Alternate Rate Event definition
Examples of Alternate Rate Event in a sentence
In the case of a Floating Rate Bearer Note, the Initial Interest Rate (if known at such time), the Interest Payment Dates, the Interest Payment Period, the Calculation Agent, the Base Rate, the Index Maturity, the Interest Reset Period, the Interest Determination Date, the Interest Reset Dates, the Spread or Spread Multiplier (if any), the Minimum Interest Rate (if any), the Maximum Interest Rate (if any), the Alternate Rate Event Spread (if any) and the Floating Day Count Fraction.
For the avoidance of doubt, any Alternative Rate Conforming Changes in any amendment to this Agreement may be retroactive (including retroactive to the date of an Alternate Rate Event) and this Agreement may be amended more than once in connection with Alternative Rate Conforming Changes; provided, that no such retroactive Alternative Rate Conforming Change shall alter any interest payment previously paid.
Upon and during the continuance of any Alternate Rate Event with respect to an Alternate Senior Credit Facility, permit the Consolidated Senior Leverage Ratio, as shall be calculated at the end of each fiscal quarter, commencing with the fiscal quarter during which such Alternate Rate Event occurs, to be greater than 3.00:1.00.
If the banks so selected by the Calculation Agent are not quoting as mentioned in this Section 2.15(b), then, subject to the occurrence of an Alternate Rate Event, LIBOR for the applicable Interest Determination Date will be LIBOR in effect on the preceding Interest Determination Date.
For the avoidance of doubt, any Alternative Rate Conforming Changes in any amendment to this Agreement of Definitions may be retroactive (including retroactive to the date of an Alternate Rate Event) and this Agreement of Definitions may be amended more than once in connection with Alternative Rate Conforming Changes; provided, that no such retroactive Alternative Rate Conforming Change shall alter any interest payment previously paid.
For the avoidance of doubt, any Alternative Rate Conforming Changes in any amendment to this Indenture may be retroactive (including retroactive to the date of an Alternate Rate Event) and this Indenture may be amended more than once in connection with Alternative Rate Conforming Changes; provided, that no such retroactive Alternative Rate Conforming Change shall alter any interest payment previously paid.
If the FHLB of San Francisco shall fail in any month to make available the 11th District Cost of Funds Index (each such failure being referred to herein as an "Alternate Rate Event"), then the 11th District Cost of Funds Rate for the 11th District Cost of Funds Interest Determination Date after the Alternate Rate Event shall be calculated on the basis of the 11th District Cost of Funds Index most recently made available prior to such 11th District Costs of Funds Interest Determination Date.
For the avoidance of doubt, any Alternative Rate Conforming Changes 37 (NALT 2019-B Agreement of Definitions) in any amendment to this Agreement of Definitions may be retroactive (including retroactive to the date of an Alternate Rate Event) and this Agreement of Definitions may be amended more than once in connection with Alternative Rate Conforming Changes; provided, that no such retroactive Alternative Rate Conforming Change shall alter any interest payment previously paid.
By accepting a Note or a beneficial interest therein, each Noteholder will be deemed to waive and release any and all claims against NMAC relating to any action or inaction taken or refrained from being taken by NMAC with respect to any Benchmark determination or from NMAC causing or failing to cause an Alternate Rate Event to occur.
For the avoidance of doubt, prior to an Alternate Rate Event, in no event shall the Calculation Agent be responsible for, other than as set forth in this Section 2.15(b), determining LIBOR or any substitute for LIBOR if such rate does not appear on the Designated LIBOR Page.