Prime Tranche definition

Prime Tranche is defined in the definition of “Tranche”.

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Prime Tranche. Prime Tranche" shall mean that portion of the ------------- outstanding Advances under the Revolving Credit Facility which is not made up of LIBOR Tranches.

Prime Tranche means a Tranche as to which Interest is calculated at, or by reference to, the Prime Rate.

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.
All Investment allocated to any such terminated Eurodollar Tranche shall be reallocated to a Prime Tranche.
Any Investment not allocated to a Tranche Period shall be a Prime Tranche.
All Investment allocated to any such terminated Eurodollar Tranche shall be reallocated to a Prime Tranche at the termination of the related Tranche Period.
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.
On the last day of each Tranche Period for a Eurodollar Tranche or Prime Tranche, the Collection Agent (or, if the Agent is then in control of any Collections, the Agent) shall pay Discount due and payable to such Liquidity Providers from accounts set aside for such purpose pursuant to Section 3.2(a).
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.
During the pendency of a Termination Event, the applicable Purchaser Agent may reallocate any outstanding Investment of the Related Bank Purchasers to a Prime Tranche.

More Definitions of Prime Tranche

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.

Prime Tranche means when the Loan is accruing interest at the Prime Rate in accordance with the terms hereof.

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.

Prime Tranche means a Tranche which accrues Discount based on the Prime Rate.