Prime Rate Option Advance definition

Prime Rate Option Advance means any advance of funds by Lenders to Borrower hereunder that will bear interest at the Prime Rate Option.
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Prime Rate Option Advance means an Advance as to which the Prime Rate Option was selected.
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Examples of Prime Rate Option Advance in a sentence

  • As used herein, “Advance” means a borrowing requested by Borrower and made by Bank under the Note, including a LIBOR Option Advance and/or a Prime Rate Option Advance.

  • As used herein, “Advance” means a borrowing requested by Borrower and made by Bank under the Loan Agreement, including a LIBOR Option Advance and/or a Prime Rate Option Advance.

  • Each such notice (a "Notice of Revolving Credit Advance") shall be substantially in the form attached hereto as Exhibit J hereto, specifying therein the requested date, the amount of such Revolving Credit Advance, whether it will be a Prime Rate Option Advance or LIBOR Option Advance and such other information as may be required by Agent.

  • As used herein, “Advance” means a borrowing requested by Borrower and made by Bank under the Loan Agreement, including a LIBOR Option Advance and/or a Prime Rate Option Advance (as hereafter defined).

  • If no election is received with respect to a LIBOR Advance by 11:00 a.m. (Atlanta time) on the third (3rd) Business Day prior to the end of the LIBOR Period with respect thereto (or if a Default or an Event of Default shall have occurred and be continuing of if the additional conditions precedent set forth in SECTION 2.2 shall not have been satisfied), that LIBOR Advance shall be converted to an Prime Rate Option Advance at the end of its LIBOR Period.

  • Borrower may prepay a Prime Rate Option Advance at any time, without paying any Prepayment Amount (as defined below).

  • As used herein, "Advance" means a borrowing requested by Borrower and made by Bank under the Note, including a LIBOR Option Advance and/or a Prime Rate Option Advance.

  • Except as set forth in Section 2.3(b), the Advances, each of which shall be a Prime Rate Option Advance or a LIBOR Option Advance as elected by Borrower in accordance with the terms set forth in the LIBOR Addendum to Loan and Security Agreement executed in connection herewith, shall bear interest on the outstanding Daily Balance thereof at the applicable rate set forth in such LIBOR Addendum to Loan and Security Agreement.

  • Except as set forth in Section 2.3(b), the Advances and the Equipment Advances, each of which shall be a Prime Rate Option Advance or a LIBOR Option Advance as elected by Borrower in accordance with the terms set forth in the Amended and Restated LIBOR Addendum to Loan and Security Agreement dated as of May 12, 2005, shall bear interest on the outstanding Daily Balance thereof at the applicable rate set forth in such Amended and Restated LIBOR Addendum to Loan and Security Agreement.

  • As used herein, "Advance" means a borrowing requested by Borrower and made by Bank under Section 2.1(b) of the Loan Agreement, including a LIBOR Option Advance and/or a Prime Rate Option Advance.

Related to Prime Rate Option Advance

  • Base Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(i) [Revolving Credit Base Rate Option].

  • LIBOR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(ii) [Revolving Credit LIBOR Rate Option].

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Revolving Credit Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

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

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • Rate Option means the Eurocurrency Rate or the Floating Rate, as applicable.

  • Euro-Rate Option shall have the meaning set forth in Section 2.04(a)(ii) hereof.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Alternate Base Rate Loans means Loans that bear interest at an interest rate based on the Alternate Base Rate.

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

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • 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.

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • Prime Rate Loan means a Loan that bears interest based on the Prime Rate.

  • LIBOR Tranche means the collective reference to LIBOR Rate Loans whose Interest Periods begin and end on the same day.

  • Alternate Base Rate Loan means a Loan which bears interest at the Alternate Base Rate or the Default Rate.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Base Rate Committed Loan means a Committed Loan that is a Base Rate Loan.