Adjusted Prime Rate Advance definition

Adjusted Prime Rate Advance means an Advance that bears interest at the Adjusted Prime Rate.
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Adjusted Prime Rate Advance. The term "Adjusted Prime Rate Advance" means any principal amount outstanding under this Agreement which pursuant to this Agreement bears interest at the Adjusted Prime Rate. Affiliate shall mean, as to any Person, any other Person that, directly or indirectly, is in control of, is controlled by or is under common control with such Person or is a director or officer of such Person. For purposes of this definition, control of a Person shall mean the power, direct or indirect, (i) to vote 10% or more of the securities having ordinary voting power for the election of directors of such Person or (ii) to direct or cause the direction of the management and policies of such Person, whether by contract or otherwise. Agent. KEYBANK NATIONAL ASSOCIATION, acting as agent for the Lenders. Agreement as defined in the Preamble.
Sample 1
Adjusted Prime Rate Advance means any principal amount outstanding under this Agreement which pursuant to this Agreement bears interest at the Adjusted Prime Rate. Affiliate shall mean, as to any Person, any other Person that, directly or indirectly, is in control of, is controlled by or is under common control with such Person or is a director or officer of such Person. For purposes of this definition, control of a Person shall mean the power, direct or indirect, (i) to vote 10% or more of the securities having ordinary voting power for the election of directors of such Person or (ii) to direct or cause the direction of the management and policies of such Person, whether by contract or otherwise. Agent. KEYBANK NATIONAL ASSOCIATION, acting as agent for the Lenders. Agreement as defined in the Preamble.
Sample 1

Examples of Adjusted Prime Rate Advance in a sentence

  • Each LIBOR Advance shall be in the minimum amount of $2,000,000 (and in multiples of $100,000 if in excess thereof), and each Adjusted Prime Rate Advance shall be in the minimum amount of $1,000,000 (and in multiples of $100,000 if in excess thereof), provided, however, that any Adjusted Prime Rate Advance may be in the amount of the unused Aggregate Commitment.

  • Notwithstanding the foregoing, during the continuance of a Monetary Default or an Event of Default, Borrower shall not have the right to request a LIBOR Advance, request a Competitive Bid Loan, select a new LIBOR Interest Period for an existing ratable LIBOR Advance or convert any Adjusted Prime Rate Advance to a ratable LIBOR Advance.

  • Ratable LIBOR Advances shall continue until the end of the then applicable LIBOR Interest Period therefor, at which time each such Advance shall be automatically converted into an Adjusted Prime Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice in accordance with Section 2.10(g)(iv) requesting that, at the end of such LIBOR Interest Period, such Advance either continue as an Advance of such type for the same or another LIBOR Interest Period.

  • Notwithstanding provisions contained elsewhere in this Agreement with regard to Swingline Loans, Competitive Bid Loans and Facility Letters of Credit, the single disbursement which Borrower is permitted to request shall consist solely of a ratable Adjusted Prime Rate Advance, ratable LIBOR Advance, or combination of both.

  • Administrative Agent shall give written notice to each Lender of each request for a Loan, or conversion of an existing Loan from a Adjusted Prime Rate Advance to an Adjusted LIBOR Rate Advance, by facsimile transmission, hand delivery or overnight courier, not later than 11:00 a.m. (Boston time) (i) two (2) Business Days prior to any Adjusted LIBOR Rate Advance or conversion to an Adjusted LIBOR Rate Advance, or (ii) one (1) Business Day prior to any Adjusted Prime Rate Advance.

  • Each Adjusted Prime Rate Advance shall continue as a Adjusted Prime Rate Advance until Maturity of the Loan, unless sooner converted, in whole or in part, to an Adjusted LIBOR Rate Advance, subject to the limitations and conditions set forth in this Agreement.

  • Ratable LIBOR Advances shall continue until the end of the then applicable LIBOR Interest Period therefor, at which time each such Advance shall be automatically converted into an Adjusted Prime Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice in accordance with S ection 2.10(g)(iv) requesting that, at the end of such LIBOR Interest Period, such Advance either continue as an Advance of such type for the same or another LIBOR Interest Period.


More Definitions of Adjusted Prime Rate Advance

Adjusted Prime Rate Advance means any principal amount outstanding under this Agreement which pursuant to this Agreement bears interest at the Adjusted Prime Rate. Administrative Agent. KeyBank National Association, acting as administrative agent for the Lenders. Administrative Agent’s Fee as defined in Section 2.4.1. Administrator LLC shall mean Administrator LLC, a Delaware limited liability company, the beneficial interest in which is owned by the Integrated Group.
Sample 1
Adjusted Prime Rate Advance means any principal amount outstanding under this Agreement which pursuant to this Agreement bears interest at the Adjusted Prime Rate. Affiliate shall mean, as to any Person, any other Person that, directly or indirectly, is in control of, is controlled by or is under common control with such Person or is a director or officer of such Person. For purposes of this definition, control of a Person shall mean the power, direct or indirect, (i) to vote 10% or more of the securities having ordinary voting power for the election of directors of such Person or (ii) to direct or cause the direction of the management and policies of such Person, whether by contract or otherwise. Agent. KEYBANK NATIONAL ASSOCIATION, acting as agent for the Lenders. Aggregate Investment Capitalization shall mean, with respect to the Borrower’s Investments, the value of the non-real estate assets, as calculated by the Borrower and approved by the Agent in its reasonable discretion, plus the value of the underlying real estate assets. The underlying real estate assets will be valued based upon a 10 year discounted Cash Flow. The discount rate will be 9% and the reversionary capitalization rate will be 11%. The Cash Flow will be based upon (a) in place rental income through the expiration of the primary term of the lease, and (b) at primary term maturity of a given lease, (i) the lease rate will be the renewal lease rate if the renewal rent is less than Market Rent, and (ii) if the renewal rate is greater than the Market Rent, the post primary term income stream will be based on the Market Rent based upon the following assumptions: (1) the renewal probability of the tenant remaining at lease expiration is 65%, (2) the downtime at expiration is estimated to be nine (9) months, (3) the Market Rent is assumed to grow at 0% per year from the analysis made at the Closing Date, and (4) the rent employed for these spaces is the Market Rent, regardless as to the rate in the renewal option, all of the foregoing as determined solely by the Agent. Agreement as defined in the Preamble.
Sample 1
Adjusted Prime Rate Advance means any principal amount outstanding under this Agreement which pursuant to this Agreement bears interest at the Adjusted Prime Rate. Affiliate shall mean, as to any Person, any other Person that, directly or indirectly, is in control of, is controlled by or is under common control with such Person or is a director or officer of such Person. For purposes of this definition, control of a Person shall mean the power, direct or indirect, (i) to vote 10% or more of the securities having ordinary voting power for the election of directors of such Person or (ii) to direct or cause the direction of the management and policies of such Person, whether by contract or otherwise. Agent. KEYBANK NATIONAL ASSOCIATION, acting as agent for the Lenders. Agreement as defined in the Preamble. Applicable Margin shall mean the amount specified below for each Adjusted Prime Rate Advance or LIBOR Rate Advance, as applicable: Applicable Margin Applicable Margin LIBOR Rate Option Adjusted Prime Rate Option 3.00% 1.50 % Applicable Rate as defined in Section 2.4.1. Appraisal as defined in Section 7.18. Arranger shall mean KEYBANC CAPITAL MARKETS. Authorized Representatives as defined in Section 4.1 and listed on Exhibit D. Availability as defined in Section 2.1.1. Borrower as defined in the Preamble. Borrower Subsidiaries shall mean all of the Subsidiaries of the Borrower, and all Subsidiaries of Subsidiaries of the Borrower, including, without limitation, the entities as listed on Exhibit F (except as otherwise indicated). Borrowing shall mean the borrowing of a portion of Facility from all the Lenders on a given date (or the conversion of a Loan or Loans of a Lender or Lenders on a given date). Borrowing Base shall mean, as determined by the Agent, the lesser of (1) the aggregate of (a) sixty percent (60%) of the Value of each wholly owned Stabilized Individual Property which is a Borrowing Base Asset, (b) forty percent (40%) of the Value of wholly owned non-Stabilized Individual Property which is a Borrowing Base Asset, (c) forty five percent (45%) of the market value of all Pledged Securities, (d) the Cash Percentage of the outstanding balances of the cash pledged as Collateral hereunder, which Borrowing Base Assets (or the equity interest therein, as applicable), in each instance, are pledged or otherwise subject to a lien in favor of the Agent in a manner acceptable to the Agent, (2) the Borrower’s Net Cash Flow divided by 0.12, or (3) the Mortgageability Amount.
Sample 1
Adjusted Prime Rate Advance means any Advance bearing interest based on the Adjusted Prime Rate.
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Related to Adjusted Prime Rate Advance

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(i).

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Reference Rate Loan means any Committed Loan that bears interest at a rate determined with reference to the Reference Rate.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(ii).

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • Eurocurrency Rate Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars or in an Agreed Currency which bears interest as provided in Section 2.07(b) or a Local Currency Advance which bears interest as provided in Section 2.07(b) and the Local Currency Addendum.

  • Prime Rate Loan means any Loan bearing interest at a rate determined by reference to the Prime Rate.

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Prime Rate Loans means any Loans or portion thereof on which interest is payable based on the Prime Rate in accordance with the terms thereof.

  • Base Rate Loans Loans the rate of interest applicable to which is based upon the Base Rate.

  • LIBO Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Eurocurrency Base Rate has the meaning specified in the definition of Eurocurrency Rate.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Canadian Prime Rate Loan means any Loan made to the Borrower in Canadian Dollars which bears interest based upon the Canadian Prime Rate as provided in Section 4.1(a).

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurocurrency Rate.

  • Canadian Prime Rate Loans means any Canadian Dollar Revolving Loan during the period which it bears interest at a rate determined by reference to the Canadian Prime Rate.

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • LIBOR Rate Loan means a Loan that bears interest based on LIBOR.