Prime Rate Option Clause Samples
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Prime Rate Option. (i) All or a portion of the unpaid principal balance of cash Advances under the Revolving Credit, unless subject to the LIBOR Rate Option, shall bear interest, subject to the terms hereof, and
(ii) all or a portion of the unpaid principal balance of the Acquisition Line, unless subject to the LIBOR Rate Option, shall bear interest, subject to the terms hereof, at the Prime Based Rate ("Prime Based Rate Option"). Changes in the Prime Rate shall become effective on the same day as Lender announces a change in its Prime Rate. Interest on Prime Based Loans shall be due and payable in arrears on the first day of each calendar month.
Prime Rate Option. Unless the Borrower chooses the LIBOR Rate Option as defined below, the principal balance outstanding under this Revolving Note will bear interest (computed on the basis of a 360-day year, actual days elapsed) at an annual rate equal to the Prime Rate in effect from time to time (the "Prime Rate Option"). The "Prime Rate" is a base rate that the Bank from time to time establishes and which serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto. Each change in the rate of interest hereunder shall become effective on the date each Prime Rate change is announced within the Bank.
Prime Rate Option. A rate per annum equal to the (A) the Prime Rate plus (B) the Applicable Margin (as defined in the Credit Agreement referred to in the Loan Agreement) for Base Rate Loans (as defined in the Credit Agreement). For purposes hereof, the term “Prime Rate” means a per annum rate of interest, calculated on a 365 or 366 day, as the case may be, basis but charged on the actual number of days elapsed, equal to the rate of interest announced from time to time by Bank as its Prime Rate which rate is not necessarily the lowest interest rate charged by the Bank for loans, such Prime Rate to change from time to time as of the effective date of each change in the Prime Rate. If and when the Prime Rate changes, the rate of interest with respect to any advance to which the Prime Rate Option applies will change automatically without notice to Undersigned, effective on the date of any such change. There are no required minimum interest periods for advances bearing interest under the Prime Rate Option.
Prime Rate Option. A fluctuating interest rate per annum equal to the Prime Rate in effect from time to time, such interest rate to change at the opening of business on the day specified in the public announcement of a change in the Prime Rate.
Prime Rate Option. Unless the Libor Rate Option is validly selected and in effect pursuant to this Agreement with respect to the Revolving Credit Note or the Term Loan Note, as the case may be, (i) the entire unpaid principal balance of the Revolving Credit Note shall bear interest at a per annum rate equal to the Prime Rate plus 1/2% and (ii) the entire unpaid principal balance of the Term Loan Note shall bear interest at a per annum rate equal to the Prime Rate plus 3/4%. The rate of interest on all Prime Rate Loans shall change simultaneously with each change in the Prime Rate.
Prime Rate Option. A fluctuating interest rate per annum for each ----------------- day equal to the sum of: (A) the Prime Rate of the Lender, in effect from time to time (such interest rate to change immediately upon any change in the Prime Rate) plus (B) the ---- Applicable Margin then in effect.
Prime Rate Option. A rate of interest per annum (computed on the basis of a year of 360 days and the actual number of days elapsed)
(i) at all times prior to the USFM Date (as defined below) equal to the rate of interest publicly announced by the Bank as its prime rate (the "Prime Rate") and (ii) at all times from and after the USFM Date through the Expiration Date, the Prime Rate minus one quarter of one percent (1/4 %). If and when the Prime Rate changes, the rate of interest on advances bearing interest under the Prime Rate Option will change automatically without notice to the Borrowers, effective on the date of any such change. For purposes of this Note, the USFM Date is the last day of the second of two consecutive fiscal quarters of U.S. Facilities Management Company, Inc. ("USFM") during both of which USFM has had net income determined in accordance with generally accepted accounting principles equal to or greater than zero (0).
Prime Rate Option. A rate of interest established by IDB as its prime rate of interest, as determined by IDB from time to time (the “Prime Rate”), plus a margin of 100 basis points. Any change in the Prime Rate shall take effect on the date of the change in the Prime Rate; or (ii)
Prime Rate Option. 35 Prime Single-family Mortgage Loan................................................................................22
Prime Rate Option. If Borrower selects the Prime Rate pricing option, Borrower shall repay the amount of principal drawn in forty-seven (47) equal monthly payments of principal plus accrued interest and one final payment of all outstanding principal and accrued interest.