Applicable Prime Rate Spread definition

Applicable Prime Rate Spread means the percentage amount calculated in accordance with the Pricing Matrix.
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Applicable Prime Rate Spread means, as of any date of determination, the interest rate spread set forth below opposite the Applicable Pricing Level as of such date: Applicable Applicable Prime Rate Pricing Level Spread ------------- ---------- I 0.00% II 0.00% III 0.00% IV 0.00% V 0.25%
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Applicable Prime Rate Spread means 4.25% per annum for the period from and including the Conversion Date to but excluding the 90th day following the Conversion Date and for each subsequent 90-day period the Applicable Prime Rate Spread in effect for the immediately preceding 90-day period plus .50% per annum.
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Examples of Applicable Prime Rate Spread in a sentence

  • If any installment of principal or interest under the Notes or any other amount payable to the Banks under any Loan Document is not paid when due, it shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the sum of the Prime Rate plus the Applicable Prime Rate Spread plus 2%, to the extent permitted by applicable Law, until paid in full (whether before or after judgment).

  • Upon and during the continuance of any Event of Default, the Indebtedness evidenced by the Notes shall, at the election of the Majority Banks and upon notice to Borrower (and in lieu of interest provided for in the preceding sentence), bear interest at a fluctuating interest rate per annum at all times equal to the sum of the Prime Rate plus the Applicable Prime Rate Spread plus 2%, to the extent permitted by applicable Law, until no Event of Default exists (whether before or after judgment).

  • Except as otherwise provided in Section 3.6, the unpaid principal amount of any Prime Rate Loan shall bear interest at a fluctuating rate per annum equal to the sum of the Prime Rate plus the Applicable Prime Rate Spread.

  • Except as otherwise provided in Section 3.8, the unpaid principal amount of any Prime Rate Loan shall bear interest at a fluctuating rate per annum equal to the sum of the Prime Rate plus the Applicable Prime Rate Spread.