Fixed Rate Term

Example Definitions of "Fixed Rate Term"
Fixed Rate Term. A period commencing on a Business Day and continuing for 1, 2 or 3 months, as designated by Borrower, during which all or a portion of the outstanding principal balance of the Note bears interest determined in relation to LIBOR; provided however, that no Fixed Rate Term may be selected for a principal amount less than $100,000.00; and provided further, that no Fixed Rate Term shall extend beyond the scheduled maturity date hereof. If any Fixed Rate Term would end on a day which is not a... Business Day, then such Fixed Rate Term shall be extended to the next succeeding Business Day. View More
All Definitions