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

In the case of each Refunded Swing Line Advance outstanding in Dollars, the applicable Advance of the Revolving Credit used to refund such Swing Line Advance shall be a Prime-based Advance.
Any prepayment of a Prime-based Advance or a Eurodollar-based Advance on the last day of the Interest Period therefor made inaccordance with this Section shall be without premium, penalty or prejudice to Company’s right to reborrow under the terms of this Agreement.
Upon the date for repayment as aforesaid and unless Borrower notifies Bank to the contrary within two (2) Business Days after receiving a notice from Bank pursuant to this Subsection, such outstanding principal amount shall be converted to a Prime-based Advance and such portion of the Term Note shall bear interest at the Prime-based Rate as of the last day of such Interest Period.
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.
The undersigned may prepay all or part of the outstanding balance of any Prime-based Advance under this Note or any Indebtedness hereunder which is bearing interest based upon the Prime Referenced Rate at any such time without premium or penalty.

More Definitions of Prime-based Advance

Prime-based Advance is a Term 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, subject to the terms of this Note.

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

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 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 that bears or is to bear interest at the Prime-Based Rate.