Alternate Currency Base Rate definition

Alternate Currency Base Rate means, for any day, the rate per annum which is quoted at approximately 10:00 a.m. (London time) to leading banks in the European interbank market by the Administrative Agent for the offering of overnight deposits in the relevant Alternate Currency or, at the option of the Administrative Agent in respect of an outstanding Reimbursement Obligation in an Alternate Currency, such other base rate as the Administrative Agent would customarily charge on similar obligations of companies of comparable credit standing.
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Alternate Currency Base Rate means, with respect to Sterling Loans, the U.K. Base Rate; with respect to Canadian Loans, the Canadian Prime Rate; and with respect to all other Alternate Currency Loans, the base commercial lending rate of interest charged by commercial banks as publicly announced by a bank located in the applicable country and selected by Agent in its sole discretion to be in effect from time to time, such rate to be adjusted automatically, without notice, on the effective date of any change in such rate.
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Alternate Currency Base Rate means for any Interest Period for each Alternate Currency Advance, the rate of interest determined by Administrative Agent at which deposits in the applicable Alternate Currency (except for British pounds sterling or any other Alternate Currency for which there is not a quote available on the Telerate Screen) for the relevant Interest Period are offered based on information presented on the Telerate Screen as of 11:00 A.M. (London time) on the day which is two (2) Business Days prior to the first day of such Interest Period; provided, that if at least two such offered rates appear on the Telerate Screen in respect of such Interest Period, the arithmetic mean of all such rates (as determined by Administrative Agent) will be the rate used; provided, further, if (i) the Telerate System ceases to provide the required quotation, or (ii) with respect to any Alternate Currency Advance made in British pounds sterling or any other Alternate Currency for which there is not a quote available on the Telerate Screen, such rate shall be the per annum rate of interest determined by the arithmetic average (rounded upward, if necessary, to the nearest .01%) of the respective rates per annum at which deposits in British pounds sterling or such other Alternate Currency would be offered to each of the Reference Banks in the London interbank market at approximately 11:00 A.M. (London time) two Business Days before the first day of such Interest Period in an amount approximately equal to the principal amount in British pounds sterling or such other Alternate Currency of the related Alternate Currency Advance to which such Interest Period is to apply and for a period of time comparable to such Interest Period.
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Examples of Alternate Currency Base Rate in a sentence

  • Agent shall notify Borrower two (2) Business Days prior to the effective date of the requested Alternate Currency Loan of the determination made as to the availability of the requested Alternate Currency and the related Alternate Currency Base Rate or Alternate Currency LIBO Rate.

  • Whenever subsequent to the date of this Agreement, the Alternate Base Rate or the Alternate Currency Base Rate is increased or decreased, the applicable Contract Rate for Alternate Base Rate Loans or Alternate Currency Base Rate Loans, as the case may be, shall be similarly changed without notice or demand of any kind by an amount equal to the amount of such change in the Alternate Base Rate or Alternate Currency Base Rate during the time such change or changes remain in effect.

  • Provided that no Event of Default shall have occurred and be continuing, Borrower may convert any LIBO Rate Loan, Alternate Currency LIBO Rate Loan, Alternate Base Rate Loan or Alternate Currency Base Rate Loan into a loan of another type in the same aggregate principal amount provided that any conversion of a LIBO Rate Loan or Alternate Currency LIBO Rate Loan shall be made only on the last Business Day of the then current Interest Period applicable to such LIBO Rate Loan.


More Definitions of Alternate Currency Base Rate

Alternate Currency Base Rate means for any Interest Period for each Alternate Currency Advance, the rate of interest determined by Agent at which deposits in the applicable Alternate Currency (except for British pounds sterling) for the relevant Interest Period are offered based on information presented on the Telerate Screen as of 11:00 A.M. (London time) on the day which is two (2) Business Days prior to the first day of such Interest Period; provided, that if at least two such offered rates appear on the Telerate Screen in respect of such Interest Period, the arithmetic mean of all such rates (as determined by Agent) will be the rate used; provided, further, if (i) the Telerate
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Alternate Currency Base Rate means for any Interest Period for each ---------------------------- Alternate Currency Loan, a rate per annum equal to the per annum rate of interest determined by the Agent (rounded upward to the nearest 0.01%) to be the rate per annum at which deposits in the relevant Alternate Currency are offered by the Alternate Currency Lending Office of Agent to a prime bank in the interbank domestic alternate currency market at 10:00 a.m. (Central Time) two Business Days before the first day of such Interest Period, for a period equal to such Interest Period in an amount substantially equal to the amount of the relevant Alternate Currency Loan to be outstanding during such Interest Period.
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Alternate Currency Base Rate means, subject to the implementation of a Replacement Rate in accordance with Section 3.5(c), with respect to an Alternate Currency Loan:
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Alternate Currency Base Rate means, subject to the implementation of a Replacement Rate in accordance with Section 3.5(c), with respect to an Alternate Currency Loan:Equivalent” means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternate Currency as determined by the Agent or the applicable Issuing Lender (with notice thereof to the Agent), as the case may be, in its sole discretion by reference to the most recent Spot Rate (as determined in respect of the most recent Revaluation Date) for the purchase of such Alternate Currency with Dollars.
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Related to Alternate Currency Base Rate

  • Alternate Currency means (i) with respect to any Letter of Credit, Canadian Dollars, Euros, Pound Sterling, Swiss Francs, Mexican Pesos, Australian Dollars and any other currency other than Dollars as may be acceptable to the Administrative Agent and the Issuing Bank with respect thereto in their sole discretion and (ii) with respect to any Loan, any currency other than Dollars that is approved in accordance with Section 1.05.

  • Alternate Currency Loan means any Loan denominated in an Alternate Currency.

  • Eurocurrency Base Rate has the meaning specified in the definition of Eurocurrency Rate.

  • Alternate Base Rate Loans means Loans that bear interest at an interest rate based on the Alternate Base Rate.

  • Alternative Currency Daily Rate means, for any day, with respect to any Credit Extension:

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • Swingline Rate means, for any Interest Period, the rate as offered by the Administrative Agent and accepted by the Borrower. The Borrower is under no obligation to accept this rate and the Administrative Agent is under no obligation to provide it.

  • Alternate Base Rate Loan means a Loan which bears interest at the Alternate Base Rate.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Alternative Currency Daily Rate Loan means a Loan that bears interest at a rate based on the definition of “Alternative Currency Daily Rate.” All Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.

  • Alternative Currency Loan means an Alternative Currency Daily Rate Loan or an Alternative Currency Term Rate Loan, as applicable.

  • Overnight Foreign Currency Rate means, for any amount payable in a Foreign Currency, the rate of interest per annum as determined by the Administrative Agent at which overnight or weekend deposits in the relevant currency (or if such amount due remains unpaid for more than three (3) Business Days, then for such other period of time as the Administrative Agent may elect) for delivery in immediately available and freely transferable funds would be offered by the Administrative Agent to major banks in the interbank market upon request of such major banks for the relevant currency as determined above and in an amount comparable to the unpaid principal amount of the related Credit Event, plus any taxes, levies, imposts, duties, deductions, charges or withholdings imposed upon, or charged to, the Administrative Agent by any relevant correspondent bank in respect of such amount in such relevant currency.

  • Alternative Currency Term Rate means, for any Interest Period, with respect to any Credit Extension:

  • Reference Currency means the currency specified as such in the applicable Final Terms.

  • Canadian Base Rate means the rate determined by the Agent as the higher of (i) the annual rate of interest announced by the Agent (or any of its branches) as being its “prime rate” for determining interest rates on Canadian Dollar-denominated commercial loans made by it in Canada and (ii) the BA Rate (after giving effect to any minimum rate set forth in the definition thereof) for a one month BA Interest Period commencing on such day (or, if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Base Rate Committed Loan means a Committed Loan that is a Base Rate Loan.

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

  • Alternative Currency means each of Euro, Sterling, Yen and each other currency (other than Dollars) that is approved in accordance with Section 1.07.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • Canadian Base Rate Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Canadian Base Rate in accordance with the provisions of Article II.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(i).

  • Alternative Currency Term Rate Loan means a Loan that bears interest at a rate based on the definition of “Alternative Currency Term Rate.” All Alternative Currency Term Rate Loans must be denominated in an Alternative Currency.

  • Reference Rate Loan means any Committed Loan that bears interest at a rate determined with reference to the Reference Rate.

  • Euro-Dollar Rate means a rate of interest determined pursuant to Section 2.07 on the basis of an Adjusted London Interbank Offered Rate.

  • Alternative Base Rate means the rate that has replaced LIBOR in customary market usage for determining floating interest rates in respect of bonds denominated in Dollars or, if the Independent Financial Adviser or the Issuer (in consultation with the Calculation Agent and acting in good faith and a commercially reasonable manner), as applicable, determines that there is no such rate, such other rate as the Independent Financial Adviser or the Issuer (in consultation with the Calculation Agent and acting in good faith and a commercially reasonable manner), as applicable, determines in its or the Issuer’s sole discretion is most comparable to LIBOR. If the Alternative Base Rate is determined, such Alternative Base Rate shall be the Alternative Base Rate for the remaining Interest Periods.