Common use of Determination of Prime Rate Clause in Contracts

Determination of Prime Rate. (i) The "prime rate" for any Interest Determination Date is the prime rate or base lending rate on that date, as published in H.15(519) prior to 3:00 P.M., New York City time, on the calculation date for that Interest Determination Date under the heading "Bank Prime Loan."

Determination of Prime Rate. (i) The "“prime rate" ” for any Interest Determination Date is the prime rate or base lending rate on that date, as published in H.15(519) prior to 3:00 P.M.by 9:00 A.M., New York City time, on the calculation date for that Interest Determination Date under the heading "“Bank Prime Loan."”