APPLICABLE FLOATING definition
APPLICABLE FLOATING. RATE MARGIN" as at any date of determination, shall be the rate per annum then applicable to Base Rate Loans determined in accordance with the provisions of SECTION 2.8(b). "APPLICABLE LETTER OF CREDIT FEE" as at any date of determination, shall be the rate per annum then applicable in the determination of the amount payable under SECTION 2.25 with respect to Letters of Credit, determined in accordance with the provisions of SECTION 2.8(b). "APPLICABLE MARGIN(S)" shall have the meaning ascribed to that term in SECTION 2.8(b).
APPLICABLE FLOATING. RATE MARGIN" as at any date of determination, shall be the rate per annum then applicable to Base Rate Loans and, unless alternate pricing provisions are set forth in the applicable Alternate Currency Addendum, for Alternate Currency Advances which are Floating Rate Advances, determined in accordance with the provisions of Section 2.8(b). "APPLICABLE LETTER OF CREDIT FEE" as at any date of determination, shall be the rate per annum then applicable in the determination of the amount payable under Section 2.25 with respect to Letters of Credit, determined in accordance with the provisions of Section 2.8(b).
APPLICABLE FLOATING. Rate The Adjusted LIBOR Rate or (b) Adjusted Alternate Base Rate, as selected by the Issuer for an Interest Period. The Issuer shall be deemed to have selected the Adjusted LIBOR Rate for each Interest Period, unless the Issuer gives notice to the holders of the Note, on or prior to the second Business Day preceding such Interest Period, that either (i) the Issuer selects the Adjusted Alternate Base Rate or (ii) the Adjusted Alternate Base Rate must be utilized because adequate and reasonable means do not exist for determining the Adjusted LIBOR Rate. Adjusted Alternate Base Rate Alternate Base Rate plus 200 basis points. Adjusted LIBOR Rate LIBOR plus 300 basis points. Alternate Base Rate For any day, a rate per annum equal to the higher of: (a) the rate of interest which is established from time to time by Bank of America, N.A. as its “prime rate” or “base rate” in effect, such rate to be adjusted automatically, without notice, as of the opening of business on the effective date of any change in such rate (it being agreed that: (i) such rate is not necessarily the lowest rate of interest then available from Bank of America, N.A. on fluctuating rate loans and (ii) such rate may be established by Bank of America, N.A. by public announcement or otherwise) and (b) the Federal Funds Rate in effect on such day plus one half of one percent (1/2 of 1%) per annum.
Examples of APPLICABLE FLOATING in a sentence
APPLICABLE EURODOLLAR MARGIN, APPLICABLE FLOATING RATE MARGIN AND APPLICABLE COMMITMENT FEE PERCENTAGE.