Canadian Prime Rate Revolver Loan definition

Canadian Prime Rate Revolver Loan any Canadian Revolver Loan that bears interest based on the Canadian Prime Rate.
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Examples of Canadian Prime Rate Revolver Loan in a sentence

  • Each Canadian Swingline Loan shall constitute a Canadian Prime Rate Revolver Loan or a Canadian Base Rate Loan, as applicable, for all purposes, except that payments thereon shall be made to Agent (acting through its Canada branch) for its own account.

  • If, upon the expiration of any Interest Period for any Canadian BA Rate Loan, Canadian Borrowers shall have failed to deliver a Notice of Conversion/Continuation, it shall be deemed to have elected to convert such Canadian Revolver Loan into a Canadian Prime Rate Revolver Loan.

  • Upon receipt of such notice, Borrower Agent may revoke any pending request for an Interest Period Loan or, failing that, will be deemed to have requested a Canadian Prime Rate Revolver Loan or U.S. Base Rate Revolver Loan, as applicable.

  • Canadian Overadvance Loan: a Canadian Prime Rate Revolver Loan made when a Canadian Overadvance exists or is caused by the funding thereof.

  • To fulfill any request for a Canadian Prime Rate Revolver Loan hereunder, Agent (as regards Canadian Swingline Loans, acting through its Canada branch) may in its discretion advance Canadian Swingline Loans to Canadian Borrowers, up to the aggregate outstanding amount of $5,000,000.

  • If, upon the expiration of any Interest Period for any Canadian BA Rate Loan or Canadian LIBOR Loans, Canadian Borrowers shall have failed to deliver a Notice of Conversion/Continuation, they shall be deemed to have elected to convert such Canadian Revolver Loan into a Canadian Prime Rate Revolver Loan if such Revolver Loan is denominated in Canadian Dollars and into a Canadian Base Rate Revolver Loan if such Revolver Loan is denominated in Dollars.

  • If, upon the expiration of any Interest Period for any Canadian BATerm CORRA Rate Loan, Canadian Borrowers shall have failed to deliver a Notice of Conversion/Continuation, it shall be deemed to have elected to convert such Canadian Revolver Loan into a Canadian Prime Rate Revolver Loan.

  • Until such notice has been withdrawn (and in any event following the CDOR Scheduled Unavailability Date) and a BA Successor Rate has been determined in accordance with Section 3.6.3, Lenders shall have no obligation to make a Canadian BA Rate Loan or maintain outstanding Canadian BA Rate Loans and no Borrower shall have the right to convert a Canadian Prime Rate Revolver Loan into a Canadian BA Rate Loan.

Related to Canadian Prime Rate Revolver Loan

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

  • 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 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).

  • LIBOR Revolver Loan a Revolver Loan that bears interest based on LIBOR. License: any license or agreement under which an Obligor is authorized to use Intellectual Property in connection with any manufacture, marketing, distribution or disposition of Collateral, any use of Property or any other conduct of its business.

  • 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 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.

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

  • 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.

  • Revolver Loan a loan made pursuant to Section 2.1, and any Swingline Loan, Overadvance Loan or Protective Advance.

  • 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.

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

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

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

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference 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.

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

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

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Canadian Swingline Loan means a Swingline Loan made to the Canadian Borrower.

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

  • Revolving Credit Loan has the meaning specified in Section 2.01(b).

  • Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.