Bank Prime Loan definition

Bank Prime Loan rate cited in the federal Reserve Statistical Release Publication G.13(415), published on the first Tuesday of each calendar month (or such other comparable index as Landlord and Tenant shall reasonably agree upon if such rate ceases to be published) plus four (4) percentage points, and (ii) the highest rate permitted by applicable law (the “Interest Rate”). ARTICLE 26
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Bank Prime Loan. The Issuer shall observe the following procedures if the Prime Rate cannot be determined as described above: (a) if the rate described above is not published in H.15(519) prior to 3:00 p.m., New York City time, on the relevant Interest Rate Determination Date unless the calculation is made earlier and the rate was available from that source at that time, then the Prime Rate will be the rate for that Interest Rate Determination Date, as published in H.15 Daily Update or another recognized electronic source for displaying such rate opposite the caption “Bank Prime Loan”; (b) if the above rate is not published in either H.15(519), H.15 Daily Update or another recognized electronic source for displaying such rate by 3:00 p.m., New York City time, on the relevant Interest Rate Determination Date, then the Issuer will determine the Prime Rate to be the average of the rates of interest publicly announced by each bank that appears on the Reuters screen designated as “USPRIME1” as that bank’s prime rate or base lending rate as in effect on such Interest Rate Determination Date; (c) if fewer than four rates appear on the Reuters screen USPRIME1 page on the relevant Interest Rate Determination Date, then the Prime Rate will be the average of the prime rates or base lending rates quoted, on the basis of the actual number of days in the year divided by a 360-day year, as of the close of business on such Interest Rate Determination Date by three major banks in New York City selected by the Issuer; or (d) if the banks selected by the Issuer are not quoting as mentioned above, the Prime Rate will remain the prime rate then in effect on such Interest Rate Determination Date.
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Bank Prime Loan. Rate posted by a majority of top 25 (by assets in domestic offices) insured U.S. -chartered commercial banks. Prime is one of several base rates used by banks to price short-term business loans. This is the same as "Prime Rate" and is published in Federal Reserve Statistical Release H.15.
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Examples of Bank Prime Loan in a sentence

  • If the Base Rate is the Prime Rate, the Base Rate that takes effect on any Interest Reset Date shall equal the rate, for the second Business Day immediately preceding such Interest Reset Date (the "Prime Interest Determination Date"), published in H.15(519) under the heading "Bank Prime Loan".

  • If an Interest Rate Basis for this Note is specified on the face hereto as the Prime Rate, the Prime Rate shall be determined as of the applicable Interest Determination Date (a "Prime Rate Interest Determination Date") as the rate on such date as such rate is published in H.15(519) under the heading "Bank Prime Loan".

  • Unless otherwise set forth on the face hereof, the "Prime Rate" means, with respect to any Interest Determination Date pertaining thereto, the prime rate or base lending rate on such date as published in H.15(519) by 3:00 P.M., New York City time, on the Calculation Date for that Interest Determination Date, under the caption "Bank Prime Loan" (or any other heading that is the then applicable heading established to describe such Index Maturity).

  • If the above rate is not published prior to 3:00 p.m., New York City time, on the Calculation Date, the Prime Rate will be the rate on that Interest Determination Date as published in H.15 Daily Update under the heading " Bank Prime Loan".

  • Though this has been beneficial to the consumers, it has not been of much help to the DISCOMs. With AT&C losses not showing much improvement, the continued trend of a steady tariff would not enable the DISCOMs to ensure increased repair and maintenance of an aged network and maintain quality supply.

  • The Prime Rate will be the rate made available and subsequently published on that date in H.15(519) under the heading ""Bank Prime Loan.'' The following procedures will be followed if the Prime Rate cannot be determined as described above.

  • Rate effective each July 1 is 2% below Bank Prime Loan Rate for March.

  • The Prime Rate shall equal the rate as of the Business Day prior to the Interest Reset Date (a "Prime Rate Interest Determination Date") that appears in H.15(519) under the heading "Bank Prime Loan" or any replacement heading on that service.

  • If the rate is not published in H.15(519) prior to 3:00 P.M., New York City time, on the Calculation Date, then the Prime Rate will be the rate on such Interest Determination Date as published in H.15 Daily Update opposite the caption "Bank Prime Loan".

  • If such rate is not published by 3:00 p.m., New York City time, on the Calculation Date pertaining to such Prime Rate Interest Determination Date, then the Prime Rate will be the rate on such Prime Rate Interest Determination Date as published in H.15 Daily Update under the heading "Bank Prime Loan" or any replacement heading on that service.


More Definitions of Bank Prime Loan

Bank Prime Loan shall have the meaning set forth in Section 12.8(h) hereof;
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Bank Prime Loan has the meaning assigned to that term in the definition of Base Rate.
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Bank Prime Loan means a Prime Loan bearing interest at the U.S. Bank Prime Rate.
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Related to Bank Prime Loan

  • Prime Loan means any Loan when and to the extent that the interest rate therefor is determined by reference to the Prime Rate.

  • Money Market Loan means a Money Market LIBOR Loan or a Money Market Absolute Rate Loan.

  • Canadian Prime Rate Loan means a Loan that bears interest based on the Canadian Prime Rate.

  • Domestic Rate Loan means any Advance that bears interest based upon the Alternate Base Rate.

  • Money Market LIBOR Loan means a loan to be made by a Bank pursuant to a LIBOR Auction (including such a loan bearing interest at the Base Rate pursuant to Section 8.01(a)).

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • Prime Rate Loan means any Loan bearing interest at a rate determined by reference to the Prime Rate in accordance with the provisions of Article II.

  • Canadian Prime Rate Loans means Loans for which the applicable rate of interest is based upon the Canadian Prime Rate.

  • Canadian Loan means a Loan made to a Canadian Borrower denominated in Canadian Dollars.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Alternative Currency Daily Rate Loan means a Loan that bears interest at a rate based on the definition of “Alternative Currency Daily Rate.” All Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.

  • Domestic Loans means CD Loans or Base Rate Loans or both.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Money Market Absolute Rate Loan means a loan to be made by a Bank pursuant to an Absolute Rate Auction.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Failed Bank Advances means the total sums paid by the Failed Bank to (i) protect its lien position, (ii) pay ad valorem taxes and hazard insurance, and (iii) pay credit life insurance, accident and health insurance, and vendor's single interest insurance.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • Mortgage Loan Borrower Related Party shall have the meaning assigned to such term in Section 13.

  • Originating Lender has the meaning specified therefor in Section 13.1(e) of the Agreement.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.