Canadian Prime Borrowing definition

Canadian Prime Borrowing means a Borrowing comprised of one or more Canadian Prime Loans.
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Canadian Prime Borrowing means a Borrowing comprised of one or more Canadian Prime Rate Loans.
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Canadian Prime Borrowing means a Borrowing of Canadian Prime Loans.
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Examples of Canadian Prime Borrowing in a sentence

  • If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Canadian Prime Borrowing (if denominated in Canadian Dollars) or a Base Rate Borrowing (if denominated in U.S. Dollars).

  • The Loans comprising each Canadian Prime Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 days or 366 days, as the case may be) at a rate per annum equal to the Canadian Prime Rate plus the Applicable Margin from time to time in effect.

  • The Loans comprising each Canadian Prime Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be) at a rate per annum equal to the Canadian Prime Rate plus (or, at any time when Adjusted Average Excess Availability is equal to or greater than 25%, minus) the Applicable Margin from time to time in effect.

  • Any Loan that is outstanding on the Effective Date under the Existing Credit Agreement that is comprised of a Canadian Prime Borrowing shall, as of the Effective Date, bear interest in accordance with Section 2.5(a) hereof.

  • At the time that each Canadian Prime Borrowing or Base Rate Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $500,000; provided that a Canadian Prime Borrowing or a Base Rate Borrowing may be in an aggregate amount that is required to finance the reimbursement of an LC Disbursement.

  • Additionally, in-situ meteorological wind direction data provided by JBNERR was analyzed over a year's time range, using recordings from July 2020 to July 2021, which is shown in Figure I2.

  • Swingline Loans shall bear interest at a rate per annum equal to the rate applicable to a Canadian Prime Borrowing (if in Canadian Dollars) or at a rate per annum equal to the rate applicable to a U.S. Base Rate Loan (if in U.S. Dollars), in each case, plus the Applicable Margin.

  • Any payment made by Lenders pursuant to this paragraph to reimburse any Issuing Bank for any LC Disbursement shall be deemed to constitute a Canadian Prime Borrowing or Base Rate Borrowing in the amount of the LC Disbursement and shall be payable upon demand.

  • If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing or a Canadian Prime Borrowing, as applicable.

  • Swingline Loans shall bear interest at a rate per annum equal to the rate applicable to a Canadian Prime Borrowing (if in Canadian Dollars) or at a rate per annum equal to the rate applicable to a Base Rate Loan (if in U.S. Dollars).


More Definitions of Canadian Prime Borrowing

Canadian Prime Borrowing means a Borrowing comprised of one or more Canadian Prime Rate Loans. “Canadian Prime Rate” means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum. “Canadian Prime Rate Loan” means a Loan denominated in Canadian Dollars which bears interest at a rate based upon the Canadian Prime Rate. “Canadian Reference Lender” means such bank that is listed on Schedule I of the Bank Act (Canada) that is selected by the Lenders by giving written notice thereof to the Borrowers. “CDOR” means with respect to a CDOR Loan, the rate per annum equal to the average per annum rate applicable to Canadian Dollar bankers’ acceptances having an identical or comparable term as the proposed CDOR Loan displayed and identified as such on the
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Canadian Prime Borrowing means a Borrowing comprised of one or more Canadian Prime Loans. “Canadian Prime Loan” means a Loan denominated in Canadian Dollars which bears interest at a rate based upon the Canadian Prime Rate. “Canadian Prime Rate” means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum. “Canadian Reference Lender” means Canadian Imperial Bank of Commerce, or such other bank listed on Schedule I of the Bank Act (Canada) as selected by the Lenders. “Capital Lease Obligation” of any Person means the obligation to pay rent or other payment amounts under a lease of (or other Indebtedness arrangements conveying the right to use) real or personal property of such Person which is required to be classified and accounted for as a capital lease on a balance sheet of such Person in accordance with GAAP. “CDOR” means, on any date, the annual rate of interest which is the rate based on an average rate applicable to Canadian Dollar bankers’ acceptances for the applicable Contract Period appearing on the CDOR Page of RBSL, rounded to the nearest 1/100th of 1% (with .005% being rounded up), at approximately 10:00 a.m. (Toronto time), on such date , or if such date is not a Business Day, then on the immediately preceding Business Day, plus 0.10%; provided that if such rate does not appear on the CDOR Page of RBSL on such date as contemplated, then CDOR on such date shall be calculated as the rate for the term referred to above applicable to Canadian Dollar bankers’ acceptances quoted by the Canadian Reference Lender as of 10:00 a.m. (Toronto time) on such date or, if such date is not a Business Day, then on the immediately preceding Business Day, plus 0.10%. If no CDOR is available for a particular Contract Period but CDOR is available for
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Related to Canadian Prime Borrowing

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Canadian Prime Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the Canadian Prime Rate.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Revolving Borrowing means a Borrowing comprised of Revolving Loans.

  • Term Borrowing means a borrowing consisting of Term Loans of the same Type and the same Class and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders of the applicable Class under this Agreement.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • Committed Borrowing means a borrowing consisting of simultaneous Committed Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • Swingline Borrowing means a Borrowing comprised of Swingline Loans.