Substitute Rate definition
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.
Substitute Rate means the rate of salary for a substitute in the teacher's salary classification.
Examples of Substitute Rate in a sentence
Upon receipt of such notice, Prologis may revoke any pending request for a Euro Committed Borrowing or continuation in the affected currency, or, failing that, will be deemed to have converted such request into a request for a Euro Committed Borrowing of Substitute Rate Loans denominated in Euro, and any Euro Committed Loans that are not denominated in Euro and are affected by this provision shall be converted to Euro in the Euro Equivalent amount of such Euro Loans at such time.
More Definitions of Substitute Rate
Substitute Rate shall be computed at step 1 on the salary schedule.
Substitute Rate shall have the meaning assigned to such term in Section 4.2.
Substitute Rate shall have the meaning assigned to such term in Section 2.11.
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 means, with respect to a Euro Committed Loan denominated in Euro, (a) the Applicable Margin plus (b) (i) to the extent requested by Euro Funding Agent or Prologis, a negotiated rate agreed to by Prologis, Euro Funding Agent and each Euro Lender or (ii) to the extent that a negotiated rate is not requested or agreed to by the applicable parties, the rate per annum determined by Euro Funding Agent to be the highest (rounded upwards, if necessary, to four decimal places) of the rates notified by the Reference Banks to Euro Funding Agent before the last day of the applicable Interest Period to be those which express as a percentage rate per annum the cost to each such Reference Bank of funding its Loans from whatever sources it may reasonably select during such Interest Period.
Substitute Rate shall have the meaning set forth in Section 3.5(c).
Substitute Rate means, with respect to each Interest Period that occurs while the Loan is a Substitute Rate Loan, a per annum interest rate equal to the Substitute Base Rate applicable to the Interest Period plus the Substitute Rate Spread; provided, however, in no event shall the Substitute Rate be less than the Index Floor plus the Applicable Spread.