ASK Rate definition

ASK Rate for any day, a variable per annum rate equal to the “ASK” rate for overnight Federal funds as published by Reuters on the date the Borrower requests an ASK Rate Loan hereunder and on each day thereafter that such ASK Rate Loan is outstanding; provided, however, if such rate is not available at such time for any reason, then the “ASK Rate” shall be, for any day, the rate per annum reasonably determined by the Swing Line Lender to be the rate at which deposits in Dollars in same day funds in the approximate amount of the ASK Rate Loan by the Swing Line Lender would be offered for overnight borrowings by the Swing Line Lender’s London Branch to major banks in the London interbank Eurodollar market at their request at approximately 11:00 A.M. (London time) on the date the Borrower requests an ASK Rate Loan hereunder and on each day thereafter that such ASK Rate Loan is outstanding; provided that in conjunction with each of the preceding determinations, upon request of the Borrower, the Borrower is provided a written description of the applicable ASK Rate and the sources used to determine such rate.
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ASK Rate means, on any date and with respect to ASK Rate Loans, a fluctuating rate of interest per annum equal to the “ASK” rate for Federal Funds appearing on Page 5 of the Telerate Service (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by the Administrative Agent from time to time for purposes of providing quotations of the offer rates applicable to Federal Funds for a term of one Business Day) at the time reviewed by the Administrative Agent. In the event such rate is not available at such time for any reason, then such rate will be the rate agreed to between the Administrative Agent and the Borrower. The Borrower understands and agrees that the rate quoted from Page 5 of the Telerate Service is a real-time rate that changes from time to time but that the Administrative Agent will set the ASK Rate no more than once per Business Day. The rate quoted by the Administrative Agent and used for the purpose of setting the interest rate for a Swingline Loan until the next Business Day will be the rate on the screen of the Administrative Agent at the time of setting the rate and will not be an average or composite of rates for that day. Changes in the rate of interest on that portion of any Loans maintained as ASK Rate Loans will take effect simultaneously with each such setting of the ASK Rate.
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ASK Rate. “ASK Rate Loans”, “Reference Lenders”, “Refunded Swing Line Loans”, “Swing Line Commitment”, “Swing Line Lender”, “Swing Line Loan”, “Swing Line Note”, and “Swing Line Participation Amount”.
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Examples of ASK Rate in a sentence

  • Any change in the interest rate on a Loan resulting from a change in the Reference Rate, the ABR, the ASK Rate or the Applicable Margin shall become effective as of the opening of business on the day on which such change in the ABR, the ASK Rate or Reference Rate is announced or such Applicable Margin changes as provided herein, as the case may be.

  • The Borrower shall give the Swing Line Lender irrevocable written notice (which notice must be received by such Swing Line Lender prior to (x) 3:00 P.M., New York City time, in the case of ABR Loans and (y) 2:00 P.M., New York City time, in the case of ASK Rate Loans), on the requested Borrowing Date specifying the Type and amount of the requested Swing Line Loan which shall be in a minimum amount of $500,000 or whole multiples of $100,000 in excess thereof.

  • The Swing Line Loans may from time to time be (i) ABR Loans, (ii) ASK Rate Loans or (iii) a combination thereof, as determined by the Borrower and notified to the Administrative Agent in accordance herewith and shall not be entitled to be converted into Eurodollar Loans or Reference Rate Loans.

  • Commitment Fees and interest in respect of ASK Rate Loans and Eurodollar Loans shall be calculated on the basis of a 360 day year for the actual days elapsed.

  • Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day), the amount of the requested Swingline Loan and whether the Swingline Loan will be a Base Rate Loan or a ASK Rate Loan.

  • Commitment Fees, Ticking Fees and interest in respect of ASK Rate Loans and Eurocurrency Loans shall be calculated on the basis of a 360 day year for the actual days elapsed.

  • Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and amount of the requested Swingline Loan(which shall be in a minimum amount of $5,000,000 and an integral multiple of $1,000,000) and whether the Swingline Loan will be a Base Rate Loan or an ASK Rate Loan.

  • The Borrower shall give the Swing Line Lender irrevocable written notice (which notice must be received by such Swing Line Lender prior to (x) 3:00 P.M., New York City time, in the case of ABR Loans and (y) 2:00 P.M., New York City time, in the case of ASK Rate Loans), on the requested Borrowing Date specifying the Type and amount of the requested Swing Line Loan which shall be in a minimum amount of $5,000,000 or whole multiples of $1,000,000 in excess thereof.

  • Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and amount of the requested Borrowing of Swingline Loans (which shall be in a minimum amount of $5,000,000 and an integral multiple of $1,000,000) and whether the Swingline Loans will be Base Rate Loans or ASK Rate Loans.

  • The Swing Line Loans may from time to time be (i) ABR Loans, (ii) ASK Rate Loans or (iii) a combination thereof, as determined by the Borrower and notified to the Administrative Agent in accordance herewith and shall not be entitled to be converted into Eurocurrency Loans or Reference Rate Loans.


More Definitions of ASK Rate

ASK Rate means, on any date, a fluctuating rate per annum equal to the “ASK” rate for Federal Funds appearing on the appropriate Reuters screen (or, in the event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes rate quotations comparable to those currently provided on such Reuters screen
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ASK Rate means, on any date and with respect to ASK Rate Loans, a fluctuating rate of interest per annum equal to the “ASK” rate for Federal Funds appearing on the appropriate Reuters screen (or on any successor or substitute screen of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such screen of such Service, as determined by the Administrative Agent from time to time for purposes of providing quotations of the offer rates applicable to Federal Funds for a term of one Business Day) at the time reviewed by the Administrative Agent. In the event such rate is not available at such time for any reason, then such rate will be the rate agreed to between the Administrative Agent and the Borrower. The Borrower understands and agrees that the rate quoted from Reuters is a real-time rate that changes from time to time but that the Administrative Agent will set the ASK Rate no more than once per Business Day. The rate quoted by the Administrative Agent and used for the purpose of setting the interest rate for a Swingline Loan until the next Business Day will be the rate on the screen of the Administrative Agent at the time of setting the rate and will not be an average or composite of rates for that day. Changes in the rate of interest on that portion of any Loans maintained as ASK Rate Loans will take effect simultaneously with each such setting of the ASK Rate.
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ASK Rate means, on any date, a fluctuating rate per annum equal to the “ASK” rate for Federal Funds appearing on the appropriate Reuters screen (or, in the event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes rate quotations comparable to those currently provided on such Reuters screen page for purposes of providing quotations of the offer rates applicable to Federal Funds for a term of one Business Day) at the time reviewed by the Administrative Agent. In the event that such rate is not available at such time for any reason, then such rate will be the rate agreed to between the Administrative Agent, each Swingline Lender and the Borrower. The Borrower understands and agrees that the rate quoted from Reuters (or any successor or substitute thereto) is a real-time rate that changes from time to time, but that the Administrative Agent will set the ASK Rate no more than once per Business Day. The rate used for the purpose of setting the interest rate for a Swingline Loan will be the rate on the appropriate Reuters screen page (or any successor or substitute thereto) at the time reviewed by the Administrative Agent for purposes of setting such rate and will not give effect to any changes thereto after such time or to any average or composite of rates for that day. Changes in the rate of interest on that portion of any Loans maintained as ASK Rate Loans will take effect simultaneously with each such setting of the ASK Rate.
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Related to ASK Rate

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by ▇▇▇▇▇ Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • LIBOR Rate means a rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%) determined by the Administrative Agent pursuant to the following formula: LIBOR Rate = LIBOR

  • Benchmark Rate means, with respect to any Redemption Date, the rate per annum equal to the annual equivalent yield to maturity or interpolated maturity of the Comparable Benchmark Issue (as defined below), assuming a price for the Comparable Benchmark Issue (expressed as a percentage of its principal amount) equal to the Comparable Benchmark Price for such Redemption Date.

  • Bank Rate means the one year marginal cost of lending rate (MCLR) of the State Bank of India issued from time to time plus 350 basis points;”

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions: