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 means, at any time, the rate of interest per annum publicly announced from time to time by the Lender then acting as the Administrative Agent as its prime rate. Each change in the Prime Rate shall be effective as of the opening of business on the day such change in such prime rate occurs. The parties hereto acknowledge that the rate announced publicly by the Lender acting as Administrative Agent as its prime rate is an index or base rate and shall not necessarily be its lowest or best rate charged to its customers or other banks.

Prime Rate means the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by the Administrative Agent) or any similar release by the Federal Reserve Board (as determined by the Administrative Agent). Each change in the Prime Rate shall be effective from and including the date such change is publicly announced or quoted as being effective.

Examples of Prime Rate in a sentence

For example, if we apply a Prime Rate change on 1/1, the first billing cycles subject to that change will have start dates of 1/1 or later.
Furthermore, if any REVSOFR30 Rate Loan is outstanding on the date of the Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability Period applicable to such REVSOFR30 Rate Loan, then until such time as a Benchmark Replacement is implemented pursuant to this Section 2.19, any REVSOFR30 Rate Loan shall on and from such day be converted by the Administrative Agent to, and shall constitute a Loan bearing interest at the Prime Rate.
The interest rate for the Note will be based on the Prime Rate and will be calculated in the manner set forth in the Note.
The APR for your Account will equal the sum of a Margin (such as 21.49%) and the US Prime Rate as published in The Wall Street Journal (such as 7.75%).
The applicable REVSOFR30 Rate or Prime Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.

More Definitions of Prime Rate

Prime Rate means a rate per annum equal to the prime rate of interest announced from time to time by Bank One or its parent (which is not necessarily the lowest rate charged to any customer), changing when and as said prime rate changes.

Prime Rate means the rate of interest announced by The Wall Street Journal from time to time as the “Prime Rate”.

Prime Rate means the rate of interest quoted in The Wall Street Journal, Money Rates Section, as the “U.S. Prime Rate” (or its successor), as in effect from time to time. The Prime Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. The Administrative Agent or any Lender may make commercial loans or other loans at rates of interest at, above, or below the Prime Rate.

Prime Rate means the per annum interest rate established by Bank as its prime rate for its borrowers, as such rate may vary from time to time, which rate is not necessarily the lowest rate on loans made by Bank at any such time.

Prime Rate means the variable rate of interest, per annum, most recently announced by Bank, as its "prime rate," whether or not such announced rate is the lowest rate available from Bank.