Alternative Reference Rate means the rate that the Independent Adviser or the Issuer (as applicable) determines has replaced the relevant Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest in respect of bonds denominated in the Specified Currency and of a comparable duration to the relevant Interest Period, or, if the Independent Adviser or the Issuer (as applicable) determines that there is no such rate, such other rate as the Independent Adviser or the Issuer (as applicable) determines in its discretion (acting in good faith) is most comparable to the relevant Reference Rate;
Alternative Reference Rate means an alternative benchmark or screen rate that the relevant Independent Adviser or the Issuer (as applicable) determines has replaced the Original Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest (or the relevant component part thereof) in respect of debt securities denominated in the Specified Currency and of a comparable duration:
Alternative Reference Rate means the rate (and related alternative screen page or source, if available) that the Independent Adviser (in consultation with the Bank) or the Bank (acting in good faith and in a commercially reasonable manner) (as applicable) determines is customarily applied in international debt capital markets transactions for the purposes of determining Rates of Interest (or the relevant component part thereof) in respect of Notes denominated in the Specified Currency and of a comparable duration to the relevant Interest Period or, if the Independent Adviser (in consultation with the Bank) or the Bank (acting in good faith and in a commercially reasonable manner) (as applicable) determines that there is no such rate, such other rate as the Independent Adviser (in consultation with the Bank) or the Bank (acting in good faith and in a commercially reasonable manner) (as applicable) determines in its discretion is most comparable to the relevant Reference Rate;
Examples of Alternative Reference Rate in a sentence
Original Reference Rate means the Reference Rate originally specified for the purpose of determining the relevant Rate of Interest (or any component part(s) thereof) applicable to the Notes (or, if applicable, any other Successor Reference Rate or Alternative Reference Rate (or component part(s) thereof)) determined and applicable to the Notes pursuant to the earlier operation of this Condition 4(b).
The ARRC (Alternative Reference Rate Committee) is an industry group convened by the Federal Res.
More Definitions of Alternative Reference Rate
Alternative Reference Rate means the reference rate (and related alternative screen page or source, if available) that the Independent Adviser or the Issuer (as applicable) determines has replaced the relevant Mid-Swap Floating Leg Benchmark Rate or Reference Rate (as applicable) in customary market usage for the purposes of determining floating rates of interest in respect of bonds denominated in the Specified Currency or, if the Independent Adviser or the Issuer (as applicable) determines that there is no such rate, such other rate as the Independent Adviser or the Issuer (as applicable) determines, each in its own discretion, acting in good faith, is most comparable to the relevant Mid-Swap Floating Leg Benchmark Rate or Reference Rate (as applicable);
Alternative Reference Rate means an alternative benchmark or screen rate which the Independent Adviser (following consultation with the Issuer and the Guarantors) determines, in accordance with Condition 6.2(i) (Benchmark Replacement), is customarily applied in international debt capital markets transactions for the purposes of determining interest rates in the same Specified Currency as the Notes and of a comparable duration to the relevant Interest Period or, if the Independent Adviser determines that there is no such
Alternative Reference Rate means the reference rate (and related alternative screen page or source, if available) that the Independent Adviser or the Company (as applicable) determines has replaced LIBOR in customary market usage for the purposes of determining floating rates of interest in respect of securities denominated in U.S. dollars, or, if the Independent Adviser or the Company (as applicable) determines that there is no such rate, such other rate as the Independent Adviser or the Company (as applicable) determines, each as in our own discretion acting in good faith, is most comparable to LIBOR.
Alternative Reference Rate means an alternative rate to the Original Reference Rate which the Independent Adviser determines, in accordance with Condition 5(l)(A) has replaced the Original Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest (or the relevant component part thereof) for the same interest period and in the same Specified Currency as the Notes or, if such Independent Adviser determines that there is no such rate, such other rate as such Independent Adviser determines in its discretion is most comparable to the Original Reference Rate.
Alternative Reference Rate means the rate that the Issuer (acting in good faith and in a commercially reasonable manner and by reference to such sources as it deems appropriate, which may include consultation with an Independent Adviser) determines has replaced the current Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest in respect of bonds denominated in the Specified Currency and of a comparable duration to the relevant Interest Period, or, if the Issuer determines that there is no such rate, such other rate as the Issuer determines in its discretion (acting in good faith and in a commercially reasonable manner and by reference to such sources as it deems appropriate, which may include consultation with an Independent Adviser) is most comparable to the current Reference Rate;
Alternative Reference Rate means an alternative benchmark or screen rate which the relevant Independent Adviser or the Issuer (as applicable) determines in accordance with Condition 5(b)(iii)(F) is customarily appliedin the international debt capital markets for the purposes of determining floating rates of interest in respect of notes denominated in the Specified Currency and of a comparable duration to the relevant Interest Accrual Period, and which, in the circumstances contemplated in limb (vii) of the definition of Benchmark Event shall be deemed to be the New Reference Rate.
Alternative Reference Rate. (1) the replacement rate (and any related adjustment) proposed by the Collateral Manager and consented to by a Majority of the Controlling Class and a Majority of the Preferred Shares or (2) if no replacement rate is effective pursuant to clause (1), the applicable Benchmark Replacement; provided that the Alternative Reference Rate will be no less than zero.