Prime Rate Advances means Advances that bear interest at rates based upon the Prime Rate.

Prime Rate Advances means an ADVANCE, the interest rate on which is calculated by reference to the PRIME RATE.

Prime Rate Advances. Each Prime Rate Advance shall be in an amount of not less than Five Hundred Thousand Dollars ($500,000). The outstanding principal balance of each Prime Rate Advance shall bear interest until principal is due (computed daily on the basis of a 360 day year and actual days elapsed), at a floating rate per annum equal to one quarter of one percent (0.25%) below the Prime Rate. Borrower shall pay the entire outstanding principal amount of each Prime Rate Advance on the Revolving Maturity Date.”

Examples of Prime Rate Advances in a sentence

Each change in the interest rate of the Prime Rate Advances based on changes in the Prime Rate shall be effective on the effective date of such change and to the extent of such change.
Borrowings in CAD may take the form of Prime Rate Advances, Bankers’ Acceptances (BAs), and letters of credit, with interest calculated at the Prime Rate or prevailing Government BA fee.
Borrowings in CAD may take the form of Prime Rate Advances, BAs, or letters of credit, with interest calculated at the Prime Rate or prevailing Government BA fee.
Borrowings under the revolving credit facility can be by way of Bankers Acceptance or Prime Rate Advances and the floating interest rate is contingent on the type of advance plus the applicable spread or margin.
The Company may make drawdowns, conversions, and rollovers under the Term Facility in Canadian dollars, by way of Prime Rate Advances or Bankers’ Acceptances (“BA”) and BA Equivalent Notes.

More Definitions of Prime Rate Advances

Prime Rate Advances means an Advance which has interest at Prime Rate.

Prime Rate Advances means Advances which bear interest with reference to the Prime Rate as a Rate Index.

Prime Rate Advances means Advances which bear interest calculated by reference to the Prime Rate.

Prime Rate Advances. $__________ LIBOR Rate Advances: $__________ Unused Commitment Fee: $__________

Prime Rate Advances means Advances bearing interest calculated on the basis of the Prime Rate.

Prime Rate Advances means any and all portions of the principal balance of this Note which bear interest based on the Prime Rate. This Note shall be payable as follows: