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Prime Rate Advances
Sample Clauses
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Prime Rate Advances
. Each
change in
the interest
rate of
the Prime Rate
Advances
based on
changes in
the Prime Rate shall be effective on the effective
date of
such change and
to the extent
of such change.
Sample 1
Sample 2
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Prime Rate Advances
. During such periods as such Advance is a
Prime Rate Advance
, a rate
per annum
equal
at all times
to the
sum of
(x)
the Prime Rate
in effect
from time to time
plus (y) the
Applicable Margin
for such Advance in effect from time to time, payable
in arrears
monthly on the last
day of
each month during such periods and on the date such Prime Rate Advance shall be Converted or
paid in full
.
Sample 1
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Prime Rate Advances
. Each
change in
the interest
rate of
the Prime Rate
Advances
based on
changes in
the Prime Rate shall be effective on the effective
date of
such change and
to the extent
of such change. Bank shall use its
best efforts
to give Borrower prompt
notice of any
such change in the Prime Rate; provided, however, that any failure
by Bank
to provide
Borrower
with notice
hereunder shall not affect Bank’s
right to make changes
in the interest rate of the Prime Rate Advances based on changes in the Prime Rate.
Sample 1
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Prime Rate Advances
. If such Advance is a
Prime Rate Advance
, a rate
per annum
equal
at all times
to the
lesser of
(i) the
Adjusted Prime Rate
in effect
from time to time
plus the
Applicable Margin
and (ii) the
Maximum Rate
, payable
in arrears
on the last Business
Day of
each
calendar quarter
and on the date such Prime Rate Advance shall be
paid in full
,
provided that
any amount of principal which is not paid when due (whether at
stated maturity
, by acceleration or otherwise) shall bear interest from the date on which such amount is due until such amount is paid in full,
payable on demand
, at a rate per annum equal at all times to the lesser of (a)
the rate
required to be paid on such Advance immediately
prior to the
date on which such amount becomes due plus two percent (2%) and (b) the Maximum Rate.
Sample 1
Sample 2
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Prime Rate Advances
. Each
change in
the interest
rate of
the Prime Rate
Advances
based on
changes in
the Prime Rate shall be effective on the effective
date of
such change and
to the extent
of such change. The
Prime Rate Margin
applicable to
Prime Rate Advances shall be determined on the
basis of
Borrower’s
most recent
monthly Liquidity
and quarterly
Free Cash Flow
, as reported
to Bank
in the
Monthly Financial Statements
, and such Prime Rate Margin shall be adjusted
promptly upon
each
receipt of
such Monthly Financial Statements.
Sample 1
Sample 2
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Prime Rate Advances
. If and so long as such Advance is a
Prime Rate Advance
, at a rate
per annum
equal
at all times
to the
sum of
the Prime Rate
in effect
from time to time
plus the
Applicable Margin
, calculated on the daily
principal amount outstanding
under such Prime Rate Advance and payable in Cdn. Dollars
in arrears
:
Sample 1
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Prime Rate Advances
. Each
Prime Rate Advance
shall be in an amount not less than Five Hundred Thousand Dollars ($500,000). The
outstanding principal balance
of each Prime Rate Advance shall bear interest until principal is due (computed daily on the
basis of
a 360 day year and
actual days
elapsed), at a fluctuating rate
per annum
equal to
the Prime Rate
.
Borrower shall
pay the entire
outstanding principal amount
of each Prime Rate Advance and in any event
on the Maturity Date
.
Sample 1
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Prime Rate Advances
. Prime Rate Advances under
the Revolving Credit
shall bear interest at
the Prime Rate
.
Sample 1
Sample 2
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Prime Rate Advances
. The
outstanding principal balance
of each
Prime Rate Advance
shall bear interest until principal is due (computed daily on the
basis of
a 360 day year and
actual days
elapsed), at a
floating rate
per annum
equal to
one percent (1.00%) above
the Prime Rate
.
Borrower shall
pay the entire
outstanding principal amount
of each Prime Rate Advance, together with accrued but
unpaid interest
, on the
Revolving Maturity Date
.
Sample 1
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Prime Rate Advances
. If such Advance is a
Prime Rate Advance
, at a fluctuating rate which is
equal to
(i)
the Prime Rate
then
in effect
plus (ii) the
Pricing Increment
, each
change in
such fluctuating rate to take effect
simultaneously with the
corresponding change in the Prime Rate.
Sample 1
Sample 2
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