Daily Non-Cumulative Compounded RFR Rate definition

Daily Non-Cumulative Compounded RFR Rate means, in relation to any U.S. Government Securities Business Day during a Floating Rate Interest Period for a Loan (or any part of it), the percentage rate per annum determined by the Facility Agent in accordance with the methodology set out in Schedule 15B (Daily Non-Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement.

Daily Non-Cumulative Compounded RFR Rate for any RFR Banking Day “i” during an Interest Period for a Compounded Rate Loan is the percentage rate per annum (without rounding, to the extent reasonably practicable for the Finance Party performing the calculation, taking into account the capabilities of any software used for that purpose) calculated as set out below: where:

Daily Non-Cumulative Compounded RFR Rate means, in relation to any RFR Banking Day during an Interest Period for a Loan, the percentage rate per annum determined by the Agent (or by any other Finance Party which agrees to determine that rate in place of the Agent) in accordance with the methodology set out in Schedule 14 (Daily Non-Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement.

Examples of Daily Non-Cumulative Compounded RFR Rate in a sentence

• The following new interest rate provisions will provide for Daily Non-Cumulative Compounded RFR Rate (as defined below) to replace USD-LIBOR as the applicable interest rate benchmark for the calculation of interest on the Loan under the Agreement as further set out in section 3 (New interest provisions) below.

• Subject to the provisions of this Agreement, the rate of interest on the Loan in respect of an Interest Period shall be the aggregate of (a) the Margin and (b) the Daily Non-Cumulative Compounded RFR Rate for that day.

• SCHEDULE 2 SCOPE OF AMENDMENTS The following new interest rate provisions will provide for Daily Non-Cumulative Compounded RFR Rate (as defined below) to replace USD-LIBOR as the applicable interest rate benchmark for the calculation of interest on the Loan under the Agreement as further set out in section 3 (New interest provisions) below.

• If there is no applicable RFR or Central Bank Rate for the purposes of calculating the Daily Non-Cumulative Compounded RFR Rate for an RFR Banking Day during the term of the Loan, the Daily Rate shall be the rate notified to the Borrower by the Lender as soon as reasonably practicable, to be that which expresses as a percentage rate per annum the Lender’s cost of funds relating to its participation in that Loan for such day.

• If paragraph (c) above applies but there is no applicable RFR or Central Bank Rate for the purposes of calculating the Daily Non-Cumulative Compounded RFR Rate for an RFR Banking Day during an Interest Period for the Loan or the relevant part of the Loan, then Clause 11.3 (Cost of funds) shall apply to the Loan or that part of the Loan for that Interest Period.

More Definitions of Daily Non-Cumulative Compounded RFR Rate

Daily Non-Cumulative Compounded RFR Rate means, in relation to any RFR Banking Day during an Interest Period for a Compounded Rate Loan, the percentage rate per annum determined by the Facility Agent (or by any other Finance Party which agrees to determine that rate in place of the Facility Agent) in accordance with the methodology set out in Schedule 10 (Daily Non-Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement.

Daily Non-Cumulative Compounded RFR Rate for any RFR Banking Day “i” during an Interest Period for a Loan is the percentage rate per annum (without rounding, to the extent reasonably practicable for the Finance Party performing the calculation, taking into account the capabilities of any software used for that purpose) calculated as set out below: where:

Daily Non-Cumulative Compounded RFR Rate means, in relation to any RFR Banking Day during an Interest Period for a Loan, the percentage rate per annum determined by the Lender in accordance with the methodology set out in Schedule 5 (Daily Non-Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement.

Daily Non-Cumulative Compounded RFR Rate means, in relation to any RFR Business Day during a Floating Rate Reference Period for an RFR Floating Rate Tranche, the percentage rate per annum determined by the Bank in accordance with the methodology set out in Schedule F.

Daily Non-Cumulative Compounded RFR Rate means, in relation to any RFR Banking Day, the percentage rate per annum determined by the Reporting Services Provider in accordance with the methodology set out in Schedule 4 (Daily Non-Cumulative Compounded RFR Rate).

Daily Non-Cumulative Compounded RFR Rate means, in relation to any applicable RFR banking day during the interest period of a Loan in pounds Sterling, the percentage rate per annum determined by the Interim Facilities Agent in accordance with the methodology set out in Schedule 14 (Daily Non-Cumulative Compounded RFR Rate) of the Interim Facilities Agreement, which provides for the applicable risk free rate as being the SONIA (Sterling overnight index average) reference rate published on the Bank of England’s website (currently at http://www.bankofengland.co.uk), or any successor sources for the Sterling overnight index average identified as such by the Bank of England from time to time. Underwriting fees and upfront fees, among other fees, are also payable under the terms of the Interim Facilities Agreement and ancillary documentation. The secured parties under the Interim Facilities Agreement receive the benefit of security including: (a) a limited recourse Jersey law security interest over all the shares of Midco; (b) a limited recourse Jersey law security interest over intra-Group loan receivables owed by Midco to Topco; (c) a Jersey law security interest over material banks accounts owned by Midco and Bidco; and (d) a Jersey law security interest over intra-Group loan receivables owed by Bidco to Midco. Apollo Equity Commitment Letter In connection with their equity financing of Bidco, the Apollo Funds have each, on a several basis, entered into the Apollo Equity Commitment Letter, which sets which sets out the basis on which the Apollo Funds will invest, directly or indirectly, in immediately available funds, their respective share of £267,415,997 in Bidco to enable Bidco to pay the consideration payable for the Scheme Shares. Pursuant to the terms of the Apollo Equity Commitment Letter, the Apollo Funds will procure that such equity financing has occurred on or before the date by which Bidco must pay the cash consideration payable for the Scheme Shares.

Daily Non-Cumulative Compounded RFR Rate means, in relation to any applicable RFR Banking Day during an Interest Period for a Compounded Rate Loan in a Compounded Rate Currency, (i) (in the case of Xxxxxxxx) the percentage rate per annum determined by the Interim Facilities Agent (or by any other Interim Finance Party which agrees with the Obligors’ Agent to determine that rate in place of the Interim Facilities Agent ) in accordance with the methodology set out in Schedule 14 (Daily Non-Cumulative Compounded RFR Rate) or the Latest Compounded Rate Supplement in relation thereto then in effect; or (ii) (in the case of any other currency) determined by the relevant person and in accordance with the relevant methodology as set out in the applicable Latest Compounded Rate Supplement then in effect.