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.
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.
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 2.3(e)) 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 2.3(e)) was greater than the LIBOR Floor, (i) the Prime Rate in effect at such time of conversion minus (ii) the difference between LIBOR and the LIBOR Floor.
More Definitions of Prime Rate Floor
Prime Rate Floor means a rate equal to (a) if the then current Benchmark prior to the time of such Benchmark’s replacement by the Prime Rate (pursuant to Section 2.3(e)) was less than or equal to the Floor at such time, the sum of (i) the Prime Rate in effect at such time of replacement plus (ii) the Floor minus such Benchmark and (b) if the then current Benchmark prior to the time of such Benchmark’s replacement by the Prime Rate (pursuant to Section 2.3(e)) was greater than (i) the Floor, the Prime Rate in effect at such time of conversion minus (ii) the difference between such Benchmark and the Floor.
Prime Rate Floor means no less than 7.5%.
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...