Prime Rate Revolving Credit Loan definition

Prime Rate Revolving Credit Loan means each Borrowing of Prime Rate Loans under the Revolving Credit Facility on the same day, a specified principal amount of Prime Rate Loans outstanding under the Revolving Credit Facility, and any Non-Ratable Loan.
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Prime Rate Revolving Credit Loan means a Loan bearing interest at a simple per annum rate of interest equal to the Prime Rate PLUS the Applicable Margin.
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Examples of Prime Rate Revolving Credit Loan in a sentence

  • Not later than 1:00 p.m. on the proposed Borrowing date, each Lender will make available to the Agent, for the account of the Borrowers, at the Agent's Office in funds immediately available to the Agent, an amount equal to such Lender's Commitment Percentage of such Prime Rate Revolving Credit Loan or LIBOR Revolving Credit Loan, as the case may be.

  • The Borrower will, to the extent permitted by Applicable Law, pay interest on the unpaid principal amount of any Secured Obligation that is due and payable other than the Loans in accordance with SECTIONS 3.1(a) or (d), as applicable, as if such Secured Obligation were a Prime Rate Revolving Credit Loan.

  • Between Settlement Dates, the Agent shall request and NationsBank may (but shall not be obligated to) advance to the Borrower out of NationsBank's own funds, the entire principal amount of any Prime Rate Revolving Credit Loan requested or deemed requested pursuant to SECTION 2.2(a) (any such Loan being referred to as a NON-RATABLE LOAN).

  • The Borrowers will, to the extent permitted by Applicable Law, pay interest on the unpaid principal amount of any Secured Obligation that is due and payable, other than the Loans, in accordance with Sections 4.1(a) or (d), as applicable, as if such Secured Obligation were a Prime Rate Revolving Credit Loan.

  • The Borrowers will, to the extent permitted by Applicable Law, pay interest on the unpaid principal amount of any Secured Obligation that is due and payable, other than the Loans, in accordance with SECTIONS 4.1(a) or (d), as applicable, as if such Secured Obligation were a Prime Rate Revolving Credit Loan.

  • Unless the Agent has elected periodic settlements pursuant to SECTION 5.8, the Agent shall promptly notify the Lenders of any notice of borrowing given or deemed given pursuant to this SECTION 2.2(A) by 12:00 noon (Atlanta time) on the proposed borrowing date with respect to a Prime Rate Revolving Credit Loan or on the third Business Day prior to the proposed borrowing date with respect to a LIBOR Revolving Credit Loan.

  • The Borrowers will, to the extent permitted by applicable law, pay interest on the unpaid principal amount of any Secured Obligation that is due and payable, other than the Loans, in accordance with SECTIONS 5.1(A) or (D), as applicable, as if such Secured Obligation were a Prime Rate Revolving Credit Loan.

  • Not later than 1:30 p.m. on the proposed Borrowing date, each Lender will make available to the Agent, for the account of the Borrower, at the Agent's Office in funds immediately available to the Agent, an amount equal to such Lender's Commitment Percentage of such Prime Rate Revolving Credit Loan or Eurodollar Rate Revolving Credit Loan, as the case may be.

  • Between Settlement Dates, the Agent shall request and NationsBank may (but shall not be obligated to) advance to the Borrower out of NationsBank's own funds, the entire principal amount of any Prime Rate Revolving Credit Loan requested or deemed requested pursuant to SECTION 2.2(A) (any such Prime Rate Revolving Credit Loan being referred to as a "NON-RATABLE LOAN").

  • The Borrower will, to the extent permitted by Applicable Laws, pay interest on the unpaid principal amount of any Secured Obligation that is due and payable, other than the Loans, in accordance with Sections 5.1(a) or (d), as applicable, as if such Secured Obligation were a Prime Rate Revolving Credit Loan.

Related to Prime Rate Revolving Credit Loan

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Revolving Credit Loan has the meaning specified in Section 2.01(b).

  • Revolving Credit Loans as defined in Section 2.1.

  • Existing Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Other Revolving Credit Loans means one or more Classes of Revolving Credit Loans that result from a Refinancing Amendment.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Incremental Revolving Credit Loans shall have the meaning provided in Section 2.14(b).

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Revolving Credit Commitment Period the period from and including the Closing Date to the Revolving Credit Termination Date.

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).

  • Revolving Credit Period means the period from and including the Effective Date to but excluding the Termination Date.

  • Refinancing Revolving Credit Commitments shall have the meaning provided in Section 2.14(h).

  • U.S. Revolving Credit Commitment means, (a) with respect to each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(c) as such Lender’s “US Revolving Credit Commitment” and (b) in the case of any Lender that becomes a Lender after the Closing Date, the amount specified as such Lender’s “US Revolving Credit Commitment” in the Assignment and Acceptance pursuant to which such Lender assumed a portion of the US Total Revolving Credit Commitment, in each case of the same may be changed from time to time pursuant to terms hereof. The aggregate amount of the US Revolving Credit Commitment as of the Closing Date is $100,000,000.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Revolving Credit Commitment means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Total Revolving Credit Commitment means the sum of the Revolving Credit Commitments of all the Lenders.

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Revolving Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the Tranche B-1 Funding Date is $150,000,000.

  • Available Revolving Credit Commitment with respect to any Revolving Credit Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding.

  • Revolving Credit Commitment Percentage means, as to any Revolving Credit Lender at any time, the ratio of (a) the amount of the Revolving Credit Commitment of such Revolving Credit Lender to (b) the Revolving Credit Commitment of all the Revolving Credit Lenders.

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Total Revolving Credit Commitments at any time, the aggregate amount of the Revolving Credit Commitments then in effect.

  • Revolving Credit Commitments means the aggregate Revolving Credit Commitments of all of the Lenders.