Canadian Prime Rate Advance definition

Canadian Prime Rate Advance means an Advance to a Canadian Borrower which bears interest based on the Canadian Prime Rate. All Canadian Prime Rate Advances shall be denominated in Canadian Dollars.

Canadian Prime Rate Advance has the meaning specified in the definition of Advance.

Canadian Prime Rate Advance means a Multicurrency Advance made in Canadian Dollars that bears interest as provided in Section 2.08(a)(iii).

Examples of Canadian Prime Rate Advance in a sentence

• The Agent agrees that it will, as promptly as practicable, notify the Canadian Borrower of the unavailability of Bankers' Acceptances and, if applicable, of the date and the amount of each Canadian Prime Rate Advance to be made or actually made in accordance with the immediately preceding sentence.

• Any amount of principal of, or interest on, any such Canadian Prime Rate Advance which is not paid when due (whether at stated maturity, by acceleration or otherwise) shall be payable on demand and shall bear interest (both before and after judgment), from the date on which such amount is due until such amount is paid in full, at a rate per annum equal to the Canadian Prime Rate in effect from time to time plus the Applicable Margin plus, to the extent permitted by law, 2%.

• If the Canadian Borrower at any time fails to repay a Canadian Swing Line Loan made to such Borrower on the applicable date when due, such Borrower shall be deemed to have elected to borrow a Syndicated Canadian Advance which shall be a Canadian Prime Rate Advance under Section 2.2 as of such date equal in amount to the unpaid amount of such Canadian Swing Line Loan (notwithstanding the minimum amount of Canadian Prime Rate Advances as provided in Section 2.7).

• Each Syndicated Global Advance and Syndicated Canadian Advance shall be in the applicable minimum amounts specified in Schedule I or, in the case of a Syndicated Canadian Advance, such other amounts as may be specified in the Syndicated Canadian Addendum; provided, however, that any Base Rate Advance may be in the amount of the unused Aggregate Commitment and any Canadian Prime Rate Advance or Base Rate Advance to the Canadian Borrower may be in the amount of the unused Syndicated Canadian Commitments.

• If and so long as such Advance is a Canadian Prime Rate Advance and subject as provided in the following sentence, at a rate per annum equal at all times to the Canadian Prime Rate in effect from time to time plus the Applicable Margin, calculated daily and payable in arrears (i) on the first Business Day of each month in each year; and (ii) on the day on which such Canadian Prime Rate Advance becomes due and payable in full pursuant to the provisions hereof.

More Definitions of Canadian Prime Rate Advance

Canadian Prime Rate Advance means an Advance which bears interest at the Canadian Prime Rate. “Canadian Prime Rate Loan” means a Loan which bears interest at the Canadian Prime Rate. “Canadian Swing Line Borrowing Notice” is defined in Section 2.9.2 hereof.

Canadian Prime Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(v).

Canadian Prime Rate Advance means a Committed Advance in Canadian Dollars that bears interest at a rate per annum determined on the basis of the Canadian Prime Rate, as provided in Section 2.07(c).

Canadian Prime Rate Advance means a Canadian Advance bearing interest at the Canadian Prime Rate.

Canadian Prime Rate Advance means an Advance to a Canadian Borrower which bears interest based on the Canadian Prime Rate. All Canadian Prime Rate Advances shall be denominated in Canadian Dollars. “Canadian Priority Payables Reserve” means, as of any date of determination, an Availability Reserve in such amount as the Agent may determine in its Permitted Discretion to reflect amounts secured by any Liens in Canada, xxxxxx or inchoate, which rank or are capable of ranking in priority to the Liens of the Agent, including any such amounts due and not paid for wages, vacation pay, severance pay, amounts due and not paid under any legislation relating to workers’ compensation or to employment insurance, all amounts deducted or withheld and not paid and remitted when due under the Income Tax Act (Canada), all amounts collected but not remitted when due under the Excise Tax Act (Canada) or otherwise on account of sales tax, goods and services tax, value added tax, harmonized sales tax, excise tax, and any other tax payable pursuant to the Excise Tax Act (Canada) or similar applicable provincial legislation, government royalties,

Canadian Prime Rate Advance means a Canadian Advance denominated in Canadian Dollars that bears interest as provided in Section 2.8(a)

Canadian Prime Rate Advance means a Swing Line Loan denominated in Canadian Dollars which bears interest as provided in Section 2.5.2.