Daily Floating Rate definition
Daily Floating Rate means a Daily Simple SOFR Rate, Daily Compounded ▇▇▇▇▇, Overnight TIIE or a Daily Floating ▇▇▇▇▇ ▇▇▇▇, as applicable.
Daily Floating Rate means a Daily Simple SOFR Rate or a Daily Floating SONIA Rate, as applicable.
Daily Floating Rate means the fluctuating rate per annum equal to LIBOR, as published by Reuters (or such other commercially available source providing quotations of LIBOR as may be designated by the Administrative Agent from time to time) and determined for each Business Day at approximately 11:00 a.m. London time two Business Days prior to the date in question, for U.S. Dollar deposits (for delivery on the first day of such interest period) with a one month term, as adjusted from time to time in the Administrative Agent’s sole discretion for reserve requirements, deposit insurance assessment rates and other regulatory costs. In any instance in which the aforesaid source of such reference rate is not available for any reason, then the Administrative Agent shall select another, commercially reasonable method to determine the one month London Interbank Offered Rate and such rate, as so determined, shall be the reference rate used to determine the Daily Floating Rate hereunder. The Daily Floating Rate in effect on any day other than a Business Day shall be the Daily Floating Rate in effect on the immediately preceding Business Day.
Examples of Daily Floating Rate in a sentence
Any such automatic conversion to SOFR Daily Floating Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Term SOFR Loans.
If the Successor Rate is the SOFR Daily Floating Rate, all interest payments will be payable on a monthly basis.
Alternative Currency Tranche Loans denominated in Sterling may only be ▇▇▇▇▇ Daily Floating Rate Loans, and Alternative Currency Tranche Loans denominated in Euro or Canadian Dollars may only be Eurocurrency Rate Loans, as further provided herein.
If Borrower fails to specify a Type of Term Loan in the Term Loan Notice with respect to the Borrowing or if Borrower fails to give a timely notice requesting a conversion or continuation of the Term Loan, then the Term Loan shall be made as, or converted to, SOFR Daily Floating Rate Loans.
Each Borrowing of ▇▇▇▇▇ Daily Floating Rate Loans shall be in a principal amount of £500,000 or a whole multiple of £100,000 in excess thereof.
More Definitions of Daily Floating Rate
Daily Floating Rate as of any date of determination, the rate per annum equal to the London Interbank Offered Rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for Dollars for delivery on the date in question for a one month Interest Period beginning on that date as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the date in question, as adjusted from time to time in the Administrative Agent’s sole discretion for reserve requirements, deposit insurance assessment rates and other regulatory costs; provided that if the Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement. The Daily Floating Rate is a fluctuating rate of interest which can change on each Business Day.
Daily Floating Rate means LIBOR Daily Floating Rate or S▇▇▇▇ Daily Floating Rate, as applicable.
Daily Floating Rate means a Daily Simple SOFR Rate, Daily Compounded CORRA, Overnight TIIE or a Daily Floating SONIA Rate, as applicable.
Daily Floating Rate means LIBOR Daily Floating Rate or SONIA Daily Floating Rate, as applicable.
Daily Floating Rate as of any date of determination, the rate per annum equal to LIBOR for Dollars for delivery on the date in question for a one month Interest Period beginning on that date as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the date in question, as adjusted from time to time in the Administrative Agent’s sole discretion for reserve requirements, deposit insurance assessment rates and other regulatory costsfor any day, a fluctuating rate of interest, which can change on each Business Day, equal to the Term SOFR Screen Rate two U.S. Government Securities Business Days prior to such day, with a term equivalent to one month beginning on that date; provided, that, if the rate is not published prior to 11:00 a.m. on such determination date then the Daily Floating Rate means such Term SOFR Screen Rate on the first U.S. Government Securities Business Day immediately prior thereto, in each case, plus the SOFR Adjustment; provided, further, that, if the Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement. The Daily Floating Rate is a fluctuating rate of interest which can change on each Business Day.
Daily Floating Rate for any day, a fluctuating rate of interest, which can change on each Business Day, equal to the Term SOFR Screen Rate two U.S. Government Securities Business Days prior to such day, with a term equivalent to one month beginning on that date; provided, that, if the rate is not published prior to 11:00 a.m. on such determination date then the Daily Floating Rate means such Term SOFR Screen Rate on the first U.S. Government Securities Business Day immediately prior thereto, in each case, plus the SOFR Adjustment; provided, further, that, if the Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.
Daily Floating Rate. “SOFR,” “Term SOFR”, and “Interest Period”, the timing and frequency of determining rates and making payments of interest and other technical, administrative or operational matters (including, for the avoidance of doubt, the definitions of “Business Day” and “U.S. Government Securities Business Day”, timing of borrowing requests or prepayment, conversion or continuation notices and length of lookback periods) as may be appropriate, in the discretion of the Administrative Agent in consultation with the Parent, to reflect the adoption and implementation of such applicable rate(s) and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such rate exists, in such other manner of administration as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement and any other Loan Document).