Examples of U.S. Base Rate in a sentence
During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of U.S. Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of U.S. Base Rate.
Each Borrowing under the Credit Facility will be comprised of U.S. Base Rate Borrowings or SOFR Borrowings in Dollars, or Canadian Prime Borrowings or CDOR Borrowings in Canadian Dollars, as any Borrower may request in accordance herewith.
Floating Rate Loan: a US Base Rate Loan or a UK XXXXX Rate Loan, as the context requires.
US Base Rate Loan: a US Revolver Loan that bears interest based on the US Base Rate.
All computations of interest for US Base Rate Loans (including US Base Rate Loans determined by reference to Term SOFR), shall be computed for actual days elapsed, based on a year of 365 or 366 days, as applicable.