RBC Prime Rate definition
RBC Prime Rate means the floating annual rate of interest established and recorded by Royal Bank of Canada from time to time as a reference rate for purposes of determining rates of interest it shall charge on loans denominated in Canadian dollars made in Canada;
RBC Prime Rate means, for any day, the rate of interest per annum established and published from time to time by Royal Bank of Canada at the reference rate of interest for the determination of interest rates that Royal Bank of Canada will charge its customers of varying degrees of creditworthiness in Canada for Canadian Dollar demand loans made by the Royal Bank of Canada in Toronto, Ontario.
RBC Prime Rate means the rate of interest per annum determined by Royal Bank of Canada from time to time as its prime commercial lending rate for United States Dollar loans in the United States for such day. The Prime Rate is not necessarily the lowest rate that Royal Bank of Canada is charging any corporate customer.
Examples of RBC Prime Rate in a sentence
Repayments without proof of sale in excess of the greater of $1,000 or 10% of the total amount of the advance will be charged an interest penalty at the RBC Prime Rate, as described in 3.0 of the Repayment Agreement.
If the Purchaser fails to pay to the Vendors any amount when due that the Purchaser has covenanted to pay pursuant to this Agreement, without limiting the Vendors' other rights as contained in this Agreement or otherwise at law or in equity, the Purchaser shall be required to pay to the Vendors, compound interest, calculated and accrued monthly, with respect to such unpaid amount from the day such payment is due until the day it is paid, at the rate of 2 1/2% above the Prevailing RBC Prime Rate.
More Definitions of RBC Prime Rate
RBC Prime Rate means, at any time, the annual rate of interest which the Royal Bank of Canada establishes at its principal office in Toronto as the reference rate of interest to determine interest rates it will charge at such time for demand loans in Canadian dollars made to its customers in Canada and which it refers to as its "prime rate of interest", such rate to be adjusted automatically and without the necessity of any notice to the Company upon each change to such rate.