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.