Prime-based Rate definition
Prime-based Rate means, for any day, that rate of interest which is equal to the greater of (i) the Prime Rate, and (ii) the Alternate Base Rate.
Prime-based Rate means, for any day, that rate of interest which is equal to the sum of the Applicable Margin plus the greater of (i) the Prime Rate, and (ii) the Alternate Base Rate.
Prime-based Rate means any variable rate at which interest may accrue on all or a portion of the Loan under the terms of this Agreement, which rate is determined by reference to the Prime Rate.
Examples of Prime-based Rate in a sentence
Except as set forth in Section 2.2(b), any Loan or any portion thereof shall bear interest, on the outstanding daily balance thereof, at the Prime-Based Rate.
Except as set forth in Section 2.2(b), any Term Loan or any portion thereof shall bear interest, on the outstanding daily balance thereof, at Borrower’s option, either (A) if such Term Loan or such portion thereof is a Prime Rate Loan, at the Prime-Based Rate or (B) if such Term Loan or such portion thereof is a SOFR Loan, at the SOFR-Based Rate.
More Definitions of Prime-based Rate
Prime-based Rate means a per annum interest rate equal to the Prime Rate.
Prime-based Rate means a per annum interest rate which is equal to the greater of (a) the Prime Rate, or (b) the rate of interest equal to the sum of one-percent (1%) plus the rate of interest equal to the average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers (the "Overnight Rates"), as published by the Federal Reserve Bank of New York, or, if the Overnight Rates are not so published for any day, the average of the quotations for the Overnight Rates received by Bank from three (3) Federal funds brokers of recognized standing selected by Bank, as the same may be changed from time to time.
Prime-based Rate means, for any day, that rate of interest which is equal to the greater of (i) the Prime Rate, or (ii) the Alternate Base Rate.
Prime-based Rate means the Prime Rate minus 150 basis points.
Prime-based Rate means a floating and fluctuating per annum rate of interest equal at all times to the sum of the Prime Rate plus one percent (1%).
Prime-based Rate means (i) with respect to any Advances in Dollars, the U.S. Prime-based Rate and (ii) with respect to Swing Line Advances in Canadian Dollars to CAC Canada, the Canadian Prime-based Rate.
Prime-based Rate means a per annum interest rate which is equal to the greater of (i) the Prime Rate; or (ii) the rate of interest equal to the sum of (a) one percent (1%) and (b) the rate of interest equal to the average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers (the "Overnight Rates"), as published by the Federal Reserve Bank of New York, or, if the overnight Rates are not so published for any day, the average of the quotations for the Overnight Rates received by Bank from three (3) Federal funds brokers of recognized standing selected by Bank, as the same may be changed from time to time. Effect shall be given to any change in the Prime-based Rate as a result of any change in the Prime Rate or Overnight Rates on the date of any such change in the Prime Rate or Overnight Rates, as applicable.