Prime Rate Credit Extension definition

Prime Rate Credit Extension means a Credit Extension that bears interest based at the Prime Rate plus the Prime Rate Margin.
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Prime Rate Credit Extension means an Advance or Acquisition Loan that bears interest based on the Prime Rate plus the Prime Rate Margin.
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Prime Rate Credit Extension means a Credit Extension that bears interest based at the Prime Rate plus the Prime Rate Margin. “Prime Rate Margin” is one percent (1.0%).
Sample 1

Examples of Prime Rate Credit Extension in a sentence

  • Each Credit Extension shall, at Borrower’s option in accordance with the terms of this Agreement, be either in the form of a Prime Rate Credit Extension or a LIBOR Credit Extension; provided that in no event shall Borrower maintain at any time LIBOR Credit Extension having more than two (2) different Interest Periods.

  • Each Credit Extension shall, at Borrower’s option in accordance with the terms of this Agreement, be either in the form of a Prime Rate Credit Extension or a LIBOR Credit Extension; provided that in no event shall Borrower maintain at any time LIBOR Credit Extension having more than one (1) different Interest Period.

  • Whenever Borrower desires a Credit Extension, Borrower will notify Servicing Agent by facsimile transmission or telephone no later than 1:00 p.m. Central time, one (1) Business Day before the Business Day on which a Prime Rate Credit Extension is to be made and 2:00 p.m. Central Time on the Business Day that is three (3) Business Days prior to the Business Day a LIBOR Rate Credit Extension is to be made.

  • Each Credit Extension shall, at Borrower’s option in accordance with the terms of this Agreement, be either in the form of a Prime Rate Credit Extension or a LIBOR Credit Extension; provided that in no event shall Borrower maintain at any time LIBOR Credit Extensions having more than two (2) different Interest Periods.

  • Each Credit Extension shall, at Borrower’s option in accordance with the terms of this Agreement, be either in the form of a Prime Rate Credit Extension or a LIBOR Credit Extension; provided, however, that in no event shall Borrower maintain at any time LIBOR Credit Extensions having more than two (2) different Interest Periods.

  • Borrower hereby confirms that (A) the Existing Term Advance shall be a Prime Rate Credit Extension and (B) the Selected Amortization Number for the Existing Term Advance shall be twenty (20).

  • Each Credit Extension shall, at Borrower’s option in accordance with the terms of this Agreement, be either in the form of a Prime Rate Credit Extension or a LIBOR Credit Extension.

Related to Prime Rate Credit Extension

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Revolving Credit Extension Request shall have the meaning provided in Section 2.14(f)(ii).

  • Credit Extension Date means the Borrowing Date for an Advance or the issuance date for a Facility LC.

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Base Rate Committed Loan means a Committed Loan that is a Base Rate Loan.

  • Swingline Rate means, for any Interest Period, the rate as offered by the Administrative Agent and accepted by the Borrower. The Borrower is under no obligation to accept this rate and the Administrative Agent is under no obligation to provide it.

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

  • Credit Extension means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • 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.

  • Total Revolving Extensions of Credit at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving Lenders outstanding at such time.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Revolving Credit Period means the period from and including the Effective Date to but excluding the Termination Date.

  • Request for Credit Extension means (a) with respect to a Borrowing, conversion or continuation of Committed Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

  • 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.

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • Credit Extensions mean each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

  • Extension of Credit means, as to any Lender, the making of a Loan by such Lender (or a participation therein by a Lender) or the issuance of, or participation in, a Letter of Credit by such Lender.

  • 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).

  • Eurodollar Rate Committed Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of “Eurodollar Rate.”

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

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