Substitute Rate shall have the meaning set forth in Section 2.2.3(b).
Substitute Rate means a floating rate of interest equal to (a) the Federal Funds Effective Rate from time to time plus one and one-half of one percent (1.50%) plus (b) the Applicable Margin for Adjusted Base Rate Loans.
Examples of Substitute Rate in a sentence
Rate of compensation will be in accordance with the current Substitute Rate Schedule.
More Definitions of Substitute Rate
Substitute Rate shall have the meaning assigned to such term in Section 3.04.
Substitute Rate shall be computed at step 1 on the salary schedule.
Substitute Rate means any published index now or hereafter generally adopted by Purchaser as a replacement for LIBOR for variable rate loans or repurchased facilities, as determined by Purchaser in its sole discretion and applied to other similarly situated sellers under similar repurchase facilities with Purchaser; provided that in no event shall such Substitute Rate at any time be less than 0.00%.
Substitute Rate means a rate which has been developed in place of the rate that was disapproved by the FERC.[50 FR 37837, Sept. 18, 1985; 50 FR 48075, Nov.21, 1985] § 903.11 Advance announcement of rate adjustment.The Administrator may announce that the development of rates for a new service or revised rates for an existing service is under consideration. The an- nouncement shall contain pertinent in- formation relevant to the rate adjust- ment. The announcement may be through direct contact with customers, at public meetings, by press release, by newspaper advertisement, and/or by FEDERAL REGISTER publication. Writ- ten comments relevant to rate policy and design and to the rate adjustment process may be submitted by interested parties in response to the announce- ment. Any comments received shall be considered in the development of Pro- posed Rates.§ 903.13 Notice of proposed rates.(a) The Administrator shall give No- tice that Proposed Rates have been prepared and are under consideration. The Notice shall include:
Substitute Rate means an alternative benchmark or screen rate which the Reference Rate Determination Agent determines in accordance with Condition 6 (e) has replaced the original Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest (or the relevant component part thereof) for a commensurate interest period and in the same Specified Currency as the Notes.
Substitute Rate shall have the meaning set forth in Section 3.5(c).
Substitute Rate shall have the meaning provided in Section 2.10(d).