Substitute Rate definition

Substitute Rate shall have the meaning set forth in Section 2.2.3(b).
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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.
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Substitute Rate means the rate of salary for a substitute in the teacher's salary classification.
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Examples of Substitute Rate in a sentence

  • Notwithstanding any provision of this Agreement to the contrary, in no event shall Borrower have the right to elect to convert a LIBOR Loan to a Substitute Rate Loan.

  • If a Substitute Rate is agreed upon by the Borrower and all the Lenders, such Substitute Rate shall apply.

  • If a Substitute Rate is agreed upon by the Borrower and any affected Lenders, such Substitute Rate shall apply with respect to such affected Lenders.

  • Substitute Rate of Pay: Substitutes in ECFE, School Readiness, Parent Educators, other early childhood, and ABE programs will be paid hourly according to Schedule D.

  • 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.
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Substitute Rate shall have the meaning assigned to such term in Section 3.04.
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Substitute Rate shall have the meaning assigned to such term in Section 2.11.
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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.
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Substitute Rate shall have the meaning set forth in Section 3.5(c).
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Substitute Rate means any published index now or hereafter generally adopted by Buyer as a replacement for LIBOR for variable rate loans or repurchase facilities, as determined by Buyer in its sole discretion and applied by Buyer to other similarly situated sellers under similar repurchase facilities with Buyer, provided that in no event shall such Substitute Rate ever be less than zero percent.
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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 Spread.
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