Examples of Tranche Rate in a sentence
Notwithstanding any other provisions hereof, if any Law shall make it unlawful for Lender to make, fund or maintain Tranche Rate Loans or Daily Simple SOFR Rate Loans, Lender shall promptly give notice of such circumstances to Borrower.
Any prepayment of a Tranche Rate Loan on a day other than the last day of an Interest Period therefor shall include interest on the principal amount being repaid and shall be subject to Section 2.5(c).
Subject to the provisions of Section 9.2, Borrower may request that Revolving Credit Advances permitted to be made hereunder be Tranche Rate Loans or Daily Simple SOFR Rate Loan and that outstanding portions of Advances made hereunder be converted to Tranche Rate Loans or Daily Simple SOFR Rate Loans.
All prepayments of an Advance shall be applied first to that portion of such Advance comprised of Base Rate Loans and then to that portion of such Advance comprised of Tranche Rate Loans, in direct order of Interest Period maturities.
If any Event of Default has occurred and is continuing, such amounts shall be applied as provided in Section 9.3. All prepayments made pursuant to Section 2.2(b) must be accompanied by payment of any Tranche Rate funding breakage costs in accordance with Section 2.5(c).