Royal Bank of Canada Prime Rate definition

Royal Bank of Canada Prime Rate as used herein means the annual rate of interest announced from time to time by Royal Bank of Canada as a reference rate then in effect for determining interest on Canadian dollar loans made in Canada.
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Royal Bank of Canada Prime Rate means the annual rate of interest announced from time to time by Royal Bank of Canada or any successor thereto as a reference rate of interest then in effect for determining interest on Canadian dollar loans made in Canada and commonly known as its ‘prime rate’.
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Royal Bank of Canada Prime Rate means the rate of interest, expressed as a percentage per annum, published and quoted by Royal Bank of Canada's Toronto, Ontario, Head Office and which is commonly known as the prime lending rate for commercial loans in Canadian Dollars.
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Examples of Royal Bank of Canada Prime Rate in a sentence

  • The initial interest rate is set when the loan is conditionally approved and will be reset at the Royal Bank of Canada Prime Rate plus 0.5% at each of the 10th, 15th and 20th anniversary dates.

  • The initial interest rate is set when the loan is conditionally approved, and will be reset at the Royal Bank of Canada Prime Rate plus 0.5% at each of the 10th, 15th and 20th anniversary dates.

  • The promissory note is secured, bears interest at the Royal Bank of Canada Prime Rate per annum, and has a loan fee of 1% of the outstanding amount per month.

  • If on the maturity of the term hereof the Borrower does not either discharge the loan secured hereby or enter into a renewal agreement with the Lender, then the Lender may, at its option, by notice in writing to the Borrower, extend the term of the loan for a further term of six months at an interest rate equal to the Royal Bank of Canada Prime Rate (as hereinafter defined) plus 1% per annum.

  • The Credit Facility matures in June 2025 and bears interest at the rate of the greater of 9.50% or the Royal Bank of Canada Prime Rate plus 7.05% per annum.

  • The Borrower will pay interest at a floating rate based on Royal Bank of Canada Prime Rate, plus 4.0%.

Related to Royal Bank of Canada Prime Rate

  • Bank of America means Bank of America, N.A. and its successors.

  • JPMorgan means JPMorgan Chase Bank, N.A.

  • Prime Rate means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

  • Overnight Bank Funding Rate means, for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated in Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the NYFRB’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.