immediately shall prepay outstanding Advances and (after all Advances have been repaid) cash collateralize LOC Obligations, in an amount sufficient to eliminate such excess.

  • Upon and after the occurrence of an Event of Default, the Second Term Loan shall bear interest on its principal amount outstanding from time to time at a rate per annum (the "Second Term Loan Default Rate") equal to eleven and three-quarters percent (11.75%) per annum.

  • Upon and after the occurrence of an Event of Default, the Fourth Term Loan shall bear interest on its principal amount outstanding from time to time at a rate per annum (the "Fourth Term Loan Default Rate") equal to five percent (5%) per annum over the Bank's Prime Rate, which shall be adjusted daily when and as the Bank's Prime Rate changes.

  • Upon and after the occurrence of an Event of Default, the First Term Loan shall bear interest on its principal amount outstanding from time to time at a rate per annum (the "First Term Loan Default Rate") equal to eleven and one-quarter percent (11.25%) per annum.

  • All such sums shall become additional indebtedness owing to Bank, shall bear interest at the Equipment Term Loan Default Rate, and shall be secured by all Collateral.

Related to Term Loan Default Rate

  • Non-default Rate means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant amount.

  • Post-Default Rate means, (a) in respect of any principal of any Loan or any Reimbursement Obligation, the rate otherwise applicable plus an additional two percent (2.0%) per annum, and (b) with respect to any other Obligation, a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Base Rate Loans plus two percent (2.0%).

  • Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.

  • Default Rate means an interest rate equal to (a) the Base Rate plus (b) the Applicable Rate, if any, applicable to Base Rate Loans plus (c) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, in each case to the fullest extent permitted by applicable Laws.

  • 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.

  • Note Default Interest Spread means a rate per annum equal to three percent (3.0%); provided, however, that if the weighted average of the Senior Note Default Rate and the Note B Default Rate would exceed the maximum rate permitted by applicable law, the note default interest spread shall equal (i) the rate at which the weighted average of the Senior Note Default Rate and the Note B Default Rate equals the maximum rate permitted by applicable law minus (ii) the Mortgage Loan Rate.

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) 9.25% plus the prime rate as reported in The Wall Street Journal minus 3.50% and (ii) 9.25%.

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Default Rate of Interest means the rate of interest otherwise payable on the principal of the Securities plus 1% per annum.

  • Maximum Loan Rate With respect to each Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Loan Rate thereunder.

  • Default Rate Interest is defined in Section 3.1(b)(ix) of this Agreement.

  • Default Interest Period means for any overdue amount of the Withdrawn Loan Balance, each Interest Period during which such overdue amount remains unpaid; provided, however, that the first such Default Interest Period shall commence on the 31st day following the date on which such amount becomes overdue, and the final such Default Interest Period shall end on the date at which such amount is fully paid.”

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Loan Rate for any Mortgage Loan and on any day means the per annum rate of interest applicable under the related Credit Line Agreement to the calculation of interest for the day on the Asset Balance of the Mortgage Loan.

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

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • Term Loan A Maturity Date means the earliest of (a) May 24, 2012, or (b) such earlier date upon which the Outstanding Amounts under the Term Loan Facility, including all accrued and unpaid interest, are required to be paid in full in accordance with the terms hereof.

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Default Loan shall have the meaning provided in Section 5.2(b)(1).

  • Net Loan Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the then applicable Loan Rate for such Mortgage Loan minus the related Servicing Fee Rate and the Master Servicing Fee Rate.

  • Debt Rate means, with respect to (i) any Series of Equipment Notes, the rate per annum specified for such Series under the heading “Interest Rate” in Schedule I to the Trust Indenture (as amended, in the case of any Additional Series, at the time of original issuance of such Additional Series), and (ii) any other purpose, with respect to any period, the weighted average interest rate per annum during such period borne by the outstanding Equipment Notes, excluding any interest payable at the Payment Due Rate.

  • Term Loan B Maturity Date means the earliest of (a) May 24, 2014, or (b) such earlier date upon which the Outstanding Amounts under the Term Loan Facility, including all accrued and unpaid interest, are required to be paid in full in accordance with the terms hereof.

  • 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 Obligations means any Obligations with respect to the Term Loan (including, without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Term Loan as defined in Section 2.1.

  • Default Repayment Date means the settlement date set out by the Bond Trustee in a Default Notice requesting early redemption of the Bonds.