Canadian Prime Rate Loan definition

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

Canadian Prime Rate Loan means an Advance in, or Conversion into, Canadian Dollars made by the Lenders to the Borrower with respect to which the Borrower has specified or a provision hereof requires that interest is to be calculated by reference to the Canadian Prime Rate.

Canadian Prime Rate Loan means a Tranche B Loan denominated in Canadian Dollars that bears interest based on the Canadian Prime Rate.

Examples of Canadian Prime Rate Loan in a sentence

• Such interest shall accrue daily and shall be payable in arrears on each Interest Payment Date for such Loan for the period from and including the Drawdown Date or the preceding Conversion Date or Interest Payment Date, as the case may be, for such Loan to and including the day preceding such Interest Payment Date and shall be calculated on the principal amount of the Canadian Prime Rate Loan outstanding during such period and on the basis of the actual number of days elapsed in a year of 365 days.

• The Borrower shall pay interest on each Canadian Prime Rate Loan owing by it during each Interest Period applicable thereto in Canadian Dollars at a rate per annum equal to the Canadian Prime Rate in effect from time to time during such Interest Period plus the Applicable Pricing Rate.

• Upon the occurrence of an Event of Default in respect of the Borrower, the Agent on behalf of the Lenders may convert, at the Equivalent Amount, if applicable, a U.S. Base Rate Loan or Libor Loan owing by the Borrower, to a Canadian Prime Rate Loan.

• Interest shall accrue on each such Canadian Prime Rate Loan at the rate specified in Section 5.1 with interest on all overdue interest at the same rate, such interest to be calculated daily and payable on demand.

• Interest accrued on each Floating Rate Loan, each Canadian Prime Rate Loan and USD Swing Line Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, at maturity (whether by acceleration or otherwise) and, with respect to any USD Swing Line Loans on any date on which a USD Swing Line Loan is prepaid, whether due to acceleration or otherwise.

More Definitions of Canadian Prime Rate Loan

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

Canadian Prime Rate Loan means a Canadian Loan bearing interest at a fluctuating rate determined by reference to the Canadian Prime Rate.

Canadian Prime Rate Loan means a Swingline Loan denominated in Canadian Dollars.

Canadian Prime Rate Loan means a Canadian Revolving Loan, Canadian Swingline Loan or Canadian Agent Advance bearing interest at a rate determined by reference to the Canadian Prime Rate in accordance with the provisions of Article II.

Canadian Prime Rate Loan means a Canadian Revolving Loan that bears interest based on the Canadian Prime Rate. All Canadian Prime Rate Loans shall be denominated in Canadian Dollars.

Canadian Prime Rate Loan a Revolving Credit Loan available to a Canadian Revolving Credit Borrower, denominated in Canadian Dollars and bearing interest based on the Canadian Prime Rate as further set forth in subsection 2.14(b).

Canadian Prime Rate Loan means an Advance in Canadian Dollars which bears interest at a rate based on the Canadian Prime Rate.