Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

Prime Rate Advance means an Advance in Canadian Dollars bearing interest based on the Prime Rate and includes availments that are deemed to be Prime Rate Advances under this Agreement.

Prime Rate Advance means an Advance that bears interest as provided in Section 2.7(a)(i).

Examples of Prime Rate Advance in a sentence

Each Lender shall forthwith give notice of the making of such a Prime Rate Advance to the Borrower and the Agent (which shall promptly give similar notice to the other Lenders).
Any resulting amount by which the requested face amount of any such Bankers’ Acceptance shall have been so reduced shall be advanced, converted or continued, as the case may be, as a Prime Rate Advance, to be made contemporaneously with the BA Advance.
Notice for a Prime Rate Advance or Base Rate Advance shall be given on or before the Banking Day before the Advance Date or date of payment.
Such Advance shall be a Prime Rate Advance and shall be considered, for all purposes of this Agreement, to comprise part of the Borrowing in connection with which such Defaulted Advance was originally required to have been made pursuant to Section 2.01, even if the other Advances comprising such Borrowing shall be Eurodollar Rate Advances on the date such Advance is deemed to be made pursuant to this subsection (a).
The payment by the Issuing Bank of a draft drawn under any Letter of Credit shall constitute for all purposes of this Agreement the making by the Issuing Bank of a Letter of Credit Advance, which shall be a Prime Rate Advance, in the amount of such draft.

More Definitions of Prime Rate Advance

Prime Rate Advance means a loan made by the Lenders to a Borrower in Canadian Dollars on which interest is payable based on the Prime Rate plus the Applicable Margin;

Prime Rate Advance means an Advance that bears interest based on the Prime Rate.

Prime Rate Advance means any Advance under this Note when and to the extent that its interest rate is determined by reference to the Prime Rate.

Prime Rate Advance means an Advance which the Borrower requests to be made as a Prime Rate Advance or is reborrowed as a Prime Rate Advance, in accordance with the provisions of Section 2.2 hereof, which bears interest at the Prime Rate Basis and which shall be in a principal amount of at least $2,000,000.00, and in an integral multiple of $500,000.00.

Prime Rate Advance means an Advance in Canadian Dollars bearing interest based on the Prime Rate and includes any deemed Prime Rate Advance provided for in this Agreement.