Alternate Index Rate definition

Alternate Index Rate means, with respect to each Pricing Rate Period, the per annum rate of interest of the Alternate Index, determined as of the Pricing Rate Determination Date immediately preceding the commencement of such Pricing Rate Period; provided that in no event will the Alternate Index Rate be less than zero.

Alternate Index Rate means, with respect to each Settlement Period, the per annum rate of interest of the Benchmark Replacement, determined as of the Interest Determination Date with respect to such Settlement Period; provided that in no event will the Alternate Index Rate be less than the Index Floor.

Alternate Index Rate means, if the rate set forth in clause (a) of the definition of “LIBOR” ceases to be published, such rate as set forth in any successor edition or publication of such rate, or if such rate ceases to exist, such replacement index rate, in each case, as may be selected by Agent in good faith and in its commercially reasonable discretion giving due regard to the LIBOR Replacement Considerations; provided that any comparable or successor rate shall be applied by Agent, if administratively feasible, in a manner consistent with market practice.

Examples of Alternate Index Rate in a sentence

• Xxxxxxxx agrees that Administrative Agent shall not be liable in any manner for its selection of an Alternate Index Rate and the reliability, availability and/or economic returns intended when Administrative Agent selected the then current Benchmark, provided Administrative Agent makes such selection in good faith and in accordance with the covenants in this Agreement.

• If such notice is given, any request for a LIBOR Loan shall be made or converted to an Alternate Index Rate Loan.

• Each Interest Rate Election Notice for a Loan must be received by the Agent not later than 10:00 a.m. (New York City Time) on the Business Day of any requested borrowing or conversion in the case of a selection of the Alternate Index Rate and not later than 10:00 a.m. (New York City Time) on the third Business Day before the effective date of any requested borrowing or conversion in the case of a selection of the LIBOR Rate..

• For the avoidance of doubt, Xxxxxxxx may borrow and continue Alternate Rate Loans once the Administrative Agent has established the applicable Alternate Index Rate as provided herein.

• If the Alternate Index Rate as determined pursuant to clause (1) or (2) above would be less than zero, the Alternate Index Rate shall be deemed to be zero for the purposes of this Agreement.

More Definitions of Alternate Index Rate

Alternate Index Rate means, with respect to the applicable Interest Accrual Period, applicable LIBOR Successor Rate determined in accordance with the terms hereof.

Alternate Index Rate means, with respect to any Benchmark Transition Event, the sum of (a) the alternate benchmark rate that has been selected by Class A Lender giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body at such time or (ii) any evolving or then-prevailing market convention for determining a rate of interest as a replacement for the then-current Benchmark for U.S. dollar denominated floating rate loans at such time and (b) the Alternate Rate Spread Adjustment; provided, that, in no event shall the Alternate Index Rate for any Interest Accrual Period be deemed to be less than zero.

Alternate Index Rate means, with respect to each Settlement Period, the per annum rate of interest of the Benchmark Replacement, determined as of the Interest Determination Date with respect to such Settlement Period; provided that in no event will the Alternate Index Rate be less than the Index Floor. ​

Alternate Index Rate means, on any date of determination, when the Alternate Index Rate is applicable the Alternate Index, plus the Applicable Spread.

Alternate Index Rate means, with respect to each Interest Period, the first alternative set forth in the order below that can be determined by Administrative Agent as of the Benchmark Replacement Date (provided that if a bank lender under financing provided to a Lender related to the Loan requires a different alternative, so long as such alternative is listed below, it need not be the first available alternative): 1. the sum of: (a) Compounded SOFR and (b) the Alternate Rate Spread Adjustment; 2. the sum of: (a) the alternate benchmark rate of interest selected by Administrative Agent as the replacement for the then-current Benchmark giving due consideration to: (i) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the Relevant Governmental Body at such time or (ii) any evolving or then-prevailing market convention for determining a rate of interest as a replacement for the then-current Benchmark for U.S. dollar-denominated commercial real estate loans with sponsors similar to Guarantor, and (b)

Alternate Index Rate means, with respect to any Benchmark Transition Event, the sum of (a) the alternate benchmark rate that has been selected by Class A Lender giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body at such time or (ii) any evolving or then-prevailing market convention for determining a rate of interest as a replacement for the then-current Benchmark for U.S. dollar denominated floating rate commercial real estate loans with similarly situated counterparties at such time and (b) the Alternate Rate Spread Adjustment; provided, that, in no event shall the Alternate Index Rate for any Interest Accrual Period be deemed to be less than zero; provided further that the Alternate Index Rate selected shall be consistent with the Alternate Index Rate selected under the Underlying Loan Documents.

Alternate Index Rate means the sum of (a) the Index Rate plus (b) the Applicable Margin.