Prime Interest Rate definition

Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

Prime Interest Rate is defined in Section 5.02(b).

Prime Interest Rate means the lesser of (i) the rate of interest per annum publicly announced from time to time by The Bank of New York Mellon Trust Company, N.A. as its “prime rate” in effect at its principal office in New York City (each change in the “prime rate” to be effective on the date such change is publicly announced), with the understanding that such bank’s “prime rate” may be one of several base rates, may serve as a basis upon which effective rates are from time to time calculated for loans making reference thereto, and may not be the lowest of such bank’s base rates, and (ii) the maximum rate of interest permitted under any applicable Legal Requirement.

Examples of Prime Interest Rate in a sentence

• If at any time, and to the extent that, the interest rate does exceed the legal maximum in terms of the National Credit Act; then the interest rate (being linked to the Prime Interest Rate) shall be reduced accordingly.

• The variable interest rate applicable to Equipment finance is linked to the Prime Interest Rate for the period of the Loan Agreement provided that it does not exceed the prescribed legal maximum in terms of the National Credit Act.

• Customer agrees to pay all debit balances and interest on debit balances at the rate of Prime Interest Rate + 2.00% for the entire period the debit shall exist.

• If the Prime Interest Rate is also used as a calculator in the formula for calculation, it may only be the average Prime Interest Rate for the rental term only.

• Part 13B-102 (Reserved)Part 13B-103 (Interest on assessments)Editor’s note: The interest rate on assessments for public improvements is set by the City Council for each assessment roll in light of Resolution 9753, which provides for a recommended interest rate to be the lesser of (i) the Prime Interest Rate published in The Wall Street Journal on the fourth Friday of May of each year, plus 4.25%, or (ii) 9%.

More Definitions of Prime Interest Rate

Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of the Credit Provider as being their prime rate and as certified by the auditors of the Credit Provider, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

Prime Interest Rate as used in this Guarantee shall mean the annual rate of interest announced from time to time by Royal Bank of Canada as a reference rate then in effect for determining interest rates on Canadian dollar commercial loans in Canada.

Prime Interest Rate means, as of a particular date, the prime rate of interest as published on that date in The Wall Street Journal, and generally defined therein as “the base rate on corporate loans posted by at least 75% of the nation’s 30 largest banks.” If The Wall Street Journal is not published on a date for which the interest rate must be determined, the prime interest rate shall be the prime rate published in The Wall Street Journal on the nearest-preceding date on which The Wall Street Journal was published. If The Wall Street Journal discontinues publishing a prime rate, the prime interest rate shall be the prime rate announced publicly from time to time by Bank of America, N.A. or its successor.

Prime Interest Rate means the prime rate of interest as published in the Wall Street Journal or its successor on the 1st day of the quarter.

Prime Interest Rate means the variable rate of interest most recently announced by NationsBank, N.A. as its "prime rate."

Prime Interest Rate means the prime rate of interest as published in the Wall Street Journal.

Prime Interest Rate means a rate per annum equal to the Prime Rate.