Variable Rate Portion definition

Variable Rate Portion is defined in Section 2.2(b).
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Variable Rate Portion is the principal balance of the Loan which is subject to a Variable Rate, including without limitation, any Advances of the Loan made on a date other than a Due Date, or any portion of the Loan for which Borrower affirmatively elects to bear interest at the Variable Rate as provided in Section 2.8(e) hereof.
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Variable Rate Portion is defined in Section 3.2(b).
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Examples of Variable Rate Portion in a sentence

  • Interest on the Variable Rate Portion shall be payable monthly on each Interest Payment Date, commencing on the first Interest Payment Date following the date of issuance of the Term Note.

  • If Borrower has failed to make such elections at the end of any Interest Period under the Term Facility, the applicable LIBOR Rate Portion shall expire and convert to a Variable Rate Portion.

  • Notwithstanding the preceding sentence, upon election of a Variable Rate in accordance with the foregoing, the Variable Rate Portion of the Loan shall thereafter bear interest at the Variable Rate unless and until Borrower thereafter sends written notice to Administrative Agent that Borrower elects to have such Variable Rate Portion bear interest at the One-Month LIBO Rate.

  • Interest on the Variable Rate Portion shall be payable quarterly on each Interest Payment Date, commencing on the first Interest Payment Date following the date of issuance of the Substitute Term Note.

  • In the case of any Advance which is to be a Variable Rate Portion, Borrower, acting through an authorized officer, shall give Lender prior to 10:00 a.m., Dallas, Texas time, on the date of any such proposed Advance, an irrevocable Notice of Borrowing stating Borrower's intention to borrow or reborrow such Variable Rate Advance hereunder.

  • The portion of the indebtedness evidenced by the Substitute Term Note that bears interest at the Variable Term Rate is referred to herein and in the Loan Agreement as the "Variable Rate Portion".

  • Such Notice of Borrowing shall specify the requested funding date, which shall be a Business Day and the amount of the proposed Variable Rate Portion to be advanced by Lender, and shall be accompanied by the documents required to be delivered pursuant to ARTICLE IV.

  • Borrower shall notify Lender at Lender's Principal Office, not later than the time required for the applicable type of Advance pursuant to SECTIONS 2.2(b) and (c), of the amount of such Advance and the date such Advance is to be effected (which shall be a Business Day), which notice shall specify what portion of such Advance is to be a LIBOR Rate Portion and/or a Variable Rate Portion.

  • Interest on the Variable Rate Portion shall be payable quarterly on each Interest Payment Date, commencing on the first Interest Payment Date following the date of issuance of the Tranche A Term Note.

  • If Borrower has failed to make such election at the end of an Interest Period for any LIBOR Rate Portion under the Note, such LIBOR Rate Portion then maturing shall become a Variable Rate Portion.


More Definitions of Variable Rate Portion

Variable Rate Portion means an Advance or a portion of the Credit Facility that bears interest computed with reference to the Variable Rate.
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Variable Rate Portion means that portion of this Note which bears interest computed with reference to the Variable Rate.
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Related to Variable Rate Portion

  • Base Rate Portion of any Loan or Loans shall mean at any time the portion, including the whole, of such Loan or Loans bearing interest at such time (i) under the Base Rate Option or (ii) in accordance with Section 2.09(c)(ii) hereof. If no Loan or Loans is specified, "Base Rate Portion" shall refer to the Base Rate Portion of all Loans outstanding at such time.

  • 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.

  • 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.

  • Variable Rate Transaction shall have the meaning ascribed to such term in Section 4.12(b).

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on April 1, 2022 and ending on and including March 31, 2027 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including March 31 in the fifth year thereafter.