Daily Simple XXXXX definition

Daily Simple XXXXX for any day (a “XXXXX Interest Day”), an interest rate per annum equal to (a) XXXXX for the day that is five XXXXX Business Days (such fifth XXXXX Business Day determined pursuant to each of subclauses (i) and (ii), the “XXXXX Lookback Day”) prior to (i) if such XXXXX Interest Day is a XXXXX Business Day, such XXXXX Interest Day or (ii) if such XXXXX Interest Day is not a XXXXX Business Day, the XXXXX Business Day immediately preceding such XXXXX Interest Day or (b) if XXXXX is not available for the XXXXX Lookback Day determined pursuant to clause (a) above, by 5:00 p.m., London time on any day of determination of Daily Simple XXXXX, then Daily Simple XXXXX for such day will be XXXXX as published in respect of the first preceding XXXXX Business Day prior to the XXXXX Lookback Day for which XXXXX was published on the XXXXX Administrator’s Website; provided that Daily Simple XXXXX determined pursuant to this clause (b) shall be utilized for purposes of calculation of Daily Simple XXXXX for no more than three consecutive XXXXX Interest Days and thereafter subsection 2.11(a) shall govern. Any change in Daily Simple XXXXX due to ​ ​ ​ a change in XXXXX shall be effective from and including the effective date of such change in XXXXX without notice to the Borrower.

Daily Simple XXXXX for any day (a “XXXXX Rate Day”), a rate per annum equal to XXXXX for the day (such day “XXXXX Determination Date”) that is five (5) Business Days prior to (i) if such XXXXX Rate Day is a Business Day, such XXXXX Rate Day or (ii) if such XXXXX Rate Day is not an Business Day, the Business Day immediately preceding such XXXXX Rate Day, in each case, as such XXXXX is published by the XXXXX Administrator on the XXXXX Administrator’s website. Any change in Daily Simple XXXXX due to a change in XXXXX shall be effective from and including the effective date of such change in XXXXX without notice to the Borrower. If by 5:00 p.m. (Toronto time) on any given XXXXX Determination Date, XXXXX in respect of such XXXXX Determination Date has not been published on the XXXXX Administrator’s website and a Benchmark Replacement Date with respect to the Daily Simple XXXXX has not occurred, then XXXXX for such XXXXX Determination Date will be XXXXX as published in respect of the first preceding Business Day for which such XXXXX was published on the XXXXX Administrator’s website, so long as such first preceding Business Day is not more than five (5) Business Days prior to such XXXXX Determination Day.

Daily Simple XXXXX means the rate per annum equal to XXXXX determined for any day pursuant to the definition thereof. Any change in Daily Simple XXXXX shall be effective from and including the date of such change without further notice. If the rate as so determined would be less than zero, such rate shall be determined to be zero for purposes of this Agreement.

Examples of Daily Simple XXXXX in a sentence

• All Multicurrency Canadian Swingline Loans shall be made in Canadian Dollars as Canadian Prime Rate Loans and shall not be entitled to be converted into Term XXXXX Loans or Daily Simple XXXXX Loans.

• The applicable Borrowers shall pay to the Agent, for the ratable benefit of the applicable Lenders, interest on all (x) Term SOFR Loans in arrears on each Term SOFR Interest Payment Date, (y) Term XXXXX Loans in arrears on each Term XXXXX Interest Payment Date, and (z) Daily Simple XXXXX Loans in arrears on the first calendar day of each April, July, October and January and on the Maturity Date.

• All outstanding Loans to the Canadian Borrowers shall bear interest on the unpaid principal amount thereof (including, to the extent permitted by law, on interest thereon not paid when due) from the date made until paid in full in cash at a rate determined by reference to the Canadian Prime Rate, Term XXXXX, Daily Simple XXXXX or, in the case of Loans denominated in Dollars, Term SOFR or the Canadian Base Rate, plus the Applicable Margin, but not to exceed the Maximum Rate.

• Canadian Prime Rate Loans, Term XXXXX Loans and Daily Simple XXXXX Loans shall be denominated in Canadian Dollars.

• If the Borrowers are required to so prepay any Term SOFR Loans, Daily One Month SOFR Loans, Term XXXXX Loans or Daily Simple XXXXX Loans, then concurrently with such prepayment, the Borrowers shall borrow from the affected Lender, in the amount (or the Equivalent Amount in Dollars, as applicable) of such repayment, a Base Rate Loan denominated in Dollars bearing interest based on the Base Rate or a Canadian Prime Rate Loan, as the case may be.

More Definitions of Daily Simple XXXXX

Daily Simple XXXXX means, for any day (a “XXXXX Interest Day”), a rate per annum equal to the greater of (a) XXXXX for the day that is five XXXXX Business Days prior to (A) if such XXXXX Interest Day is a XXXXX Business Day, such XXXXX Interest Day or (B) if such XXXXX Interest Day is not a XXXXX Business Day, the XXXXX Business Day immediately preceding such XXXXX Interest Day and (b) zero.

Daily Simple XXXXX means, for any day (a “XXXXX Interest Day”) a rate per annum equal to, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to Xxxxxxxx, the greater of (i) XXXXX for the day (such day, a “Daily Simple XXXXX Determination Day”) that is five (5) XXXXX Business Days prior to (A) if such XXXXX Interest Day is a XXXXX Business Day, such XXXXX Interest Day or (B) if such XXXXX Interest Day is not a XXXXX Business Day, the XXXXX Business Day immediately preceding such XXXXX Interest Day, in each case, as such XXXXX is published by the XXXXX Administrator on the XXXXX Administrator’s Website; provided that if by 5:00 p.m. (London time) on the second (2nd) XXXXX Business Day immediately following any Daily Simple XXXXX Determination Day, XXXXX in respect of such Daily Simple XXXXX Determination Day has not been published on the XXXXX Administrator’s Website and a Benchmark Replacement Date with respect to Daily Simple XXXXX has not occurred, then XXXXX for such Daily Simple XXXXX Determination Day will be XXXXX as published in respect of the first preceding XXXXX Business Day for which such XXXXX was published on the XXXXX Administrator’s Website; provided further that XXXXX as determined pursuant to this proviso shall be utilized for purposes of calculation of Daily Simple XXXXX for no more than three (3) consecutive XXXXX Interest Days and (ii) the Floor.

Daily Simple XXXXX means, for any day, an interest rate per annum equal to XXXXX for the day that is five Business Days prior to (a) if such day is a Business Day, such day or (b) if such day is not a Business Day, the Business Day immediately preceding such day, in each case plus 3.26 basis points (0.0326%); provided that if such rate as determined above is less than zero, such rate shall be deemed to be zero. If by 5:00 pm (London time) on the second Business Day immediately following any day “i”, the XXXXX in respect of such day “i” has not been published on the XXXXX Administrator’s Website and a Benchmark Replacement Date (as defined in Section 2.20(j) with respect to the Daily Simple XXXXX has not occurred, then the XXXXX for such day “i” will be the XXXXX as published in respect of the first preceding Business Day for which such XXXXX was published on the XXXXX Administrator’s Website; provided that any XXXXX determined pursuant to this sentence shall be utilized for purposes of calculation of Daily Simple XXXXX for no more than three consecutive Business Days. Any change in Daily Simple XXXXX due to a change in XXXXX shall be effective from and including the effective date of such change in XXXXX without notice to the Borrower.

Daily Simple XXXXX means, for any day, XXXXX for the day that is the fifth Business Day in London England prior to (A) if the relevant date of such setting is a Business Day in London England, such date of setting or (B) if the relevant date of such setting is not a Business Day in London England, the Business Day in London England immediately preceding such date of setting; provided that, if the Facility Agent decides that any such convention is not administratively feasible for the Facility Agent, then the Facility Agent may establish another convention with the consent of the Borrower (not to be unreasonably withheld).

Daily Simple XXXXX means, for each day during any Calculation Period, XXXXX, with the conventions for this rate (which may include a lookback) being established by the Administrative Agent in consultation with the Company in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining "Daily Simple XXXXX" for business loans, as determined for such day at approximately 11:00 a.m., London time, on the immediately preceding Business Day. If such rate is not available at such time for any reason, then Daily Simple XXXXX for such day shall be the rate (which shall not be less than zero) at which GBP deposits in an amount corresponding to the amount of such Advance are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market. Notwithstanding anything in the foregoing to the contrary, if Daily Simple XXXXX as calculated for any purpose under this Agreement is below zero percent, Daily Simple XXXXX will be deemed to be zero percent for such purpose until such time as it exceeds zero percent again.

Daily Simple XXXXX means, for any day, XXXXX, with the conventions for this rate (which will 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 XXXXX” for business loans; 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 XXXXX means, for any day (a “XXXXX Interest Day”), an interest rate per annum equal to the greater of (a) XXXXX for the day that is 5 Business Days prior to (A) if such XXXXX Interest Day is a Business Day, such XXXXX Interest Day or (B) if such XXXXX Interest Day is not a Business Day, the Business Day immediately preceding such XXXXX Interest Day and (b) 0%; provided that if the Daily Simple XXXXX as so determined is less than 0.00%, such rate will be deemed to be 0.00%. Any change in Daily Simple XXXXX due to a change in XXXXX shall be effective from and including the effective date of such change in XXXXX without notice to the Borrower. If by 5:00 pm on the second Business Day immediately following any day XXXXX in respect of such day has not been published on the XXXXX Administrator’s Website and a Benchmark Replacement Date with respect to Daily Simple XXXXX has not occurred, then XXXXX for such day will be XXXXX as published in respect of the first preceding Business Day for which XXXXX was published on the XXXXX Administrator’s Website; provided that XXXXX determined pursuant to this sentence shall be utilized for purposes of calculation of Daily Simple XXXXX for no more than three (3) consecutive XXXXX Interest Days.