Prime Rate Term Loan definition

Prime Rate Term Loan means that portion of the Term Loan that bears interest based on the Prime Rate.
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Prime Rate Term Loan means the Term 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 Term Loan means a Term Loan that is a Prime Rate Loan.
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Examples of Prime Rate Term Loan in a sentence

  • The table below summarises the foreign denominated interest bearing liabilities held by the Trust Group.

  • Also, at the Lender's option, the LIBOR Revolving Credit Portion or LIBOR Term Loan Portion subject thereto shall immediately bear interest thereafter at the rate and in the manner provided for Prime Rate Revolving Credit Portions or the Prime Rate Term Loan Portion, as the case may be, pursuant to Section 1.4 above.

  • The Borrower shall give the Agent an Initial Notice of Borrowing with respect to the Term Loan not later than 11:00 a.m. on the Effective Date, and such initial borrowing shall be a Prime Rate Term Loan.

  • Each change in the interest rate of either a Prime Rate Advance or a Prime Rate Term Loan Advance based on changes in the Prime Rate shall be effective on the effective date of such change and to the extent of such change.

  • Construction on the student services building will start in May, and be completed in January 2018.

  • The Borrowers shall give the Agent a notice of borrowing at least one Business Day prior to the occurrence of the Effective Date, which notice shall be in writing (including facsimile), or by telephone followed by a confirming same-day written notice, and shall specify the date of the requested Prime Rate Term Loan, PROVIDED, however, that the failure by the Borrowers to confirm any notice by telephone with a written notice shall not invalidate any notice so given.

  • All prepayments of the Term Loan shall first be applied to the Prime Rate Term Loan Portion and then to the Libor Term Loan Portion.

  • Each Term Loan Advance shall, at Borrowers’ option in accordance with the terms of this Agreement, be either in the form of a Prime Rate Term Loan Advance or a LIBOR Term Loan Advance.

  • Loan The Borrower shall give the Lender at least two Business Days' pi written notice of the occurrence of the Effective Date, specifying the portion of the Term Loan which will bear interest initially as a Prime Rate Term Loan and the portion of the Term Loan which will bear interest initially as one or more LIBOR Term Loans, and the duration of the applicable Interest Period(s) with respect to any such LIBOR Term Loan(s).

  • Subject to Section 2.19 hereof, the Borrower shall have the option to convert a Prime Rate Term Loan into a Libor Term Loan; PROVIDED, HOWEVER, that in the case of the conversion of such Loan, (a) the Borrower shall give to the Agent notice of each such conversion as provided in Section 2.2; and (b) no Loan may be converted if on the proposed date of conversion an Event of Default or Default has occurred and is continuing.


More Definitions of Prime Rate Term Loan

Prime Rate Term Loan means each Borrowing of Prime Rate Loans under the Term Loan Facility on the same day, a specified principal amount of Prime Rate Loans outstanding under the Term Loan Facility, and any Non-Ratable Term Loan.
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Related to Prime Rate Term Loan

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

  • LIBOR Term Loan means any Term Loan bearing interest at a rate determined by reference to the LIBOR Rate.

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

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

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

  • Original Term Loans means the "Term Loans" under, and as defined in, the Original Credit Agreement.

  • Alternative Currency Term Rate means, for any Interest Period, with respect to any Credit Extension:

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

  • New Term Loan shall have the meaning provided in Section 2.14(c).

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

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • New Term Loan Maturity Date means the date on which a New Term Loan matures.

  • Swingline Rate means, for any Interest Period, the rate as offered by the Administrative Agent and accepted by the Borrower. The Borrower is under no obligation to accept this rate and the Administrative Agent is under no obligation to provide it.

  • Tranche B Term Loan as defined in Section 2.1.

  • Alternative Currency Term Rate Loan means a Committed Loan that bears interest at a rate based on the definition of “Alternative Currency Term Rate.” All Alternative Currency Term Rate Loans must be denominated in an Alternative Currency.

  • Incremental Term Loan Maturity Date means the final maturity date of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Canadian Prime Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum.

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

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.

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

  • Base Rate Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

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

  • Extended Term Loans has the meaning specified in Section 2.15(a).

  • Latest Term Loan Maturity Date means, at any date of determination, the latest maturity or expiration date applicable to any Term Loan hereunder at such time, including the latest maturity or expiration date of any New Term Loan or any Extended Term Loan, in each case as extended in accordance with this Agreement from time to time.

  • 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.

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