Prime Tranche definition

Prime Tranche is defined in the definition of “Tranche”.
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Prime Tranche. Prime Tranche" means that portion of the outstanding ------------- Advances under the Revolving Credit Facility or the Term Loan which is not made up of LIBOR Tranches.
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Prime Tranche means a Tranche as to which Interest is calculated at, or by reference to, the Prime Rate.
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Examples of Prime Tranche in a sentence

  • During the pendency of a Termination Event, the Agent may reallocate any outstanding Investment of the Committed Purchasers to a Prime Tranche.

  • Any Investment of the Committed Purchasers not allocated to a Tranche Period shall be a Prime Tranche.

  • Any Investment not allocated to a Tranche Period shall be a Prime Tranche.

  • During the continuance of a Termination Event, the Agent may reallocate any outstanding Investment allocated to a Eurodollar Tranche to a Prime Tranche at the end of its then current Tranche Period.

  • Each request for an Advance shall specify (i) the requested date of disbursement (which shall be a Business Day), (ii) the amount of the requested Advance, (iii) whether the requested Advance will be included within the Prime Tranche or a LIBOR Tranche, and (iv) in the case of an Advance to be included within a LIBOR Tranche, the requested Interest Period.

  • During the pendency of a Termination Event or a Ratings Trigger Event, the Agent may reallocate any outstanding Investment of the Liquidity Providers to a Prime Tranche.

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  • Amounts outstanding under the Acquisition Note included within the Prime Tranche shall bear interest at a fluctuating rate per annum equal to the Prime Rate minus one quarter of one percent (1/4 of 1%), adjusted as of the date of each change therein.

  • During the pendency of a Termination Event, the applicable Purchaser Agent, upon notice to all other Purchaser Agents, may reallocate any outstanding Investment of the Related Bank Purchasers to a Prime Tranche.

  • Advances included within the Prime Tranche shall bear interest at a fluctuating rate per annum equal to the Prime Rate minus one quarter of one percent (1/4 of 1%), adjusted as of the date of each change therein.


More Definitions of Prime Tranche

Prime Tranche means a Tranche which accrues Discount based on the Prime Rate.
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Prime Tranche means, at any time, the portion of the Class B Certificate Principal Amount that is designated by NAFCO in accordance with the Certificate Purchase Agreement to accrue interest based on the Prime Rate. Any change in the interest rate resulting from a change in the Prime Rate announced by the Purchaser shall become effective without prior notice to NAFCO or the Administrator as of 12:01 A.M. (New York time) on the Business Day on which each change in the Prime Rate is announced by the Purchaser.
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Prime Tranche means when the Loan is accruing interest at the Prime Rate in accordance with the terms hereof.
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Related to Prime Tranche

  • Extended Tranche has the meaning specified in Section 2.19(a).

  • Loan Tranche The Series 2006-2 Class A2 Notes will fund the Series 2006-2 AAA (Class A2) Loan Tranche which shall have the following terms:

  • Single Tranche means the amount of the Financing allocated to the category entitled “Single Tranche” in the table set forth in Part B of Section II of Schedule 1 to this Agreement.

  • Existing Revolver Tranche has the meaning set forth in Section 2.16(b).

  • Existing Tranche has the meaning specified in Section 2.19(a).

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Existing Revolving Loans has the meaning specified in Section 2.7(a).

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

  • LIBOR Tranche means the collective reference to LIBOR Rate Loans whose Interest Periods begin and end on the same day.

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Incremental Revolving Facility has the meaning assigned to such term in Section 2.22(a).

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Incremental Revolving Loans has the meaning assigned to such term in Section 2.22(a).

  • Delayed Draw Commitment means, as to each Lender, its obligation to make Delayed Draw Loans to the Borrower pursuant to Section 2.01(b) in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name on Schedule 1.01(b) under the caption “Delayed Draw 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. The aggregate Delayed Draw Commitments of all of the Lenders on the Closing Date shall be $150,000,000.

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

  • Other Revolving Loans means the Revolving Loans made pursuant to any Other Revolving Commitment.

  • Second Tranche means the amount of the Financing allocated to the category entitled “Second Tranche” in the table set forth in Part B of Section II of Schedule 1 to this Agreement.

  • Total Revolving Commitment means, at any time, the sum of the Revolving Commitments at such time.

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Pending Revolving Loans means, at any time, the aggregate principal amount of all Revolving Loans requested in any Notice of Borrowing received by the Agent which have not yet been advanced.

  • New Revolving Loans as defined in Section 2.25.

  • First Tranche means the amount of the Financing allocated to the category entitled “First Tranche” in the table set forth in Part B of Schedule 1 to this Agreement.

  • Incremental Revolving Loan has the meaning set forth in Section 2.14(b).

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Extended Revolving Commitments has the meaning specified in Section 2.16(2).