Effective Prime definition

Effective Prime means the Prime Rate plus the Applicable Margin for Prime --------------- Rate Loans.
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Effective Prime means the Prime Rate plus three-quarters of one percent (.75%) per annum; provided, however, that if, at any time on or after the receipt by the Agent of the quarterly financial statements for the Borrower's March 31, 1998 fiscal quarter and each subsequent Borrower fiscal quarter provided to the Agent by the Borrower pursuant to SECTION 5.3.3 hereof, the ratio of (a) total Indebtedness for Borrowed Money of the Borrower and its Subsidiaries on a consolidated basis as of the last day of the most recently ended fiscal quarter of the Borrower to (b) Adjusted EBITDA for such fiscal quarter and for the three immediately preceding Borrower fiscal quarters, (i) is less than 2.0:1.0, but greater than or equal to 1.50:1.0 and if and so long as no Event of Default or Default exists and is continuing, Effective Prime shall, subject to the next-to-last sentence of this definition, be the Prime Rate plus one-half of one percent (.50%) per annum, or (ii) is less than 1.50:1.0, but greater than or equal to 1.0:1.0 and if and so long as no Event of Default or Default exists and is continuing, Effective Prime shall, subject to the next-to-last sentence of this definition, be the Prime Rate plus one-quarter of one percent (.25%) per annum, or (iii) is less than 1.0:1.0, and if and so long as no Event of Default or Default exists and is continuing, Effective Prime shall, subject to the next-to-last sentence of this definition, be the Prime Rate per annum; provided, further, however, that if on any date the Borrower would be entitled to an Effective Prime other than the Prime Rate plus .75% except for the fact that a Default exists, the Effective Prime shall not change until the first to occur of (a) such Default becoming an Event of Default and (b) waiver or cure of such Default, at which time the Effective Prime shall be adjusted or remain the same in accordance with the provisions of this definition preceding this further proviso. Any change in Effective Prime required pursuant to the foregoing shall become effective on the fifth Business Day after the Agent receives the Borrower's financial statement for the
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Effective Prime means the Prime Rate plus the Applicable Margin.
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Examples of Effective Prime in a sentence

  • In the event no Interest Rate Election has been made by the Borrower with respect to any Loan or Advance (or an Interest Rate Election shall have expired without an effective substitute Interest Rate Election), Effective Prime shall be the rate applicable to such Loan or Advance.

  • Any advance bearing interest at the Effective Prime Rate shall be referred to herein as a “Prime Rate Loan”.

  • Until paid, all amounts due and payable by the Company hereunder shall be a debt secured by the Collateral and shall bear, whether before or after judgment, interest at a rate of two percent (2%) above Effective Prime.

  • During the period referenced in the foregoing sentence, the component of LIBOR Rate or LIBOR Index Rate based upon the Benchmark will not be used in any determination of Effective Prime Rate.

  • Upon the occurrence and during the continuance of any Event of Default, each Prime Rate Loan shall bear interest, payable on demand, at a floating interest rate per annum equal to two percent (2.0%) above Effective Prime and each Libor Loan shall bear interest at the Libor Rate plus two percent (2.0%).

  • The undersigned hereby elects, pursuant to the Loan Agreement, that the [Libor Rate or Effective Prime] shall be the interest rate applicable to that certain [outstanding] Loan [requested pursuant to the Request attached hereto in the principal amount of _____________ and no/100 Dollars ($__________ ).

  • Upon the occurrence and during the continuance of any Event of Default each Prime Rate Loan evidenced by this Note shall bear interest, payable on demand, at a floating interest rate per annum equal to two percent (2.0%) above Effective Prime and each Libor Loan evidenced by this Note shall bear interest at the Libor Rate plus two percent (2.0%).

  • If at any time Agent makes a determination under Section 3.3(a) and the Company has previously notified Agent of its selection of, conversion to or renewal of a LIBOR Option or LIBOR Index Option and such Interest Rate Option has not yet gone into effect, such notification shall be deemed to provide for selection of, conversion to or renewal of the Effective Prime Rate with respect to such Loans.

  • Thereafter, once Effective Prime become applicable, Effective Prime must remain in effect for a minimum of 30 days, and once a Fixed Rate becomes applicable, such Fixed Rate must remain in effect for the applicable Fixed Rate Term.

  • In the event no Interest Rate Election has been made by Borrower with respect to any Loan or Advance (or an Interest Rate Election shall have expired without an effective substitute Interest Rate Election), Effective Prime shall be the rate applicable to such Loan or Advance.


More Definitions of Effective Prime

Effective Prime means for any Interest Period, the Prime Rate in effect on the first day of such Interest Period, plus the Applicable Margin for Prime Rate Loans from time to time in effect.
Sample 1Sample 2
Effective Prime means the Prime Rate.
Sample 1
Effective Prime means the Prime Rate plus one percent (1.0%) per --------------- annum; provided, however, that if, at any time on or after the receipt by the Agent of the quarterly financial statements for the Borrower's March 31, 1996 fiscal quarter and each subsequent Borrower fiscal quarter provided to the Agent by the Borrower pursuant to Section 5.3.3 hereof, the ratio of (a) total ------------- Indebtedness for Borrowed Money of the Borrower and its Subsidiaries on a consolidated basis as of the last day of the most recently ended fiscal quarter of the Borrower to (b) EBITDA for such fiscal quarter and for the three immediately preceding Borrower fiscal quarters, (i) is less than 2.75:1.0, but greater than or equal to 2.25:1.0 and if and so long as no Event of Default or Default exists and is continuing, Effective Prime shall, subject to the last sentence of this definition, be the Prime Rate plus three quarters of one percent (.75%), or (ii) is less than 2.25:1.0, but greater than or equal to 1.75:1.0 and if and so long as no Event of Default or Default exists and is continuing, Effective Prime shall, subject to the last sentence of this definition, be the Prime Rate plus one half of one percent (.50%), or (iii) is less than 1.75:1.0, but greater than or equal to 1.25:1.0 and if and so long as no Event of Default or Default exists and is continuing, Effective Prime shall, subject to the last sentence of this definition, be the Prime Rate plus one quarter of one percent (.25%), or (iv) is less than 1.25:1.0 and if and so long as no Event of Default or Default exists and is continuing, Effective Prime shall, subject to the next-to-last sentence of this definition, be the Prime Rate; provided, further, however, that if on any date the Borrower would be entitled to an Effective Prime other than the Prime Rate plus 1.0% except for the fact that a Default exists, the Effective Prime shall not change until the first to occur of (a) such Default becoming an Event of Default and (b) waiver or cure of such Default, at which time the Effective Prime shall be adjusted or remain the same in accordance with the provisions of this definition preceding this further proviso. Borrower shall pay any amount due as a result thereof upon written demand from the Agent. The Agent shall send the Borrower written acknowledgement of each change in the Effective Prime in accordance with the Agent's customary procedures as in effect from time to time.
Sample 1
Effective Prime means the Prime Rate plus three quarters percent (.75%) per annum; provided, however, that if, at any time on or after the receipt by the Agent of the Borrower's annual audited financial statements for the Borrower's December 31, 1999 fiscal year and of the Borrower's quarterly financial statements for each subsequent Borrower fiscal quarter provided to the Agent by the Borrower pursuant to Sections 5.3.2 or 5.3.3 hereof, the ratio of (a) total Indebtedness for Borrowed Money of the Borrower and its Subsidiaries on a consolidated basis as of the last day of the most recently ended fiscal quarter of the Borrower to (b) EBITDA for such fiscal quarter and for the three immediately preceding Borrower fiscal quarters, (i) is less than 2.5:1.0, but greater than or equal to 2.0:1.0 and if and so long as no Event of Default or Default exists and is continuing, Effective Prime shall, subject to the last sentence of this definition, be the Prime Rate plus one-half percent (.50%), or (ii) is less than 2.0:1.0, but greater than or equal to 1.0:1.0 and if and so long as no Event of Default or Default exists and is continuing, Effective
Sample 1
Effective Prime means the Prime Rate plus one-half percent (.50%); provided, however, that if, at the end of any calendar quarter commencing September 30, 1997, the average of the actual daily outstanding principal balances of the Revolving Credit Loans for the quarterly period just ended is (i) greater than or equal to $7,500,000 but less than $11,250,000, and if and so long as no Event of Default or Default exists and is continuing, Effective Prime shall be the Prime Rate plus one-quarter percent (.25%), or (ii) less than $7,500,000, and if and so long as no Event of Default or Default exists and is continuing, Effective Prime shall be the Prime Rate, provided further, however, that if on any date the Borrower would be entitled to an Effective Prime of the Prime Rate plus a percent lower than .50% except for the fact that a Default exists, Effective Prime shall not change until the first to occur of (a) such Default becoming an Event of Default and (b) waiver or cure of such Default, at which time Effective Prime shall be adjusted or remain the same in accordance with the provisions of this definition preceding this further proviso. The Agent shall send the Borrower written acknowledgment of each change in Effective Prime in accordance with the Agent's customary procedures as in effect from time to time, but the failure to send such acknowledgment shall have no effect on the effectiveness or applicability of the foregoing provisions of this definition or Borrower's obligations with respect to payment and calculation of interest on Prime Rate Loans.
Sample 1
Effective Prime means the Prime Rate plus two percent (2.0%) per annum until the close of business on June 30, 2000 and thereafter means the Prime Rate plus four percent (4.0%) per annum."
Sample 1

Related to Effective Prime

  • Effective Price of Additional Shares of Common Stock shall mean the quotient determined by dividing the total number of Additional Shares of Common Stock issued or sold, or deemed to have been issued or sold by the Company under this Section 4F, into the aggregate consideration received, or deemed to have been received, by the Company for such issue under this Section 4F, for such Additional Shares of Common Stock.

  • Effective TBD means that the date is to be determined by further Commission action. A date listed as "anticipated effective" may be subject to change. An Advice Letter Supplement is not a new filing, and there is no protest period unless indicated.

  • Effective dose equivalent (HE), means the sum of the products of the dose equivalent to each organ or tissue (HT), and the weighting factor (wT,) applicable to each of the body organs or tissues that are irradiated.

  • Applicable ABR Margin means, at any date:

  • Total effective dose equivalent (TEDE) means the sum of the deep dose equivalent for external exposures and the committed effective dose equivalent for internal exposures.

  • Applicable Eurodollar Margin means, as at any date of determination, the rate per annum then applicable to Eurodollar Rate Loans determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin I 52.50 II 62.50 III 72.50 IV 82.50 V 92.50

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Designated Eurodollar Market means, with respect to any Eurodollar Rate Loan, the London Eurodollar Market.

  • Applicable Eurocurrency Margin means, as at any date of determination, the rate per annum then applicable to Eurocurrency Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Pledge Percentage means 100%, but 65% in the case of a pledge of capital stock of a Foreign Subsidiary to the extent a 100% pledge would cause a Deemed Dividend Problem or a Financial Assistance Problem.

  • Applicable Revolver LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Adjusted Eurodollar Rate means for any Interest Period with respect to any Eurodollar Loan, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to (a) the Eurodollar Rate for such Interest Period multiplied by (b) the Statutory Reserves.

  • Effective dose equivalent (HE means the sum of the products of the dose equivalent to each organ or tissue (HT) and the weighting factor (wT) applicable to each of the body organs or tissues that are irradiated (HE = Σ wTHT).

  • Original Applicable Credit Support Percentage With respect to each Class of Subordinate Certificates, the corresponding percentage set forth opposite its Class designation: Class B-1 - 3.10%; Class B-2 - 2.05%; Class B-3 - 1.25%; Class B-4 - 0.80%; Class B-5 - 0.55%; and Class B-6 - 0.35%.

  • Incremental Effective Date has the meaning specified in Section 2.15(c).

  • Applicable Spread means, in connection with the Maximum Rate for any Rate Period (and subject to adjustment as described in the definition of Maximum Rate) (i) when there is not a Failed Remarketing Condition, 200 basis points (2.00%), and (ii) while a Failed Remarketing Condition has occurred or is continuing, 200 basis points (2.00%) (up to 59 days of a continued Failed Remarketing Condition), 225 basis points (2.25%) (sixty (60) days but fewer than ninety (90) days of a continued Failed Remarketing Condition), 250 basis points (2.50%) (ninety (90) days but fewer than 120 days of a continued Failed Remarketing Condition), 275 basis points (2.75%) (120 days but fewer than 150 days of a continued Failed Remarketing Condition), 300 basis points (3.00%) (150 days but fewer than 180 days of a continued Failed Remarketing Condition), and 400 basis points (4.00%) (180 days or more of a continued Failed Remarketing Condition); provided that, if at any time when the Applicable Spread is 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) and the Failed Remarketing Condition no longer exists due to the successful remarketing of all Purchased VRDP Shares, then such Applicable Spread of 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) will continue to be the Applicable Spread in connection with determining the Maximum Rate in effect for each Rate Period commencing with the first Subsequent Rate Period after the Failed Remarketing Condition no longer exists through and including the first Subsequent Rate Period ending on or after the 45th day after the day the Failed Remarketing Condition no longer exists; provided, further, that (i) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 225 basis points (2.25%), the date such new Failed Remarketing Condition occurs will be deemed to be the 60th day of a continued Failed Remarketing Condition, (ii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 250 basis points (2.50%), the date such new Failed Remarketing Condition occurs will be deemed to be the 90th day of a continued Failed Remarketing Condition, (iii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 275 basis points (2.75%), the date such new Failed Remarketing Condition occurs will be deemed to be the 120th day of a continued Failed Remarketing Condition, (iv) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 300 basis points (3.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 150th day of a continued Failed Remarketing Condition and (v) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 400 basis points (4.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 180th day of a continued Failed Remarketing Condition, in each case, solely for purposes of determining the Applicable Spread.

  • Effective FTR Holder means:

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Applicable Credit Rating For any long-term deposit or security, a credit rating of "AAA" in the case of S&P or "Aaa" in the case of Xxxxx'x. For any short-term deposit or security, a rating of "A-l+" in the case of S&P or "P-1" in the case of Xxxxx'x.

  • Applicable LIBOR Margin means a per annum rate of interest payable in addition to the LIBOR Rate on LIBOR Rate Loans, determined by reference to Section 1.6.

  • Increased Facility Activation Notice means a notice substantially in the form of Exhibit E.

  • Utilization plan means a form and additional

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Eurodollar Rate Reserve Percentage for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.