Backstop Rate Switch Date definition

Backstop Rate Switch Date means the date (if any) specified as such in the applicable Compounded Rate Terms, or any other date agreed as such between the Borrower, the Agent (in its own capacity) and the Agent (acting on the instructions of the Majority Lenders).
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Backstop Rate Switch Date means in relation to USD:
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Backstop Rate Switch Date means in relation to a Rate Switch Currency:
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Examples of Backstop Rate Switch Date in a sentence

  • The Rate Switch Agreements contemplate 'Majority Lender' approval for any changes to the 'Backstop Rate Switch Date'.

  • The Backstop Rate Switch Date should also be considered in the context of related hedging.

  • One possibility for parties to consider is to provide for a right for the borrower to determine the Backstop Rate Switch Date subject to specified parameters.

  • Where it is not possible for parties to agree the Backstop Rate Switch Date at the outset, parties may wish to consider alternative constructs for determining the Backstop Rate Switch Date, with a view to mitigating practical implementation issues at a later stage.

  • The Rate Switch Agreements anticipate that the 'Rate Switch Date' is the earlier of a 'Backstop Rate Switch Date' or the date of a rate switch trigger event.

  • In a LevFin context, given the prevalence of large syndicates, the parties may wish to consider the practical implications of a wider lender consent as a condition to effecting adjustments to the Backstop Rate Switch Date, such as whether it might be appropriate for such adjustments to be capable of being 3 As explained in the Commentary to the Rate Switch Agreements, there are working group recommendations for clear contractual arrangements for conversion prior to 31 December 2021.

  • Amend § 762.130(d)(4)(iii)(C) by removing the word “Downpayment” and adding the words “Down Payment” in its place.

  • In a LevFin context, given the prevalence of large syndicates, the parties may wish to consider the practical implications of a wider lender consent as a condition to effecting adjustments to the Backstop Rate Switch Date, such as whether it might be appropriate for such adjustments to be capable of being implemented with no or only limited separate lender consent requirements within pre-agreed parameters.


More Definitions of Backstop Rate Switch Date

Backstop Rate Switch Date means in relation to the Rate Switch Currency, any date agreed as such between the Facility Agent and the Parent in relation to that currency. "Rate Switch Currency" means euro. "Rate Switch Date" means, in relation to the Rate Switch Currency, the earlier of: (a) the Backstop Rate Switch Date; and (b) any Rate Switch Trigger Event Date. "Rate Switch Trigger Event" means: (a) in relation to the Rate Switch Currency and the Screen Rate applicable to Revolving Facility Advances in the Rate Switch Currency: (i) (A) the administrator of the Screen Rate or its supervisor publicly announces that such administrator is insolvent; or (B) information is published in any order, decree, notice, petition or filing, however described, of or filed with a court, tribunal, exchange, regulatory authority or similar administrative, regulatory or judicial body which reasonably confirms that the administrator of the Screen Rate is insolvent, provided that, in each case, at that time, there is no successor administrator to continue to provide the Screen Rate; (ii) the administrator of the Screen Rate publicly announces that it has ceased or will cease to provide the Screen Rate for any Quoted Tenor permanently or indefinitely and, at that time, there is no successor administrator to continue to provide the Screen Rate for that Quoted Tenor; (iii) the supervisor of the administrator of the Screen Rate publicly announces that such Screen Rate has been or will be permanently or indefinitely discontinued for any Quoted Tenor; or (iv) the administrator of the Screen Rate or its supervisor publicly announces that the Screen Rate for any Quoted Tenor may no longer be used, and (b) in relation to the Screen Rate, the supervisor of the administrator of the Screen Rate publicly announces or publishes information stating that the Screen Rate for any Quoted Tenor is no longer, or as of a specified future date will no longer be, representative of the underlying market and the economic reality that it is intended to measure and that such representativeness will not be restored (as determined by such supervisor). "Rate Switch Trigger Event Date" means, in relation to the Rate Switch Currency:
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Related to Backstop Rate Switch Date

  • Replacement Revolving Facility Effective Date shall have the meaning assigned to such term in Section 2.21(l).

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Revolving Facility Termination Date means the earlier of (i) August 9, 2018, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.

  • 5-year Mid-Swap Rate Quotations means the arithmetic mean of the bid and offered rates for the annual fixed leg (calculated on a 30/360 day count basis) of a fixed-for-floating euro interest rate swap transaction which:

  • Incremental Term Loan Maturity Date means the final maturity date of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Modified Restructuring Maturity Limitation Date means with respect to a Reference Obligation, the date that is the later of (x) the Scheduled Maturity Date of the Notes and (y) 60 months following the Restructuring Date in the case of a Restructured Bond or Loan, or 30 months following the Restructuring Date in the case of all other Reference Obligations.

  • Initial Term Loan Maturity Date means August 15, 2025 or, if such date is not a Business Day, the immediately preceding Business Day.

  • Revolving Credit Commitment Termination Date means the earliest to occur of (i) other than with respect to Extended Revolving Credit Commitments, August 28, 2022, (ii) the date the Revolving Credit Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14, (iii) the date of the termination of the Revolving Credit Commitments pursuant to Section 8.2, and (iv) solely with respect to any Extended Revolving Credit Commitments, the applicable Extended Maturity Date.

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Tranche B Term Loan Maturity Date means April 9, 2020 (or if such date is not a Business Day, the immediately preceding Business Day) or such earlier date as may result from the operation of Section 2.08(b), if applicable.

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

  • Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.

  • Scheduled Unavailability Date has the meaning specified in Section 3.03(c).

  • Term Loan Commitment Termination Date means the earliest to occur of (a) the Amendment No. 9 Effective Date, (b) the date the Term Loan Commitments are permanently reduced to zero pursuant to 2.01(b) and (c) the date of the termination of the Term Loan Commitments pursuant to Section 9.01.

  • Revolving Loan Commitment Termination Date means the earliest of

  • Latest Term Loan Maturity Date means, at any date of determination, the latest maturity or expiration date applicable to any Term Loan hereunder at such time, including the latest maturity or expiration date of any New Term Loan or any Extended Term Loan, in each case as extended in accordance with this Agreement from time to time.

  • Tranche A Term Loan Maturity Date means October 20, 2015.

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Incremental Term Maturity Date means, with respect to Incremental Term Loans of any Series, the scheduled date on which such Incremental Term Loans shall become due and payable in full hereunder, as specified in the applicable Incremental Facility Agreement.

  • New Term Loan Maturity Date means the date on which a New Term Loan matures.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.