Prime Loan definition

Prime Loan means any Loan when and to the extent that the interest rate therefor is determined by reference to the Prime Rate.

Prime Loan or “Prime Loans” shall mean that portion, and collectively, those portions of the aggregate outstanding principal balance of the Loans that bear interest at the Prime Rate plus the Applicable Margin.

Prime Loan means a Loan bearing interest at the Regular Rate.

Examples of Prime Loan in a sentence

• Borrower may request that a Loan be a LIBOR Loan, if herein allowed (including conversion of a Prime Loan to a LIBOR Loan, or continuation of a LIBOR Loan as a LIBOR Loan upon the expiration of the Interest Period).

• In addition, at the Borrower’s option, each existing LIBOR Loan shall be immediately (i) converted to a Prime Loan on the last Business Day of the then existing Interest Period or on such earlier date as required by law, or (ii) due and payable on the last Business Day of the then existing Interest Period or on such earlier date as required by law, all without further demand, presentment, protest or notice of any kind, all of which are hereby waived by the Borrower.

• A request for a Prime Loan must be received by no later than 11:00 a.m. Chicago, Illinois time, on the day it is to be funded.

• In addition, at the Borrower’s option, each existing LIBOR Loan shall be immediately (i) converted to a Prime Loan on the last Business Day of the then existing Interest Period, or (ii) due and payable on the last Business Day of the then existing Interest Period, without further demand, presentment, protest or notice of any kind, all of which are hereby waived by the Borrower.

• The proceeds of each Prime Loan or LIBOR Loan shall be made available at the office of the Bank by credit to the account of the Borrower or by other means requested by the Borrower and acceptable to the Bank.

More Definitions of Prime Loan

Prime Loan means an Advance in, or Conversion into, Canadian Dollars made by the Applicable Lenders to the Borrower under a Credit Facility with respect to which the Borrower has specified or a provision hereof requires that interest is to be calculated by reference to the Prime Rate.

Prime Loan means a Receivable classified by the Originator and the Seller at origination as a “Prime Loan” in accordance with the Originator’s Underwriting Policy and the Credit and Collection Policy, that has been assigned a LendingClub loan grade in accordance with the foregoing, and that satisfies the “Credit Criteria” for such “Receivables Product” as each of the foregoing terms is defined in the Receivables Purchase Agreement.

Prime Loan means any Loan tied to the Prime Rate. A Loan hereunder shall be a Prime Loan any time it is not a LIBOR Loan.

Prime Loan means a Single Family Mortgage Loan which is secured by a first-lien or second-lien Mortgage and is a Conforming Loan, FHA Loan or VA Loan.

Prime Loan means any loan under this Agreement bearing interest at a rate based upon the Prime Rate.

Prime Loan means an Advance in Cdn. Dollars for which the Prime Rate is the reference interest rate;

Prime Loan means any Revolving Credit Loan tied to the Prime Rate.