Prime Rate Borrowing Tranche definition

Prime Rate Borrowing Tranche means any Borrowing Tranche which accrues interest at the Prime Rate.
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Prime Rate Borrowing Tranche means all Prime Rate fundings in the aggregate which accrue interest at the Prime Rate. Notwithstanding anything to the contrary contained herein, no Prime Rate Borrowing Tranches will be permitted hereunder except as may be required pursuant to Sections 3.3.2 or 3.4.
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Examples of Prime Rate Borrowing Tranche in a sentence

  • The Prime Rate shall thereafter fluctuate in accordance with any changes to the Prime Rate as published from time to time during the term of the Prime Rate Borrowing Tranche.

  • No Prime Rate Borrowing Tranche may remain outstanding in excess of thirty (30) days at any one time.

  • Notwithstanding anything to the contrary contained herein, (i) no Prime Rate Borrowing Tranche will be permitted hereunder except as may be required pursuant to Sections 4.3.2 or 4.4, and (ii) in no event will Borrower be entitled to more than 1 Borrower Advance.

  • For the purpose of determining whether any applicable law limiting the amount of interest or other charges permitted to be collected from Borrower has been violated, all Indebtedness that constitutes interest, as well as all other charges made in connection with the Indebtedness that constitute interest, shall be deemed to be allocated and spread ratably over each Base Rate Borrowing Tranche and Prime Rate Borrowing Tranche comprising this Note, if any, over the stated term of this Note.

  • The holder of this Note is authorized to record on Schedule A annexed hereto and incorporated herein by reference, or on a continuation thereof, the date, and the correct amount of each Base Rate Borrowing Tranche and Prime Rate Borrowing Tranche made pursuant to the Credit Agreement; provided, however, that the failure to make any such recordation shall not affect the obligations of Lender or Borrower in respect of such Base Rate Borrowing Tranche and Prime Rate Borrowing Tranche.

  • No advance made as part of a Prime Rate Borrowing Tranche may remain outstanding in excess of thirty (30) days at any one time.

  • No Prime Rate Borrowing Tranche may remain outstanding in excess of 30 days at any one time.

  • The amount of the monthly installment of interest only payable pursuant to this Section 3(d) on an Installment Due Date shall equal the sum of the annual interest on the unpaid principal balance of each Base Rate Borrowing Tranche and Prime Rate Borrowing Tranche outstanding from time to time during the Interest Period immediately preceding the Installment Due Date at the applicable Adjustable Interest Rate(s) in effect for such Interest Period, divided by 360, for each of the days in such Interest Period.

  • If at the time of any such selection or ---------------------- renewal the period of time remaining prior to the Required Maturity Date is less than thirty (30) days, then such Borrowing Tranche shall be deemed a Prime Rate Borrowing Tranche.

  • The initial Prime Rate applicable to any Prime Rate Borrowing Tranche required under Sections 4.3.2 or 4.4 shall equal the Prime Rate as of the Borrowing Date or Renewal Date, as applicable.

Related to Prime Rate Borrowing Tranche

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

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

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

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

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

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

  • 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.

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

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

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

  • Prime Rate Loans means any Loans or portion thereof on which interest is payable based on the Prime Rate in accordance with the terms thereof.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Canadian Prime Rate Loans means any Canadian Dollar Revolving Loan during the period which it bears interest at a rate determined by reference to the Canadian Prime Rate.

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

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

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

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

  • Canadian Prime Rate Loan means any Loan made to the Borrower in Canadian Dollars which bears interest based upon the Canadian Prime Rate as provided in Section 4.1(a).

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(i).

  • Prime Rate Loan means the Loan at such time as interest thereon accrues at a rate of interest based upon the Prime Rate.

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

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