Prime Rate Transaction definition

Prime Rate Transaction means a Transaction at such time as the Pricing Rate therefor is equal to the Prime Rate.
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Prime Rate Transaction means, with respect to any Pricing Rate Period, any Transaction with respect to which the Pricing Rate for such Pricing Rate Period is determined with reference to the Prime Index Rate.
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Prime Rate Transaction means, with respect to any Pricing Rate Period, any Transaction with respect to which the Pricing Rate for such Pricing Rate Period is determined with reference to the Prime Index Rate.
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Examples of Prime Rate Transaction in a sentence

  • Notwithstanding any provision of this Agreement to the contrary, in no event shall Seller have the right to convert a LIBOR Transaction to a Prime Rate Transaction or an Alternate Rate Transaction.

  • Notwithstanding any provision of this Agreement to the contrary, in no event shall Seller have the right to elect to convert an Alternate Rate Transaction to a Prime Rate Transaction or a Prime Rate Transaction to an Alternate Rate Transaction.

  • Notwithstanding any provision of this Agreement to the contrary, in no event shall Seller have the right to convert a Prime Rate Transaction to a LIBOR Transaction or a LIBOR Transaction to a Prime Rate Transaction.

  • If such notice is given, such Alternate Rate Transaction shall be converted, as of the first day of the next Pricing Rate Period, to a Prime Rate Transaction.

  • If, pursuant to the terms of this Section 3(f)(iv), such Transaction has been converted to a Prime Rate Transaction and Buyer shall determine (which determination shall be conclusive and binding upon Seller absent manifest error) that the event(s) or circumstance(s) which resulted in such conversion shall no longer be applicable, Buyer shall give notice thereof to Seller (which may be by telephone or e-mail, followed promptly by written notice) prior to the next succeeding Pricing Rate Determination Date.

  • Subject to Section 3(f)(ii) hereof, if such notice is given, such Transaction shall be converted, as of the first day of the next succeeding Pricing Rate Period, to a Prime Rate Transaction bearing interest at the Prime Rate.

  • If such notice is given, each affected Transaction shall be converted automatically to a Prime Rate Transaction with its Pricing Rate determined with reference to the Prime Rate until such notice is withdrawn by Purchaser.

  • Subject to Section 3(f)(iii) hereof, if such notice is given, the Transaction shall be converted, as of the first day of the next succeeding Pricing Rate Period, at Buyer’s option (in Buyer’s sole and absolute discretion), to a Prime Rate Transaction bearing interest at the Prime Pricing Rate.