Prime Plus Rate definition

Prime Plus Rate means (a) a rate which is two percent (2%) above the annual rate of interest published daily in The Wall Street Journal as the “Prime Rate (base rate on corporate loans posted by at least 75% of the nation’s 30 largest banks)” or if such publication or reference is no longer published, (a) such other comparable interest rate index selected by the General Partner that is readily available to the public and verifiable by the Limited Partners but is beyond the control of the General Partner (adjusted from time to time to reflect any changes in such rate determined hereunder) or (b) the maximum rate from time to time permitted by applicable law.
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Prime Plus Rate means a rate per annum which equal to the lesser of (a) a rate which is five percent (5%) above the annual rate of interest published daily in The Wall Street Journal as the “Prime Rate (base rate on corporate loans posted by at least 75% of the nation’s 30 largest banks)” or
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Prime Plus Rate means a rate per annum which equal to the lesser of (a) a rate which is five percent (5%) above the annual rate of interest published daily in The Wall Street Journal as the “Prime Rate (base rate on corporate loans posted by at least 75% of the nation’s 30 largest banks)” or (b) the maximum rate from time to time permitted by applicable Law.
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Examples of Prime Plus Rate in a sentence

  • In the event any Partner fails to pay its share of a Capital Contribution called for under any provision of this Article 4 on the date on which such Capital Contribution is due, such unpaid Capital Contributions shall automatically accrue interest from the date due at the Prime Plus Rate (which interest, once paid, shall not increase the Capital Account of such Partner).

  • All computations of interest at the Prime Plus Rate shall be made on the basis of a year of 365 days for the actual number of days elapsed in each calendar month for which interest is being calculated.

  • During the Term, interest on the unpaid principal balance of this Note shall accrue at the Prime Plus Rate (as defined below).

  • In the event any Member agrees to make a Capital Contribution to the Company (a “Required Capital Contribution”) but fails to pay its share of such Required Capital Contribution on the date on which such Capital Contribution is due, such unpaid Required Capital Contribution shall automatically accrue interest from the date due at the Prime Plus Rate (which interest, once paid, shall not increase the Capital Account of such Member).

  • If any such liens so attach and Tenant fails to fulfill the requirements of (i) or (ii) above, then Landlord, at its election, may pay and satisfy the same, and in such event the sums so paid by Landlord, with interest from the date of payment at the Prime Plus Rate shall be deemed to be additional rent due and payable by Tenant immediately upon written notice from Landlord.

  • In the event Tenant has overpaid either the Tax Adjustment or Expense Adjustment by 2% or more, Tenant shall receive interest (at the Prime Plus Rate) on such overpayment from the date paid until the date refunded.


More Definitions of Prime Plus Rate

Prime Plus Rate means a rate per annum which is equal to the lesser of (a) a rate which is two percent (2%) above the prime rate of interest of The Chase Manhattan Bank, N.A., or its successor, as announced or published by such bank from time to time (adjusted from time to time to reflect any changes in such rate determined hereunder) or (b) the maximum rate from time to time permitted by applicable law.
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Related to Prime Plus Rate

  • CMS Rate means the applicable swap rate for swap transactions in the Reference Currency with a maturity of the Designated Maturity, expressed as a percentage, which appears on the Relevant Screen Page as at the Specified Time on the relevant Interest Determination Date in question, all as determined by the Calculation Agent.

  • Applicable LIBOR Rate means, (a) for Auction Periods of 35 days or less, One-Month LIBOR, (b) for Auction Periods of more than 35 days but less than 91 days, Three-Month LIBOR, (c) for Auction Periods of more than 90 days but less than 181 days, Six-Month LIBOR, and (d) for Auction Periods of more than 180 days, One-Year LIBOR.

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by ▇▇▇▇▇ Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • U.S. Base Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by a commercial Canadian bank selected by the Lender and in effect as its base rate at its principal office in Toronto, Ontario on such day for determining interest rates on Dollar demand commercial loans in Canada, and (b) the sum of the Federal Funds (Effective) Rate plus 0.50% per annum.

  • Daily LIBOR Rate means, for any day, the rate per annum determined by the Agent by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the Reserve Percentage.