Prime Rate Advances definition

Prime Rate Advances means any Advances made or a portion thereof on which interest is payable based on the Prime Rate in accordance with the terms hereof.

Prime Rate Advances means Advances that bear interest at rates based upon the Prime Rate.

Prime Rate Advances means an ADVANCE, the interest rate on which is calculated by reference to the PRIME RATE.

Examples of Prime Rate Advances in a sentence

• Each change in the interest rate of the Prime Rate Advances based on changes in the Prime Rate shall be effective on the effective date of such change and to the extent of such change.

• Interest shall be payable on such Prime Rate Advances in accordance with the terms applicable to Prime Rate Advances.

• Bank shall use its best efforts to give Borrower prompt notice of any such change in the Prime Rate; provided, however, that any failure by Bank to provide Borrower with notice hereunder shall not affect Bank’s right to make changes in the interest rate of the Prime Rate Advances based on changes in the Prime Rate.

• Such request shall specify the amount of the Prime Rate Advances which will constitute LIBOR Rate Advances (subject to the limits set forth below) and the Interest Period to be applicable to such LIBOR Rate Advances.

• Borrowings in CAD may take the form of Prime Rate Advances, Bankers’ Acceptances (BAs), and letters of credit, with interest calculated at the Prime Rate or prevailing Government BA fee.

More Definitions of Prime Rate Advances

Prime Rate Advances. Each Prime Rate Advance shall be in an amount not less than Twenty Five Thousand Dollars ($25,000). The outstanding principal balance of each Prime Rate Receivables Advance shall bear interest (computed daily on the basis of a 360 day year and actual days elapsed), at a rate per annum equal to the Prime Rate. Borrower shall pay the entire outstanding principal amount of each Prime Rate Advance on the Maturity Date.

Prime Rate Advances means an Advance which has interest at Prime Rate.

Prime Rate Advances means Advances which bear interest with reference to the Prime Rate as a Rate Index.

Prime Rate Advances means any and all portions of the principal balance of this Note which bear interest based on the Prime Rate. This Note shall be payable as follows:

Prime Rate Advances means Advances bearing interest calculated on the basis of the Prime Rate.

Prime Rate Advances means Advances bearing interest, on the outstanding daily balance thereof, at a rate equal to the Prime Rate

Prime Rate Advances. $__________ LIBOR Rate Advances: $__________ Unused Commitment Fee: $__________