CIBC Prime Rate definition

CIBC Prime Rate means the variable rate of interest quoted by CIBC from time to time as the reference rate of interest which it employs to determine the interest rate it will charge for demand loans in Cdn. Dollars to its customers in Canada and which it designates as its prime rate. If on the date an outstanding advance under the Facility is converted into a CIBC Prime Rate loan, CIBC Prime Rate is less than the Floor Rate on that date, then the interest rate applicable to such CIBC Prime Rate loan shall be the Floor Rate.
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CIBC Prime Rate means the annual rate of interest announced from time to time by Canadian Imperial Bank of Commerce as a reference rate then in effect for determining interest rates on Canadian dollar commercial loans in Canada;
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CIBC Prime Rate means the variable rate of interest quoted by CIBC from time ----------------- to time as the reference rate of interest which it employs to determine the interest rate it will charge for demand loans in Canadian Dollars to its customers in Canada and which it designates as its prime rate.
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Examples of CIBC Prime Rate in a sentence

  • Repayments without proof of sale, as described in 3.0 of the Terms & Conditions, may be subject to an interest penalty at the CIBC Prime Rate less 0.50%.

  • Except as expressly stated otherwise herein, all CIBC Prime Rate loans, U.S. Base Rate loans and LIBOR based loans from time to time outstanding hereunder shall bear interest, as well after as before maturity, default and judgment, with interest on overdue interest, at the applicable rates.

  • Interest on CIBC Prime Rate loans and U.S. Base Rate loans shall accrue and be calculated daily and be payable on such Banking Day as is customary for CIBC having regard to its then existing practice.

  • JEM Holdings has no operations and the sole asset owned by JEM Holdings is 1 share of Nexus Mexico (representing less than a 0.1% interest in Nexus Mexico).

  • Interest-bearing advances are subject to interest at the CIBC Prime Rate less 0.75% (calculated daily and compounded monthly), which is calculated and applied to accounts on at least a monthly basis.

  • The interest rate payable by you specified in the registered document is a floating rate which is adjusted daily as the CIBC Prime Rate (the “mortgage prime rate”) changes from time to time.

  • The interest rate will change automatically, without notice, whenever the CIBC Prime Rate changes.

  • Interest on CIBC Prime Rate loans and U.S. Base Rate loans and stamping fees on bankers' acceptances shall be calculated on the basis of a 365 day year.

  • The debit balance from time to time in any such account will be deemed to be a CIBC Prime Rate loan outstanding to the Borrower under the Credit Facility.

  • The following completed section applies: The current mortgage rate as of the date of the mortgage is CIBC Prime Rate less % per annum.

Related to CIBC Prime Rate

  • U.S. Prime Rate means the per annum rate of interest announced by the Agent, at its main office from time to time as its "prime rate" (it being acknowledged that such announced rate may not necessarily be the lowest rate charged by the Agent to any of its customers), which U.S. Prime Rate shall change simultaneously with any change in such announced rate.

  • Canadian Prime Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum.

  • Prime Rate means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

  • Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the higher of:

  • Prime Rate Margin is one-quarter of one percent (0.25%).