Citibank Prime Rate definition

Citibank Prime Rate means the rate of interest publicly announced from time to time by Citibank, N.A. in New York City, New York, as its "prime rate." Any change in the prime rate announced by Citibank N.A. shall take effect at the opening of business on the day specified in the public announcement of such change.
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Citibank Prime Rate means the rate of interest described as the "prime rate" (or by similar reference) of Citibank, N.A., New York, New York, as determined by such bank's management from time to time as part of its internal procedures. No representation is made by Bank to Borrower that the Citibank Prime Rate is the lowest, the best or a favorable rate.
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Examples of Citibank Prime Rate in a sentence

  • The agreed rate of interest shall be Citibank Prime Rate, plus one percent (1%), as published on the first business day of each month in the Wall Street Journal.

  • The applicable rate of interest shall be adjusted immediately upon any change in the Citibank Prime Rate.

  • If any installment of fixed or additional rent is not paid within ten (10) days after notice that the same was due, it shall bear interest from the due date at the Citibank Prime Rate, as it may be adjusted from time to time, plus two (2) percent per annum, but in no event more that the maximum rate of interest allowed by law, the payment of which shall be additional rent.

  • The Loans shall bear interest from the date of disbursement on the outstanding principal amount thereof until the earlier of an Event of Default or the date upon which such amount shall become due and payable (whether upon Maturity, by Acceleration or otherwise) at a rate per annum equal to the Citibank Prime Rate.

  • Purchaser also shall pay to Seller interest on such amount for the period from the Closing Date to the date of payment at the Citibank Prime Rate.

  • The RRC will bear interest at a rate per annum equal to the Citibank Prime Rate plus 0.00%.

  • The Outstanding Principal Amount and interest due hereunder shall bear interest, from and after the 31st day following the occurrence and during the continuance of an Event of Default hereunder, at the rate equal to the lower of the Citibank Prime Rate per annum plus six (6%) percent or the highest rate permitted by law; PROVIDED that the interest rate of this Debenture shall not be reduced below 5% as a result of this provision.

  • Seller also shall pay to Purchaser interest on such amount for the period from the Closing Date to the date of payment at the annual rate announced from time to time by Citibank, N.A., New York, New York as the base rate charged by it for loans to prime commercial customers (the "Citibank Prime Rate").

  • The Outstanding Principal Amount and interest due hereunder shall bear interest, from and after the 31st day following the occurrence and during the continuance of an Event of Default hereunder, at the rate equal to the lower of the Citibank Prime Rate per annum plus 7% or the highest rate permitted by law.

  • Interest shall accrue on the unpaid principal balance of the Revolving Note at an annual rate equal to the Citibank Prime Rate plus one and one-half percent (1.50%) per annum, with such interest to be calculated on the basis of a 360-day year counting the actual number of days elapsed.