Prime Rate Amount definition

Prime Rate Amount means any portion of the Principal Balance bearing interest at the Prime Borrowing Rate.
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Prime Rate Amount means the principal amount of the Loans bearing interest at the Prime Rate in the event the LIBOR Rate cannot be determined by Lender pursuant to Section 2.5 hereof.
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Examples of Prime Rate Amount in a sentence

  • Any Fixed Rate Amount not continued as a Fixed Rate Amount in compliance with the foregoing requirements shall, after the end of the Interest Period, bear interest at the Adjusted Prime Rate, whether or not Borrower has elected to convert the Fixed Rate Amount to the Adjusted Prime Rate Amount.

  • Any oral notice shall be given by, and any written notice or confirmation of an oral notice shall be signed by, the person (s) authorized in Section 15 of this note, and shall specify the requested effective date of the rate, LIBOR Interest Period and LIBOR Amount, and whether Borrower is requesting a new Advance at the LIBOR Borrowing Rate under a line of credit, conversion of all or any portion of the Prime Rate Amount to a LIBOR Amount, or a new LIBOR Interest Period for an outstanding LIBOR Amount.

  • Borrower may request an Advance, conversion of any portion of the Prime Rate Amount to a LIBOR Amount or a new LIBOR Interest Period for an existing LIBOR Amount, at such rate only by giving Lender notice in accordance with Section 4(b)(iii) before 10:00 a.m. (Portland, Oregon time) on such day.

  • In addition, the Borrower may elect to convert any Prime Rate Amount into a LIBOR Rate Amount by giving at least three (3) London Banking Days prior written notice to the Agent, which notice shall specify the principal amount of the Loan to be converted into a LIBOR Rate Amount and the commencement date and duration of the proposed Interest Period.

  • Any such payment not received from the Borrower shall bear interest at the then applicable rate of interest accruing with respect to the Prime Rate Amount.

  • Borrower may request an Advance, conversion of any portion of the Prime Rate Amount to a LIBOR amount or a new LIBOR Interest Period for an existing LIBOR Amount, at such rate only by giving Lender notice in accordance with Section 4 ( c ) (iii) before 10:00 a.m. ( Portland, Oregon time) on such day.

  • In addition, Borrower may as of any designated Business Day, upon notice that is received by Lender not later than noon (Columbus, Ohio, local time) two (2) Business Days prior to such designated Business Day, convert an Adjusted Prime Rate Amount into a Fixed Rate Amount or continue a Fixed Rate Amount as a Fixed Rate Amount for a new Interest Period, provided, that Borrower may make such conversion or continuation only on the last day of the Interest Period.

Related to Prime Rate Amount

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • Canadian Prime Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum.

  • Prime Rate means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

  • U.S. Prime Rate means the per annum rate of interest announced by the Agent, at its main office from time to time as its "prime rate" (it being acknowledged that such announced rate may not necessarily be the lowest rate charged by the Agent to any of its customers), which U.S. Prime Rate shall change simultaneously with any change in such announced rate.