Prime Rate Term Loans definition

Prime Rate Term Loans means any Term 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 Term Loans category set forth in the definition of the term Applicable Margin on a per annum basis in excess of the Prime Rate, and, (B) as to Eurodollar Rate Term Loans, to the rate equal to the Applicable Margin for the "Eurodollar Term Loans" category set forth in the definition of the term Applicable Margin on a per annum basis in excess of the Adjusted Eurodollar Rate and (ii) notwithstanding anything to the contrary contained above, the Applicable Margin otherwise used to calculate the Interest Rate for Prime Rate Term Loans and Eurodollar Rate Term Loans shall be the highest percentage set forth in the definition of the term Applicable Margin for each of the "Prime Rate Term Loans" and
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Prime Rate Term Loans in Section 1.1 of the Loan Agreement is hereby deleted in its entirety and each reference to the term "Prime Rate Term Loan" in the Loan Agreement is hereby deleted and the term "Prime Rate Loan" is hereby substituted in each place therefor.
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Examples of Prime Rate Term Loans in a sentence

  • Any conversion of Eurodollar Term Loans to ABR Term Loans or of CDOR Rate Term Loans to Canadian Prime Rate Term Loans as required by the preceding sentence shall be subject to Section 2.16.

  • Borrower agrees to pay Bank, upon demand by Bank (or Bank may, at its option, charge the Designated Deposit Account or any other account Borrower maintains with Bank) any amounts required to compensate Bank for any loss (including loss of anticipated profits), cost, or expense incurred by Bank, as a result of the conversion of LIBOR Term Loans to Prime Rate Term Loans pursuant to this Section 3.5(d).

  • The Term Loan shall bear interest on the outstanding principal amount thereof from the date when made, continued or converted until paid in full at a rate per annum equal to (i) for Prime Rate Term Loans, the Prime Rate plus 1.50%, and (ii) for LIBOR Term Loans, the LIBOR Rate plus 4.00%.

  • Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear interest at a rate per annum which is five percentage points above the rate that is otherwise applicable thereto in the case of Advances or Prime Rate Term Loans (the “Default Rate”).


More Definitions of Prime Rate Term Loans

Prime Rate Term Loans a Term Loan the interest on which is determined on the basis of the Prime Rate.
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Prime Rate Term Loans has the meaning set forth in Section 2.1(b).
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Prime Rate Term Loans means Prime Rate Loans that are Term Loans.
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Related to Prime Rate Term Loans

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

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

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

  • New Term Loans as defined in Section 2.24.

  • 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.

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

  • 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.

  • Tranche B Term Loans means the Loans made by Lenders to Company pursuant to subsection 2.1A(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.

  • 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.

  • 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.

  • Incremental Term Loans has the meaning specified in Section 2.14(a).

  • Refinanced Term Loans shall have the meaning provided in Section 13.1.

  • 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.

  • 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.

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

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

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

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

  • 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.

  • Initial Term Loans means the term loans made by the Lenders on the Closing Date to the Borrower pursuant to Section 2.01(a).

  • 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.

  • Tranche A Term Loans means Loans made by the Tranche A Term Lenders pursuant to Section 2.01(a).

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

  • Additional Term Loans means any term loan added pursuant to Section 2.22, 2.23 or 9.02(c)(i).

  • 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.