Base Rate Borrowings Clause Samples

The 'Base Rate Borrowings' clause defines the terms under which a borrower can obtain loans that accrue interest based on a base rate, typically linked to a bank's prime rate or another benchmark rate. This clause outlines how the base rate is determined, how interest is calculated on such borrowings, and any specific conditions or limitations that apply to these types of loans. For example, it may specify minimum borrowing amounts or frequency of interest rate adjustments. Its core practical function is to provide a clear framework for calculating interest on certain loans, ensuring both parties understand the cost of borrowing and reducing disputes over interest charges.
Base Rate Borrowings. The Loans comprising each Base Rate Borrowing shall bear interest at a rate per annum equal to the Adjusted Base Rate plus the Applicable Rate.
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Base Rate Borrowings. The term “BASE RATE BORROWINGS” means those portions of the LOANS upon which interest accrues at the ADJUSTED BASE RATE.
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Base Rate Borrowings. Each Base Rate Borrowing shall bear interest (computed on the basis of a 365/366-day year and actual days elapsed excluding the date of repayment) on the unpaid principal amount thereof from the date such Borrowing is advanced, continued or created through conversion until the last day of its Interest Period, conversion to a Eurodollar Borrowing or maturity (whether by acceleration or otherwise), at a rate per annum equal to the Base Rate from time to time in effect, payable on such last day of its Interest Period, date of conversion or at maturity (whether by acceleration or otherwise).
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Base Rate Borrowings 
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Related to Base Rate Borrowings

  • Base Rate Advances During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

  • Base Rate Loans During such periods as Revolving Loans shall be comprised in whole or in part of Base Rate Loans, such Base Rate Loans shall bear interest at a per annum rate equal to the Adjusted Base Rate.

  • ABR Loans The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus the Applicable Margin, but in no event to exceed the Highest Lawful Rate.

  • Revolving Borrowings Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrower, in Dollars, from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving Commitment; provided, however, that after giving effect to any Revolving Borrowing, (i) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (ii) the Revolving Exposure of any Lender shall not exceed such Revolving Lender’s Revolving Commitment. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow Revolving Loans, prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein; provided, however, any Revolving Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such Revolving Borrowing.