Term Federal Funds Rate definition

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.

Term Federal Funds Rate means, for any Interest Period with respect to any Term Federal Funds Loan, the rate per annum which is equal to the arithmetic average (as determined by the Administrative Agent (subject to Section 10.08 hereof) on the basis of quotations, if any, received by the Administrative Agent from the Reference Banks, with such average expressed as a percentage and rounded, if necessary, to the nearest 1/10,000 of one percent) of the rates per annum at which each Reference Bank is offered term Federal funds in the term Federal funds market as of 10:00 a.m., New York City time, on the first Business Day of such Interest Period, for settlement on such day and for the number of days comprised therein in an amount comparable to the amount of the Term Federal Funds Loan of such Reference Bank to be outstanding for such Interest Period.

Term Federal Funds Rate means, with respect to any Loan, the ----------------------- rate per annum determined by the Bank to be the rate at which U.S. dollar deposits in immediately available funds are offered to the Bank by prime banks in the domestic interbank market at or about 10:00 a.m. (New York City time) on the day of, and for delivery on, the first day of the Interest Period applicable to such Loan, for the number of days comprised therein and in an amount equal to the amount of such Loan. The Bank's determination of the Term Federal Funds Rate applicable to any of its Loans shall be conclusive, absent manifest error.

Examples of Term Federal Funds Rate in a sentence

• The Company shall pay interest on ------------------- the unpaid principal amount of each Loan from the date of such Loan to the date on which such Loan is paid in full at a rate equal to the sum of Term Federal Funds Rate for such Loan plus 0.35% per annum.

• If any Reference Bank does not furnish a timely quotation, the Administrative Agent shall determine the relevant Eurodollar Rate, Term Federal Funds Rate or Certificate of Deposit Rate, as the case may be, on the basis of the quotations, if any, furnished by the remaining Reference Banks and, in the event that all Reference Banks fail to so furnish a quotation, on the basis of such other information as the Administrative Agent in its sole discretion shall deem appropriate.

• Inability to Determine Certificate of Deposit Rate, Term Federal Funds Rate or Eurodollar Rate......................................

• The relevant Bank shall give the Company telephonic notice, confirmed by facsimile or other written notice, of the Term Federal Funds Rate applicable to the relevant Loan before 12:00 noon (New York City time) on the relevant borrowing date, which determination shall be conclusive, absent manifest error.

• 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 to 1.5% per annum above the Term Federal Funds Rate with respect to Advances made by Rabobank and at an interest rate equal to 1.5% per annum.

More Definitions of Term Federal Funds Rate

Term Federal Funds Rate applicable to any Federal Funds Interest Period means a rate per annum as determined by the Bank (rounded upwards, if necessary, to the nearest 1/100 of 1%) at which term Federal funds would be offered to the Bank at 10:00 A.M. (Richmond, Virginia time) on the first day of such Federal Funds Interest Period in the interbank market for a period equal to such Federal Funds Interest Period and in an amount equal to the principal amount of the Federal Funds Loans scheduled to be outstanding during such Federal Funds Interest Period.

Term Federal Funds Rate for any Interest Period for any Advance means an interest rate per annum equal at all times during such Interest Period to the rate of interest at which Rabobank, 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 at the time the Borrower specifies the Interest Period for such Advance on the date of such Advance for a period equal to such Interest Period for such Advance and in the amount of such Advance.

Term Federal Funds Rate has the meaning set forth in Section 2.4(c).

Term Federal Funds Rate means, for any Interest Period with respect to any Term Federal Funds Loan, the rate per annum which is equal to the arithmetic average (as determined by the Administrative Agent (subject to Section 10.08 hereof) on the basis of quotations, if any, received by the Administrative Agent from the Reference Banks, with such average expressed as a percentage and rounded, if necessary, to the nearest 1/10,000 of one percent) of the rates per annum at which each Reference Bank is offered term Federal funds in the term Federal funds market as of 10:00 a.m., New York City time, on the first Business

Term Federal Funds Rate means, for any day, the rate per annum calculated by the Federal Reserve Bank of New York based on such day’s federal funds transactions by depository institutions (as determined in such manner as the Federal Reserve Bank of New York shall set forth on its public website from time to time) and published on the next succeeding Business Day by the Federal Reserve Bank of New York as the federal funds effective rate; provided that if the Federal Funds Rate as so determined would be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

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. For purposes of calculating the Default Rate, the applicable Interest Period shall be one day and the applicable Fixed Rate Advance 152 shall be equal to the amounts which are to accrue interest at the Default Rate.

Term Federal Funds Rate means, for any Interest Period for FFR Loans, the average of the rates per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) determined by the Agent to be the average of the bid rates quoted to the Agent at approximately 10:00 a.m. (or as soon thereafter as practicable) on the first day of such Interest Period by at least two federal funds dealers of recognized national standing selected by the Agent for the sale to the Agent of federal funds having a term comparable to such Interest Period and in an amount comparable to the principal amount of the FFR Loans of the Agent (in the capacity as Lender) to which such Interest Period relates.