Daily Rate definition
Daily Rate means the rate specified as such in the Reference Rate Terms.
Daily Rate for any RFR Banking Day is:
Daily Rate. For any day, (i)(A) the Overnight Bank Rate for such day, minus (B) the Spread, divided by (ii) 365. Overnight Bank Rate: For any day, the rate set forth for such day opposite the caption “Overnight Bank Funding Rate”, as such rate is displayed on Bloomberg Screen “OBFR01 <Index> <GO>”, or any successor page; provided that, if no rate appears for a particular day on such page, the rate for the immediately preceding day for which a rate does so appear shall be used for such day. Spread: 75 basis points. Prepayment: Not Applicable. Variable Obligation: Not Applicable. Forward Price Reduction Date: Each date (other than the Trade Date) set forth on Schedule I under the heading “Forward Price Reduction Date.”
Examples of Daily Rate in a sentence
Daily rate calculation base is 360 days per year; conversion formula: Daily Rate = Annual Rate / 360.
During such periods as such Advance is an Alternative Currency Daily Rate Advance, a rate per annum equal at all times to the sum of (x) the Alternative Currency Daily Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears on each Interest Payment Date and on the date such Alternative Currency Daily Rate Advance shall be paid in full.
The applicable Base Rate, Alternative Currency Term Rate, Term SOFR or Alternative Currency Daily Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
Interest calculation formula: Interest = Principal × Actual Number of Days × Daily Rate.
More Definitions of Daily Rate
Daily Rate means the rate of interest on a Group of 2024 Series A Bonds described in Section 201 of Appendix A hereto.
Daily Rate. For any day, (i)(A) Overnight Bank Rate for such day, minus (B) the Spread, divided by (ii) 365. Overnight Bank Rate: For any day, the rate set forth for such day opposite the caption “Overnight bank funding rate,” as such rate is displayed on Bloomberg Screen “OBFR01 <Index> <GO>”, or any successor page; provided that, if no rate appears for a particular day on such page, the rate for the immediately preceding day for which a rate does so appear shall be used for such day. Spread: [⚫] basis points Prepayment: Not Applicable Variable Obligation: Not Applicable Forward Price Reduction Dates: As set forth on Schedule I Forward Price Reduction Amounts: For each Forward Price Reduction Date, the Forward Price Reduction Amount set forth opposite such date on Schedule I Exchange: The New York Stock Exchange Related Exchange(s): All Exchanges Clearance System: The Depository Trust Company Securities Act: Securities Act of 1933, as amended Exchange Act: Securities Exchange Act of 1934, as amended
Daily Rate. For any day, (i)(A) the Overnight Bank Rate for such day, minus (B) the Spread, divided by (ii) 365. Overnight Bank Rate: For any day, the rate set forth for such day opposite the caption “Overnight bank funding rate”, as such rate is displayed on Bloomberg Screen “OBFR01 <Index> <GO>”, or any successor page; provided that, if no rate appears for a particular day on such page, the rate for the immediately preceding day for which a rate does so appear shall be used for such day. Spread: 0.75% Forward Price Reduction Date: Each date (other than the Trade Date) set forth on Schedule I under the heading “Forward Price Reduction Date.”
Daily Rate means an interest rate on the Bonds set under Section 2.02(a)(l).
Daily Rate. For any day, (i)(A) the Overnight Bank Rate for such day, minus (B) the Spread, divided by (ii) 365. Overnight Bank Rate: For any day, the rate set forth for such day opposite the caption “Overnight bank funding rate”, as such rate is displayed on Bloomberg Screen “OBFR01 <Index> <GO>”, or any successor page; provided that, if no rate appears for a particular day on such page, the rate for the immediately preceding day for which a rate does so appear shall be used for such day. Spread: 0.75%
Daily Rate means the rate at which Multi-Modal Bonds bear interest during a Daily Rate Period.
Daily Rate. For any day, a rate (which may be positive or negative) equal to (i) (a) Overnight Bank Funding Rate for such day minus (b) the Spread divided by (ii) 360. Overnight Bank Funding Rate: For any day, the rate set forth for such day opposite the caption “Overnight Bank Funding Rate”, as such rate is displayed on Bloomberg Screen “OBFR01 <Index><GO>”, or any successor page; provided that, if no rate appears for a particular day on such page, the rate for the immediately preceding day for which a rate does so appear shall be used for such day. Spread: 75 basis points Prepayment: Not Applicable Variable Obligation: Not Applicable