Prime Commercial Lending Rate definition

Prime Commercial Lending Rate means the rate of interest most recently published in the Money Rate Table of the Wall Street Journal as the prime annual rate of interest.
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Prime Commercial Lending Rate means the rate of interest most recently published from time to time in the Money Rate Table of The Wall Street Journal as the prime annual rate of interest, or such other successor or alternative publication or table as the Parties may mutually agree if this publication ceases to exist.
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Prime Commercial Lending Rate means the rate of interest per annum publicly announced from time to time by Chase as its prime commercial lending rate in effect at its principal office in New York City. "FEDERAL FUNDS EFFECTIVE RATE" shall mean, for any day, the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for the day of such transactions received by the Administrative Agent from three federal funds brokers of recognized standing selected by it. If, for any reason, the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable to ascertain the Federal Funds Effective Rate for any reason, including, without limitation, the inability or failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms hereof, the Alternate Base Rate shall be determined without regard to clause (b) of the first sentence of this definition until the circumstances giving rise to such inability no longer exist. Any change in the Alternate Base Rate due to a change in the Prime Commercial Lending Rate or the Federal Funds Effective Rate shall be effective on the effective date of such change in the Prime Commercial Lending Rate or the Federal Funds Effective Rate, respectively.
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Examples of Prime Commercial Lending Rate in a sentence

  • Any two of the officers listed in paragraph 1 above are hereby authorized to sign, make or draw on behalf of the Corporation and to furnish to the Bank from time to time promissory notes or bankers’ acceptances for the sum or sums so borrowed with interest or any other charges at a rate not exceeding the Prime Commercial Lending Rate, which the Bank may determine from time to time, minus 3/4%.

  • Any two of the officers listed in paragraph 1 above are hereby authorized to sign, make or draw on behalf of the Corporation and to furnish to the Bank from time to time promissory notes or bankers’ acceptances for the sum or sums so borrowed with interest or any other charges at a rate not exceeding the Prime Commercial Lending Rate, which the Bank may determine from time to time, minus ¾%.

  • The interest rate was a per annum floating rate equal to the lessor of (a) one-half percent (.50%) plus the Prime Commercial Lending Rate (the base interest rate on corporate loans posted by at least 75% of the thirty largest U.S. banks as reported by the Wall Street Journal, New York edition), or (b) the maximum non-usurious rate allowed under applicable law.

  • Under the prior credit facility, a Fund paid interest on its outstanding borrowings at a rate equal to either the higher of the federal funds effective rate plus 0.40% or the JPMCB Prime Commercial Lending Rate.

  • The prime rate shall be the Prime Commercial Lending Rate from time to time announced by the Royal Bank of Canada at its principal office in Toronto, Canada.

  • This includes opportunities that can arise from having access to land such as cultural connection, home ownership and generational wealth.

  • Subject to ARTICLE XIV, if any party to this Agreement fails to pay all or any portion of the amount owing by that party when due, such unpaid amount will bear interest at a rate equal to one per cent (1%) per annum above the Prime Commercial Lending Rate as reported in the Wall Street Journal calculated daily from the date such amount is due hereunder until the date it is actually paid.


More Definitions of Prime Commercial Lending Rate

Prime Commercial Lending Rate means that per annum rate of interest from time to time announced by The Chase Manhattan Bank, N.A. at its principal office as its prime commercial lending rate (or comparable rate, if The Chase Manhattan Bank, N.A. does not so designate a "prime commercial lending rate"), the Prime Commercial Lending Rate to change when and as such prime commercial lending rate changes. The Prime Commercial Lending Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. The Chase Manhattan Bank, N.A. may make commercial loans or other loans at rates of interest at, above or below the Prime Commercial Lending Rate. For purposes hereof, the principal office of The Chase Manhattan Bank, N.A. as of the date hereof, is its office located at 4 Chase Metrxxxxx Xxxxxx, 00xx Xxxxx, Xxxxxxxx, Xxx Xxxx 00000.
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Prime Commercial Lending Rate means the prime commercial lending rate of Scotia Bank for Canadian dollar loans;
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Prime Commercial Lending Rate means that rate of interest from time to time announced by the Agent (or, if no commercial bank is the Agent, The Chase Manhattan Bank) at its principal office in the United States as its prime commercial lending rate (or comparable rate, if such Bank does not so designate a "prime commercial lending rate"), the Prime Commercial Lending Rate to change when and as such prime commercial lending rate (or such comparable rate, if such Bank does not so designate a "prime commercial lending rate") changes. The Prime Commercial Lending Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. The Agent may make commercial loans or other loans at rates of interest at, above or below the Prime Commercial Lending Rate. For purposes hereof, the principal office of the Agent, as of the date hereof, is its office located at 1 Chxxx Xxxxxxxxx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000.
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Prime Commercial Lending Rate means that rate of interest from time to time announced by TCB at its principal office as its prime rate (or comparable rate, if TCB does not so designate a "prime rate"), the Prime Commercial Lending Rate to change when and as such prime rate or comparable rate, as the case may be, changes. The Prime Commercial Lending Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. TCB may make commercial loans or other loans at rates of interest at, above or
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Prime Commercial Lending Rate means the rate of interest most recently published in the Money Rates section of The Wall Street Journal as the prime annual rate of interest. CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.
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Prime Commercial Lending Rate means the per annum rate of interest from time to time announced by Chase in New York, New York as its prime commercial lending rate, the Prime Commercial Lending Rate to change when and as such prime commercial lending rate changes. The Prime Commercial Lending Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. Chase may make commercial loans or other loans at rates of interest at, above or below the Prime Commercial Lending Rate.
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Related to Prime Commercial Lending Rate

  • Prime Lending Rate means the rate which BTCo announces from time to time as its prime lending rate, the Prime Lending Rate to change when and as such prime lending rate changes. The Prime Lending Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. BTCo may make commercial loans or other loans at rates of interest at, above or below the Prime Lending Rate.

  • Funding Rate means any individual rate notified by a Lender to the Facility Agent pursuant to sub-paragraph (ii) of paragraph (a) of Clause 10.3 (Cost of funds).

  • commercial presence means any type of business or professional establishment, including through:

  • Required Rate means (a) 5.50%, with respect to the Cutoff Date and any Distribution Date on or prior to the date on which the Class A-2-B Notes are paid in full, or, (b) 5.00%, with respect to any Distribution Date after the Class A-2-B Notes are paid in full, or, in each case, such other percentage approved by the Rating Agencies.

  • Approved Commercial Bank means a commercial bank with a consolidated combined capital and surplus of at least $5,000,000,000.

  • Benchmark Rate means, with respect to any Redemption Date, the rate per annum equal to the annual equivalent yield to maturity or interpolated maturity of the Comparable Benchmark Issue (as defined below), assuming a price for the Comparable Benchmark Issue (expressed as a percentage of its principal amount) equal to the Comparable Benchmark Price for such Redemption Date.

  • Commercial LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding commercial Letters of Credit plus (b) the aggregate amount of all LC Disbursements relating to commercial Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers. The Commercial LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Commercial LC Exposure at such time.

  • New Lending Office has the meaning specified therefor in Section 2.09(d).

  • Eurodollar Banking Day means any Banking Day on which dealings in Dollar deposits are conducted by and among banks in the Designated Eurodollar Market.

  • Alternative Benchmark Rate means an alternative benchmark or screen rate which is customarily applied in international debt capital markets transactions for the purposes of determining floating rates of interest (or the relevant component part thereof) in the Specified Currency, provided that all determinations will be made by the Independent Adviser in its reasonable discretion.

  • Money Market Lending Office means, as to each Bank, its Domestic Lending Office or such other office, branch or affiliate of such Bank as it may hereafter designate as its Money Market Lending Office by notice to the Borrower and the Agent; provided that any Bank may from time to time by notice to the Borrower and the Agent designate separate Money Market Lending Offices for its Money Market LIBOR Loans, on the one hand, and its Money Market Absolute Rate Loans, on the other hand, in which case all references herein to the Money Market Lending Office of such Bank shall be deemed to refer to either or both of such offices, as the context may require.

  • Base Rate means, for any day, the rate per annum equal to the higher of (a) the Federal Funds Rate for such day plus one-half of one percent (0.5%) and (b) the Prime Rate for such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Rate.

  • Scheduled Commercial Bank means any bank included in the second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934).

  • pre-commercial procurement means the procurement of research and development services involving risk-benefit sharing under market conditions, and competitive development in phases, where there is a clear separation of the research and development services procured from the deployment of commercial volumes of end-products;

  • borrowing rate means the interest rate expressed as a fixed or variable percentage applied on an annual basis to the amount of credit drawn down;

  • Original Benchmark Rate on any day means the [1 / 3 / 6 / 12]-months Euro Interbank Offered Rate (expressed as a percentage rate per annum) fixed at, and appearing on, the Screen Page as of 11:00

  • Overnight Bank Funding Rate means, for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated in Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the NYFRB’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.