Canadian Prime Loans definition

Canadian Prime Loans means Canadian Revolving Loans made pursuant to Section 2.1(b) hereof which are denominated in Canadian Dollars.
Canadian Prime Loans means C$ Denominated Loans which bear interest at a rate based upon the Canadian Prime Rate.
Canadian Prime Loans means loans that bear interest at rates based upon the Chase Canada Prime Rate.

Examples of Canadian Prime Loans in a sentence

  • Any such conversion shall be calculated so that the resulting Canadian Prime Loans shall be the equivalent on the date of conversion of the amount of Dollars so converted.

  • Any accrued and unpaid interest denominated in Dollars at the time of any such conversion shall be similarly converted to Canadian Dollars, and such Canadian Prime Loans and accrued and unpaid interest thereon shall thereafter bear interest in accordance with the terms hereof.

  • Except for Loans deemed made pursuant to Section 2.02(f), Loans (other than Swingline Loans, Canadian Prime Loans and Base Rate Loans) comprising any Borrowing shall be in an aggregate principal amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum or (ii) equal to the remaining available balance of the applicable Revolving Commitments.

  • If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Borrowing of U.S. Base Rate Loans for U.S. Borrowers and of Canadian Prime Loans for the Canadian Borrower.

  • Any payment made by a Revolving Lender pursuant to this paragraph to reimburse an Issuing Bank for any LC Disbursement (other than the funding of Base Rate Loans, Canadian Prime Loans or a Swingline Loan as contemplated above) shall not constitute a Loan and shall not relieve the Relevant Borrower of its obligation to reimburse such LC Disbursement.

  • At any time following the occurrence of an Event of Default and the acceleration of the maturity of the Obligations owed to the Canadian Lenders hereunder, the Canadian Lenders shall be entitled to convert, with two (2) Business Days' prior notice to Canadian Borrower, any and all or any part of the then unpaid and outstanding LIBOR Borrowings and Base Rate Borrowings of the Canadian Borrower to Canadian Prime Loans.

  • Whenever a Canadian Borrower desires to convert or continue any Canadian Prime Loans as B/A Equivalent Loans, such Canadian Borrower shall give the Administrative Agent a Notice of Conversion/Continuation, no later than 1:00 p.m. (Local Time) at least three Business Days before the requested conversion or continuation date.

  • If a Notice of Conversion/Continuation with respect to a Borrowing of B/A Equivalent Loans is not timely delivered prior to the end of the Contract Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Contract Period such Borrowing shall be converted to a Borrowing of Canadian Prime Loans.

  • Each Notice of Conversion/Continuation shall specify the amount of Canadian Prime Loans to be converted or continued, the conversion or continuation date (which shall be a Business Day), and the duration of the Contract Period (which shall be deemed to be one month if not specified).

  • Each such Notice of Borrowing, except as otherwise expressly provided in Section 2.10, shall be irrevocable and shall specify (i) the aggregate principal amount of the Revolving Credit Loans to be made pursuant to such Borrowing, (ii) the date of Borrowing (which shall be a Business Day) and (iii) whether the respective Borrowing shall consist of BA Loans, Eurodollar Loans, Canadian Prime Loans or Cdn ABR Loans and, if BA Loans or Eurodollar Loans, the Interest Period to be initially applicable thereto.


More Definitions of Canadian Prime Loans

Canadian Prime LoansUSBR Loans", "Bankers' Acceptances Stamping Fee" or "Commitment Fees & Unavailable Fees", as the case may be, based on the Applicable Rating Level on such date ---------------------------------------------------------------------------------------------------------------------------------- APPLICABLE RATIO OF TOTAL EURODOLLAR CANADIAN USBR BANKERS' COMMITMENT RATING DEBT TO LOANS (IN PRIME LOANS LOANS (IN ACCEPTANCE FEES & LEVEL: EBITDA BASIS POINTS) (IN BASIS BASIS POINTS) STAMPING UNAVAILABLE POINTS) FEE (IN BASIS FEES (IN BASIS POINTS) POINTS) ---------------------------------------------------------------------------------------------------------------------------------- Level I 2.0 > x 87.5 0.0 0.0 87.5 25.0 2.0 < or = to x < 2.5 100.0 0.0 0.0 100.0 25.0 2.5 < or = to x 112.5 12.5 12.5 112.5 25.0 ---------------------------------------------------------------------------------------------------------------------------------- Level II 2.0 > x 112.5 12.5 12.5 112.5 37.5 2.0 < or = to x < 2.5 137.5 37.5 37.5 137.5 37.5 2.5 < or = to x 150.0 50.0 50.0 150.0 37.5 ---------------------------------------------------------------------------------------------------------------------------------- Level III 2.0 > x 125.0 25.0 25.0 125.0 37.5 2.0 < or = to x < 2.5 150.0 50.0 50.0 150.0 37.5 2.5 < or = to x 175.0 75.0 75.0 175.0 37.5 ---------------------------------------------------------------------------------------------------------------------------------- As used in this definition, "x" means, at any time, the ratio of Total Debt to EBITDA calculated pursuant to SECTION 6.1 of the U.S. Credit Agreement. For purposes of the foregoing, any change in the Applicable Rate will occur automatically without prior notice upon any change in the Applicable Rating Level. Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. Notwithstanding anything in this definition to the contrary, at all times on or before December 31, 2000, the Applicable Rate for (i) Eurodollar Loans and Bankers Acceptances shall equal 150 basis points, (ii) Canadian Prime Loans and USBR Loans shall equal 50 basis points, and (iii) Commitment Fees and Unavailable Fees shall equal 37.5 basis points.
Canadian Prime Loans. Bankers' Acceptances Stamping Fee" or "Commitment Fees", as the case may be, based on the Global Borrowing Base Utilization on such date.
Canadian Prime Loans means Loans made pursuant to SECTION 2.1(B) hereof which are denominated in Canadian Dollars and which bear interest calculated on the basis of the Canadian Prime Rate.
Canadian Prime Loans means Loans made pursuant to Section 2.1(b) hereof which are denominated in Canadian Dollars. Canadian Prime Rate means, on any day, as to Loans denominated in Canadian Dollars made to Canadian Borrower, the greater of (a) the annual rate of interest announced from time to time by Chase Canada as its prime rate then in effect at its Principal Office, being the reference rate used by Chase Canada for determining interest rates on commercial loans denominated in Canadian Dollars to borrowers in Canada, and (b) an annual rate of interest equal to the sum of (i) the CDOR Rate and (ii) 1.00% per annum. The Canadian Prime Rate is a reference rate and does not necessarily represent the lowest or best rate or a favored rate, and TCB, Chase Canada, each Agent and each Lender disclaims any statement, representation or warranty to the contrary. TCB, Chase Canada, any Agent or any Lender may make commercial loans or other loans at rates of interest at, above or below the Canadian Prime Rate. Capital Expenditures means, with respect to any Person for any period, expenditures in respect of fixed or capital assets by such Person, including capital lease obligations payable during such period (to the extent not already included), which would be reflected as additions to Property, plant or equipment on a balance sheet of such Person and its consolidated Subsidiaries, if any, prepared in accordance with GAAP; but excluding expenditures during such period for the repair or replacement of any fixed or capital asset which was destroyed or damaged, in whole or in part, to the extent financed by the proceeds of an insurance policy maintained by such Person. Capital Expenditures shall not include Permitted Investments or the assets owned by any Person acquired by way of a Permitted Investment or assets comprising substantially all of an entire business which is acquired by the applicable Person. CDOR Rate means, on any day, an annual rate of interest equal to the average 30 day rate applicable to Canadian bankers' acceptances appearing on the "Reuters Screen CDOR Page" (as defined in the International Swap Dealer Association, Inc. (1991 ISDA) definitions, as modified and amended from time to time) as of 12:00 noon (Toronto, Ontario time) on such day, or if such day is not a Business Day, then on the immediately preceding Business Day; provided, however, if such rate does not appear on the Reuters Screen CDOR Page as contemplated, then the CDOR Rate on any day shall be calculated ...
Canadian Prime Loans means First Lien Loans bearing interest based upon the Canadian Prime Rate. Canadian Prime Loans will be available on same day basis.
Canadian Prime Loans means Canadian Advances bearing interest based on the Canadian Prime Rate and Canadian Swing Line Advances.

Related to Canadian Prime Loans

  • Canadian Prime Rate Loans means Loans for which the applicable rate of interest is based upon the Canadian Prime Rate.

  • Canadian Prime Rate Loan means a Tranche B Loan denominated in Canadian Dollars that bears interest based on the Canadian Prime Rate.

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • Canadian Prime Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum.

  • Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).

  • 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.

  • Domestic Loans means CD Loans or Base Rate Loans or both.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Canadian Loan means a Loan made to a Canadian Borrower denominated in Canadian Dollars.

  • Revolving Loans as defined in Section 2.4(a).

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Other Revolving Loans means the Revolving Loans made pursuant to any Other Revolving Commitment.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

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

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.

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

  • Alternative Currency Daily Rate Loan means a Loan that bears interest at a rate based on the definition of “Alternative Currency Daily Rate.” All Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • U.S. Loans means, individually and collectively as the context may require, the U.S. Revolving Loans, the U.S. Swingline Loans, the U.S. Overadvances, and the U.S. Protective Advances.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • U.S. Revolving Loans means the revolving loans made to the U.S. Borrowers pursuant to Section 2.1(a)(i), or any amendment to this Agreement entered into pursuant to Section 2.5, 2.6 or 2.7, each Agent Advance made to a U.S. Borrower and each U.S. Swingline Loan.

  • LIBOR Rate Loans means the Loans bearing interest with reference to the LIBOR Rate.