Variable Rate Advances definition

Variable Rate Advances. A variable rate per annum equivalent to the Prime Rate (the "Variable Rate"). Interest shall be adjusted concurrently with any change in the Prime Rate. An Advance based upon the Variable Rate is hereinafter referred to as a "Variable Rate Advance".
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Variable Rate Advances. A variable rate per annum equivalent to an index for a variable interest rate which is quoted, published or announced from time to time by the Bank as its reference rate and as to which loans may be made by the Bank at, below or above such reference rate (the "Reference Rate") plus 0.50% (the "Variable Rate"). Interest shall be adjusted concurrently with any change in the Reference Rate. An Advance based upon the Variable Rate is hereinafter referred to as a "Variable Rate Advance".
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Variable Rate Advances. A variable rate equivalent to the Reference Rate per annum (the "Variable Rate"). Interest shall be adjusted concurrently with any change in the Reference Rate. An Advance based upon the Variable Rate is hereinafter referred to as a "Variable Rate Advance".
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Examples of Variable Rate Advances in a sentence

  • The Annual Percentage Rate (corresponding to the periodic rate) and the minimum payment during the draw and the repayment periods for Variable Rate Advances can change as a result.

  • Under the terms of this Home Equity Line of Credit, you may obtain two types of credit advances: Variable Rate Advances; and Fixed Rate Advances.

  • The information provided below applies only to any Variable Rate Advances you may obtain under this plan.

  • You may obtain Variable Rate Advances at any time, subject to your maximum credit limit, and the terms of your Agreement.

  • For Premier Credit Lines, the rate of interest payable on Variable Rate Advances is subject to change without notice in accordance with fluctuations in LIBOR and in the Approved Amount.

  • On each day that LIBOR changes or the Approved Amount crosses one of the thresholds that is indicated on Schedule I (or that is otherwise specified by the Bank in writing), the interest rate on all Variable Rate Advances will change accordingly.

  • For Prime Credit Lines, the rate of interest payable on Variable Rate Advances is subject to change without notice in accordance with fluctuations in the Prime Rate and in the aggregate amount outstanding under the Prime Credit Line.

  • On each date that the Prime Rate changes or the aggregate principal amount outstanding under the Prime Credit Line crosses one of the thresholds that is indicated on Schedule II (or that is otherwise specified by the Bank in writing), the interest rate on all Variable Rate Advances will change accordingly.

  • Interest on all Variable Rate Advances shall be payable monthly beginning on the first Banking Day of the month following the date of this Note, and continuing thereafter on the first Banking Day of each succeeding month until the principal balance shall be paid in full.

  • All reimbursement obligations relating to letters of credit that are not paid immediately shall be automatically treated as Variable Rate Advances.

Related to Variable Rate Advances

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds. Section 102.Rules of Construction. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. Unless the context shall otherwise indicate, the words "Bond," "Escrow Agent," "Owner," "person," "Paying Agent," and "Bond Registrar" shall include the plural as well as the singular number and the word "person" shall mean any individual, corporation partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. All references to applicable provisions of Law shall be deemed to include any and all amendments thereto.

  • Floating Rate Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the Floating Rate.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • ABR Advance means an Advance which bears interest at the ABR Rate.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.68%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • LIBOR Loans means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • Base Rate Committed Loan means a Committed Loan that is a Base Rate Loan.

  • Base Rate Loans Loans the rate of interest applicable to which is based upon the Base Rate.

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.