SARON definition

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

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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

• The benchmark interest rate is the interest rate of ☐ US dollar overnight SOFR ☐ British Pound overnight ▇▇▇▇▇ ☐ Japanese Yen overnight ▇▇▇▇ ☐ Euro overnight ESTR ☐ Swiss Franc overnight SARON ☐ / T-5 business days as shown on the Bloomberg Financial Telecommunications terminal page.

• All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurocurrency Rate or Term SOFR (other than Foreign Currency Loans with respect to SARON)) shall be made on the basis of a year of three hundred sixty-five (365) days, or three hundred sixty-six (366) days, as applicable, and actual days elapsed.

• All computations of interest for Alternative Currency Loans (other than Alternative Currency Loans with respect to SARON) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed, or, in the case of interest in respect of Alternative Currency Loans as to which market practice differs from the foregoing, in accordance with such market practice.

• All other computations of fees and interest with respect to Alternative Currency Loans determined by reference to SARON shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year).

• SARON: with respect to any applicable determination date, the Swiss Average Rate Overnight published on such date on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the 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.

More Definitions of SARON

SARON means, in respect of any Zurich Banking Day,

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

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

SARON means, with respect to any applicable determination date, the Swiss Average Rate Overnight published on the second 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.

SARON with respect to any applicable determination date means the Swiss Average Rate Overnight as published on such date on the applicable Reuters screen page (or if not available, such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time); provided that if such day is not a Business Day, then SARON means such rate published on the Business Day immediately prior thereto; provided that SARON as determined in accordance with the immediately foregoing proviso shall apply to any outstanding Loan based on SARON for no more than four consecutive days.

SARON means, with respect to any RFR Business Day, a rate per annum equal to the Swiss Average Rate Overnight for such RFR Business Day published by the SIX Swiss Exchange AG (or any successor administrator for the Swiss Average Rate Overnight) on the SIX Swiss Exchange AG’s website, currently at ▇▇▇▇://▇▇▇.▇▇▇-▇▇▇▇▇.▇▇▇ (or any successor source for the Swiss Average Rate Overnight identified as such by the administrator for the Swiss Average Rate Overnight from time to time).