Applicable Rate means, for any day, with respect to any Eurodollar Loan, or with respect to the facility fees payable hereunder, as the case may be (subject to the immediately following paragraph of this defined term), the applicable rate per annum set forth below under the caption “Eurodollar Spread”, “ABR Spread” or “Facility Fee Rate”, as the case may be, based upon the ratings by Xxxxx'x and/or S&P, respectively, applicable on such date to the Index Debt: Index Debt Ratings: (Xxxxx’x/S&P) Eurodollar Spread ABR Spread Facility Fee Rate Category 1 > A2/A 0.815% 0.000% 0.060% Category 2 A3/A- 0.925% 0.000% 0.075% Category 3 Baa1/BBB+ 1.025% 0.025% 0.100% Category 4 Baa2/BBB 1.125% 0.125% 0.125% Category 5 < Baa3/BBB- 1.350% 0.350% 0.150% For purposes of the foregoing, (i) if only one of Xxxxx'x and S&P shall have in effect a rating for the Index Debt (other than by reason of a change in the rating system of, or unavailability of a ratings by, such rating agencies, as referred to in the last sentence of this paragraph), then the other rating agency shall be deemed to have established a rating in the same Category as such agency; (ii) if each of Xxxxx’x and S&P shall have in effect a rating for the Index Debt, and such ratings shall fall within different Categories, the Applicable Rate shall be based on the higher of the two ratings; and (iii) if the ratings established or deemed to have been established by Xxxxx'x and/or S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of Xxxxx'x or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of Xxxxx'x or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Applicable Rate shall be determined by reference to the rating most recently in effect prior to such change or cessation.
Taxable Rate means, with respect to a Taxable Period, the product of (i) the average interest rate on the Bonds during such period and (ii) 1.54.
Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.
Fee Rate means initially 0.25% per annum, which shall be subject to increase by 0.25% per annum for each Week in respect of which any Failure has occurred and is continuing.
Applicable Rating means the rating assigned to each Class of the Series 2013-T1 Notes by S&P, as the Note Rating Agency, upon the issuance of such Class as set forth below:
Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.60%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.
Reference Rate means the rate specified as such hereon.
Facility Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.
Applicable ABR Margin means, at any date:
LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.
LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).
Benchmarked Rates means the Services that the Supplier elects to include in a Benchmarking Review, based on forecast frequency of use;
LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.
Undrawn Fee Rate For any VFN Class, the rate set forth or described in the related Indenture Supplement, if any. United States and U.S.: The United States of America.
L/C Fee Rate means the rates set forth in Schedule 1 hereto beside the then applicable Level.
Commitment Fee Rate has the meaning set forth in the definition of “Applicable Margin”.
Free Margin means the amount of funds available in the Client Account, which may be used to open a position or maintain an Open Position. Free Margin shall be calculated as: Equity less (minus) Necessary Margin [Free margin = Equity- Necessary Margin].
Base Rate Margin has the meaning set forth in the definition of Applicable Margin.
Term SOFR Reference Rate means the forward-looking term rate based on SOFR.
Applicable Commitment Fee Rate means: