Examples of Prime Rate Loans in a sentence
The amount of any Reimbursement Obligation may, if the applicable conditions precedent specified in Article 7 hereof have been satisfied, be paid with the proceeds of Prime Rate Loans or, as provided in Section 2.5(j), by the proceeds of Refunding BA Instruments.
Subject to Section 3.08, each Borrowing shall be comprised entirely of Prime Rate Loans, Term SOFR Loans or Daily Simple SOFR Loans, as the Borrower may request in accordance herewith.
Loans which are Prime Rate Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Prime Rate plus the Applicable Margin.
All computations of interest for Prime Rate Loans when the Prime Rate is determined by the Lender’s prime lending rate shall be made on the basis of the year of 365 or 366 days, as the case may be, and the actual number of days elapsed.
All Outstanding Principal Obligations relating to Prime Rate Loans, BA Advances, Letters of Credit denominated in Canadian Dollars together with all interest and fees and other Obligations relating thereto shall accrue and be payable by the Borrower in Canadian Dollars.