Prime Rate Loans definition

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.

Prime Rate Loans means the Loans bearing interest with reference to the Prime Rate.

Prime Rate Loans means the Loans, or portion of them, made available by the Canadian Lenders to the Canadian Borrower outstanding from time to time which are drawn down in Canadian Dollars and in respect of which interest is payable in accordance with Section 4.3.

Examples of Prime Rate Loans in a sentence

• If such notice is given (A) any Eurodollar Rate Loans requested to be made on the first day of such Interest Period shall be made as Prime Rate Loans, (B) any Loans that were to have been converted on the first day of such Interest Period to or continued as Eurodollar Rate Loans shall be converted to or continued as Prime Rate Loans and (C) each outstanding Eurodollar Rate Loan shall be converted, on the last day of the then-current Interest Period thereof, to Prime Rate Loans.

• Interest on Special Agent Advances shall be payable at the Interest Rate then applicable to Prime Rate Loans and shall be payable on demand.

• Any request by Borrower to convert Prime Rate Loans to Eurodollar Rate Loans or to continue any existing Eurodollar Rate Loans shall be irrevocable.

• In the event any Lender shall exercise its rights hereunder, all payments and prepayments of principal which would otherwise have been applied to repay the LIBO Loans that would have been made by such Lender or the converted LIBO Loans of such Lender, shall instead be applied to repay the Prime Rate Loans made by such Lender in lieu of, or resulting from the conversion of, such LIBO Loans.

• Any request by or on behalf of a Borrower for Eurodollar Rate Loans or to convert Prime Rate Loans to Eurodollar Rate Loans or to continue any existing Eurodollar Rate Loans shall be irrevocable.

More Definitions of Prime Rate Loans

Prime Rate Loans means any portion of the Loans bearing interest at Effective Prime.

Prime Rate Loans means any Loans made or a portion thereof on which interest is payable based on the Prime Rate in accordance with the terms hereof.

Prime Rate Loans means Domestic Prime Rate Loans or Canadian Prime Rate Loans, as applicable.

Prime Rate Loans means Loans hereunder during such time as they are made and/or being maintained at a rate of interest based upon the Prime Rate.

Prime Rate Loans means those loans described in Section 3.1(b) hereof on which the Borrowers shall pay interest at the rate based on the Prime Rate.

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

Prime Rate Loans means Loans the rate of interest applicable to which is based on the Prime Rate.