Reference Rate. (a) The Reference Rate on any Auction Date with respect to Bonds in any Auction Rate Period of 35 days or less shall be the offered rate for deposits in U.S. dollars for a one-month period which appears on the MoneyLine Telerate Page 3750 at approximately 11:00 A.M., London time, on such date, or if such date is not a date on which dealings in U.S. dollars are transacted in the London interbank market, then on the preceding day on which such dealings were transacted in such market. The Reference Rate with respect to Bonds in any Auction Rate Period of more than 35 days shall be the rate on the most recently auctioned Treasury securities having a maturity which most closely approximates the length of the Auction Rate Period, as last published in The Wall Street Journal. If either rate is unavailable, the Reference Rate shall be an index or rate agreed to by all Broker-Dealers and consented to by the Company.
(b) If for any reason on any Auction Date the Reference Rate shall not be determined as hereinabove provided in this Section, the Reference Rate shall be the Reference Rate for the Auction Rate Period ending on such Auction Date.
(c) The determination of the Reference Rate as provided herein shall be conclusive and binding upon the Issuer, the Company, the Trustee, the Remarketing Agent, the Broker-Dealers, the Auction Agent and the Owners of the Bonds.
Reference Rate. The Reference Rate shall mean the per annum rate of interest announced by the Administrative Agent from time to time at its corporate headquarters as its “Reference Rate.” The Reference Rate is an index rate determined by the Administrative Agent from time to time as a means of pricing certain extensions of credit and is neither directly tied to any external rate of interest or index nor necessarily the lowest rate of interest charged by the Administrative Agent at any given time. Any change in the Reference Rate announced by the Administrative Agent shall take effect at the opening of business on the day specified in the public announcement of such change.
Reference Rate. The rate of interest publicly announced from time to time by Bank of America National Trust and Savings Association in San Francisco, California, as its reference rate. The Reference Rate is set by Bank of America National Trust and Savings Association based upon various factors, including Bank of America National Trust and Savings Association's costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans. Bank of America National Trust and Savings Association may price loans 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.
Reference Rate. The reference rate for a year is determined on the basis of the month-end, nominal rate of interest earned on long-term bonds issued by the Government of Canada for the month of November preceding the beginning of the fiscal year, as compiled by Statistics Canada and published in the Bank of Canada Review under identification number B-14013 in the CANSIM system, adjusted by applying successively to that rate the following adjustments:
a) An increase of one half of one percent (0.5%);
b) The conversion of the increased rate, based on interest compounded semi-annually, to an effective annual rate of interest; and
c) the rounding of the effective interest rate to the nearest multiple of one half of one percent (0.5%). The reference rate thus determined may not be less than six percent (6%).
Reference Rate. The unpaid principal amount of each Reference Rate Loan shall bear interest at a rate per annum which shall from day to day be equal to the Reference Rate in effect from day to day plus the Reference Rate Applicable Margin.
Reference Rate. (a) The Reference Rate on any Auction Date with respect to Bonds in any Auction Period of less than 180 days shall be LIBOR. The Reference Rate with respect to Bonds in any Auction Period of 180 days or more shall be the greater of LIBOR or the rate on United States Treasury Securities having a maturity which most closely approximates the length of the Auction Period, as last published in The Wall Street Journal. If either rate is unavailable, the Reference Rate shall be an index or rate agreed to by all Broker-Dealers and consented to by the Borrower.
(b) If for any reason on any Auction Date the Reference Rate shall not be determined as hereinabove provided in this Section, the Reference Rate shall be the Reference Rate for the Auction Period ending on such Auction Date.
(c) The determination of the Reference Rate as provided herein shall be conclusive and binding upon the Borrower, the Authority, the Trustee, the Broker-Dealers, the Auction Agent and the Owners of the Bonds.
Reference Rate. (a) The Reference Rate on any Auction Date with respect to Bonds in any Auction Period of less than 180 days shall be the greater of LIBOR or the Thirty-Day "AA" Composite Commercial Paper Rate on such date. The Reference Rate with respect to Bonds in any Auction Period of 180 days or more but less than one year shall be the greater of LIBOR or the yield on United States Treasury Securities having a maturity which most closely approximates the length of the Auction Period, as last published in The Wall Street Journal. The Reference Rate with respect to Bonds in any Auction Period of one year or more but less than five years shall be the yield on United States Treasury Securities having a maturity which most closely approximates the length of the Auction Period, as last published in The Wall Street Journal. If any such rate is unavailable, the Reference Rate will be an index or rate agreed to by all Broker-Dealers and consented to by the Issuer.
Reference Rate. 12 Release . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Reference Rate. 9 2.66 Responsible Officer............................................... 9 2.67 Scheduled Principal Payment....................................... 9 2.68
Reference Rate. Advances under the Revolving Credit Facilities shall bear interest during each quarter at a rate per annum equal to the Reference Rate plus the percentage points set forth below corresponding to the ratio set forth below as of the end of the immediately preceding quarterly accounting period. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Total Funded Debt/Trailing Reference Rate Spread LIBOR Rate Spread Four Quarter EBITDA -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- >1.75:1 0.25% 2.00% -------------------------------------------------------------------------------- > or equal to 1.75:1>1.00 0.125% 1.875% -------------------------------------------------------------------------------- < or equal to 1.00 0.00% 1.75% -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
