Alternate Base definition

Alternate Base. RATE shall mean, as of any date, a rate of interest per annum equal to the higher of (i) the Corporate Base Rate for such date, and (ii) the sum of the Federal Funds Effective Rate for such date plus one-half of one percent (.50%) per annum.

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Alternate Base. Rate" for any day, shall mean a rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Base CD Rate in effect on such day plus 1% and (c) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%. If for any reason the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable to ascertain the Base CD Rate or the Federal Funds Effective Rate, or both, for any reason, including the inability or failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms thereof, the Alternate Base Rate shall be determined without regard to clause (b) or (c), or both, of the first sentence of this definition, as appropriate, until the circumstances giving rise to such inability no longer exist;

Alternate Base. Rate shall mean, for any day, a rate per annum (rounded upwards to the nearest 1/16 of 1%) equal to the sum of (a) the greater of (i) the Prime Rate (computed on the basis of the actual number of days elapsed over a 360-day year) in effect on such day, and (ii) the Federal Funds Effective Rate (computed on the basis of the actual number of days elapsed over a 360-day year) in effect for such day plus ½ of 1% and (b) the Applicable Margin. For purposes of this Agreement, any change in the Alternate Base Rate due to a change in the Prime Rate or Federal Funds Effective Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Effective Rate, respectively. If for any reason the Agent shall have determined (which determination shall be conclusive and binding, absent manifest error) that it is unable to ascertain the Federal Funds Effective Rate for any reason, including the inability or failure of the Agent to obtain sufficient quotations in accordance with the terms hereof, the Alternate Base Rate shall be determined without regard to clause (a)(ii) until the circumstances giving rise to such inability no longer exist.

Examples of Alternate Base in a sentence

• The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.

• The applicable Alternate Base Rate or Adjusted LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.

• Changes in the rate of interest on that portion of any Advance maintained as a Floating Rate Advance will take effect simultaneously with each change in the Alternate Base Rate.

• All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day).

• The applicable Alternate Base Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.

More Definitions of Alternate Base

Alternate Base. A base, other than the host base, established to permit operation from the vicinity of a project area or incident.

Alternate Base. Rate shall mean, as of any date, a rate of interest per annum equal to the higher of (i) the Corporate Base Rate for such date, and (ii) the sum of the Federal Funds Effective Rate for such date plus one-half of one percent (.50%) per annum.

Alternate Base. RATE" - for any day, a rate per annum (rounded upwards, if necessary, to the next 1/16th of 1%) equal to the greater of (a) the Base Rate in effect on such day, and (b) 0.5% plus the Federal Funds Rate in effect on such day.

Alternate Base. Rate Spread means 0.00 for all purposes of this Agreement."

Alternate Base. RATE," for any day, means a rate per annum (rounded upwards, if necessary, to the next 1/16th of 1%) equal to the sum of (a) the Base Rate (as defined below) in effect on such day PLUS (b) the Applicable Margin. For purposes hereof, "Base Rate" shall mean the higher of (i) the highest among the rates of interest per annum publicly announced from time to time by each of The First National Bank of Chicago, Northern Trust Company or Citibank, N.A. as its prime rate, base rate or other equivalent rate with each change in the Base Rate to be deemed effective on the date that such change is publicly announced); and (ii) the latest published annualized rate for 90-day-commercial paper which normally appears in the "Money Rates" section of THE WALL STREET JOURNAL; provided that clause (i) hereof shall govern in all cases in which clause (ii) hereof cannot be ascertained. Any change in the Alternate Base Rate due to a change in the Base Rate shall be effective on the effective day of such change in the Base Rate.

Alternate Base. RATE TRANCHE"

Alternate Base. Rate shall mean for any day one percent (1%) per annum above the Federal Funds Effective Rate in effect on such day.