U.S. Prime definition

U.S. Prime when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined in reference to the U.S. Prime Rate.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

U.S. Prime means the greater of (i) the prime lending rate per annum established by ▇▇▇▇▇▇ from time to time for commercial loans denominated in U.S. dollars made by Lender in Canada, and (ii) one percent per annum above Libor for a Libor Interest Period of one month, commencing on the date of determination.

U.S. Prime. Rate" in effect on any one day, means the rate of interest per annum that is the greater of (a) the rate of interest determined by Royal in its sole discretion as its US prime commercial lending rate for such day for US Dollar loans made in the United States, and (b) the annual rate of interest equal to the sum of the Federal Funds Effective Rate then in effect plus 1/2 of 1% per annum, in each case as adjusted from time to time without notice to the Borrower;

Examples of U.S. Prime in a sentence

The Index is the U.S. Prime Rate published in the “Money Rates” section of The Wall Street Journal on the last business day of the calendar month preceding the month in which the billing period begins.
The index will be the highest U.S. Prime Rate published in the Money Rates section of The Wall Street Journal on the first business day of each month.
If The Wall Street Journal does not publish the U.S. Prime Rate, or if it changes the definition of the U.S. Prime Rate, we may substitute another index, subject to applicable law.
Variable Rate Your APR(s) will vary with the market based on the Prime Rate, which is the highest rate of interest listed as the "US Prime Rate" in the "Money Rates" section of the Wall Street Journal.
No representation is made that the U.S. Prime Rate is the lowest, the best or the favored rate of interest.
The Prime Rate used to determine the APR on your Account is the U.S. Prime Rate published in The Wall Street Journal in its column called “Money Rates” on the last Business Day of each month.
Increases or decreases in the U.S. Prime Rate will cause increases or decreases in the APR, resulting in increases or decreases in the interest charge, which in turn will affect the number of monthly minimum payments that are required to repay the interest due.
Each date on which the rate of interest could change is called a "Change Date." Changes will be based on changes in the "Index." The Index is the highest U.S. Prime Rate published in the "Money Rates" section of The Wall Street Journal on the last business day of the calendar month prior to the month in which the Change Date occurs.
Failure by the Subscribing Reinsurer or Company to comply with their respective payment obligations within the time periods as herein provided shall, as of that date, be subject to an interest payment computed by multiplying the amount due by a variable rate consisting of the U.S. Prime Rate as published in the Eastern Edition of The Wall Street Journal on the first day of the calendar month in which the amount became past due, plus 2%.
In the event royalty payments or other fees are not received by Mount Sinai when due hereunder, Licensee shall pay to Mount Sinai interest charges that will accrue interest until paid at a rate equal to one (1) percentage point above the U.S. Prime Rate, as reported in the Wall Street Journal, Eastern Edition from time-to-time (or the maximum allowed by Law, if less), calculated on the number of days such payment is overdue.

More Definitions of U.S. Prime

U.S. Prime means the prime business rate of interest applicable to obligations outstanding in US Dollars as quoted from time to time by Bank of America (or its affiliates) or if the Bank of America (or its affiliates) shall no longer quote such a prime business rate of interest such other chartered bank in the United States of America as ▇▇▇▇▇▇▇▇ may decide, acting reasonably;

U.S. Prime means the rate of interest which Bank of America National Association charges on its loans to its commercial customers in New York.

U.S. Prime means a fluctuating rate equal to the rate of prime interest or base lending rate published from time to time in The Wall Street Journal. Lessor’s obligation to lease any Engine to Lessee is conditional upon receipt by Lessor, in form and substance satisfactory to Lessor, not later than two (2) days prior to the Delivery Date of the first Engine of:

U.S. Prime means such US$ lending rate as may form time to time be determined / published by the Lender;