Prime Rate Interest Period definition

Prime Rate Interest Period means with respect to any Prime Rate Loan, the period ending on the last day of each month, provided, however, that (i) if any Prime Rate Interest Period would end on a day which is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day, and (ii) if any Prime Rate Interest Period would otherwise end after the Maturity Date such Interest Period shall end on the Maturity Date.
Sample 1Sample 2Sample 3
Prime Rate Interest Period. With respect to any Advance on the Revolving Loan which is a Prime Rate Loan, the period ending on the last Business Day of each month; provided, however, that (A) if any Prime Rate Interest Period would end on a day which is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day, and (B) if any Prime Rate Interest Period would otherwise end after the Maturity Date such Interest Period shall end on the Maturity Date.
Sample 1Sample 2
Prime Rate Interest Period for a Prime Rate Tranche, means a period of time beginning with an Effective Date, of 365 days in length, selected by Borrower by telephone or in writing (and if by telephone, confirmed by Borrower the same day by facsimile) during which the Interest Rate for such Prime Rate Tranche is the Adjusted Prime Rate. If the Prime Rate Interest Period would otherwise end on a day that is not a Business Day, such Prime Rate Interest Period shall be extended to the next Business Day, unless such Business Day would fall into the next calendar month, in which event such Prime Rate Interest Period shall end on the immediately preceding day.
Sample 1Sample 2

Examples of Prime Rate Interest Period in a sentence

  • The period of time during which the Prime Rate shall be applicable shall be a Prime Rate Interest Period.

  • Such telephonic notice shall inform Bank of the amount of the Borrowings to be subject to the Prime Rate Election, the Prime Rate Interest Period (as defined below) and the Effective Date for the Prime Rate Interest Period.

  • The interest in respect of each Prime Rate Loan shall be payable on the last day of each Prime Rate Interest Period.

  • Such telephonic notice shall inform Bank of the amount of the Borrowings to be subject to the Prime Rate Election, the Prime Rate Interest Period and the Effective Date for the Prime Rate Interest Period.

  • If the Prime Rate Interest Period would otherwise end on a day that is not a Business Day, such Prime Rate Interest Period shall be extended to the next business Day, unless such Business Day would fall into the next calender month, in which event such Prime Rate Interest Period shall end on the immediately preceding day.


More Definitions of Prime Rate Interest Period

Prime Rate Interest Period means any period with respect to which the Borrowers make a Prime Rate Election or the Borrowers have made an Interest Rate Election which has expired and the Borrowers have failed to make an alternate Interest Rate Election. If a Prime Rate Interest Period would otherwise end on a day which is not a business day, such Prime Rate Interest Period shall end on the next succeeding business day.
Sample 1Sample 2Sample 3
Prime Rate Interest Period. - for a Prime Rate Tranche, means a period of time beginning with an Effective Date, of 365 days in length, selected by Borrower by telephone or in writing (and if by telephone, confirmed by Borrower the same day be facsimile) during which the Interest Rate for such Prime Rate Tranche is the Adjusted Prime Rate. If the Prime Rate Interest Period would otherwise end on a day that is not a Business Day, such Prime Rate Interest Period shall be extended to the next business Day, unless such Business Day would fall into the next calender month, in which event such Prime Rate Interest Period shall end on the immediately preceding day.
Sample 1Sample 2
Prime Rate Interest Period. With respect to any Prime Rate Loan, the -------------------------- quarterly period ending on the first (1st) day of each February, May, August and November, provided, however, that (i) if any Prime Rate Interest -------- ------- Period would end on a day that is not a Business Day, such Prime Rate Interest Period shall be extended to the next succeeding Business Day, and (ii) if any Prime Rate Interest Period would otherwise end after the Advance Term Loan Maturity Date or Revolving Maturity Date, as applicable, then such Prime Rate Interest Period shall end on the Advance Term Loan Maturity Date or Revolving Maturity Date, respectively.
Sample 1
Prime Rate Interest Period for a Prime Rate Tranche, means a period of time beginning with an Effective Date, of 365 days in length, selected by Borrower by telephone or in writing (and if by telephone, confirmed by Borrower the same day be facsimile) during which the Interest Rate for such
Sample 1
Prime Rate Interest Period means any period that does not extend beyond the Maturity Date.
Sample 1
Prime Rate Interest Period. With respect to any Prime Rate Loan, the -------------------------- quarterly period ending on the first (1st) day of each February, May, August and November, provided, however, that (i) if any Prime Rate Interest Period would -------- ------- end on a day that is not a Business Day, such Prime Rate Interest Period shall be extended to the next succeeding Business Day, and (ii) if any Prime Rate Interest Period would otherwise end after the Advance Term Maturity Date or Revolving Maturity Date, as applicable, then such Prime Rate Interest Period shall end on the Advance Maturity Date or Revolving Maturity Date, respectively. Prime Rate Loan - Any Loan, or a portion thereof, during any period that --------------- bears interest at the Prime Rate plus the Prime Rate Margin, or which would bear ---- interest at such rate if the Maximum Rate ceiling was not in effect at a particular time. Prime Rate Margin - One-fourth of one percent (0.25%) whenever the Funded ----------------- Debt Ratio is less than 1.0:1.0; one-half of one percent (0.50%) whenever the Funded Debt Ratio is equal to or greater than 1.0:1.0, but less than 2.0:1.0; and one percent (1.00%) whenever the Funded Debt Ratio is 2.0:1.0 or greater. Revolving Loan - The Loan or loans made under the Revolving Loan Commitment -------------- pursuant to Section 2(b). Revolving Loan Commitment - The commitment contained in Section 2(b) of ------------------------- this Agreement. AMENDED AND RESTATED LOAN AGREEMENT - Page 15 Revolving Maturity Date - June 30, 1998. ----------------------- Revolving Note - That certain $2,500,000 revolving note described in -------------- Section 3(a).
Sample 1
Prime Rate Interest Period means, with respect to any Prime Rate Loan, the period ending on the last day of each calendar quarter, provided, however, that (i) if any Prime Rate Interest Period would end on a day that is not a Business Day, such Interest Period shall end on the next succeeding Business Day, and (ii) if any Prime Rate Interest Period would otherwise end after the Maturity Date, such Interest Period shall end on the Maturity Date.
Sample 1