US Prime Rate Advance definition

US Prime Rate Advance means an Advance or a Conversion of an Advance in United States Dollars made by a US Lender to the US Borrower with respect to which the US Borrower has specified that interest is to be calculated by reference to the US Prime Rate.
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US Prime Rate Advance has the meaning specified in the definition of Advance.
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US Prime Rate Advance means, at any time, the part of the Advances in US$ with respect to which the Borrower has chosen, or, in accordance with the provisions hereof, is obliged to pay, interest calculated in accordance with the provisions of Section 3.09.
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Examples of US Prime Rate Advance in a sentence

  • The US Borrower will pay interest on each US Prime Rate Advance during each Interest Period applicable thereto in United States Dollars at a rate per annum equal to the sum of (i) the US Prime Rate in effect from time to time during such Interest Period plus (ii) the US Prime Rate Margin.

  • Such interest will be payable in arrears on each Interest Payment Date for such Advance for the period from and including the Drawdown Date or the preceding Conversion Date or Interest Payment Date, as the case may be, for such Advance to and including the day preceding such Interest Payment Date and will be calculated on the principal amount of the US Prime Rate Advance outstanding during such period and on the basis of the actual number of days elapsed divided by 365 or 366, as applicable.

  • If no cash concentration arrangement is in place with the US Swingline Lender, the debit balance from time to time in any such US Dollar account will be deemed to be a US Prime Rate Advance, outstanding to the US Borrower from the US Swingline Lender under the US Revolving Facility.

  • If at any time the US Borrower is a party to a cash concentration arrangement with the US Swingline Lender, then only the amount of any overdraft from time to time in the US Dollar concentration account, of the US Borrower established pursuant to such arrangement (which for greater certainty may include one of the US Dollar accounts identified above) will be deemed to be a US Prime Rate Advance outstanding to the US Borrower from the US Swingline Lender under the US Revolving Facility.

  • However, if the Borrower has not delivered a notice to the Administrative Agent in a timely manner in accordance with the provisions of Section 3.02, the Borrower shall be deemed to have requested a US Prime Rate Advance.

  • If a Borrower fails to deliver an Election Notice to the Administrative Agent for any Libor Rate Advance as provided in this Section 3.03(3), the Libor Rate Advance shall be converted (as of the last day of the applicable Libor Interest Period) to and be outstanding as (i) a U.S. Base Rate Advance in the case of a Libor Rate Advance by a Domestic Lender, or (ii) U.S. Prime Rate Advance in the case of a Libor Rate Advance by a Foreign Lender.

  • A US Prime Rate Advance from the US Swingline Lender as contemplated by this Section, prior to such time as such Advance is repaid as contemplated by Sections 2.07(4) or (5), or purchased as contemplated by Section 2.07(6), is referred to as a “US Swingline Loan”.

  • Upon receipt of such notice, the Borrower may revoke any pending Notice of Borrowing under the Revolving Facility or notice under the Revolving Facility requesting to convert or continue any Advance as a Libor Advance (to the extent of the affected Designated Periods) or, failing that, will be deemed to have chosen to have the interest on the amount of such Advance calculated on the basis of a US Prime Rate Advance.

  • Each Advance shall initially be the Type of Advance specified in the applicable Borrowing Notice and shall bear interest at the rate applicable to that Type of Advance (determined as provided in Section 3.05) until (i) in the case of a Libor Rate Advance, the end of the initial Libor Interest Period specified in the applicable Borrowing Notice, (ii) in the case of a U.S. Prime Rate Advance, the date on which the Advance is repaid in full or is changed to a Libor Rate Advance pursuant to Section 3.03(2).

  • Each U.S. Prime Rate Advance shall be in an aggregate amount of not less than U.S.$100,000.


More Definitions of US Prime Rate Advance

US Prime Rate Advance means, at any time, the part of the US Dollar Advances with respect to which the Borrower has chosen, or, in accordance with the provisions hereof, is obliged, to pay interest on the US Prime Rate Basis;
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US Prime Rate Advance means an Advance in US Dollars bearing interest based on the US Prime Rate and includes deemed US Prime Rate Advances provided for in this Agreement.
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US Prime Rate Advance means an Advance or a Conversion of an Advance in United States Dollars made by a US Lender to the US Borrower with respect to which the US Borrower has specified that interest is to be calculated by reference to the US Prime Rate. “ US Prime Rate Margin ” means, for any period, the applicable percentage rate per annum applicable to that period as indicated below the reference to “US Prime Rate Advance” in the definition of “Applicable Margin”, as adjusted pursuant to the definition of “Applicable Margin”. “ US Revolver Amount ” means the amount set forth in Schedule A hereto as the “Total Commitment” for the US Revolving Facility. “ US Revolving Facility ” has the meaning set forth in Sec tion 2.02 . “ US Swingline Facility ” has the meaning set forth in Section 2.06(1). “ US Swingline Lender ” means any Lender that agrees, with the approval of the Agent and the Borrowers, to act as the US Swingline Lender hereunder. “ US Swingline Loan ” has the meaning set forth in Sec tion 2.06(2). “ US Welfare Plan ” means a “welfare plan”, as such term is defined in Section 3(1) of ERISA. “ Withholding Agent ” means any Obligor and the Agent. “ Write - Down and Conversion Powers ” means, (a) with respect to any EEA Resolution Authority, the write - down and conversion powers of such EEA Resolution Authority from time to time under the Bail - In Legislation for the applicable EEA Member Country, which write - down and conversion powers are described in the EU Bail - In Legislation Schedule, and (b) with respect to any UK Resolution Authority, any powers of such UK Resolution Authority from time to time under the Bail - In Legislation for the United Kingdom to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that Person or any other Person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail - In Legislation that are related to or ancillary to any of those powers. “ Year - Five Period ” means, for any Eligible Customer Contract, at any month end, the twelve month period immediately succeeding the end of the Year - Four Period. “ Year - Four Period ” means, for any Eligible Customer Contract, at any month end, the twelve month period imm...
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US Prime Rate Advance means, at any time, the part of the Advances in US $ in respect of which interest is calculated in accordance with the provisions of Section 3.09.
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Related to US Prime Rate Advance

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Prime Rate Loan means a Loan that bears interest based on the Prime Rate.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • 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.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Canadian Prime Rate Loan means a Tranche B Loan denominated in Canadian Dollars that bears interest based on the Canadian Prime Rate.

  • 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.

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • Floating Rate Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the Floating Rate.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

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

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Eurocurrency Rate.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.