Applicable Interest Rate means the rate or rates at which the outstanding principal amount of the Loan bears interest from time to time in accordance with the provisions of Section 2.2.3 hereof.

Applicable Interest Rate means (i) with respect to any Fixed Rate Indebtedness, the fixed interest rate applicable to such Fixed Rate Indebtedness at the time in question, and (ii) with respect to any Floating Rate Indebtedness, either (x) the rate at which the interest rate applicable to such Floating Rate Indebtedness is actually capped (or fixed pursuant to an interest rate hedging device), at the time of calculation, if Borrower has entered into an interest rate cap agreement or other interest rate hedging device with respect thereto or (y) if Borrower has not entered into an interest rate cap agreement or other interest rate hedging device with respect to such Floating Rate Indebtedness, the greater of (A) the rate at which the interest rate applicable to such Floating Rate Indebtedness could be fixed for the remaining term of such Floating Rate Indebtedness, at the time of calculation, by Borrower’s entering into any unsecured interest rate hedging device either not requiring an upfront payment or if requiring an upfront payment, such upfront payment shall be amortized over the term of such device and included in the calculation of the interest rate (or, if such rate is incapable of being fixed by entering into an unsecured interest rate hedging device at the time of calculation, a fixed rate equivalent reasonably determined by Administrative Agent) or (B) the floating rate applicable to such Floating Rate Indebtedness at the time in question.

Applicable Interest Rate means, (i) with respect to each Revolving Credit Advance and Term Loan Advance, the Eurodollar-based Rate or the Base Rate, and (ii) with respect to each Swing Line Advance, the Base Rate or, if made available to the Borrower by the Swing Line Lender at its option, the Quoted Rate, in each case as selected by the Borrower from time to time subject to the terms and conditions of this Agreement.

## Examples of *Applicable Interest Rate* in a sentence

The Borrowers shall pay interest on each Loan owing by it during each month applicable thereto in Canadian Dollars at a rate per annum equal to the

**Applicable Interest Rate**, calculated daily and payable monthly in arrears on the last day of such month, commencing with the first interest payment being made on October 31, 2020.

## More Definitions of *Applicable Interest Rate*

Applicable Interest Rate means the rate per annum which is 2 % per annum in excess of the fluctuating prime rate announced or established from time to time by Northern Trust (the "Bank"), accruing on a 360-day basis on outstanding principal. The prime rate is a reference rate only, and is not necessarily the lowest or best rate offered by Bank for loans to its borrowers. The Applicable Interest Rate shall automatically adjust on each date that the Bank adjusts its prime rate.

Applicable Interest Rate means the lesser of (x) the rate at which ------------------------ the interest rate applicable to any floating rate Debt could be fixed, at the time of calculation, by the Borrower entering into an unsecured interest rate swap agreement (or, if such rate is incapable of being fixed by entering into an unsecured interest rate swap agreement at the time of calculation, a reasonably determined fixed rate equivalent), and (y) the rate at which the interest rate applicable to such floating rate Debt is actually capped, at the time of calculation, if the Borrower has entered into an interest rate cap agreement with respect thereto or if the documentation for such Debt contains a cap.

Applicable Interest Rate means the Eurodollar-based Rate or the Prime-based Rate, as selected by Company from time to time subject to the terms and conditions of this Agreement.

Applicable Interest Rate means the Note A Interest Rate or the Note B Interest Rate, as the case may be.

Applicable Interest Rate means the LIBOR-based Rate plus the Applicable Margin or the Prime Referenced Rate plus the Applicable Margin, as selected by the undersigned from time to time or as otherwise determined in accordance with the terms and conditions of this Note.

Applicable Interest Rate means the Interest Rate, or, for so long as an Event of Default shall have occurred and be continuing, the Default Rate.