Prime-based Advance means an Advance which bears interest at the Prime-based Rate.

Prime-based Advance means an Advance which bears interest at the Prime Referenced Rate plus the Applicable Margin.

Prime-based Advance means an Advance (including a Swing Line Advance) which bears interest at the Prime-based Rate.

Examples of Prime-based Advance in a sentence

The interest rate with respect to any Prime-based Advance shall change on the effective date of any change in the Prime-based Rate.
Upon the date for repayment as aforesaid and unless Company notifies Agent to the contrary within two (2) Business Days after receiving a notice from Agent pursuant to this Section, such outstanding principal amount shall be converted to a Prime-based Advance as of the last day of such Interest Period.
Such Prime-based Advance shall be deemed disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Advance set forth in Section 2 hereof and, to the extent of the Advances so disbursed, the reimbursement obligation of the Company or the applicable Account Party under this Section 3.6 shall be deemed satisfied.
Company acknowledges that, in connection with any repayment required hereunder, it shall also be responsible for the reimbursement of any prepayment or other costs required under Section 12.1 hereof; provided, however, that Company shall, in order to reduce any such prepayment costs and expenses, first prepay such portion of the Indebtedness then carried as a Prime-based Advance, if any.
Each Swing Line Advance shall mature and the principal amount thereof shall be due and payable by the Company in the case of any Quoted Rate Advance, on the last day of the Interest Period applicable thereto (if any) and, in the case of any Prime-based Advance, on the Revolving Credit Maturity Date.

More Definitions of Prime-based Advance

Prime-based Advance means an Advance of which the Applicable Interest Rate is based on the Prime Referenced Rate, subject to the terms of this Note.

Prime-based Advance means an Advance which bears interest at the Prime Referenced Rate plus the Applicable Margin, subject to the terms of this Agreement.

Prime-based Advance means an Advance which bears interest at the Prime-based Rate. “Prime-based Rate” means for any day, that rate of interest which is equal to the Applicable Margin plus the Prime Rate.

Prime-based Advance has the meaning set forth in the Interest Rate Addendum.

Prime-based Advance means an Advance bearing interest at the Prime-Based Rate.

Prime-based Advance means an Advance that bears or is to bear interest at the Prime-Based Rate.

Prime-based Advance means an Advance which bears interest at the Prime-based Rate or the Canadian Prime Rate, with respect to the Canadian Subfacility, as the case may be.