Term Note Rate definition
Examples of Term Note Rate in a sentence
The unpaid principal amount of the Advances shall bear interest prior to maturity at a varying rate per annum equal from day to day to the lesser of (a) the Maximum Rate, or (b) as the case may be, the Applicable Revolving Credit Note Rate or Applicable Term Note Rate.
The Contract Rate shall be calculated on the last business day of each calendar month hereafter (other than for increases or decreases in the Prime Secured Convertible Term Note Rate which shall be calculated and become effective in accordance with the terms of Section 1.1) until the Maturity Date and shall be subject to adjustment as set forth herein.
The Term Note will bear interest on the unpaid principal balance accrued from each date of disbursement at the Term Note Rate calculated on the basis of the actual days elapsed based on a per diem charge computed over a year composed of three hundred sixty (360) days.
All computations of interest calculated with respect to the Farm Credit One-Year Discount Note Rate, the Farm Credit Medium Term Note Rate, or at the Base Rate shall be made by Lender on the basis of a three hundred sixty five (365) day year, in each case for the actual 84 number of days occurring in the period for which such interest is payable.
If the Event of Default is cured during the applicable cure period, if any, interest will begin to accrue at the Term Note Rate or Revolving Note Rate, as applicable, commencing on the date the Event of Default is cured.