U.S. Prime Rate definition

U.S. Prime Rate means the rate from time to time publicly announced by Reference Bank, or its successors, as its prime rate, whether or not such announced rate is the best rate available at such bank.

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U.S. Prime Rate means the rate of interest announced by the Agent from time to time as its prime rate. Such rate is set by the Agent on the basis of various factors, including its costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above or below such rate. Any change in such rate announced by the Agent shall take effect at the opening of business on the day specified in the public announcement of such change.

U.S. Prime Rate the rate of interest announced by Bank of America from time to time as its prime rate. Such rate is set by Bank of America on the basis of various factors, including its costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above or below such rate. Any change in such rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change. In no event shall the US Prime Rate be less than zero.

Examples of U.S. Prime Rate in a sentence

• Such request from Borrower shall be sent to the Administrative Agent and shall specify the amount of the SOFR Loans or the amount of the US Prime Rate Loans to be converted to SOFR Loans or the amount of the SOFR Loans to be continued (subject to the limits set forth below) and the Interest Period to be applicable to such SOFR Loans.

• Subject to the terms and conditions contained herein, one (1) Business Day after receipt by Administrative Agent of such request from Borrower such US Prime Rate Loan shall be made or such SOFR Loan shall be converted to US Prime Rate Loans.

• Such request from Borrower shall be sent to the Administrative Agent and specify the amount of the US Prime Rate Loans or the amount of the SOFR Loans to be converted to US Prime Rate Loans.

• Swingline Loans made pursuant to Section 2.5(f) shall be repaid on request by Swingline Lender made to Administrative Agent who in turn will request an advance from the Lenders in the same amount which shall constitute a Canadian Prime Rate Loan, Daily Compounded ▇▇▇▇▇ Loan, US Prime Rate Loan or Daily Simple SOFR Loan, as the case may be.

• If an Event of Default has occurred and is continuing, any SOFR Loans shall, at Lender’s option, upon notice by such Lender to the Borrower, be subsequently converted to US Prime Rate Loans.

More Definitions of U.S. Prime Rate

U.S. Prime Rate means the rate of interest published by The Wall Street Journal (eastern edition), from time to time, as the “U.S. Prime Rate”.

U.S. Prime Rate means a fluctuating rate of interest per annum, expressed on the basis of a year of 365 days or 366 days, as applicable, which is equal at all times to the greater of (a) the reference rate of interest (however designated) of the Agent for determining interest chargeable by it on United States Dollar commercial loans in the United States and (b) the sum of (i) the Federal Funds Effective Rate and (ii) [PERCENTAGE REDACTED] per annum.

U.S. Prime Rate means the rate of interest per annum determined by the Administrative Agent from time to time as its prime commercial lending rate for United States Dollar loans in the United States for such day. The Prime Rate is not necessarily the lowest rate that the Administrative Agent is charging any corporate customer.

U.S. Prime Rate the rate of interest per annum publicly announced from time to time by the General Administrative Agent as its prime rate in effect at its principal office in New York City. The U.S. Prime Rate is not intended to be the lowest rate of interest charged by the General Administrative Agent in connection with extensions of credit to borrowers.

U.S. Prime Rate means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

U.S. Prime Rate means the per annum rate of interest announced by the Agent, at its main office from time to time as its "prime rate" (it being acknowledged that such announced rate may not necessarily be the lowest rate charged by the Agent to any of its customers), which U.S. Prime Rate shall change simultaneously with any change in such announced rate.

U.S. Prime Rate means the per annum rate of interest established from time to time by the Administrative Agent at its principal office in Charlotte, North Carolina (or such other principal office of the Administrative Agent as communicated in writing to the Borrowers and the Lenders) as its Prime Rate. Any change in the interest rate resulting from a change in the U.S. Prime Rate shall become effective as of 12:01 a.m. of the Business Day on which each change in the U.S. Prime Rate is announced by the Administrative Agent. The U.S. Prime Rate is a reference rate used by the Administrative Agent in determining interest rates on certain loans and is not intended to be the lowest rate of interest charged on any extension of credit to any debtor.