Daily Simple ESTR definition
Daily Simple ESTR means, for any day, ESTR, with the conventions for this rate (which may include a lookback) being established by the Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple ESTR” for business loans; provided that, if the Agent decides that any such convention is not administratively feasible for the Agent, then the Agent may establish another convention in its reasonable discretion.
Daily Simple ESTR has the meaning given that term in Section 4.9.
Daily Simple ESTR means, for any day (an “ESTR Rate Day”), an interest rate per annum equal to, for any Unpaid Drawing denominated in Euro, ESTR for the day (the “ESTR Reference Day”) that is five Business Days prior to (i) if such ESTR Rate Day is a Business Day, such ESTR Rate Day or (ii) if such ESTR Rate Day is not a Business Day, the Business Day immediately preceding such ESTR Rate Day. If by 5:00 pm, (Brussels time), on the second Business Day immediately following any ESTR Reference Day, ESTR in respect of such ESTR Reference Day has not been published on the ESTR Administrator’s Website, then ESTR for such ESTR Reference Day will be ESTR as published in respect of the first preceding Business Day for which ESTR was published on the ESTR Administrator’s Website; provided that ESTR as determined pursuant to this sentence shall be utilized for purposes of calculating the Daily Simple ESTR for no more than three consecutive ESTR Rate Days. Any change in Daily Simple ESTR due to a change in ESTR shall be effective from and including the effective date of such change in ESTR without notice to any Borrower.
Examples of Daily Simple ESTR in a sentence
The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of Term SOFR, the Term SOFR Reference Rate, the EURIBOR Rate, ▇▇▇▇▇, the Daily Simple ▇▇▇▇▇, ESTR or the Daily Simple ESTR, any alternative, successor or replacement rate or any relevant adjustments thereto, in each case, in a manner that may be adverse to borrowers (including the Borrowers).
Notwithstanding anything to the contrary contained herein, if the Benchmark Replacement for Loans denominated in Dollars, Sterling, Euro or Swiss Franc is Daily Simple SOFR, Daily Compounded S▇▇▇▇, Daily Simple ESTR or Daily Simple SARON, respectively, all interest payments in respect of such Loans will be payable on a monthly basis.
More Definitions of Daily Simple ESTR
Daily Simple ESTR means, for any day (an “ESTR Interest Day”), an interest rate per annum equal to the greater of (a) ESTR for the day that is one Business Day prior to (i) if such ESTR Interest Day is a Business Day, such ESTR Interest Day or(ii) if such ESTR Interest Day is not a Business Day, the Business Day immediately preceding such ESTR Interest Day and (b) 0.00%.
Daily Simple ESTR for any day, ESTR, with the conventions for this rate (which may include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple ESTR” for business loans or conventions that are otherwise used in the United States syndicated lending market for syndicated loans denominated in Euros; provided that, if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion.
Daily Simple ESTR means, for any day (an “ESTR Interest Day”) with respect to any LC Disbursement denominated in Euro, an interest rate per annum equal to the greater of (a) ESTR for the day that is one RFR Business Days prior to
Daily Simple ESTR means, for any day, ESTR, with the conventions for this rate (which may include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for