Example ContractsClausesBase Rate Option
Base Rate Option
Base Rate Option contract clause examples

Base Rate Option. A rate of interest per annum which is at all times equal to # the Base Rate plus # the Applicable Margin per annum, then in effect. If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance to which the Base Rate Option applies will change automatically without notice to the Borrowers, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Base Rate Option.

Base Rate Option Unless Borrower requests and receives a Term SOFR Rate Loan pursuant to [Subsection 512] hereof, the outstanding principal balance owing hereunder for 5-Year Advances (unless otherwise specified pursuant to [Section 3.9], in the case of Swingline Advances) shall bear interest at the Base Rate (each a “Base Rate Loan”) plus the 5-Year Margin for Base Rate Loans.

Base Rate Option. A rate of interest per annum which is at all times equal to # the Base Rate plus # the Applicable Margin per annum, then in effect. If and when the Base Rate (or any component thereof) changes, the rate of interest with respect to any advance to which the Base Rate Option applies will change automatically without notice to the Borrowers, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Base Rate Option.

Base Rate. The definition of “Base Rate” set forth in the Credit Agreement is hereby amended by adding the following new sentence to the end of such definition: “Notwithstanding anything to the contrary contained in this definition, if the Base Rate determined pursuant to this definition is below 2.00%, the Base Rate shall be deemed to be 2.00%.”

Revolving Credit Base Rate Option. A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

Revolving Credit Base Rate Option. A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate;

Base Rate Loan. The Borrower shall pay interest on the unpaid principal amount of a Revolving Loan that is a Base Rate Loan outstanding from time to time from the date thereof until paid at the Derived Base Rate from time to time in effect. Interest on such Base Rate Loan shall be payable, commencing March 31, 2021, and continuing on each Regularly Scheduled Payment Date thereafter and at the maturity thereof.

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 # the Base Rate in effect from time to time plus # the Applicable Margin in respect of Base Rate Advances 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 any Revolving Loans shall be comprised of Base Rate Loans, each such Base Rate Loan shall bear interest at a per annum rate equal to the sum of the Base Rate plus the Applicable Margin; and

Base Rate Advances. If such Advance is a Base Rate Advance, at a fluctuating rate which is equal to # the Base Rate then in effect plus # the Applicable Rate for Base Rate Advances.

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