Examples of Prime Rate Advance in a sentence
Each Lender shall forthwith give notice of the making of such a Prime Rate Advance to the Borrower and the Agent (which shall promptly give similar notice to the other Lenders).
Each Prime Rate Advance shall be in an aggregate minimum amount of Cdn.
The Borrower shall pay interest on (i) each LIBO Rate Advance at a rate per annum equal to the LIBO Rate plus the Applicable Margin; and (ii) each Prime Rate Advance at a rate per annum equal to the Prime Rate plus the Applicable Margin.
Notwithstanding Section 3.10(8) and subject to Section 9.2, if a Default or Event of Default has occurred and is continuing on the last day of a Contract Period, as regards an Advance by means of a Bankers’ Acceptance (or B/A Equivalent Loan), the Borrower shall be deemed to have converted such Advance into a Prime Rate Advance in an amount equal to the face amount of the Bankers’ Acceptances (or the undiscounted amount of any B/A Equivalent Loans) on the maturity date thereof.