Domestic Prime Rate definition

Domestic Prime Rate means, for any day, the annual rate of interest then most recently announced by Bank of America at its head office in Charlotte, North Carolina as its “prime rate”. The Domestic Prime Rate is a reference rate and does not necessarily represent the lowest or best rate being charged to any customer. Any change in the Domestic Prime Rate due to a change in Bank of America’s prime rate shall be effective on the effective date of such change in Bank of America’s prime rate.
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Domestic Prime Rate means the rate of interest in effect for such day as publicly announced from time to time by the Domestic Administrative Agent as its “prime rate.” Such “prime rate” is a rate set by the Domestic Administrative Agent based upon various factors including the Domestic Administrative Agent’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such “prime rate” announced by the Domestic Administrative Agent shall take effect at the opening of business on the day specified in the public announcement of such change.
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Domestic Prime Rate means the rate that Domestic Administrative Agent announces from time to time as its prime lending rate in the United States for Dollar denominated loans, as in effect from time to time. The Domestic Prime Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. Domestic Administrative Agent or any other Lender may make commercial loans or other loans at rates of interest at, above or below the Domestic Prime Rate.
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Examples of Domestic Prime Rate in a sentence

  • All Swing Line Loans made to the Domestic Borrowers shall be only Domestic Prime Rate Loans.

  • If any amount (other than the principal of and interest on the Loans) payable by the Borrowers under the Credit Documents is not paid when due, such amount shall bear interest, payable on demand, at a fluctuating rate per annum equal to two percent (2%) per annum above the interest rate which would be applicable under section 2.8(a) to Domestic Prime Rate Loans in effect from time to time.

  • Each such Notice of Swing Line Refunding shall be deemed to constitute delivery by the Domestic Facility Borrowers of a Notice of Borrowing requesting Domestic Revolving Loans consisting of Domestic Prime Rate Loans in the amount of the Swing Line Revolving Loans to which it relates.

  • Each Domestic Facility Borrower irrevocably and unconditionally agree that, notwithstanding anything to the contrary contained in this Agreement, Domestic Revolving Loans made as herein provided in response to a Notice of Swing Line Refunding shall constitute Domestic Revolving Loans hereunder consisting of Domestic Prime Rate Loans.

  • Upon receipt of such notice, the applicable Borrowers shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all LIBO Rate Loans of such Lender to Domestic Prime Rate Loans or Canadian Prime Rate Loans, as applicable, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such LIBO Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such LIBO Rate Loans.

  • Notwithstanding the above provisions, if a Default under section 12.1(a) or an Event of Default is in existence, all outstanding amounts of principal and, to the extent permitted by law, all overdue interest, in respect of each Loan shall bear interest, payable on demand, at a fluctuating rate per annum equal to two percent (2%) per annum above the interest rate which is or would be applicable from time to time pursuant to sections 2.8(a) in respect of Domestic Prime Rate Loans.

  • During such periods as a Domestic Revolving Loan, a Swing Line Revolving Loan, a Domestic Term Loan or a Canadian Revolving Loan is a Domestic Prime Rate Loan, the unpaid principal amount thereof shall bear interest at a fluctuating rate per annum which shall at all times be equal to the Domestic Prime Rate in effect from time to time.

  • During such periods as a Domestic Revolving Loan or a Swing Line Revolving Loan is a Domestic Prime Rate Loan, the unpaid principal amount thereof shall bear interest at a fluctuating rate per annum which shall at all times be equal to the Domestic Prime Rate in effect from time to time.

  • Notwithstanding the above provisions, if a Default under section 10.1(a) or an Event of Default is in existence, all outstanding amounts of principal and, to the extent permitted by law, all overdue interest, in respect of each Loan shall bear interest, payable on demand, at a fluctuating rate per annum equal to two percent (2%) per annum above the interest rate which is or would be applicable from time to time pursuant to sections 2.8(a) in respect of Domestic Prime Rate Loans.

  • Any Existing Domestic Revolving Loan, Existing Domestic Term Loan or Existing Canadian Revolving Loan that is, as the case may be, a Domestic Prime Rate Loan or a Canadian Prime Rate Loan shall remain as such.


More Definitions of Domestic Prime Rate

Domestic Prime Rate means, for any period, (a) except in the case of Canadian Revolving Loans denominated in Dollars, a fluctuating interest rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the greater of (i) the rate of interest established by National City Bank at its principal office in Cleveland, Ohio, from time to time, as its prime rate, whether or not publicly announced, which interest rate may or may not be the lowest rate charged by it for commercial loans or other extensions of credit; and (ii) the Federal Funds Effective Rate in effect from time to time plus 1/2 of 1% per annum, and (b) in the case of Canadian Revolving Loans denominated in Dollars, a fluctuating interest rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the greater of (i) the rate of interest established by Bank One at its principal office in Chicago, Illinois, from time to time, as its prime rate, whether or not publicly announced, which interest rate may or may not be the lowest rate charged by it for commercial loans or other extensions of credit; and (ii) the Federal Funds Effective Rate in effect from time to time plus 1/2 of 1% per annum.
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Domestic Prime Rate means, for any period, (a) except in the case of Canadian Revolving Loans denominated in Dollars, a fluctuating interest rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the greater of (i) the rate of interest established by National City Bank at its principal office in Cleveland, Ohio, from time to time, as its prime rate, whether or not publicly announced, which interest rate may or may not be the lowest rate charged by it for commercial loans or other extensions of credit; and (ii) the Federal Funds Effective Rate in effect from time to time plus 1/2 of 1% per annum, and (b) in the case of Canadian Revolving Loans denominated in Dollars, a fluctuating interest rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the greater of (i) the rate of interest established by Chase Bank at its principal office in New York, New York, from time to time, as its prime rate, whether or not publicly announced, which interest rate may or may not be the lowest rate charged by it for commercial loans or other extensions of credit; and (ii) the Federal Funds Effective Rate in effect from time to time plus 1/2 of 1% per annum.
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Domestic Prime Rate means the per annum rate of interest announced publicly by the Agent as its prime rate from time to time. The Domestic Prime Rate is not necessarily the best or the lowest rate of interest offered by the Agent;
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Domestic Prime Rate means, for any period, a fluctuating interest rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the greater of (i) the rate of interest established by the Domestic Administrative Agent at its principal office, from time to time, as its prime rate, whether or not publicly announced, which interest rate may or may not be the lowest rate charged by it for commercial loans or other extensions of credit; and (ii) the Federal Funds Effective Rate in effect from time to time plus 1/2 of 1% per annum.
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Domestic Prime Rate means the per annum rate of interest established from time to time by NationsBank as its prime rate, which rate may not be lowest rate charged by NationsBank to its customers;
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Related to Domestic Prime Rate

  • U.S. Prime Rate means the rate from time to time publicly announced by Reference Bank, or its successors, as its prime rate, whether or not such announced rate is the best rate available at such bank.

  • Canadian Prime Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum.

  • Prime Rate means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • Domestic Rate means for any day the greater of:

  • Prime Rate Margin is set forth on Schedule I hereto.

  • Adjusted Prime Rate A rate per annum equal to the sum of (a) the Prime Rate Margin and (b) the greater of (i) the Prime Rate or (ii) one percent (1%) in excess of the Federal Funds Effective Rate. Any change in the Adjusted Prime Rate shall be effective immediately from and after such change in the Adjusted Prime Rate.

  • Reference Rate means the rate specified as such hereon.

  • Base Rate means, for any day, the rate per annum equal to the higher of (a) the Federal Funds Rate for such day plus one-half of one percent (0.5%) and (b) the Prime Rate for such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Rate.

  • Canadian Prime Rate Loan means any Loan made to the Borrower in Canadian Dollars which bears interest based upon the Canadian Prime Rate as provided in Section 4.1(a).

  • Canadian Base Rate means the rate determined by the Agent as the higher of (i) the annual rate of interest announced by the Agent (or any of its branches) as being its “prime rate” for determining interest rates on Canadian Dollar-denominated commercial loans made by it in Canada and (ii) the BA Rate (after giving effect to any minimum rate set forth in the definition thereof) for a one month BA Interest Period commencing on such day (or, if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%.

  • U.S. Base Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by a commercial Canadian bank selected by the Lender and in effect as its base rate at its principal office in Toronto, Ontario on such day for determining interest rates on Dollar demand commercial loans in Canada, and (b) the sum of the Federal Funds (Effective) Rate plus 0.50% per annum.

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Straight-time rate means the hourly rate of remuneration.

  • Canadian Prime Rate Loans means any Canadian Dollar Revolving Loan during the period which it bears interest at a rate determined by reference to the Canadian Prime Rate.

  • Domestic Rate Loan means any Advance that bears interest based upon the Alternate Base Rate.

  • CDOR Rate is defined in the definition of “Eurocurrency Rate” herein.

  • Prime Rate Loan means any Loan bearing interest at a rate determined by reference to the Prime Rate.

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • Applicable Eurocurrency Margin means, as at any date of determination, the rate per annum then applicable to Eurocurrency Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Prime Rate Loans means any Loans or portion thereof on which interest is payable based on the Prime Rate in accordance with the terms thereof.

  • LIBO Base Rate means with respect to each day an Advance is outstanding (or if such day is not a Business Day, the next succeeding Business Day), the rate per annum equal to the rate published by Bloomberg or if such rate is not available, the rate appearing at page 3750 of the Telerate Screen as one-month LIBOR on such date, and if such rate shall not be so quoted, the rate per annum at which the Lender is offered Dollar deposits at or about 11:00 A.M., eastern time, on such date by prime banks in the interbank eurodollar market where the eurodollar and foreign currency and exchange operations in respect of its Advances are then being conducted for delivery on such day for a period of one month and in an amount comparable to the amount of the Advances to be outstanding on such day.

  • Debt Rate means, with respect to (i) any Series of Equipment Notes, the rate per annum specified for such Series under the heading “Interest Rate” in Schedule I to the Trust Indenture (as amended, in the case of any Additional Series, at the time of original issuance of such Additional Series), and (ii) any other purpose, with respect to any period, the weighted average interest rate per annum during such period borne by the outstanding Equipment Notes, excluding any interest payable at the Payment Due Rate.

  • Eurocurrency Base Rate has the meaning specified in the definition of Eurocurrency Rate.

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.