Prime Rate Loan. Each Prime Rate Loan shall bear interest (both before and after demand, maturity, default and, to the extent permitted by law, judgment, with interest on overdue interest at the same rate) from and including the Borrowing Date for such Loan to, but not including, the date of repayment of such Loan on the unpaid principal amount of such Loan at a nominal rate per annum equal to the Prime Rate, which shall, in each case, change automatically without notice to the Borrower as and when the Prime Rate shall change so that at all times the rates set forth above shall be the Prime Rate then in effect. Interest on each Prime Rate Loan shall be computed on the basis of the actual number of days elapsed divided by three hundred and sixty-five (365) or three hundred and sixty-six (366), as applicable. Interest in respect of outstanding Prime Rate Loans shall be payable monthly in arrears on the first Business Day of each month; provided, however, that interest on overdue interest shall be payable on demand.
Prime Rate Loan. When a Prime Rate Loan is selected, the interest rate shall be adjusted from time to time, effective as of the date of each change in Bank's Prime Rate and the Prime Rate shall continue to apply until another interest rate option is selected by Borrower Agent for that Loan.
Prime Rate Loan. Any Revolving Loan or portion of either Term Loan --------------- bearing interest calculated by reference to the Prime Rate.
Prime Rate Loan. Each Loan that is a Prime Rate Loan shall bear interest at a fluctuating per annum rate equal to the Prime Rate increased or decreased by the applicable Prime Margin set forth below. Bank’s Prime Rate may change from time to time, and the interest payable will continue to fluctuate at the rate as stated herein. Any changes to the Prime Rate shall become effective without prior notice to Borrower on the date on which the Prime Rate changes.
Prime Rate Loan. Each Prime Rate Loan shall bear interest (both before and after demand, maturity, default and, to the extent permitted by law, judgment, with interest on overdue interest at the same rate) from and including the Borrowing Date for such Loan to, but not including, the date of repayment of such Loan on the unpaid principal amount of such Loan at a nominal rate per annum equal to the Prime Rate, plus the Applicable Margin then in effect, which shall, in each case, change automatically without notice to the Borrower as and when the Prime Rate shall change so that at all times the rates set forth above shall be the Prime Rate then in effect. Interest on each Prime Rate Loan shall be computed on the basis of the actual number of days elapsed divided by 365 or 366, as applicable. Interest in respect of outstanding Prime Rate Loans shall be payable monthly in arrears on the first Business Day of each month; provided, however, that interest on overdue interest shall be payable on demand. RBC – AltaLink (AILP) – 2020 $200M Credit Agreement
Prime Rate Loan. For a Prime Rate Loan, a rate per annum equal at all times to the sum of the Prime Rate in effect for such day plus the Applicable Margin;
Prime Rate Loan. The term “Prime Rate Loan” shall mean an advance to be made pursuant to the applicable Notice of Borrowing, which will bear interest at the annual lending rate of interest announced from time to time by XX Xxxxxx Xxxxx & Co., New York, New York, as its prime rate, less the Applicable Margin.
Prime Rate Loan. Borrower agrees to pay interest (calculated on the basis of the actual days elapsed in a year consisting of 360 days) with respect to that portion of the Principal Term Debt which is a Prime Rate Loan at a varying rate per annum equal to the lesser of (i) the Maximum Rate or (ii) the Prime Rate. Accrued interest on that portion of the Principal Term Debt which constitutes a Prime Rate Loan shall be due and payable on the last day of each Prime Rate Interest Period. That portion of the Principal Term Debt which constitutes a Prime Rate Loan may be prepaid in whole or in part at any time and from time to time without premium or penalty.
Prime Rate Loan. Any Loan for the period(s) when the rate of interest applicable to such Loan is calculated by reference to the Prime Rate.
Prime Rate Loan. The definition of “Prime Rate Loan” is added to read as follows:
