Prime Borrowings definition

Prime Borrowings means those Borrowings which Borrower elects, pursuant to Section 2.2.1, to bear interest at a rate per annum determined by reference to the Prime Rate.
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Examples of Prime Borrowings in a sentence

  • All Protective Advances denominated in dollars (other than Protective Advances to the UK Borrower) shall be ABR Borrowings, all Protective Advances denominated in Canadian Dollars shall be Canadian Prime Borrowings and all Protective Advances denominated in Euros or Sterling and all Protective Advances to the UK Borrower denominated in dollars shall be Overnight LIBO Borrowings.

  • All Borrowings obtained on the Closing Date and for a period of three (3) Business Days thereafter shall be Prime Borrowings.

  • To the extent that, at any time, there are other Obligations besides Advances which are outstanding and unpaid, such Obligations shall, unless and except to the extent that this Agreement, any Note or any other Loan Document evidencing such Obligations provides otherwise, bear interest at the same rate per annum as is then and thereafter payable on Prime Borrowings under the Line of Credit.

  • The Applicable Rate on Prime Borrowings shall change with each change in the Prime Rate, effective as of the opening of business on the Business Day of such change.

  • All ---------------------------------------------------- Borrowings obtained on the Closing Date and for a period of two (2) Business Days thereafter shall be Prime Borrowings.

  • Any payment made by a Lender pursuant to this Section 2.19(5) to reimburse the Issuing Bank for any LC Disbursement (other than the funding of Canadian Prime Borrowings, Base Rate Borrowings, or Swingline Borrowings as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such LC Disbursement.

  • For the avoidance of doubt, this award of Restricted Stock shall not guarantee continued service for the length of all, or any portion of, the vesting schedule set forth in Section 3.

  • Any payment made by a Revolving Credit Lender pursuant to this paragraph to reimburse an Issuing Bank for any LC Disbursement (other than the funding of Canadian Prime Borrowings, Base Rate Borrowings, or Swingline Borrowings as contemplated above) shall not constitute a Loan and shall not relieve the applicable Borrower of its obligation to reimburse such LC Disbursement.

  • All Borrowings denominated in Canadian dollars shall be either Canadian Prime Borrowings or CDOR Borrowings.

  • Accrued interest on any Prime Borrowings at the Applicable Rate shall be due and payable monthly in arrears, on the first day of each calendar month, for the preceding calendar month (or portion thereof), commencing on the first day of the first calendar month following the Closing Date, and at maturity.

Related to Prime Borrowings

  • Borrowings means, at any time, the aggregate outstanding principal, capital or nominal amount (and any fixed or minimum premium payable on prepayment or redemption) of any indebtedness of members of the Group for or in respect of:

  • Total Borrowings means, in respect of the Company on a consolidated basis, as of a given date the aggregate of the following, without duplication:

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • ABR Loans Loans the rate of interest applicable to which is based upon the ABR.

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

  • Eurodollar Loans Loans the rate of interest applicable to which is based upon the Eurodollar Rate.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Prime Rate Loans means any Loans or portion thereof on which interest is payable based on the Prime Rate in accordance with the terms thereof.

  • Canadian Prime Rate Loans means any Canadian Dollar Revolving Loan during the period which it bears interest at a rate determined by reference to the Canadian Prime Rate.

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Swingline Loans as defined in Section 2.6.

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Canadian Revolving Loans means Revolving Loans made to the Canadian Borrower under Section 2.2, including Bankers’ Acceptance Advances.

  • Revolving Facility Loans shall include the Other Revolving Loans.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Advances of the same Type made by the Term A Lenders.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • New Revolving Loans as defined in Section 2.25.

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Eurocurrency Loans Loans the rate of interest applicable to which is based upon the Eurocurrency Rate.

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.