Prime Rate Drawdowns and Base Rate Drawdowns Sample Clauses

Prime Rate Drawdowns and Base Rate Drawdowns. Subject to the terms and conditions of this Agreement, the Borrower shall be entitled to Prime Rate Drawdowns or Base Rate Drawdowns by giving a Drawdown Notice to the Agent by 10:00 a.m. (Calgary time) on no less than the number of Business Days prior to the proposed Drawdown Date set forth below: Amount of Drawdown (U.S.) Number of Business Days $0 - $10,000,000 one $10,000,001 - $50,000,000 two Greater than $50,000,000 three where the Amount of Drawdown shall be based upon the currency of the Advance proposed in the Drawdown Notice (or, where a Prime Rate Drawdown is requested, on the Equivalent Amount in U.S. Dollars) and more than one Drawdown Notice in respect of the same Drawdown Date shall for the purposes of this subsection be considered one Drawdown Notice.
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Related to Prime Rate Drawdowns and Base Rate Drawdowns

  • Prime Rate Loans During such periods as the Term Loan shall be comprised of Prime Rate Loans, each such Prime Rate Loan shall bear interest at a per annum rate equal to the Prime Rate; and

  • Base Rate Loans During such periods as Revolving Loans shall be comprised in whole or in part of Base Rate Loans, such Base Rate Loans shall bear interest at a per annum rate equal to the Adjusted Base Rate.

  • Base Rate Advances During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

  • Alternate Base Rate Loans During such periods as Revolving Loans shall be comprised of Alternate Base Rate Loans, each such Alternate Base Rate Loan shall bear interest at a per annum rate equal to the sum of the Alternate Base Rate plus the Applicable Percentage; and

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.