SARON definition

SARON means a rate equal to the Swiss Average Rate Overnight as administered by the SARON Administrator.

SARON means, in respect of any Zurich Banking Day, the Swiss Average Rate Overnight for such Zurich Banking Day published by the SARON Administrator on the SARON Screen Page (as defined below) at the SARON Relevant Time on such Zurich Banking Day;

SARON means, with respect to any applicable determination date, the Swiss Average Rate Overnight published on the fifth Business Day preceding such date on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time); provided however that if such determination date is not a Business Day, SARON means such rate that applied on the first Business Day immediately prior thereto.

Examples of SARON in a sentence

• Notwithstanding anything else herein, if at any time the SARON Successor Rate as so determined would otherwise be less than zero, the SARON Successor Rate will be deemed to be zero for purposes of this Agreement and the other Loan Documents.

• The Borrower shall deliver to the Administrative Agent a Notice of Loan Prepayment of any prepayment hereunder (i) in the case of prepayment of a SARON Borrowing, not later than 12:00 noon, Central European time (summer or standard, as applicable), three (3) Business Days before the date of prepayment or (ii) in the case of prepayment of an ABR Borrowing made or converted pursuant to Section 2.14, not later than 12:00 noon one (1) Business Day before the date of prepayment.

• The Administrative Agent and its affiliates or other related entities may engage in transactions or other activities that affect any reference rate referred to herein, or any alternative, successor or replacement rate (including, without limitation, any SARON Successor Rate) (or any component of any of the foregoing) or any related spread or other adjustments thereto, in each case, in a manner adverse to the Borrower.

• Any SARON Successor Rate shall be applied in a manner consistent with market practice; provided that to the extent such market practice is not administratively feasible for the Administrative Agent, such SARON Successor Rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent.

• The Administrative Agent will promptly (in one or more notices) notify the Company and each Lender of the implementation of any SARON Successor Rate.

More Definitions of SARON

SARON means, in respect of any Business Day, a reference rate equal to the daily Swiss Average Rate Overnight for such Business Day as provided by the SARON Administrator and as then published on the SIX Group's Website at the SARON Specified Time on such Business Day;

SARON means, in respect of any Zurich Banking Day,

SARON means the Swiss Average Rate Overnight as published by the Benchmark Administrator or its agent.

SARON means, in respect of any Zurich Banking Day, the Swiss Average Rate Overnight for such Zurich Banking Day published by the SARON Administrator on the SIX Group’s Website at the Specified Time on such Zurich Banking Day; or

SARON means, with respect to any applicable determination date, (i) the Swiss Average Rate Overnight published on the fifth Business Day preceding such date on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time); provided however that if such determination date is not a Business Day, SARON means such rate that applied on the first Business Day immediately prior thereto minus (ii) 0.0571% per annum.

SARON means, with respect to any Business Day, a rate per annum equal to the Swiss Average Rate Overnight published by the SARON Administrator on the SARON Administrator's Website.

SARON means the Benchmark - Swiss Average Rate Overnight, the Administrator of which is SIX Swiss Exchange or another entity which assumes this role in the future;