Screen Rate Sample Clauses
The Screen Rate clause defines how the reference interest rate for a financial contract is determined by using rates published on a recognized financial information service, often referred to as a "screen." In practice, this clause specifies the exact screen or service (such as Reuters or Bloomberg) and the time at which the rate should be observed, ensuring all parties refer to the same, publicly available benchmark. Its core function is to provide a clear, objective, and consistent method for determining interest rates, thereby reducing ambiguity and potential disputes over rate calculation.
POPULAR SAMPLE Copied 6 times
Screen Rate amend the definition of Screen Rate to provide for the replacement of the British Bankers’ Association by the ICE Benchmark Administration as the administrator of LIBOR and the replacement of the Banking Federation of the European Union by the European Money Markets Institute as the administrator of EURIBOR together with other amendments to the definition of Screen Rate by reference to clauses and language used in recent Liberty precedent and/or, to the extent not inconsistent with recent Liberty precedent, the European leverage loan market.
Screen Rate. The EURIBOR Screen Rate, the Dollars Screen Rate or the GBP Screen Rate, as applicable.