THE PRIME RATE definition

THE PRIME RATE means the prime bank overdraft rate of interest charged and calculated by First National Bank for the time being to its first class corporate customers in the private sector in respect of loan facilities, compounded monthly in arrears, as certified by any manager of such a bank, whose appointment and authority shall not be necessary to prove and which certificate shall be prima facie proof of such rate.
THE PRIME RATE means a rate of interest per annum which is equal to the published minimum lending rate of interest per annum, compounded monthly in arrear, charged by Nedbank Bank Limited on the unsecured overdrawn current accounts of its most favoured corporate clients in the private sector from time to time. (In the case of a dispute as to the rate so payable, the rate may be certified by any manager or assistant manager of any branch of the said bank, whose decision shall be final and binding on the parties);
THE PRIME RATE means the rate of interest per annum announced to be its Prime Rate from time to time by Bank at its principal office Columbus, Ohio whether or not Bank will at times lend to borrowers at lower rates of interest, or if there is no such Prime Rate, then its base rate or such other rate as may be substituted by Bank for the Prime Rate.

Examples of THE PRIME RATE in a sentence

  • ANY REPRESENTATION AS TO A TENDER OFFER BY THE PRIME RATE FUND, OTHER THAN THAT WHICH IS SET FORTH IN THE PRIME RATE FUND'S CURRENT PROSPECTUS IS EXPRESSLY PROHIBITED.

  • ANY PAYMENTS THAT ARE NOT PAID ON THE DATE SUCH PAYMENTS ARE DUE UNDER THIS AGREEMENT SHALL BEAR INTEREST TO THE EXTENT PERMITTED BY APPLICABLE LAW AT THE PRIME RATE AS REPORTED BY THE BANK OF AMERICA ON THE DATE SUCH PAYMENT IS DUE.

  • ANY UNDERPAYMENTS OR UNPAID AMOUNTS DISCOVERED BY THE AUDIT WILL BE PAID PROMPTLY BY P53 WITH INTEREST ON SUCH AMOUNTS FROM THE DATE SUCH AMOUNT(S) WERE DUE, AT A RATE EQUAL TO THE LESSER OF THE PRIME RATE REPORTED BY BANK OF AMERICA, NEW YORK, NEW YORK PLUS TWO PERCENT (2%) PER ANNUM OR THE HIGHEST RATE PERMITTED UNDER NEW JERSEY LAW.

  • AT THE BORROWER'S ELECTION MADE IN ACCORDANCE WITH THE TERMS AND SUBJECT TO THE CONDITIONS SET FORTH HEREIN, A PRIME RATE ADVANCE AND SHALL BEAR INTEREST PER ANNUM EQUAL TO THE PRIME RATE.

  • The Yield shall accrue to Buyer on the Purchase Price at a varying rate of interest per annum based on a 360-day year equal to the lesser OF (i) THE PRIME RATE MINUS 1.000%, or (ii) the Highest Lawful Rate.


More Definitions of THE PRIME RATE

THE PRIME RATE means the nacm prime overdraft rate of interest from time to time publicly quoted as such by Nedbank, calculated on a 365 (three hundred and sixty five) day factor, irrespective of whether or not the year is a leap year, as certified by any manager of Nedbank, whose appointment as such it shall not be necessary to prove, which certificate shall serve as prima facie proof of its contents;
THE PRIME RATE means the prime bank overdraft rate of interest charged by Absa Bank Limited or its successor/s from time to time and more commonly known as its prime rate (in the case of a dispute, the rate may be certified by any manager or assistant manager of any branch of the said bank whose certificate shall be final and binding on the members);
THE PRIME RATE means, with respect to any Interest Determination Date relating to a Note for which the interest rate is determined with reference to the Prime Rate (a "Prime Rate Interest Determination Date"), the rate on such date as such rate is published in H.15(519) under the heading "Bank Prime Loan," or, if not published prior to 3:00 p.m., New York City time, on the related Calculation Date, the rate on such Prime Rate Interest Determination Date as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, under the caption "Bank Prime Loan." If such rate is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 p.m., New York City time, on the related Calculation Date, then the Prime Rate shall be the arithmetic mean of the rates of interest publicly announced by each bank that appears on the Reuters Screen U.S. PRIME 1 Page (as defined below) as such bank's prime rate or base lending rate as in effect for such Prime Rate Interest Determination Date. If fewer than four such rates so appear on the Reuters Screen U.S. PRIME 1 Page for such Prime Rate Interest Determination Date, the Prime Rate shall be the arithmetic mean of the prime rates quoted on the basis of the actual number of days in the year divided by a 360-day year as of the close of business on such Prime Rate Interest Determination Date by three major banks (which may include The Bank of New York) in The City of New York selected by the Calculation Agent, after consultation with the Company; provided, however, that if the banks or trust companies so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Prime Rate determined as of such Prime Rate Interest Determination Date will be the Prime Rate in effect on such Prime Rate Interest Determination Date.
THE PRIME RATE means the publicly quoted basic rate of interest at which The Standard Bank of South Africa Limited will lend funds on overdraft. A certificate under the hand of a General Manager of such bank, whose appointment it will not be necessary to prove, shall constitute prima facie proof of the prime rate from time to time;
THE PRIME RATE means the prime lending rate stipulated from time to time by the company's bankers in respect of overdrawn current accounts (a certificate of a manager or sub-manager or accountant or sub-accountant of that bank (whose authority need not be proved) shall be final and binding on the parties as to evidence of that rate); 2.1.12 "the principal loan agreement" means the loan agreement dated 29 March 1995, between Telkom, Vodafone, RFB and the lender, a copy of which loan agreement is attached hereto as Annexure "A"; NY55/245233.
THE PRIME RATE means the publicly quoted lowest rate of interest from time to time at which The Standard Bank of South Africa Limited lends on unsecured overdraft to its most favoured South African Corporate customers.
THE PRIME RATE is determined as a means of pricing the Lender customers and is not directly fixed to any external rate of interest or index, nor is it necessarily the lowest rate of interest charged by the Lender at any given time for any particular class of customers or credit extensions. The Prime Rate in effect as of the close of business of each Business Day shall be the applicable rate for that day, and for any succeeding non-business day or days of the Lender. If the Prime Rate is discontinued as a standard or becomes unascertainable, the Lender shall designate as a substitute a comparable reference rate.