Definition of Prime Rate Sample Clauses

Definition of Prime Rate. The "Prime Rate" equals the rate of interest set from time to time by Sumitomo at its head office in San Francisco, California as its Prime Rate. The Prime Rate is determined by Sumitomo as a means of pricing credit extensions to some customers and is neither tied to any external rate of interest or index nor is it necessarily the lowest rate of interest charged by Sumitomo at any given time for any particular class of customers or credit extensions. Any changes in the interest rate resulting from a change in the Prime Rate shall take effect without notice on the date specified at the time the Prime Rate is set.
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Definition of Prime Rate. The “prime rate” as published in the Wall Street Journal as of the payment due date, but not in excess of the maximum rate permitted by law.
Sample 1
Definition of Prime Rate. The definition of “Prime Rate” is hereby amended by the insertion of the following text at the end thereof: “THE PRIME RATE IS A REFERENCE RATE AND MAY NOT BE JPMORGAN CHASE BANK, N.A.’S LOWEST RATE.”
Sample 1
Definition of Prime Rate. The following new definition is inserted in Section 2 in proper alphabetical order: Prime Rate shall mean on any day, the rate of interest per annum then most recently established by Bank as its "Prime Rate". Such rate is a general reference rate of interest, may not be related to any other rate, and may not be the lowest or best rate actually charged by Bank to any customer or a favored rate and may not correspond with future increases or decreases in interest rates charged by other lenders or market interest rates in general.
Sample 1

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