Adjusted Reference Rate definition

Adjusted Reference Rate means, for any day, the fluctuating rate per annum of interest equal to the greater of (a) the Reference Rate in effect on such day and (b) the Federal Funds Rate in effect on such day plus 1/2 of 1%.

Adjusted Reference Rate means, for any day, the fluctuating rate per annum of interest equal to the greatest of (a) the Reference Rate in effect on such day, (b) the Federal Funds Rate in effect on such day plus ½ of 1% and (c) the Eurodollar Rate for a one-month period plus 1.00%; provided, that in no event shall the Adjusted Reference Rate be less than 0.00%. Any change in the Adjusted Reference Rate due to a change in the Reference Rate, Eurodollar Rate or Federal Funds Rate shall be effective on the effective date of such change in the Reference Rate, Eurodollar Rate or Federal Funds Rate.

Adjusted Reference Rate means the fluctuating interest rate per annum ----------------------- equal to the higher of (a) the sum of the Federal Funds Rate plus 1/2% and (b) ---- the rate of interest (the "Reference Rate") publicly announced from time to time -------------- by Bank of America at its executive offices, as its reference rate or prime rate. The Reference Rate is a rate set by Bank of America based upon various factors, including Bank of America's cost and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above or below the Reference Rate. Any change in the Reference Rate shall take effect at the opening of business on the day specified in the public announcement of such change.

Examples of Adjusted Reference Rate in a sentence

• If such Advance is a Reference Rate Advance, a rate per annum equal at all times to the Adjusted Reference Rate in effect from time to time plus the Applicable Margin in effect from time to time, payable quarterly in arrears on the last day of each March, June, September, and December and on the date such Reference Rate Advance shall be paid in full.

• Each Reference Rate Advance shall bear interest at the Adjusted Reference Rate in effect from time to time plus the Applicable Margin for Reference Rate Advances in effect from time to time.

• If such Advance is a Reference Rate Advance, a rate per annum equal at all times to the Adjusted Reference Rate in effect from time to time plus the Applicable Margin in effect from time to time, payable quarterly in arrears on the last day of each March, June, September, and December commencing on June 30, 2010 and on the date such Reference Rate Advance shall be paid in full.

• If such Advance is a Reference Rate Advance, a rate per annum equal at all times to the Adjusted Reference Rate in effect from time to time plus the Applicable Margin in effect from time to time, payable quarterly in arrears on the last day of each calendar quarter and on the date such Reference Rate Advance shall be paid in full.

• If such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during the Interest Period for such Advance to the Eurodollar Rate for such Interest Period plus 2.00%; provided that, if a Default or Event of Default shall have occurred and be continuing, such interest shall accrue at a rate per annum equal at all times to the Adjusted Reference Rate plus 4% per annum.

More Definitions of Adjusted Reference Rate

Adjusted Reference Rate means, for any day, the fluctuating rate per annum of interest equal to the greatest of (a) the Reference Rate in effect on such day, (b) the Federal Funds Rate in effect on such day plus ½ of 1% and (c) the Eurodollar Rate plus 1.00%; provided, that in no event shall the Adjusted Reference Rate be less than 0.00%. Any change in the Adjusted Reference Rate due to a change in the Reference Rate, Eurodollar Rate or Federal Funds Rate shall be effective on the effective date of such change in the Reference Rate, Eurodollar Rate or Federal Funds Rate.

Adjusted Reference Rate means, for any day, the fluctuating rate per annum of interest equal to the greater of (a) the Reference Rate in effect on such day and (b) the Federal Funds Rate in effect on such day plus 1/2%.

Adjusted Reference Rate means, for any day, the fluctuating rate per annum of interest equal to the greatest of (a) the Reference Rate in effect on such day, (b) the Federal Funds Rate in effect on such day plus 1⁄2 of 1% and (c) Adjusted Term SOFR for aone-month tenor in effect on such day plus 1.00%; provided, that in no event shall the Adjusted Reference Rate be less than 0.00%. Any change in the Adjusted Reference Rate due to a change in the Reference Rate, Adjusted Term SOFR or Federal Funds Rate shall be effective on the effective date of such change in the Reference Rate, Adjusted Term SOFR or Federal Funds Rate; provided that clause (c) shall not be applicable during any period in which Adjusted Term SOFR is unavailable or unascertainable.

Adjusted Reference Rate means the fluctuating interest rate per ----------------------- annum equal to the higher of (a) the sum of the Federal Funds Rate plus 1/2% and ---- (b) the rate of interest (the "Reference Rate") publicly announced from time to -------------- time by Citibank, N.A. in New York, New York, as its reference or prime lending rate. Any change in the Reference Rate shall take effect at the opening of business on the day specified in the public announcement of such change.

Adjusted Reference Rate means the percentage rate per annum which is the aggregate of the Reference Rate and the applicable Credit Adjustment Spread and, if that rate is less than zero, the Adjusted Reference Rate shall be deemed to be zero. Affiliate means, in relation to any person, a Subsidiary of that person or a Holding Company of that person or any other Subsidiary of that Holding Company.

Adjusted Reference Rate means, (i) the Initial Reference Rate ------------------------- or, (ii) if Borrower achieves the required minimum EBITDA for the applicable fiscal year end as set forth in the table below (each a "Pricing Benchmark"), from and after the date on which Borrower delivers financial statements to Foothill pursuant to Section 6.3(b) evidencing its achievement of the applicable -------------- Pricing Benchmark, then the Adjusted Reference Rate set forth opposite the applicable Pricing Benchmark set forth in the table below. In the event that Borrower fails to achieve any one or more Pricing Benchmarks, then the Applicable Reference Rate in effect shall remain unchanged. In the event that Borrower achieves any one or more subsequent Pricing Benchmarks, then the applicable Adjusted Interest Rate that Borrower shall be eligible to receive for achievement such subsequent Pricing Benchmarks shall be the applicable Adjusted Reference Rate for the achievement of that Pricing Benchmark plus .25 percentage ---- points for each previous Pricing Benchmark that Borrower has failed to achieve. Fiscal Year End Minimum EBITDA Adjusted Reference Rate June 30, 1998 $ 9,135,000 Reference Rate plus 0.75% ------------------------- June 30, 1999 $ 8,553,000 Reference Rate plus 0.50% ------------------------- June 30, 2000 $ 9,321,000 Reference Rate plus 0.25% --------------- --------------- -------------------------

Adjusted Reference Rate means the Reference Rate, ----------------------- such rate to change when and as the Reference Rate changes, plus one quarter of one percent (1/4%) per annum.