Prime Rate Revolving Loan definition

Prime Rate Revolving Loan means a Revolving Loan that bears interest based on the Prime Rate.
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Prime Rate Revolving Loan means the applicable portion of the Revolving Loans bearing interest, as of any date, at a rate determined by reference to the applicable Prime-Based Rate.
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Prime Rate Revolving Loan means a Revolving Loan or any portion thereof during any period in which it bears interest at a rate determined with reference to the Prime Rate.
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Examples of Prime Rate Revolving Loan in a sentence

  • Each Canadian Prime Rate Revolving Loan when made shall be in a minimum principal amount of C$100,000; provided that a Canadian Prime Rate Revolving Loan may be made in a lesser aggregate amount that is (x) equal to the entire aggregate unused balance of the relevant Commitment or (y) required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.05(e).

  • Until each Initial Revolving Lender funds its ABR Revolving Loan, Canadian Base Rate Revolving Loan or Canadian Prime Rate Revolving Loan, as applicable, or risk participation pursuant to this Section 2.24 to refinance such Initial Revolving Lender’s Applicable Percentage of any Swingline Loan, interest in respect of such Applicable Percentage shall be solely for the account of the Swingline Lender.

  • Until a Multicurrency Facility Lender funds its Canadian Prime Rate Revolving Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Pro rata Share of any Multicurrency Facility Swing Line Loan, interest in respect of such Pro rata Share shall be solely for the account of the Multicurrency Facility Swing Line Lender.

  • In respect of the accounts of an Obligor opened and maintained with the Bank, whenever a cheque or other item is presented for payment against such account in an amount greater than the then available balance in such account (an “Overdraft Loan”), such presentation shall be deemed to constitute a Notice of Borrowing for a Loan on the date of such notice in the amount of such Overdraft Loan (or the Equivalent Amount thereof), bearing interest by reference to the Prime Rate Revolving Loan.

  • Each Canadian Prime Rate Revolving Loan when made shall be in a minimum principal amount of C$100,000.

  • Each drawing under any Canadian Letter of Credit shall constitute a request by the Canadian Borrower to the Agent for a Borrowing of a Canadian Prime Rate Revolving Loan in the amount of such drawing.

  • Borrowers hereby irrevocably authorize Agent, in Agent’s sole discretion, to advance to Borrowers, and to charge to Borrowers’ Loan Account hereunder as a Revolving Credit Loan (which shall be a Prime Rate Revolving Loan), a sum sufficient to pay all interest accrued on the Obligations during the immediately preceding month and to pay all fees, costs and expenses and other Obligations at any time owed by any Borrower to Agent or any Lender hereunder.

  • If the Agent elects, to have the terms of this Section 1.4(h) apply to a requested Borrowing for a Prime Rate Revolving Loan or a Base Rate Revolving Loan, as applicable, the Swingline Lender shall make a Revolving Loan in the amount of that Borrowing available to the Borrower on the applicable Funding Date by transferring same day funds to the applicable Designated Account.

  • INTEREST 133.1. Interest Rates 13 3.1.1.Revolving Loan 13 3.1.2.Same Day Prime Rate Revolving Loan 14 3.1.3.Term Loan 14 3.1.4.Rates 143.2. Default Interest 153.3. Interest Payment Dates 153.4. Setting and Notice of SOFR Interest Rates 153.5. Computation of Interest 153.6. Initial Interest Period for Term SOFR Loans 15SECTION 4.

  • Each Canadian Lender shall transfer its Pro Rata Share of the requested Borrowing to the Agent in immediately available funds (in CDN Dollars if the requested Borrowing is a Canadian Prime Rate Revolving Loan or a BA Equivalent Revolving Loan and in U.S. Dollars if the requested Borrowing is an ABR Revolving Loan or a LIBOR Revolving Loan), to the account in Canada from time to time designated by the Agent, not later than 1:00 p.m. (Toronto time) on the applicable Funding Date.


More Definitions of Prime Rate Revolving Loan

Prime Rate Revolving Loan means a Revolving Loan which bears interest based on Prime Rate.
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Prime Rate Revolving Loan means a Revolving Loan that is a Prime Rate Loan and "PRIME RATE TERM LOAN" shall mean a Term Loan that is a Prime Rate Loan.
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Prime Rate Revolving Loan has the meaning set forth in Section 2.1(a).
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Related to Prime Rate Revolving Loan

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

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

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

  • 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.

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).

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

  • Canadian Prime Rate Loan means a Tranche B Loan denominated in Canadian Dollars that bears interest based on the Canadian Prime Rate.

  • Canadian Prime Rate Loans means any Canadian Dollar Revolving Loan during the period which it bears interest at a rate determined by reference to the Canadian Prime Rate.

  • Pending Revolving Loans means, at any time, the aggregate principal amount of all Revolving Loans requested in any Notice of Borrowing received by the Agent which have not yet been advanced.

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

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference 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.

  • New Revolving Loan has the meaning specified in Section 2.14(a).

  • Existing Revolving Loans has the meaning specified in Section 2.16(a).

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Revolving Loans as defined in Section 2.4(a).

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Additional Revolving Loans means any revolving loan added hereunder pursuant to Section 2.22, 2.23 or 9.02(c)(ii).

  • New Revolving Loans as defined in Section 2.25.

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).