Examples of Prime Rate in a sentence
In addition, if a nondefaulting Class B Member makes an additional Capital Contribution in respect of all or any portion of any amount in default, such additional amount shall be treated as a loan to the defaulting Member and shall bear interest from the date made until repayment in full at the Prime Rate plus [percentage interest rate margin]%.
Except as expressly provided to the contrary in this Agreement, any amount not paid when due pursuant to this Agreement (and any amounts billed or otherwise invoiced or demanded and properly payable that are not paid within thirty (30) days of such bill, invoice or other demand) shall accrue interest at a rate per annum equal to the Prime Rate plus one and one-half percent (1.5%) or the maximum rate permitted by Law, whichever is less.
If a Member fails to pay any amount required under this Article, the amount in default shall bear interest from the date of default until payment in full at an annual rate equal to the Prime Rate plus [percentage interest rate margin]%.
Amounts unpaid sixty (60) days after the invoice receipt date shall bear interest at the Bank of America Prime Rate plus 2%.
Interest on each Class B Member’s total Capital Contributions from time to time, at the Prime Rate plus [percentage interest rate margin]%, shall accrue and be paid monthly in arrears, as an expense of the Company.