Prime Rate Option shall have the meaning assigned to that term in Section 2.5(a) hereof.

Prime Rate Option. A rate per annum (computed on the basis of a year of 360 days and actual days elapsed) for each day equal to the Prime Rate.

Prime Rate Option. The Rate Option in which interest is calculated based on the Prime Rate.

Examples of Prime Rate Option in a sentence

At any time the LIBOR Option is in effect, Borrower may, at the end of the applicable LIBOR Period, convert to the Prime Rate Option.
At any time the Prime Rate Option is in effect, Borrower may convert to the LIBOR Option, and shall designate a LIBOR Period.
If no specific designation of interest is made at the time any Advance is requested under the Loan Agreement or at the end of any LIBOR Period, Borrower shall be deemed to have selected the Prime Rate Option for such Advance or the principal amount to which such LIBOR Period applied.
Any outstanding principal balance of the Loan Agreement which is bearing interest at such time at the Prime Rate Option may be prepaid without penalty or premium.
At any time the Prime Rate Option is in effect, Borrower may convert to the LIBOR OPTION, and shall designate a LIBOR Period.

More Definitions of Prime Rate Option

Prime Rate Option. A rate per annum for each day equal to the Prime Rate. -----------------

Prime Rate Option. As defined in Section 2.3(a).

Prime Rate Option means one of the two interest rates available to the Co-Borrowers as provided for and described in Section 2.04(i)(a) and Section 2.04(i)(b) of this Loan Agreement.

Prime Rate Option. A fluctuating rate per annum for each day equal to the Prime Rate of the Agent, in effect from time to time (such interest rate to change immediately upon any change in the Prime Rate) plus the Applicable Margin for such day; or

Prime Rate Option. A fluctuating rate per annum ------------------ (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) equal to the Prime Rate plus 0.5%, such interest rate to change automatically from time to time effective as of the effective date of each change in the Prime Rate.

Prime Rate Option. A rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be) for each day equal to the Prime Rate plus 0.125% for such day.