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Alternate Base Rate
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Alternate Base Rate
. Section 1.01 of
the Credit Agreement
is hereby amended by deleting
the definition of
“Alternate Base Rate” in its entirety and substituting the following therefor:
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Alternate Base Rate
.
Except to the extent
that the
Account Party
shall elect
to pay
interest on
any Advance
for any
Interest Period
pursuant to paragraph
(c) of this
Section 3.03
, the Account Party shall pay interest on
each Advance
(including all
Initial Advances
) from the date thereof until the date such Advance is due, at a fluctuating
interest rate per annum
in effect
from time to time
equal to
the Alternate Base Rate in effect from time to time. The Account Party shall pay interest on each Advance bearing interest
in accordance with
this subsection
monthly in arrears
on the last
business day
of each month and on the
Termination Date
or the earlier date for
repayment of
such Advance (including the
Initial Repayment Date
therefor,
in the case
of an Initial Advance);
provided that
if an Event of
Default shall
have occurred and is continuing, any principal
amounts outstanding
shall bear interest during such period,
payable on demand
, at a rate per annum equal
at all times
to 2% per annum above the Alternate Base Rate in effect from time to time.
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Alternate Base Rate
.
Except to the extent
that
the Company shall
elect
to pay
interest on
any Advance
for any
Interest Period
pursuant to paragraph
(iii) below, the Company shall pay interest on
each Advance
from the date thereof until the date such Advance is due, at an
interest rate per annum
equal to
the Alternate Base Rate in effect
from time to time
. The Company shall pay interest on each Advance bearing interest
in accordance with
this subsection
monthly in arrears
on the first
Business Day
of each
calendar month
, on the date of
Conversion of
any
ABR Advance
to a
Eurodollar Rate Advance
, including any such Advance made
pursuant to subsection
(b) above, and on the
Stated Expiration Date
or the earlier date for
repayment of
such Advance.
Sample 1
Sample 2
Sample 3
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Alternate Base Rate
. The higher of (a) the
annual rate of interest
announced
from time to time
by
the Administrative Agent
at its
head office
in
New York
, New York as its “
prime rate
” or (b) one half of one percent (1/2%) above the overnight
federal funds effective rate
as published by the
Board of Governors of the Federal Reserve System
, as in effect from time to time. Any
change in
the Alternate Base Rate during an
Interest Period shall
result in a corresponding change on the
same day
in
the rate
of
interest accruing
from and after such day on the
unpaid balance
of
principal of
the
Alternate Base Rate Loans
, if any,
applicable to
such Interest Period, effective on
the day
of such change in the Alternate Base Rate.
Sample 1
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Alternate Base Rate
. Each Base Rate
Loan shall
bear interest on
the principal amount
thereof from the date made until such Loan is
paid in full
or converted, at a rate
per annum
equal to
the Alternate Base Rate plus
the Applicable
Borrowing Margin
.
Sample 1
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Alternate Base Rate
. The higher of (a) the
annual rate of interest
announced
from time to time
by
the Administrative Agent
at its
head office
in
New York
, New York as its "
prime rate
" or (b) one half of one percent (1/2%) above the overnight
federal funds effective rate
as published by the
Board of Governors of the Federal Reserve System
, as in effect from time to time. Any
change in
the Alternate Base Rate during an
Interest Period shall
result in a corresponding change on the
same day
in
the rate
of
interest accruing
from and after such day on the
unpaid balance
of
principal of
the
Alternate Base Rate Loans
, if any, or of
the Swing Loans
, if any,
applicable to
such Interest Period, effective on
the day
of such change in the Alternate Base Rate. ALTERNATE BASE RATE LOANS. Those
Revolving Credit Loans
bearing interest calculated by
reference to
the Alternate Base Rate, including
a Loan
converted from a Swing Loan
in accordance with
Section 2.1(b)(ii).
Sample 1
Sample 2
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Alternate Base Rate
.
The definition of
“Alternate Base Rate” shall be
amended and restated
in its entirety to read
as follows
:
Sample 1
Sample 2
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Alternate Base Rate
. A
simple interest rate
equal to
the higher of (a) the
Federal Funds Rate Basis
plus one-half of one percent (0.50%) or (b) the
Prime Rate
. The Alternate Base Rate shall be adjusted automatically as of the opening of business
as of the effective date
of each
change in
the Federal Funds Rate Basis or the Prime Rate, as
the case
may be,
to account
for such change.
Alternate Base Rate Loan
.
A Loan
which bears interest at the Alternate Base Rate.
Sample 1
Sample 2
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Alternate Base Rate
. For any day a fluctuating rate
per annum
equal to
the
sum of
(a) the
Applicable Margin
plus (b) highest of (i) the
Federal Funds Rate Basis
plus 1/2 of 1%, (ii) the
rate of interest
in effect for such day as
publicly announced
from time to time
by
Bank of America
as its “
prime rate
,” and (iii) the
LIBOR Rate Basis
plus 1.00%. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and
other factors
, and is used as a
reference point
for pricing some loans, which may be priced at, above, or below such
announced rate
. Any
change in
such prime rate announced by Bank of America shall take effect at the opening of business on
the day
specified in the
public announcement
of such change.
Alternate Base Rate Loan
. A
Revolving Credit Loan
which bears interest at the Alternate Base Rate. Anti-
Corruption Laws
. All laws,
rules and regulations
of
any jurisdiction
applicable
to the Company
or any of its Subsidiaries from time to time concerning or
relating to
money laundering
, bribery or corruption.
Sample 1
Sample 2
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Alternate Base Rate
. For any day, a rate
per annum
equal to
the greatest of (a) the
Prime Rate
in effect on such day, (b) the
Federal Funds Effective Rate
in effect on such day plus ½ of 1% and (c) assuming that on such day a
LIBOR Rate Loan
was being made, the LIBOR Rate for a
one month
Interest Period
on such day (or if such day is not a
Business Day
, the immediately preceding Business Day) plus 1%,
provided that
,
for the avoidance of doubt
, the LIBOR Rate for any day shall be
based on
the rate
appearing on the Reuters
BBA Libor Rates Page
01 (or on any successor or substitute page of such page) at approximately 11:00 a.m.
London time
on such day.
Any change
in the Alternate Base Rate due to
a change in
the Prime Rate, the Federal Funds Effective Rate or the LIBOR Rate shall be
effective from
and including
the effective date
of such change in the Prime Rate, the Federal Funds Effective Rate or the LIBOR Rate, respectively.
Sample 1
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