Prime Rate Borrowing means the principal amount of any portion of any Borrowing bearing interest at the Prime-Based Rate.
Prime Rate Borrowing means a Borrowing bearing interest at the sum of the Prime Rate plus the Applicable Margin for Prime Rate Borrowings.
Prime Rate Borrowing when used in reference to the Term Loan, refers to whether the portion of the Term Loan comprising a Borrowing is bearing interest at a rate determined by reference to the Prime Rate.
Examples of Prime Rate Borrowing in a sentence
To request a funding of any portion of the Term Loan, the Borrower shall notify the Lender of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 12:00 p.m., New York City time, three Business Days before the date of the proposed funding or (b) in the case of a Prime Rate Borrowing, not later than 12:00 p.m., New York City time, on the date of the proposed funding.
Unless the Borrower notifies the Bank at least 2 Domestic Business Days before the date of any Borrowing for which a Notice of Borrowing has previously been given that it elects not to borrow on such date, such Borrowing shall instead be made as a Prime Rate Borrowing.
More Definitions of Prime Rate Borrowing
Prime Rate Borrowing means a Borrowing consisting of Prime Rate Loans.
Prime Rate Borrowing means that portion of the Loan outstanding at any time that the Effective Rate is applicable.
Prime Rate Borrowing means a Borrowing consisting of Prime
Prime Rate Borrowing means any period of time during which this Note is bearing interest based upon the Prime Rate.