Prime Rate Revolving Loan definition

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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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 a Revolving Loan that is a Prime Rate Loan.
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Examples of Prime Rate Revolving Loan in a sentence

  • 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.

  • 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.

  • 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.

  • The Borrowers will, to the extent permitted by Applicable Law, pay interest on the unpaid principal amount of any Secured Obligation that is due and payable, other than the Loans, in accordance with Sections 4.1(a) or (f), as applicable, as if such Secured Obligation were a Prime Rate Revolving Loan.

  • If any Presentments in the Controlled Disbursement Account are paid by Lender in excess of funds available in the Funding Account for any reason, the amounts so paid by Lender will be an overdraft and deemed to be an advance of the Revolving Loans as a Prime Rate Revolving Loan for all purposes of this Agreement; however, under no circumstances will Lender have any obligation to pay any Presentments in the Controlled Disbursement Account in excess of funds available in the Funding Account.

  • All sums paid by Lender to discharge such liens shall be deemed to be an advance as a Prime Rate Revolving Loan hereunder, shall be added to the Liabilities, and shall bear interest at the highest rate applied to the Prime Rate Revolving Loans, until repaid to Lender.

  • Dollars if the requested Borrowing is a 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 from time to time designated by the Agent, not later than 1:00 p.m. (Toronto time) on the applicable Funding Date.

  • Subject to SECTION 4.3, each Prime Rate Revolving Loan and LIBOR Rate Revolving Loan shall bear interest at a rate per annum determined as follows: (a) if it is a Prime Rate Revolving Loan, then at the sum of the Prime Rate in effect from time to time PLUS the Prime Revolver Margin; or (b) if it is a LIBOR Rate Revolving Loan, then at the sum of the LIBOR Rate for the applicable Interest Period PLUS the LIBOR Revolving Margin.

  • Lender may, in its discretion, elect to xxxx Borrower for the amount of any such payment in which case such amount shall be immediately due and payable with interest thereon at the rate then applicable to Prime Rate Revolving Loan Portions.

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


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 any Revolving Loans or portion thereof on which interest is payable based on the Prime Rate in accordance with the terms hereof.
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Prime Rate Revolving Loan means any portion of the Revolving Loan that bears interest based on the Revolving Loan Prime Rate during any period.
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Prime Rate Revolving Loan has the meaning set forth in Section 2.1(a).
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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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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 any Loan bearing interest at a rate determined by reference to 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 has the meaning specified in Section 2.01(a).

  • 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 any Loan made to the Borrower in Canadian Dollars which bears interest based upon the Canadian Prime Rate as provided in Section 4.1(a).

  • 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 any Committed Loan that bears interest at a rate determined with 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 2.7(a).

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

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

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • Refinancing Revolving Loans has the meaning assigned to such term in Section 2.26(a).

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

  • Additional Revolving Loans means any revolving loan added hereunder pursuant to Sections 2.22, 2.23 and/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).