Prime Rate Loan definition
Prime Rate Loan means the Loan at such time as interest thereon accrues at a rate of interest based upon the Prime Rate.
Prime Rate Loan means any Loan bearing interest at a rate determined by reference to the Prime Rate in accordance with the provisions of Article II.
Prime Rate Loan means any Loan in Canadian Dollars with respect to which interest is calculated under this Agreement for the time being on the basis of the Prime Rate.
Examples of Prime Rate Loan in a sentence
If such notice is given (x) any SOFR Loan requested to be made on the first day of such one-month Interest Period shall be made as a Prime Rate Loan, and (y) any outstanding SOFR Loan shall be converted, on the last day of the then-current one-month Interest Period, to a Prime Rate Loan.
Except as set forth in Section 2.2(b), any Term Loan or any portion thereof shall bear interest, on the outstanding daily balance thereof, at Borrower’s option, either (A) if such Term Loan or such portion thereof is a Prime Rate Loan, at the Prime-Based Rate or (B) if such Term Loan or such portion thereof is a SOFR Loan, at the SOFR-Based Rate.
More Definitions of Prime Rate Loan
Prime Rate Loan means any Loan which bears interest at a rate determined by reference to the Prime Rate.
Prime Rate Loan means each Loan bearing interest at the rate provided in section 2.7(a).
Prime Rate Loan means the portion of the Advances that bears interest at a rate determined by reference to the Prime Rate.
Prime Rate Loan means a Canadian dollar loan on which interest is calculated by reference to Prime Rate.
Prime Rate Loan means a Revolving Loan or portion of the Term Loan that bears interest based on the Prime Rate.
Prime Rate Loan means a Canadian Prime Rate Loan, a US Index Rate Loan, or a Domestic Prime Rate Loan, as the context may require.
Prime Rate Loan means any portion of the outstanding principal amount of the Loan that is bearing interest at the Adjusted Prime Rate.