Common use of Bail Clause in Contracts

Bail. In Legislation shall mean, (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, rule, regulation or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings). Base Rate shall mean, for any day, a fluctuating per annum rate of interest equal to the highest of (i) the Overnight Bank Funding Rate, plus 0.5%, (ii) the Prime Rate, and (iii) the Daily Simple SOFR, plus 1.00%, so long as Daily Simple SOFR is offered, ascertainable and not unlawful; provided, however, if the Base Rate as determined above would be less than zero, then such rate shall be deemed to be zero. Any change in the Base Rate (or any component thereof) shall take effect at the opening of business on the day such change occurs. Notwithstanding anything to the contrary contained herein, in the case of any event specified in Section 4.4(a) [Rate Unascertainable; Increased Costs] or Section 4.4(b) [Illegality], to the extent any such determination affects the calculation of the Base Rate, the definition hereof shall be calculated without reference to clause (iii) until the circumstances giving rise to such event no longer exist. Base Rate Loan shall mean a Loan that bears interest based on the Base Rate. Base Rate Option shall mean the option of the Borrower to have Loans bear interest at the rate and under the terms specified in either Section 4.1(a)(i) [Revolving Credit Base Rate Option] or Section 4.1(b)(i) [Swing Loan Base Rate Option], as applicable. Benchmark shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting]. Benchmark Replacement shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting]. Benchmark Replacement Adjustment shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting]. Benchmark Replacement Date shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting].

Bail. In Legislation shall mean, with respect to (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, rule, regulation rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule, and or (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration administrative or other insolvency proceedingsproceeding). 282118229 Base Rate shall meanmeans, for any day, a fluctuating per annum rate of interest equal to the highest of (i) the Overnight Bank Funding Rate, plus 0.5%, (ii) the Prime Rate, and (iii) the Daily Simple SOFR, plus 1.00%, so long as Daily Simple SOFR is offered, ascertainable and not unlawful; provided, however, if the Base Rate as determined above would be less than zero, then such rate shall be deemed to be zero. Any change in the Base Rate (or any component thereof) shall take effect at the opening of business on the day such change occurs. Notwithstanding anything to the contrary contained herein, in the case of any event specified in Section 4.4(a) 4.4.1 [Rate Unascertainable; Increased Costs; Deposits Not Available] or Section 4.4(b) 4.4.4 [Illegality], to the extent any such determination affects the calculation of the Base Rate, the definition hereof shall be calculated without reference to clause (iii) until the circumstances giving rise to such event no longer exist. Base Rate Loan shall mean a Loan that bears interest based on the Base Rate. Base Rate Option shall mean the option of the Borrower Borrowers to have Loans bear interest at the rate and under the terms specified set forth in either Section 4.1(a)(i4.1.1(ii) [Revolving Credit Base Rate Option] or Section 4.1(b)(i) [Swing Loan Base Rate Option], as applicable. Benchmark shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting]. Benchmark Replacement shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting]. Benchmark Replacement Adjustment shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting]. Benchmark Replacement Date shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting].

Bail. In Legislation shall mean, (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, rule, regulation or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings). Base Rate shall mean, for any day, a fluctuating per annum rate of interest equal to the highest of (i) the Overnight Bank Funding Rate, plus 0.5%, (ii) the Prime Rate, and (iii) the Daily Simple SOFR, plus 1.00%, so long as Daily Simple SOFR is offered, ascertainable 165778087 and not unlawful; provided, however, if the Base Rate as determined above would be less than zero, then such rate shall be deemed to be zero. Any change in the Base Rate (or any component thereof) shall take effect at the opening of business on the day such change occurs. Notwithstanding anything to the contrary contained herein, in the case of any event specified in Section 4.4(a) [Rate Unascertainable; Increased Costs] or Section 4.4(b) [Illegality], to the extent any such determination affects the calculation of the Base Rate, the definition hereof shall be calculated without reference to clause (iii) until the circumstances giving rise to such event no longer exist. Base Rate Loan shall mean a Loan that bears interest based on the Base Rate. Base Rate Option shall mean the option of the Borrower to have Loans bear interest at the rate and under the terms specified in either Section 4.1(a)(i) [Revolving Credit Base Rate Option] or Section 4.1(b)(i) [Swing Loan Base Rate Option], as applicable. Benchmark shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting]. Benchmark Replacement shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting]. Benchmark Replacement Adjustment shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting]. Benchmark Replacement Date shall have the meaning specified in Section 4.4(d) [Benchmark Replacement Setting].