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 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.

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.

• Interest on (i) Canadian Prime Loans and (ii) ABR Loans in respect of which the rate of interest is calculated on the basis of the Prime Rate and interest on overdue interest shall be calculated on the basis of a 365- (or 366-, as the case may be) day year for the actual days elapsed.

• 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.

• 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.

More Definitions of Canadian Prime Loans

Canadian Prime Loans. Loans the rate of interest applicable to which is based upon the Canadian Prime Rate.

Canadian Prime Loans means loans that bear interest at rates based upon the Chase Canada Prime Rate.

Canadian Prime Loans means Canadian Prime Rate based loans, which for greater certainty includes loans made by way of Canadian Overdraft;

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 First Lien Loans bearing interest based upon the Canadian Prime Rate. Canadian Prime Loans will be available on same day basis.

Canadian Prime Loans. USBR 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 means Canadian Advances bearing interest based on the Canadian Prime Rate and Canadian Swing Line Advances.