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.
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Samples: Loan and Security Agreement (Concurrent Computer Corp/De), Subordinated Loan and Security Agreement (Roku, Inc), Loan and Security Agreement (Marin Software Inc)
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. Interest on Prime Rate Advances is payable quarterly by debit to the Designated Deposit Account on each Interest Payment Date.
Appears in 3 contracts
Samples: Loan and Security Agreement (Equinix Inc), Loan and Security Agreement (Equinix Inc), Loan and Security Agreement (Equinix Inc)
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 by Bank on the basis of Borrowers’ Net Cash in accordance with the terms hereof.
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