Base Rate Advances definition

Base Rate Advances means Advances that bear interest at rates based upon the Base Rate.

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Base Rate Advances means Advances on which interest is determined by reference to the Base Rate in effect from time to time.

Base Rate Advances means advances bearing interest at the Base Rate plus the Applicable Base Rate Margin.

Examples of Base Rate Advances in a sentence

• Interest on Base Rate Advances then outstanding shall also be due and payable on the Maturity Date.

• During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (A) the Base Rate in effect from time to time plus (B) the Applicable Margin in respect of Base Rate Advances in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

• The Liquidity Provider shall withdraw a Rate Determination Notice given hereunder when the Liquidity Provider determines that the circumstances giving rise to such Rate Determination Notice no longer apply to the Liquidity Provider, and the Base Rate Advances shall be converted to LIBOR Advances effective as of the first day of the next succeeding Interest Period after the date of such withdrawal.

• If no such designation or other action is effected, or, if effected, fails to avoid the need for conversion of the LIBOR Advances to Base Rate Advances, American may arrange for a Replacement Liquidity Facility in accordance with Section 3.05(e) of the Intercreditor Agreement.

• If such notice is given, then the outstanding principal amount of the LIBOR Advances shall be converted to Base Rate Advances effective from the date of the Rate Determination Notice; provided that the Applicable Liquidity Rate in respect of such Base Rate Advances shall be increased by one percent (1.00%).

More Definitions of Base Rate Advances

Base Rate Advances means Dollar Advances (or any portion thereof) for which the applicable rate of interest is based upon the Base Rate.

Base Rate Advances. Advances bearing interest calculated by reference to the Base Rate.

Base Rate Advances means Advances that bear interest based upon the Base Rate.

Base Rate Advances means any Credit Extension on which interest is payable based on the Base Rate in accordance with the terms hereof.

Base Rate Advances means Advances the rate of interest applicable to which is based upon the Base Rate. “Board” means the Board of Governors of the Federal Reserve System of the United States (or any successor). “Borrower” has the meaning set forth in the preamble to this Agreement.

Base Rate Advances based upon the ratings established by S&P and ▇▇▇▇▇'▇ for the Index Debt as of the most recent determination date: Applicable Margin Pricing Grid Applicable Margin Revolving and Term S&P ▇▇▇▇▇'▇ Facilities ----------- ----------------- Eurodollar Rate Base Rate Advances Advances I: At least BBB and Baa2 1.00% 0.00% II: Below I, but at least BBB- and Baa3 1.25% 0.25% III: Below II, but at least BB+ and Ba1 1.50% 0.50% IV: Below III, but at least BB+ and Ba2 or BB and Ba1 1.75% 0.75% V: Below IV, but at least BB and Ba2 2.00% 1.00% VI: Below V 2.25% 1.25% For purposes of the foregoing (i) if either ▇▇▇▇▇'▇ or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence hereof), then such rating agency shall be deemed to have established a rating in Level VI; (ii) except as set forth in the Pricing Grid above, if the ratings established or deemed to have been established by ▇▇▇▇▇'▇ or S&P for the Index Debt shall fall within different levels, the applicable percentage will be based on the lower of the two ratings unless one of the two ratings is two or more levels lower than the other, in which case the applicable percentage shall be determined by reference to the level next above that of the lower of the two ratings; and (iii) if the ratings established or deemed to have been established by ▇▇▇▇▇'▇ or S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of ▇▇▇▇▇'▇ or S&P), such change shall be effective as of the date on which it is first announced by the applicable

Base Rate Advances means any Advances made or a portion thereof on which interest is payable based on the Base Rate in accordance with the terms hereof. "Business Day" means a day of the year (a) that is not a Saturday, Sunday or other day on which banks in the State of California or the City of London are authorized or required to close and (b) on which dealings are carried on in the interbank market in which Bank customarily participates. "Interest Period" means for each LIBOR Rate Advance, a period of approximately one, two or three months as the Borrower may elect, provided that the last day of an Interest Period for a LIBOR Rate Advance shall be determined in accordance with the practices of the LIBOR interbank market as from time to time in effect, provided further in all cases such period shall expire not later than the applicable Maturity Date. "Interest Rate" shall mean as to: (a) Base Rate Advances, a rate equal to the Base Rate; and (b) LIBOR Rate Advances, a rate of 1.25% per annum in excess of the LIBOR Rate (based on the LIBOR Rate applicable for the Interest Period selected by the Borrower). "LIBOR Base Rate" means, for any Interest Period for a LIBOR Rate Advance, the rate of interest per annum determined by Bank to be the per annum rate of interest at which deposits in United States Dollars are offered to Bank in the London interbank market in which Bank customarily participates at 11:00 A.M. (local time in such interbank market) two (2) Business Days before the first day of such Interest Period for a period approximately equal to such Interest Period and in an amount approximately equal to the amount of such Advance. "LIBOR Rate" shall mean, for any Interest Period for a LIBOR Rate Advance, a rate per annum (rounded upwards, if necessary, to the nearest 1/16 of 1%) equal to (i) the LIBOR Base Rate for such Interest Period divided by (ii) 1 minus the Reserve Requirement for such Interest Period. "LIBOR Rate Advances" means any Advances made or a portion thereof on which interest is payable based on the LIBOR Rate in accordance with the terms hereof. "Regulatory Change" means, with respect to Bank, any change on or after the date of this Agreement in United States federal, state or foreign laws or regulations, including Regulation D, or the adoption or making on or after such date of any interpretations, directives or requests applying to a class of lenders including Bank of or under any United States federal or state, or any foreign, laws or regulations (whe...