Prime Borrowing Rate definition

Prime Borrowing Rate means a variable per annum rate equal to the Prime Rate.
Sample 1Sample 2Sample 3
Prime Borrowing Rate means the Prime Rate plus one-half of one percent (0.50%). The Prime Borrowing Rate shall be adjusted without notice effective on each date the Prime Rate changes.
Sample 1
Prime Borrowing Rate means a variable interest rate equal to the Prime Rate minus three-quarters of one percent (0.75%) per annum. The Prime Borrowing Rate shall be adjusted without notice effective on each day the Prime Rate changes.
Sample 1Sample 2

Examples of Prime Borrowing Rate in a sentence

  • The rate options are the Prime Borrowing Rate and the LIBOR Borrowing Rate, each as defined herein.

  • The rate options are the Prime Borrowing Rate and the IBOR Borrowing Rate, each as defined herein.

  • Upon default, including failure to pay upon final maturity, Lender, at its option, may also, if permitted under applicable law, increase the interest rate on this note to a rate equal to the Prime Borrowing Rate plus 5%.

  • All prepayments shall be applied first to the Prime Borrowing Rate Amount and then to any LIBOR Borrowing Rate Amounts (in such order as Bank may determine in Bank's absolute discretion), and then to accrued interest.

  • The Prime Borrowing Rate shall be adjusted without notice effective on each day the Prime Rate changes.

  • Each time Borrower requests a Funding, at any time prior to the expiration of each Interest Period for any LIBOR Rate Borrowing, and at any other time with respect to Prime Rate Borrowings, so long as there exists no Event of Default, Borrower may elect either the Prime Borrowing Rate or the LIBOR Borrowing Rate to apply to such Funding, such existing LIBOR Rate Borrowing at the end of the Interest Period, or such existing Prime Rate Borrowing.

  • Notwithstanding anything in this note to the contrary, at no time shall the Prime Borrowing Rate or any LIBOR Borrowing Rate exceed the maximum rate permitted by applicable law.

  • Except for portions of the Principal Balance that are accruing interest at a LIBOR Borrowing Rate, Borrower shall pay interest on the Principal Balance at the Prime Borrowing Rate.

  • If any LIBOR Borrowing Rates are then in effect (i) each shall terminate automatically with respect to the applicable LIBOR Borrowing Rate Amount (a) on the last day of the applicable LIBOR Interest Period, if Bank may lawfully continue to maintain such loans, or (b) immediately if Bank may not lawfully continue to maintain such loans through such day, and (ii) the Prime Borrowing Rate automatically shall become effective as to such amounts upon termination.

  • Notwithstanding anything in this note to the contrary, upon the occurrence of an Event of Default, the Prime Borrowing Rate Amount shall thereafter accrue interest at a Prime Borrowing Rate equal to the Prime Rate plus five percent (5%), and each outstanding LIBOR Borrowing Rate Amount shall accrue interest at a LIBOR Borrowing Rate equal to the LIBOR Rate previously determined by Bank for that LIBOR Borrowing Rate Amount plus six percent (6%).


More Definitions of Prime Borrowing Rate

Prime Borrowing Rate is a per annum rate equal to the Prime Rate plus Zero Percent (0.00%) per annum.
Sample 1
Prime Borrowing Rate. Prime Rate" and "Prime Rate Borrowing" are hereby amended to constitute references to "Reference Borrowing Rate," "Reference Rate" and "Reference Rate Borrowing," respectively.
Sample 1

Related to Prime Borrowing Rate

  • borrowing rate means the interest rate expressed as a fixed or variable percentage applied on an annual basis to the amount of credit drawn down;

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

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

  • Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

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

  • Swingline Rate means, for any Interest Period, the rate as offered by the Administrative Agent and accepted by the Borrower. The Borrower is under no obligation to accept this rate and the Administrative Agent is under no obligation to provide it.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • 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.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

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

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

  • Revolving Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Alternative Currency Loan means an Alternative Currency Daily Rate Loan or an Alternative Currency Term Rate Loan, as applicable.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

  • Pro-Rata Borrowing has the meaning assigned to such term in Section 2.03(a).

  • Base Rate Committed Loan means a Committed Loan that is a Base Rate Loan.