Variable Rate means a per annum rate of interest, equal to LIBOR plus 2.85%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

Variable Rate means, for any day, the higher of (a) the Federal Funds Rate for such day plus 1/4 of one percent and (b) the Prime Rate for such day.

Variable Rate shall have the respective meaning as it is defined for each facility under Section 2, hereof.

Examples of Variable Rate in a sentence

From the date hereof and for so long as the Warrants or the Notes remain outstanding, the Company shall be prohibited from effecting or entering into an agreement to effect any issuance by the Company or any of its Subsidiaries of shares of Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a Variable Rate Transaction.
In addition, the Company covenants and agrees that it will not enter into any agreement, undertaking or covenant with a third party that prohibits the Company or its Subsidiaries from entering into, effecting or announcing a Variable Rate Transaction or similar transaction with the Buyers or their Affiliates at any time.
So long as any Notes remain outstanding, the Company and each Subsidiary shall be prohibited from effecting or entering into an agreement to effect any Subsequent Placement involving a Variable Rate Transaction (other than pursuant to one or more Company’s Sales Agreement with A.G.P./Alliance Global Partners or any amendment thereto existing on the date hereof or entered into the future in connection with the filing of a new shelf registration statement on Form S-3, the “Permitted ATM”).

More Definitions of Variable Rate

Variable Rate means a per annum rate equal at all times to the Prime Rate plus the Applicable Margin for Prime Rate Loans, with changes therein to be effective simultaneously without notice or demand of any kind with any change in the Prime Rate.

Variable Rate means that the per-unit kWh charge for electric power and energy service changes at any time during the term of the contract but does not change more than once per month.

Variable Rate means the rate per annum equal to the Prime Rate per annum as in effect from time to time. The Variable Rate will change on each day that the "Prime Rate" changes.

Variable Rate means a fluctuating rate of interest equal to the Base Rate.

Variable Rate means, for any day, the higher of (i) Federal Funds Rate for such day plus 0.5% and (ii) the Prime Rate.

Variable Rate means the variable rate of interest per annum, including the Initial Rate, borne by each class of Auction Rate Notes during the Initial Period for such class, and each Accrual Period thereafter as such rate of interest is determined in accordance with the provisions of Article II of this Appendix A-2.

Variable Rate means a variable interest rate or rates to be borne by a Series of Bonds or any one or more maturities within a Series of Bonds, as such variable interest rate is determined in accordance with Section 15(n)(iii) (Hedging and Variable Rate Bonds).