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.

  • 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).

  • 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 Note, including a LIBOR Option Advance and/or a Prime Rate Option Advance.

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

  • Interest on each Prime Rate Option Advance shall be computed on the basis of a three hundred sixty (360) day year for the actual number of days elapsed.

  • The minimum Prime Rate Option Advance will not be less than One Million Dollars ($1,000,000) for any Prime Rate Option Advance.

  • 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.

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

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.

  • 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 2.07(a)(i).

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

  • Rate Option means the Eurodollar Rate or the Floating Rate.

  • 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 the Loan at such time as interest thereon accrues at a rate of interest based upon 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 2.07(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.

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

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