U.S. Prime Rate definition

U.S. Prime Rate means the rate announced publicly by US Reference Bank from time to time as its prime rate in effect for US Dollar denominated commercial loans, whether or not such announced rate is the best rate available at such bank.

U.S. Prime Rate the rate of interest announced by Bank of America from time to time as its prime rate. Such rate is set by Bank of America on the basis of various factors, including its costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above or below such rate. Any change in such rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change. In no event shall the US Prime Rate be less than zero.

U.S. Prime Rate means the rate of interest per annum publicly announced from time to time by the Administrative Agent as its prime rate at its offices at 000 Xxxx Xxxxxx, Xxx Xxxx Xxxx; each change in the U.S. Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

Examples of U.S. Prime Rate in a sentence

• Accrued interest in relation to each Prime Rate Loan, each Base Rate Loan and each US Prime Rate Loan shall be payable monthly in arrears on the first Business Day of the following month.

• Subject to the terms and conditions set forth in this Agreement, the Lender agrees to make Accommodations available to (a) the Canadian Borrower under the Facility by way of Prime Rate Loans, Base Rate Loans, CORRA Loans, SOFR Loans, Letters of Credit, Hedging Arrangements and MasterCard Advances, and (b) to the US Borrower under the Facility by way of Letters of Credit, US Prime Rate Loans and MasterCard Advances.

• The Lender shall credit to the Canadian Borrower’s Account or the US Borrower’s Account, as applicable, on the applicable Drawdown Date the proceeds of each Advance made by way of Prime Rate Loan, CORRA Loan, Base Rate Loan, US Prime Rate Loan or SOFR Loan.

• Variable Rate Your APR(s) will vary with the market based on the Prime Rate, which is the highest rate of interest listed as the "US Prime Rate" in the "Money Rates" section of the Wall Street Journal.

• Any outstanding affected CORRA Loans and SOFR Loans will be deemed to have been converted to Prime Rate Loans, Base Rate Loans and US Prime Rate Loans, as applicable, at the end of the applicable Interest Period.

More Definitions of U.S. Prime Rate

U.S. Prime Rate means the rate of interest published by The Wall Street Journal (eastern edition), from time to time, as the “U.S. Prime Rate”.

U.S. Prime Rate means the rate of interest per annum determined by the Administrative Agent 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 the Administrative Agent is charging any corporate customer.

U.S. Prime Rate means the rate of interest announced by the Agent from time to time as its prime rate. Such rate is set by the Agent on the basis of various factors, including its costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above or below such rate. Any change in such rate announced by the Agent shall take effect at the opening of business on the day specified in the public announcement of such change.

U.S. Prime Rate means a fluctuating rate of interest per annum, expressed on the basis of a year of 360 days, as applicable, which is equal at all times to the greater of (a) the reference rate of interest (however designated) of the Chicago Branch of the Agent for determining interest chargeable by it on United States Dollar commercial loans in the United States and (b) the sum of (i) the Federal Funds Effective Rate and (ii) 100 Basis Points per annum. Any change in the US Prime Rate shall be effective on the date the change becomes effective generally.

U.S. Prime Rate the rate of interest per annum publicly announced from time to time by the General Administrative Agent as its prime rate in effect at its principal office in New York City. The U.S. Prime Rate is not intended to be the lowest rate of interest charged by the General Administrative Agent in connection with extensions of credit to borrowers.

U.S. Prime Rate means, on any day, the annual rate of interest announced by the U.S. Administrative Agent and in effect as its prime rate at its principal office in New York City on such day for determining interest rates on U.S. Dollar-denominated commercial loans made in the United States of America.

U.S. Prime Rate means the base interest rate on corporate loans as published in the Wall Street Journal.