Sterling Reference Rate definition

Sterling Reference Rate means, for any Interest Period, (i) BBA LIBOR, as published by Reuters (or such other commercially available source providing quotations of BBA LIBOR as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, (x) in the case of a Borrowing of Revolving Loans, two London Banking Days prior to the commencement of such Interest Period or (y) in the case of a Borrowing of Swingline Loans, on the date of such Borrowing, for Sterling deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period or (ii) if such published rate is not available at such time for any reason, then the “Sterling Reference Rate” for such Interest Period shall be the rate per annum determined by the Administrative Agent to be the rate at which deposits in Sterling for delivery on the first day of such Interest Period in same day funds in the approximate amount of the Borrowing being made, continued or converted by Bank of America and with a term equivalent to such Interest Period would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time) (x) in the case of a Borrowing of Revolving Loans, two London Banking Days prior to the commencement of such Interest Period or (y) in the case of a Borrowing of Swingline Loans, on the date of such Borrowing.
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Sterling Reference Rate means, for any day, the rate per annum determined by the Administrative Agent for overnight deposits in Sterling at approximately 11:00 a.m., London time, on such day by reference to the Reuters “LIBOR01” screen displaying British Bankers’ Assoc. Interest Settlement Rates; provided, however, that if the applicable screen shall no longer exist, “Sterling Reference Rate” shall mean an interest rate per annum (rounded upwards, if necessary, to the next 1/100th of 1%) equal to the rate at which overnight deposits in Sterling approximately equal in principal amount to the Administrative Agent’s portion of such Borrowing are offered to the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, on such day.
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Sterling Reference Rate means an interest rate per annum (rounded upwards, if necessary, to the next 1/100th of 1%) equal to the rate at which overnight deposits in Sterling approximately equal in principal amount to the Administrative Agent’s portion of such Borrowing are offered to the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, on such day.
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Examples of Sterling Reference Rate in a sentence

  • Loans bearing interest calculated by reference to the Domestic Base Rate, the Canadian Prime Rate, the Canadian Base Rate, the Sterling Reference Rate, the Reference U.K. Dollar Base Rate or the Euro Reference Rate, and, with respect to U.K. Swing Line Loans only, the RBS-U.K. Sterling Reference Rate, the RBS-U.K. Euro Reference Rate or the U.K. Dollar Base Rate.

  • Any of the Sterling Reference Rate, the Reference U.K. Dollar Base Rate and/or the Euro Reference Rate.

  • The Final Cash Settlement Price for Indian Rupee Futures Contracts shall be the Pound Sterling Reference Rate issued by the Reserve Bank of India, based on bank rates in Mumbai at 12 noon on the Last Day of Trading of the relevant Class of Indian Rupee Futures Contracts, expressed in Indian Rupees per Sterling Pound rounded off to the nearest tick value.

  • U.K. Loans bearing interest calculated by reference to the Sterling Reference Rate (with respect to U.K. Base Rate Loans denominated in Sterling) or the Euro Reference Rate (with respect to U.K. Base Rate Loans denominated in Euros) or the Reference U.K. Dollar Base Rate (with respect to the U.K. Base Rate Loans denominated in U.S. Dollars) and, with respect to U.K. Swing Line Loans only, the RBS-U.K. Sterling Reference Rate, the RBS-U.K. Euro Reference Rate or the U.K. Dollar Base Rate.


More Definitions of Sterling Reference Rate

Sterling Reference Rate means, for any day, the rate per annum determined by the Administrative Agent for overnight deposits in Sterling at approximately 11:00 a.m., Local Time, on such day by reference to the British Bankers’ Assoc. Interest Settlement Rates (as reflected on the applicable Reuters screen); provided, however, that if such rate is not ascertainable pursuant to the foregoing provisions of this definition, “Sterling Reference Rate” shall mean the average (rounded upwards, if necessary, to the next 1/100th of 1%) of the rates quoted at approximately 10:00 a.m., Local Time, on such day (or, in the case of a day that is not a Business Day, the immediately preceding Business Day), to leading banks in the London interbank market by the Reference Banks for the offering of overnight deposits in Sterling.
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Sterling Reference Rate. The annual rate of interest equal to the sum of (a) the arithmetic mean of the cost of funds offered to the U.K. Agent and the U.K. Reference Banks in the London interbank market for overnight deposits denominated in Sterling plus (b) one percent (1%).
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Related to Sterling Reference Rate

  • Original Reference Rate means the originally-specified benchmark or screen rate (as applicable) used to determine the Rate of Interest (or any component part thereof) on the Notes.

  • Reference Rate means the rate specified as such hereon.

  • Replacement Reference Rate means a reference rate which is:

  • Term SOFR Reference Rate means the forward-looking term rate based on SOFR.

  • Reset Reference Rate means in respect of a Reset Period, the gross redemption yield (as calculated by the Agent Bank on the basis set out by the United Kingdom Debt Management Office in the paper “Formulae for Calculating Gilt Prices from Yields”, page 5, Section One: Price/Yield Formulae “Conventional Gilts”; Double dated and Undated Gilts with Assumed (or Actual) Redemption on a Quasi-Coupon Date (published 8 June 1998, as amended or updated from time to time) or if such basis is no longer in customary market usage at such time, in accordance with generally accepted market practice at such time, on a semi-annual compounding basis (rounded up (if necessary) to four decimal places) of the Benchmark Gilt in respect of that Reset Period, with the price of the Benchmark Gilt for the purpose of determining the gross redemption yield being the arithmetic average (rounded up (if necessary) to the nearest 0.001 per cent. (0.0005 per cent. being rounded upwards)) of the bid and offered prices of such Benchmark Gilt quoted by the Reset Reference Banks at 11.00 a.m. (London time) on the Reset Determination Date in respect of such Reset Period on a dealing basis for settlement on the next following dealing day in London. Such quotations shall be obtained by or on behalf of the Issuer and provided to the Agent Bank. If at least four quotations are provided, the Reset Reference Rate will be determined by reference to the rounded arithmetic mean of the quotations provided, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If only two or three quotations are provided, the Reset Reference Rate will be determined by reference to the rounded arithmetic mean of the quotations provided. If only one quotation is provided, the Reset Reference Rate will be determined by reference to the rounded quotation provided. If no quotations are provided, the Reset Reference Rate will be the previous Reset Reference Rate or (in the case of the first Reset Period) 1.581 per cent., where:

  • Applicable Reference Rate means, for any Eurocurrency Rate Loan denominated in any LIBOR Quoted Currency or any LIBOR Floating Rate Loan, LIBOR, for any Eurocurrency Rate Loan denominated in Australian Dollars, BBSY, for any Eurocurrency Rate Loan denominated in Canadian Dollars, the CDOR Rate and for any Eurocurrency Rate Loan denominated in Mexican Pesos, TIIE, as applicable.

  • Base Rate means, for any day, the rate per annum equal to the higher of (a) the Federal Funds Rate for such day plus one-half of one percent (0.5%) and (b) the Prime Rate for such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Rate.

  • Successor Reference Rate means the rate that the relevant Independent Adviser or the Issuer (as applicable) determines is a successor to or replacement of the Reference Rate which is formally recommended by any Relevant Nominating Body.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • Alternative Reference Rate means the rate that the Independent Adviser or the Issuer (as applicable) determines has replaced the relevant Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest in respect of bonds denominated in the Specified Currency and of a comparable duration to the relevant Interest Period, or, if the Independent Adviser or the Issuer (as applicable) determines that there is no such rate, such other rate as the Independent Adviser or the Issuer (as applicable) determines in its discretion (acting in good faith) is most comparable to the relevant Reference Rate;

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • EURIBOR Rate has the meaning specified in the definition of “Eurocurrency Rate”.

  • Reference Rate Determination Date means, in relation to any Reference Rate Business Day(i):

  • Floating Rate Margin means 7.50 per cent. per annum.

  • Daily Adjusting LIBOR Rate means, for any day, a per annum interest rate which is equal to the quotient of the following:

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • Prime Rate Margin is set forth on Schedule I hereto.

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by Xxxxx Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • U.S. Base Rate means, for any day, the greater of:

  • Daily LIBOR Rate means, for any day, the rate per annum determined by the Bank by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the LIBOR Reserve Percentage.

  • Applicable Margins means collectively the Applicable Revolver Index Margin, the Applicable Term Loan Index Margin, the Applicable Revolver LIBOR Margin and the Applicable Term Loan LIBOR Margin.

  • Adjusted One Month LIBOR Rate means, an interest rate per annum equal to the sum of (i) 1.00% per annum plus (ii) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the Screen Rate at approximately 11:00 a.m. London time on such day.