Comerica Prime Rate Loan definition

Comerica Prime Rate Loan or “Comerica Prime Rate Borrowing” means any Floor Plan or Swing Line Loan with respect to which the Company shall have selected an interest rate based on the Comerica Prime-based Rate in accordance with the provisions of this Agreement.
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Examples of Comerica Prime Rate Loan in a sentence

  • Subject to the provisions of Section 5.3, each Comerica Prime Rate Loan shall bear interest at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be) equal to the lesser of (i) the Comerica Prime-based Rate in effect from time to time and (ii) the Highest Lawful Rate.

Related to Comerica Prime Rate Loan

  • Prime Rate Loan means the Loan at such time as interest thereon accrues at a rate of interest based upon the Prime Rate.

  • Canadian Prime Rate Loan means any Loan made to the Borrower in Canadian Dollars which bears interest based upon the Canadian Prime Rate as provided in Section 4.1(a).

  • 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 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.

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

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

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

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

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

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

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

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

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

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

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

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

  • Domestic Rate Loan means any Advance that bears interest based upon the Alternate Base Rate.

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

  • 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.

  • 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.

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(i).

  • Eurocurrency Rate Loan means a Loan that bears interest at a rate based on the Eurocurrency Rate.