Common use of Prime Rate Clause in Contracts

Prime Rate. The term "Prime Rate" shall mean at any time the rate of interest most recently announced within Bank at its principal office as its Prime Rate, with the understanding that the Prime Rate is one of Bank's base rates and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto, and is evidenced by the recording thereof in such internal publication or publications as Bank may designate. Each change in the rate of interest shall become effective on the date each Prime Rate change is announced within Bank.

Appears in 12 contracts

Samples: Credit Agreement (SBS Technologies Inc), Credit Agreement (Amrep Corp), Revolving Line of Credit Note (Startek Inc)

AutoNDA by SimpleDocs

Prime Rate. The term "Prime Rate" shall mean at any time the rate of interest most recently announced within Bank at its principal office as its Prime Rate, "prime rate," with the understanding that the Prime Rate such "prime rate" is one of Bank's base rates and rates, serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto, thereto and is evidenced by the recording thereof in such internal publication or publications as Bank may designate. Each change in the rate of interest shall become effective on the date each Prime Rate change is announced within Bank.

Appears in 2 contracts

Samples: Credit Agreement (Staar Surgical Company), Credit Agreement (Staar Surgical Company)

Prime Rate. The term "Prime Rate" shall mean at any time the rate of interest most recently announced within Bank at its principal office as its Prime Rate, with the understanding that the Prime Rate is one of Bank's ’s base rates and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto, and is evidenced by the recording thereof in such internal publication or publications as Bank may designate. Each change in the rate of interest shall become effective on the date each Prime Rate change is announced within Bank.

Appears in 1 contract

Samples: Credit Agreement (Rentrak Corp)

Prime Rate. The term "Prime Rate" shall mean at any is a base rate that Bank from time the rate of interest most recently announced within Bank at its principal office as its Prime Rate, with the understanding that the Prime Rate is one of Bank's base rates to time establishes and which serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto, and is evidenced by the recording thereof in such internal publication or publications as Bank may designate. Each change in the rate of interest shall become effective on the date each Prime Rate change is announced within Bank.

Appears in 1 contract

Samples: Credit Agreement (Barrett Business Services Inc)

Prime Rate. The term "Prime Rate" shall mean mean, at any time time, the rate of interest most recently announced within Bank at its principal office as its Prime Rate, with the understanding that the Prime Rate is one of Bank's ’s base rates and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto, and is evidenced by the recording thereof in such internal publication or publications as Bank may designate. Each change in the rate of interest shall become effective on the date each Prime Rate change is announced within Bank.

Appears in 1 contract

Samples: Credit Agreement (Acr Group Inc)

AutoNDA by SimpleDocs

Prime Rate. The term "Prime Rate" shall mean at any time the rate of interest most recently announced within Bank at its principal office as its Prime Rate, with the understanding that the Prime Rate is one of Bank's base rates and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto, and is evidenced by the recording thereof in such internal publication or publications as Bank may designate. Each change in the rate of interest shall become effective on the date each Prime Rate change is announced within Bank.

Appears in 1 contract

Samples: Credit Agreement (Stratford American Corp)

Prime Rate. The term "Prime Rate" shall mean at any time the rate of interest most recently announced within Bank at its principal office in San Francisco as its Prime Rate, with the understanding that the Prime Rate is one of Bank's base rates and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto, and is evidenced by the recording thereof in such internal publication or publications as Bank may designate. Each change in the rate of interest shall become effective on the date each Prime Rate change is announced within Bank.

Appears in 1 contract

Samples: Credit Agreement (First Consulting Group Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!