Adjusted CDOR Rate definition

Adjusted CDOR Rate means, with respect to any Term Benchmark Borrowing denominated in Canadian Dollars for any Interest Period, an interest rate per annum equal to (a) the CDOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.

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Adjusted CDOR Rate means, with respect to any CDOR Rate Borrowing for any Interest Period, an interest rate per annum equal to the higher of (a) the CDOR Rate in effect for such Interest Period and (b) 0.00% per annum.

Adjusted CDOR Rate means, with respect to any Eurocurrency Borrowing denominated in Canadian Dollars for any Interest Period, an interest rate per annum equal to (a) the CDOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.

Examples of Adjusted CDOR Rate in a sentence

• All interest hereunder shall be computed on the basis of a year of 360 days, except that (i) interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate and (ii) interest computed by reference to the Adjusted CDOR Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day).

• The Loans constituting each Eurocurrency Borrowing denominated in CAD shall bear interest at a rate per annum equal to the Adjusted CDOR Rate for the related Interest Period for such Borrowing plus the Applicable Margin.

• The applicable Alternate Base Rate, Adjusted CDOR Rate, Adjusted EURIBO Rate and Adjusted Term SOFR Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.

• Interest on the Canadian Revolving Loans that are denominated in C$ shall bear interest on their respective outstanding principal balances at the Adjusted Canadian Prime Rate, except where it is expressly provided pursuant to this Agreement that the Adjusted CDOR Rate is to apply to such Canadian Revolving Loans that are denominated in C$.

• For any Business Day, an interest rate per annum equal to, for any Term Benchmark Loan denominated in (i) Dollars, Adjusted Term SOFR, (ii) Canadian Dollars, the Adjusted CDOR Rate, and (iii) Euros, the Adjusted EURIBOR Rate.

• The Loans constituting each CDOR Borrowing shall bear interest at a rate per annum equal to Adjusted CDOR Rate for the related Interest Period for such Borrowing plus the Applicable Margin.

• Provided no Default or Event of Default has occurred and is continuing, and subject to the provisions of the last three (3) sentences of Subsection 2.8(a) hereinabove and the provisions of Section 2.9 hereof, the applicable Borrower may elect to have the Adjusted LIBOR Rate or Adjusted CDOR Rate, as the case may be, apply or continue to apply to all or any portion of the principal balances of the applicable Class of Revolving Loans to such Borrower.

• Notwithstanding anything contained herein to the contrary and for the avoidance of doubt, (x) Pounds Sterling may only be borrowed as Daily Simple RFR Loans, (y) Canadian Dollars may only be borrowed as Alternative Currency Loans accruing interest based on the Adjusted CDOR Rate and (z) Euros may only be borrowed as Alternative Currency Loans accruing interest based on the Adjusted EURIBOR Rate.

• The applicable Alternate Base Rate, Canadian Prime Rate, CDOR Rate, Adjusted CDOR Rate, Adjusted Term SOFR Rate, Adjusted Daily Simple RFR or Daily Simple RFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.

• The applicable Alternate Base Rate, Canadian BasePrime Rate, Adjusted LIBO Rate, LIBO Rate or BA Equivalent Rate, Adjusted EURIBO Rate, EURIBO Rate Adjusted TIBO Rate, TIBO Rate Adjusted CDOR Rate, CDOR Rate or Daily Simple RFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.

More Definitions of Adjusted CDOR Rate

Adjusted CDOR Rate means, for the Interest Period for any Eurocurrency Borrowing denominated in CAD, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the CDOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate for such Interest Period; provided that if such rate shall be less than the Floor, the Adjusted CDOR Rate shall be deemed to be equal to the Floor for the purposes of this Agreement.

Adjusted CDOR Rate. With respect to any Term Benchmark Loans denominated in Canadian Dollars for any Interest Period, an interest rate per annum equal to (a) the Canadian CDOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided that if the Adjusted CDOR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement. Adjusted EURIBOR Rate. With respect to any Term Benchmark Loans denominated in Euro for any Interest Period, an interest rate per annum equal to (a) the EURIBOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided that if the Adjusted EURIBOR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.

Adjusted CDOR Rate means, for the Interest Period for any Eurocurrency Borrowing denominated in CAD, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the CDOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate for such

Adjusted CDOR Rate means, for the Interest Period for any Borrowing, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the CDOR Rate for such Interest Period; provided that if the Adjusted CDOR Rate shall be less than 0.25%, such rate shall be deemed to be 0.25% for purposes of this Agreement.

Adjusted CDOR Rate means, with respect to any Term Benchmark Borrowing denominated in Canadian Dollars for any Interest Period, an interest rate per annum equal to (a) the CDOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided that if the Adjusted CDOR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement. “Adjusted Daily Simple RFR” means with respect to any RFR Borrowing denominated in Dollars, an interest rate per annum equal to (a) the Daily Simple RFR for Dollars, plus (b) 0.10%; provided that if the Adjusted Daily Simple RFR as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement. “Adjusted Term SOFR Rate” means, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period, plus (b) 0.10%; provided that if the Adjusted Term SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement. “Administrative Agent” means JPMorgan Chase Bank, N.A. (or any of its designated branch offices or affiliates), in its capacity as administrative agent for the Lenders hereunder.

Adjusted CDOR Rate. With respect to any Term Benchmark Loans denominated in Canadian Dollars for any Interest Period, an interest rate per annum equal to (a) the Canadian CDOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided that if the Adjusted CDOR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.