Prime Rate Advance Sample Clauses

Prime Rate Advance. Section 1.1(nnn) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:
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Prime Rate Advance. The term “Prime Rate Advance” means any principal amount outstanding under a Loan which bears interest based on the Prime Rate.
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Prime Rate Advance. The Borrower shall not select a Libor Interest Period which conflicts with the definition of Libor Interest Period in Section 1.01 or, in the opinion of the Administrative Agent, with the repayment schedule in Section 2.04.
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Prime Rate Advance. The Borrower, by submitting an Advance request, may obtain Advances at any time during the Advance Period at the Bank's "Prime Rate" of interest (defined below) minus 200 basis points. Advances made by Bank to Borrower under the Target Balance Service Agreement between Borrower and Bank dated January 20, 1998 shall be deemed to be Advances made under this Section 3(c). The term "Prime Rate" means the variable per annum rate of interest so designated from time to time by Fleet National Bank as its prime rate. The prime rate is a reference rate and does not necessarily represent the lowest or the best rate being charged to any customer. Changes in the rate of interest resulting from changes in the Prime Rate shall take place immediately without any notice or demand of any kind.
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Prime Rate Advance. Any portion of the principal amount of this Note outstanding which bears interest at the Prime Based Rate. Interest shall be calculated on the daily outstanding balance of each type of Advance. Interest shall be computed on the basis of a year of 360 days for the actual number of days elapsed through the actual payment due date. Changes in the Prime Rate and/or the Floating LIBO Rate shall be effective as of the date of change in the applicable rate. Interest on Prime Rate Advances and Floating LIBO Rate Advances shall be paid quarterly in arrears commencing on June 30, 1996 and continuing on each September 30, December 30, March 30 and June 30 thereafter prior to the Maturity Date. Interest on LIBO Rate Advances shall be paid on the last date of each applicable LIBO Interest Period. The outstanding principal balance of this Note, plus unpaid accrued interest, shall be due and payable on the Maturity Date. Borrower shall have the option from time to time, in the manner hereinafter set forth, to convert the interest rate on portions of the outstanding principal balance of this Note from the Prime Based Rate to either (a) the Floating LIBO Rate (the "Floating LIBO Rate Option") or (b) the LIBO Rate (the "LIBO Rate Option"). To exercise the Floating LIBO Rate Option, Borrower shall give Lender written notice of Borrower's Floating LIBO Rate election prior to 12:00 Noon, local time, on the Business Day that Borrower elects to have the Floating LIBO Rate apply, which notice shall specify the portion of the outstanding principal balance of the Note, with respect to which Borrower is making such election, and the date upon which the Floating LIBO Rate is to commence. Changes in the Floating LIBO Rate caused by changes in the LIBO Margin shall be effective as of
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Related to Prime Rate Advance

  • 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 (x) the Base Rate in effect from time to time plus (y) the Applicable Margin 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.

  • Prime Rate Loans During such periods as Revolving Loans shall be comprised of Prime Rate Loans, each such Prime Rate Loan shall bear interest at a per annum rate equal to the sum of the Prime Rate;

  • Eurodollar Rate Advances During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full.

  • Eurocurrency Rate Advances During such periods as such Advance is a Eurocurrency Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurocurrency Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurocurrency Rate Advance shall be Converted or paid in full.

  • Base Rate Loans During such periods as Revolving Loans shall be comprised in whole or in part of Base Rate Loans, such Base Rate Loans shall bear interest at a per annum rate equal to the Adjusted Base Rate.

  • LIBOR Advances The interest rate applicable to each LIBOR Advance shall be determined in accordance with Section 3.6(a) hereunder. Subject to Sections 3.6 and 3.7, such rate shall apply during the entire Interest Period applicable to such LIBOR Advance, and interest calculated thereon shall be payable on the Interest Payment Date applicable to such LIBOR Advance.

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

  • Eurodollar Advances Each Eurodollar Advance shall bear interest during its Interest Period equal to at all times the Eurodollar Rate for such Interest Period plus the Applicable Margin for Eurodollar Advances for such period. The Borrower shall pay to the Administrative Agent for the ratable account of each Lender all accrued but unpaid interest on each of such Lender’s Eurodollar Advances on the last day of the Interest Period therefor (provided that for Eurodollar Advances with Interest Periods of six months or more, accrued but unpaid interest shall also be due on the day three months from the first day of such Interest Period), on the date any Eurodollar Advance is repaid, and on the Maturity Date.

  • Additional Interest on Eurodollar Rate Advances The Borrower shall pay to each Lender, so long as such Lender shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender, from the date of such Advance until such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period for such Advance from (ii) the rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of such Lender for such Interest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender and notified to the Borrower through the Administrative Agent, and such determination shall be conclusive and binding for all purposes, absent manifest error.

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.

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