Primary Term Rate means the rate specified as such in the applicable Reference Rate Terms.
Primary Term Rate. If no Primary Term Rate is available for the Interest Period of a Loan, the applicable Term Reference Rate shall be the Interpolated Primary Term Rate for a period equal in length to the Interest Period of that Loan.
Primary Term Rate. The Term SOFR reference rate administered by CME Group Benchmark Administration Limited (or any other person which takes over the administration of that rate) for the relevant period published (before any correction, recalculation or republication by the administrator) by CME Group Benchmark Administration Limited (or any other person which takes over the publication of that rate).
Examples of Primary Term Rate in a sentence
If Clause 11.1.1 above applies but it is not possible to calculate the Interpolated Primary Term Rate, the Interest Period of that Loan shall (if it is longer than the applicable Fallback Interest Period) be shortened to the applicable Fallback Interest Period and the applicable Reference Rate shall be determined pursuant to the definition of Reference Rate.
If Clause 11.1.2 above applies but no Primary Term Rate is available for the Interest Period of that Loan and it is not possible to calculate the Interpolated Primary Term Rate, the applicable Reference Rate shall be the Historic Primary Term Rate for that Loan.
If Clause 11.1.3 above applies but no Historic Primary Term Rate is available for the Interest Period of that Loan, the applicable Reference Rate shall be the Interpolated Historic Primary Term Rate for a period equal in length to the Interest Period of that Loan.
More Definitions of Primary Term Rate
Primary Term Rate. If no Primary Term Rate is available for the Interest Period of a Term Rate Loan, the applicable Term Reference Rate shall be the Interpolated Primary Term Rate for a period equal in length to the Interest Period of that Loan. (b) Compounded Reference Rate or cost of funds: If paragraph (a) above applies but it is not possible to calculate the Interpolated Primary Term Rate then: (i) if "Compounded Reference Rate will apply as a fallback" is specified in the Reference Rate Terms for that Loan and there are Reference Rate Terms applicable to Compounded Rate Loans in the relevant currency: (A) there shall be no Term Reference Rate for that Loan for that Interest Period and Clause 9.6 (Calculation of interest – Term Rate Loans) will not apply to that Loan for that Interest Period; and (B) that Loan shall be a "Compounded Rate Loan" for that Interest Period and Clause 9.7 (Calculation of interest – Compounded Rate Loans) shall apply to that Loan for that Interest Period; and (ii) if: (A) "Compounded Reference Rate will not apply as a fallback" and (B) "Cost of funds will apply as a fallback", are specified in the Reference Rate Terms for that Loan, Clause 11.4 (Cost of funds) shall apply to that Loan for that Interest Period. 11.2 Interest calculation if no RFR or Central Bank Rate If: (a) there is no applicable RFR or Central Bank Rate for the purposes of calculating the Daily Non-Cumulative Compounded RFR Rate for an RFR Banking Day for a Compounded Rate Loan during the Interest Period for a Compounded Rate Loan; and (b) "Cost of funds will apply as a fallback" is specified in the Reference Rate Terms for that Loan, Clause 11.4 (Cost of funds) shall apply to that Loan for that Interest Period. 11.3
Primary Term Rate means the rate specified as such in the applicable Reference Rate Terms. "Qualifying Lender" has the meaning given to it in Clause 13 (Tax Gross up and Indemnities). "Quotation Day" means the day specified as such in the applicable Reference Rate Terms. "Quotation Time" means the relevant time (if any) specified as such in the applicable Reference Rate Terms. "Quoted Tenor" means, in relation to a Primary Term Rate, any period for which that rate is customarily displayed on the relevant page or screen of an information service. "Ratio Compliance Certificate" means a certificate substantially in the form set out in Schedule 7 (Form of Ratio Compliance Certificate). "Realised Score" means, in relation to each Sustainability KPI, the score (if applicable expressed as a percentage) obtained for the relevant financial year and set out in the Sustainability KPI Certificate. "Reference Bank Rate" means the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Agent at its request by the Reference Banks, any such individual rate
Primary Term Rate means the rate specified as such in the applicable Reference Rate Terms. “Prohibited Party” means a person located in, organised under the laws of, or owned or controlled by, or acting on behalf of, a person located in or organised under the laws of a territory subject to comprehensive Sanctions (currently Crimea, Iran (to the extent prohibited by Sanctions), Russia, Sudan (excluding South Sudan), Syria, or North Korea). “Qualified Securitisation Facility” means any Securitisation Facility: (a) constituting a securitisation financing facility that meets the following conditions: (i) the Company will have determined in good faith that such Securitisation Facility (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the Company and the applicable Subsidiary or Securitisation Subsidiary, and (ii) all sales or contributions of Securitisation Assets and related assets to the applicable person or Securitisation Subsidiary are made at fair market value (as determined in good faith by the Company); or (b) constituting a receivables financing facility. “Qualifying Lender” has the meaning given to it in Clause 15 (Tax Gross-Up and Indemnities). “Quarter Date” has the meaning given to such term in Clause 22.1 (Financial Definitions). “Quotation Day” means the day specified as such in the applicable Reference Rate Terms. “Quoted Tenor” means, in relation to a Screen Rate or a RFR, any period for which that Screen Rate is customarily displayed on the relevant page or screen of an information service. “Reference Rate Supplement” means, in relation to any currency, a document which: (a) is agreed in writing by the Company, the Agent (in its own capacity) and the Agent (acting on the instructions of the Majority Lenders (acting reasonably)); (b) specifies for that currency the relevant terms which are expressed in this Agreement to be determined by reference to Reference Rate Terms; (c) specifies whether that currency is a Compounded Rate Currency or a Term Rate Currency; and (d) has been made available to the Company and each Finance Party. “Reference Rate Terms” means, in relation to: (a) a currency;
Primary Term Rate means for a currency and the applicable category of Loan, the rate specified as such in Schedule 13 (Term Rate Terms).
Primary Term Rate. In relation to CIBOR, the Copenhagen interbank offered rate administered by the Danish Bankers' Association (or any other person which takes over the administration of that rate) for the relevant period displayed (before any correction, recalculation or republication by the administrator) on the Refinitiv screen. If such service ceases to be available, the Facility Agent may specify another service, displaying the relevant rate after consultation with the Company and the relevant Revolving Facility C Lenders, the Revolving Facility G Lender, the relevant Swingline Facility C Lenders,and the Swingline Facility G Lender. Rate fixing timings 1 week.
Primary Term Rate. In relation to NIBOR, the Norwegian interbank offered rate administered by Finansielle Referanser AS (NoRe) (or any other person which takes over the administration of that rate) for the relevant period displayed (before any correction, recalculation or republication by the administrator) on the Refinitiv screen; If such service ceases to be available, the Facility Agent may specify another service, displaying the relevant rate after consultation with the Company, the relevant Revolving Facility C Lenders, the Revolving Facility G Lender, the Swingline Facility C Lenders and the Swingline Facility G Lender. Rate fixing timings 1 week.
Primary Term Rate. The euro interbank offered rate administered by the European Money Markets Institute (or any other person which takes over the administration of that rate) for the relevant period displayed (before any correction, recalculation or republication by the 230