Domestic Prime Rate definition

Domestic Prime Rate means, for any day, the annual rate of interest then most recently announced by Bank of America at its head office in Charlotte, North Carolina as its “prime rate”. The Domestic Prime Rate is a reference rate and does not necessarily represent the lowest or best rate being charged to any customer. Any change in the Domestic Prime Rate due to a change in Bank of America’s prime rate shall be effective on the effective date of such change in Bank of America’s prime rate.
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Domestic Prime Rate means the rate of interest in effect for such day as publicly announced from time to time by the Domestic Administrative Agent as its “prime rate.” Such “prime rate” is a rate set by the Domestic Administrative Agent based upon various factors including the Domestic Administrative Agent’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such “prime rate” announced by the Domestic Administrative Agent shall take effect at the opening of business on the day specified in the public announcement of such change.
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Domestic Prime Rate means the rate that Domestic Administrative Agent announces from time to time as its prime lending rate in the United States for Dollar denominated loans, as in effect from time to time. The Domestic Prime Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. Domestic Administrative Agent or any other Lender may make commercial loans or other loans at rates of interest at, above or below the Domestic Prime Rate.
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Examples of Domestic Prime Rate in a sentence

  • Committed Domestic Loans may be Domestic Prime Rate Loans or LIBO Rate Loans, as further provided herein.

  • All Swing Line Loans made to the Domestic Borrowers shall be only Domestic Prime Rate Loans.

  • All Swing Line Loans made to the Domestic Borrowers or the Foreign Borrower shall be only made in Dollars and shall be only Domestic Prime Rate Loans.

  • Any amount which is added to the principal balance of the applicable Loan Account as provided in this Section 2.02(d) shall be deemed to be a Domestic Prime Rate Loan or a Canadian Prime Rate Loan, as applicable.

  • If the request fails to specify a Type of Committed Loan in a Committed Loan Notice or if the Lead Borrower, the Parent or the Canadian Borrower, as the case may be, fails to give a timely notice of a conversion or continuation of a LIBO Rate Loan or a BA Equivalent Loan, then the applicable Committed Loans shall be made as, or converted to, Domestic Prime Rate Loans or Canadian Prime Rate Loans, as applicable.

  • At any time that Domestic Prime Rate Loans are outstanding, the Administrative Agent shall notify the Lead Borrower and the Domestic Lenders of any change in Bank of America’s prime rate used in determining the Prime Rate promptly following the public announcement of such change.

  • A Permitted Domestic Overadvance is for the account of the Domestic Borrowers and shall constitute a Domestic Prime Rate Loan and an Obligation and shall be repaid by the Domestic Borrowers in accordance with the provisions of Section 2.05(c).

  • Except as provided in Sections 2.03(c) and 2.04(c), each Committed Borrowing of or conversion to Canadian Prime Rate Loans or Domestic Prime Rate Loans, as applicable, shall be in a principal amount of $500,000 or CD$500,000, as applicable, or a whole multiple of $100,000 or CD$100,000, as applicable, in excess thereof.

  • Any such notice, to be effective, must be received by the Agent not later than 11:00 a.m., Local Time, on the third Business Day in the case of LIBO Loans and BA Equivalent Loans prior to, and, in the case of Domestic Prime Rate Loans, Canadian Prime Rate Loans, U.S. Index Rate Loans and UK Swingline Loans, by 11:00 a.m. Local Time on the same Business Day of, the date on which such Borrowing is to be made.

  • If no election is made as to the Type of Loan, such notice shall be deemed a request for a Borrowing of Domestic Prime Rate Loans, Canadian Prime Rate Loans or UK Swingline Loans, as applicable.


More Definitions of Domestic Prime Rate

Domestic Prime Rate means the per annum rate of interest established from time to time by NationsBank as its prime rate, which rate may not be lowest rate charged by NationsBank to its customers;
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Domestic Prime Rate means, for any period, (a) except in the case of Canadian Revolving Loans denominated in Dollars, a fluctuating interest rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the greater of (i) the rate of interest established by National City Bank at its principal office in Cleveland, Ohio, from time to time, as its prime rate, whether or not publicly announced, which interest rate may or may not be the lowest rate charged by it for commercial loans or other extensions of credit; and (ii) the Federal Funds Effective Rate in effect from time to time plus 1/2 of 1% per annum, and (b) in the case of Canadian Revolving Loans denominated in Dollars, a fluctuating interest rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the greater of (i) the rate of interest established by Bank One at its principal office in Chicago, Illinois, from time to time, as its prime rate, whether or not publicly announced, which interest rate may or may not be the lowest rate charged by it for commercial loans or other extensions of credit; and (ii) the Federal Funds Effective Rate in effect from time to time plus 1/2 of 1% per annum.
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Domestic Prime Rate means the per annum rate of interest announced publicly by the Agent as its prime rate from time to time. The Domestic Prime Rate is not necessarily the best or the lowest rate of interest offered by the Agent;
Sample 1
Domestic Prime Rate means, for any period, (a) except in the case of Canadian Revolving Loans denominated in Dollars, a fluctuating interest rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the greater of (i) the rate of interest established by National City Bank at its principal office in Cleveland, Ohio, from time to time, as its prime rate, whether or not publicly announced, which interest rate may or may not be the lowest rate charged by it for commercial loans or other extensions of credit; and (ii) the Federal Funds Effective Rate in effect from time to time plus 1/2 of 1% per annum, and (b) in the case of Canadian Revolving Loans denominated in Dollars, a fluctuating interest rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the greater of (i) the rate of interest established by Chase Bank at its principal office in New York, New York, from time to time, as its prime rate, whether or not publicly announced, which interest rate may or may not be the lowest rate charged by it for commercial loans or other extensions of credit; and (ii) the Federal Funds Effective Rate in effect from time to time plus 1/2 of 1% per annum.
Sample 1
Domestic Prime Rate means, for any period, a fluctuating interest rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the greater of (i) the rate of interest established by the Domestic Administrative Agent at its principal office, from time to time, as its prime rate, whether or not publicly announced, which interest rate may or may not be the lowest rate charged by it for commercial loans or other extensions of credit; and (ii) the Federal Funds Effective Rate in effect from time to time plus 1/2 of 1% per annum.
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Related to Domestic Prime Rate

  • U.S. Prime Rate means the per annum rate of interest announced by the Agent, at its main office from time to time as its "prime rate" (it being acknowledged that such announced rate may not necessarily be the lowest rate charged by the Agent to any of its customers), which U.S. Prime Rate shall change simultaneously with any change in such announced rate.

  • 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.

  • Prime Rate means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • Domestic Rate means for any day the greater of:

  • Prime Rate Margin is one-half of one percent (0.50%).”

  • Adjusted Prime Rate A rate per annum equal to the sum of (a) the Prime Rate Margin and (b) the greater of (i) the Prime Rate or (ii) one percent (1%) in excess of the Federal Funds Effective Rate. Any change in the Adjusted Prime Rate shall be effective immediately from and after such change in the Adjusted Prime Rate.

  • Reference Rate means the rate specified as such hereon.

  • Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of:

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

  • Canadian Base Rate means at any time, the greater of (a) the Canadian Prime Rate and (b) except during any period of time during which a notice delivered to Centuri under Section 5.8 shall remain in effect, the annual rate of interest equal to the sum of (i) the CDOR Rate for an Interest Period of one month at such time plus (ii) one percent (1%) per annum; each change in the Canadian Base Rate shall take effect simultaneously with the corresponding change or changes in the Canadian Prime Rate or the CDOR Rate, as applicable.

  • U.S. Base Rate means, for any day, the rate of interest per annum equal to the greater of (a) the interest rate per annum publicly announced from time to time by the Administrative Agent as its reference rate in effect on such day at its principal office in Toronto for determining interest rates applicable to commercial loans denominated in U.S. Dollars in Canada (each change in such reference rate being effective from and including the date such change is publicly announced as being effective) and (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%.

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Straight-time rate means the hourly rate of remuneration.

  • 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.

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

  • CDOR Rate is defined in the definition of “Eurocurrency Rate” herein.

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

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • Applicable Eurocurrency Margin means, as at any date of determination, the rate per annum then applicable to Eurocurrency Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • 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.

  • LIBO Base Rate means with respect to each day an Advance is outstanding (or if such day is not a Business Day, the next succeeding Business Day), the rate per annum equal to the rate published by Bloomberg or if such rate is not available, the rate appearing at page 3750 of the Telerate Screen as one-month LIBOR on such date, and if such rate shall not be so quoted, the rate per annum at which the Lender is offered Dollar deposits at or about 11:00 A.M., eastern time, on such date by prime banks in the interbank eurodollar market where the eurodollar and foreign currency and exchange operations in respect of its Advances are then being conducted for delivery on such day for a period of one month and in an amount comparable to the amount of the Advances to be outstanding on such day.

  • Debt Rate means, with respect to (i) any Series of Equipment Notes, the rate per annum specified for such Series under the heading “Interest Rate” in Schedule I to the Trust Indenture (as amended, in the case of any Additional Series, at the time of original issuance of such Additional Series), and (ii) any other purpose, with respect to any period, the weighted average interest rate per annum during such period borne by the outstanding Equipment Notes, excluding any interest payable at the Payment Due Rate.

  • Eurocurrency Base Rate means, for such Interest Period:

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