Defaulting Lender Rate means # for the first 3 days from and after the date the relevant payment is due, the Base Rate, and # thereafter, the interest rate then applicable to Revolving Loans that are Base Rate Loans (inclusive of the Base Rate Margin applicable thereto).
“Base Rate Loans” means a Loan that bears interest at a rate based on the Base Rate.
“Default Rate” means an interest rate equal to # in the case of EurodollarTerm SOFR Loans or SOFR Daily Floating Rate Loans, the sum of # the EurodollarTerm SOFR or SOFR Daily Floating Rate, as applicable, for such Loans, plus # the Applicable Rate applicable to such Loans, plus # 2% per annum, # in the case of the Letter of Credit Fees, a rate equal to # the Applicable Rate plus 2% per annum, # in the case of Base Rate Loans and for all other Obligations, the sum of # the Base Rate plus # the Applicable Rate applicable to Base Rate Loans, plus # 2% per annum.
The Type of Loans comprising the Proposed Borrowing is [Base Rate Loans] [Eurodollar Rate Loans].
The Loans comprising each Base Rate Borrowing shall bear interest at the Base Rate plus the Applicable Rate.
whether the Borrowing is to be comprised of Eurocurrency Rate Loans or Base Rate Loans; and
“Applicable Margin” means # for Eurodollar Rate Loans, 0.825% per annum, and # for Base Rate Loans, zero.
“Base Rate Loan” means each portion of the Revolving Loans that bears interest at a rate determined by reference to the Base Rate.
Base Rate Loans. During the period referenced in the foregoing sentence, the component of Base Rate based upon the Benchmark will not be used in any determination of Base Rate.
(A) any outstanding Term SOFR Loans shall be deemed to have been converted to Base Rate Loans immediately and # any outstanding affected Alternative Currency Loans, at the Company’s election, shall either # be converted into a Borrowing of Base Rate Loans
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