Prime Rate Floor definition

Prime Rate Floor means, in connection with any conversion of the Loan from a LIBOR Loan to a Prime Rate Loan, the difference between (a) the sum of the LIBOR Floor plus the Spread, minus (b) the Prime Rate Spread; provided, however, that if such difference is a negative number, then the Prime Rate Floor shall be zero.
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Prime Rate Floor means, a rate equal to (a) if LIBOR prior to the time of LIBOR’s replacement by the Prime Rate (pursuant to Section 3.02(d)) was less than or equal to the LIBOR Floor at such time, the sum of (i) the Prime Rate in effect at such time of replacement plus (ii) the LIBOR Floor minus LIBOR and (b) if LIBOR prior to the time of LIBOR’s replacement by the Prime Rate (pursuant to Section 3.02(d)) was greater than the LIBOR Floor, the Prime Rate in effect at such time of conversion minus (ii) the difference between LIBOR and the LIBOR Floor.
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Prime Rate Floor means, a rate equal to (a) if LIBORthe Benchmark prior to the time of LIBORthe Benchmark’s replacement by the Prime Rate (pursuant to Section 3.02(d)) was less than or equal to the LIBORBenchmark Floor at such time, the sum of (i) the Prime Rate in effect at such time of replacement plus (ii) the LIBORBenchmark Floor minus LIBORthe Benchmark and (b) if LIBORthe Benchmark prior to the time of LIBORthe Benchmark’s replacement by the Prime Rate (pursuant to Section 3.02(d)) was greater than the LIBORBenchmark Floor, the Prime Rate in effect at such time of conversion minus (ii) the difference between LIBORthe Benchmark and the LIBORBenchmark Floor. “Product” means any of (a) Avance® Nerve Graft of any diameter in 15 millimeter length, (b) Avance® Nerve Graft of any diameter in 30 millimeter length, (c) Avance® Nerve Graft of any diameter in 50 millimeter length, (d) Avance® Nerve Graft of any diameter in 70 millimeter length, (e), AxoGuard® Nerve Connector, (f) AxoGuard® Nerve Protector, (g) Avive® Soft Tissue Membrane and (h) AxoGuard® Nerve Cap, and each of their respective follow-ons, replacements and successors. “Property” of any Person means any property or assets, or interest therein, of such Person. “Proportionate Share” means, with respect to any Lender, the percentage obtained by dividing (a) the sum of the Commitment (or, if the Commitments are terminated, the aggregate outstanding principal amount of the Loans) of such Lender then in effect by (b) the sum of the Commitments (or, if the Commitments are terminated, the aggregate outstanding principal amount of the Loans) of all Lenders then in effect. “Qualified Plan” means an employee benefit plan (as defined in Section 3(3) of ERISA) other than a Multiemployer Plan (a) that is or was at any time maintained or sponsored by any Obligor or any ERISA Affiliate thereof or to which any Obligor or any ERISA Affiliate thereof has ever made, or was ever obligated to make, contributions, and (b) that is intended to be tax qualified under Section 401(a) of the Code. “Real Property Security Documents” means each Landlord Consent, the Mortgage, and any other mortgage or deed of trust or any other real property security document executed or required hereunder to be executed by any Obligor and granting a security interest in real Property owned or leased (as tenant) by any Obligor in favor of the Administrative Agent for the benefit of the Secured Parties. “Recipient” means any Lender or any other recipient of an...
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More Definitions of Prime Rate Floor

Prime Rate Floor means no less than 7.5%.
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Related to Prime Rate Floor

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • Rate Floor The minimum per annum Mortgage Interest Rate permitted under the related Mortgage Note. Rating Agency: Initially, each of S&P and Xxxxx’x and thereafter, each nationally recognized statistical rating organization that has rated the Certificates at the request of the Company, or their respective successors in interest. Ratings: As of any date of determination, the ratings, if any, of the Certificates as assigned by the applicable Rating Agencies.

  • Prime Rate Margin is set forth on Schedule I hereto.

  • Prime Rate of Interest means that rate of interest designated as such by Fleet National Bank of Connecticut, N.A., or any successor thereto, as the same may from time to time fluctuate.

  • 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.

  • LIBOR Floor means 0.00%.

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • U.S. Prime Rate means the rate from time to time publicly announced by Reference Bank, or its successors, as its prime rate, whether or not such announced rate is the best rate available at such bank.

  • Base Rate means, for any day, the rate per annum equal to the higher of (a) the Federal Funds Rate for such day plus one-half of one percent (0.5%) and (b) the Prime Rate for such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Rate.

  • Canadian Prime Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum.

  • Reference Rate means the rate specified as such hereon.

  • Adjusted Prime Rate A rate per annum equal to the sum of (a) the Prime Rate Margin and (b) the greater of (i) the Prime Rate or (ii) one percent (1%) in excess of the Federal Funds Effective Rate. Any change in the Adjusted Prime Rate shall be effective immediately from and after such change in the Adjusted Prime Rate.

  • LIBOR Rate Reserve Percentage means as of any day the maximum percentage in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including supplemental, marginal and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).

  • 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.

  • Eurodollar Rate Reserve Percentage for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.

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

  • Base Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • Strike Rate means a fixed rate of interest under the Cap Agreement that does not exceed the Original Strike Rate. Rate Cap Agreement and Rate Cap Agreement Reserve Fund RIDER TO MULTIFAMILY LOAN AND SECURITY AGREEMENT TRADE NAMES (Revised 3-1-2014) The following changes are made to the Loan Agreement which precedes this Rider:

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • Base LIBOR Rate means the rate per annum, determined by Agent in accordance with its customary procedures, and utilizing such electronic or other quotation sources as it considers appropriate (rounded upwards, if necessary, to the next 1/16%), on the basis of the rates at which Dollar deposits are offered to major banks in the London interbank market on or about 11:00 a.m. (California time) 2 Business Days prior to the commencement of the applicable Interest Period, for a term and in amounts comparable to the Interest Period and amount of the LIBOR Rate Loan requested by Borrower in accordance with this Agreement, which determination shall be conclusive in the absence of manifest error.

  • U.S. Base Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by a commercial Canadian bank selected by the Lender and in effect as its base rate at its principal office in Toronto, Ontario on such day for determining interest rates on Dollar demand commercial loans in Canada, and (b) the sum of the Federal Funds (Effective) Rate plus 0.50% per annum.