“Type” means, with respect to any Advance, its nature as a Floating Rate Advance or a Eurocurrency Rate Advance and with respect to any Loan, its nature as a Floating Rate Loan or a Eurocurrency Rate Loan.
“Term SOFR Rate Advance” means an Advance that bears interest at a rate based on the Term SOFR Rate.
“Eurocurrency Rate Advance” means an Advance which bears interest at the Eurocurrency Rate.
“Floating Rate Advance” means an Advance which bears interest at the Floating Rate.
Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.
“Benchmark Bid Rate Advance” means a Competitive Bid Advance which bears interest at a Benchmark Bid Rate.
The requested Ratable Advance is an [Floating Rate Advance] [Eurocurrency Ratable Advance].
Changes in Interest Rate, etc. Each Floating Rate Advance shall bear interest on the outstanding principal amount thereof, for each day from the date such Advance is made or is converted from a Eurodollar Advance into a Floating Rate Advance pursuant to [Section 2.2.4] to the date it becomes due or is converted into a Eurodollar Advance pursuant to [Section 2.2.4], at a rate per annum equal to the Floating Rate plus the Base Rate Margin for such day. Changes in the rate of interest on that portion of any Advance maintained as a Floating Rate Advance will take effect simultaneously with each change in the Alternate Base Rate. Each Eurodollar Advance shall bear interest on the outstanding principal amount thereof from the first day of the Interest Period applicable thereto to the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Advance based upon the Borrowers selections under [Sections 2.2.3 and 2.2.4]4] and the Pricing Schedule. No Interest Period may end after the Facility Termination Date.
“Floating Rate Advance” means # a Dollar-denominated Advance which bears interest at the Alternate Base Rate or # a Sterling-denominated Advance which bears interest at Daily Simple SONIA.
“Type” refers to whether an Advance is a SOFR Advance or Floating Rate Advance.
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