Definition of Term Federal Funds Rate


Term Federal Funds Rate means, for any Interest Period for each Base Rate Advance that is part of the same Borrowing, the rate per annum at which UBOC is offered federal funds in the term federal funds market as of 10:00 a.m., Los Angeles time, on the first day of such Interest Period, in an amount comparable to the amount of UBOC's Base Rate Advance for such Interest Period and for a term coinciding with such Interest Period.

Examples of Term Federal Funds Rate in a sentence

The Borrower shall pay interest on the unpaid- principal amount of each Advance during each Interest Period for such Advance, payable quarterly on the last day of each calendar quarter and on the last day of such Interest Period at an interest rate equal to5% per annum above the Term Federal Funds Rate with respect to Advances made by Rabobank and at an interest rate equal to5% per annum.
Term Federal Funds Rate" for any Interest Period means an interest rate per annum equal at all times during such Interest Period to the rate of interest per annum at which the Bank, as a branch of a foreign bank, in its sole discretion, can acquire federal funds in the interbank term federal funds market in New York City through brokers of recognized standing on the first day of the Interest Period for a period equal to such Interest Period and in the amount of the Advance.
Inability to Determine Certificate of Deposit Rate, Term Federal Funds Rate or Eurodollar Rate 44 SECTION 3.04.
Default Rate" means a daily fluctuating interest rate which is, with respect to amounts owed to Rabobank, equal to the lesser of (i) 22% per annum above the 30 day Term Federal Funds Rate, or (ii) the maximum Permissible Rate, and, with respect to amounts owed to Barclay's, equal to the lesser of (i) 22% per annum above the 30 day Cost of Funds Rate or (ii) the Maximum Permissible Rate.
Term Federal Funds Rate" means the rate per annum at which the Bank, as a branch of a foreign bank, in its sole discretion, can acquire federal funds in the interbank term federal funds market in New York City through brokers of recognized standing on the first day of the Interest Period for the applicable Fixed Rate Advance for a period equal to such Interest Period for such Fixed Rate Advance and in the amount of such Fixed Rate Advance.