Prime Rates. Prime Rates shall be determined for each business day in New York City, and for non-business days shall equal the Prime Rate as determined for the most recent preceding business day. The PRIME RATES as published in The Wall Street Journal (Eastern Edition) shall be the primary source for the Prime Rates. If The Wall Street Journal does not publish such a rate for a business day, the Prime Rate shall be the maximum of the rates publicly announced by major banks in New York City as their "Prime Rates" applicable to such day.
Appears in 2 contracts
Sources: Reinsurance Agreement (Phoenix Companies Inc/De), Coinsurance and Yearly Renewable Term Reinsurance Agreement (American Equity Investment Life Holding Co)