Aggregate Sterling Exposure definition

Aggregate Sterling Exposure means, at any time, the sum of the US Dollar Equivalents of the principal amounts of all Loans outstanding at such time and denominated in Sterling. “Aggregate Sterling Sublimit” means US$50,000,000. “Agreed Currencies” means US Dollars and Sterling. “Agreement” means this Credit Agreement. “Agreement Currency” has the meaning set forth in Section 9.18(b). “Alternate Base Rate” means, 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 1.00% per annum, (c) the Adjusted Term SOFR for a one month Interest Period plus 1.00% per annum and (d) 1.00%. Any change in the Alternate Base Rate (or any component thereof) shall take effect at the opening of business on the day such change occurs. If the Alternate Base Rate is being used as an alternate rate of interest pursuant to Section 2.11, then the Alternate Base Rate shall be the greater of clauses (a), (b) and (d) above and shall be determined without reference to clause (c) above. “A.M. Best” means A.M. Best Company, Inc., or any successor to the rating agency business thereof. “Ancillary Document” has the meaning set forth in Section 9.06(b). “Anti-Corruption Laws” means the Foreign Corrupt Practices Act of 1977, as amended, the Bribery Act 2010 (U.K.), as amended, and all other laws, rules and regulations applicable to the Company or any of its Subsidiaries relating to bribery or corruption. “Anti-Money Laundering Laws” means any laws, rules and regulations applicable to the Company or any of its Subsidiaries relating to the prevention of terrorism or money laundering, including the USA PATRIOT Act, Executive Order 13224 and applicable FinCEN rules and regulations. “Applicable Creditor” has the meaning set forth in Section 9.18(b). “Applicable Insurance Regulatory Authority” means any Governmental Authority that due to the nature of the activities of the Company or its Subsidiaries in the insurance or reinsurance industry has regulatory authority over the Company or any of its Subsidiaries, including the Bermuda Monetary Authority. “Applicable Percentage” means, at any time with respect to any Lender, the percentage of the Aggregate Commitment represented by such ▇▇▇▇▇▇’s Commitment at such time; provided that, for purposes of Section 2.17 when a Defaulting Lender shall exist, “Applicable
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Examples of Aggregate Sterling Exposure in a sentence

  • If, on any date, the Aggregate Sterling Exposure shall exceed 100% of the Aggregate Sterling Sublimit, then the Company shall, not later than three Business Days after the Administrative Agent informs the Company of such excess (which may be by email), prepay one or more Borrowings in an aggregate amount equal to the amount necessary to eliminate any excess of the Aggregate Sterling Exposure over 105% of the Aggregate Sterling Sublimit.

  • Subject to the terms and conditions set forth herein, each Lender agrees to make loans (the “Loans”) denominated in US Dollars or Sterling to the Company from time to time during the Availability Period in an aggregate principal amount that will not result in (a) any Lender’s Revolving Exposure exceeding such ▇▇▇▇▇▇’s Commitment, (b) the Aggregate Revolving Exposure exceeding the Aggregate Commitment and (c) the Aggregate Sterling Exposure exceeding the Aggregate Sterling Sublimit.