Adjusted Certificate of Deposit Rate means, on any day, the sum (rounded to the nearest 1/100 of 1%) of (1) the rate obtained by dividing (x) the most recent weekly average dealer offering rate for negotiable certificates of deposit with a three-month maturity in the secondary market as published in the most recent Federal Reserve System publication entitled "Select Interest Rates," published weekly on Form H.15 as of the date hereof, or if such publication or a substitute containing the foregoing rate information shall not be published by the Federal Reserve System for any week, the weekly average offering rate determined by the Administrative Agent on the basis of quotations for such certificates received by it from three certificate of deposit dealers in New York of recognized standing or, if such quotations are unavailable, then on the basis of other sources reasonably selected by the Administrative Agent, by (y) a percentage equal to 100% minus the stated maximum rate of all reserve requirements as specified in Regulation D applicable on such day to a three-month certificate of deposit of a member bank of the Federal Reserve System in excess of $100,000 (including, without limitation, any marginal, emergency, supplemental, special or other reserves), plus (2) the then daily net annual assessment rate as estimated by the Administrative Agent for determining the current annual assessment payable by the Administrative Agent to the Federal Deposit Insurance Corporation for insuring three-month certificates of deposit.
Adjusted Certificate of Deposit Rate means, on any day, the sum (rounded to the nearest 1/100 of 1%) of (1) the rate obtained by dividing (x) the most recent weekly average dealer offering rate for negotiable certificates of deposit with a three-month maturity in the secondary market as published in the most recent Federal Reserve System publication entitled "Select Interest Rates", published weekly on Form H.15 as of the date hereof, or if such publication or a substitute containing the foregoing rate information shall not be published by the Federal Reserve System for any week, the weekly average offering rate determined by the Agent on the basis of quotations for such certificates received by it from three certificate of deposit dealers in New York of recognized standing or, if such quotations are unavailable, then on the basis of other sources reasonably selected by the Agent, by (y) a percentage equal to 100% minus the stated maximum rate of all reserve requirements as specified in Regulation D of the Board of Governors of the Federal Reserve System applicable on such day to a three-month certificate of deposit of a member bank of the Federal Reserve System in excess of $100,000 (including, without limitation, any marginal, emergency, supplemental, special or other reserves), plus (2) the then daily net annual assessment rate (expressed as a percentage) as estimated by the Agent for determining the current annual assessment payable by the Agent to the Federal Deposit Insurance Corporation for insuring three-month certificates of deposit.
Adjusted Certificate of Deposit Rate means, on any day, the sum of (rounded to the nearest 1/100 of 1%) of (i) the rate obtained by dividing (A) the most recent weekly average dealer offering rate for negotiable certificates of deposit with a three-month maturity in the secondary market as published in the most recent Federal Reserve System publication entitled "Select Interest Rates," published weekly on Form H.15 as of the date hereof, or if such publication or substitute containing the foregoing rate information shall not be published by the Federal Reserve System for any week, the weekly average offering rate determined on the basis of quotations for such certificates received by it from three certificate of deposit dealers in New York of recognized standing or, if such quotations are unavailable, then on the basis of other reasonable sources, by (B) a percent equal to the 100% minus the stated maximum rate of all reserve three-month certificates of deposit of a member bank of the Federal Reserve System in excess of $100,000 (including, without limitation, any marginal, emergency supplemental, special or other reserves), plus (ii) the then daily net annual assessment rate established by the Trustee for determining the current annual assessment payable by the Trustee to the Federal Reserve Insurance Corporation for insuring three-month certificates of deposit.
Examples of Adjusted Certificate of Deposit Rate in a sentence
Borrowings are uncollateralized and bear interest at a rate of between 1.50% and 2.25% per annum over the bank's Reserve Adjusted Certificate of Deposit Rate (RACD) as defined in the agreement.
Subject to the provisions of subsection 2.3.F, each Loan (other than Bid Rate Loans, which shall bear interest as provided in subsection 2.1.E) shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate, the Adjusted Certificate of Deposit Rate or the Adjusted Eurodollar Rate, as the case may be.
As defined in the agreement, borrowings under the Credit Facility bear interest, at the Company's option, at a per annum rate equal to the Eurodollar Rate plus .500 percent until June 30, 1997, and thereafter plus .375 percent or a base rate (equal to the greater of (i) the prime rate announced by the agent bank, (ii) the Federal Funds Effective Rate plus .500 percent or (iii) the Adjusted Certificate of Deposit Rate plus .500 percent).
In such event, the Participation Rate with respect to such proposed Tranche Period and related Tranche shall be determined by reference to the Adjusted Certificate of Deposit Rate.
More Definitions of Adjusted Certificate of Deposit Rate
Adjusted Certificate of Deposit Rate means, on any day, the sum (rounded to the nearest 1/100 of 1%) of (1) the rate obtained by dividing (x) the most recent weekly average dealer offering rate for negotiable certificates of deposit with a three-month maturity in the secondary market as published in the most recent Federal Reserve System publication entitled
Adjusted Certificate of Deposit Rate means, on any day, the sum (rounded to the nearest 1/100 of 1%) of (1) the rate obtained by dividing (x) the most recent weekly average dealer offering rate for negotiable certificates of deposit with a three-month maturity in the secondary market as published in the most recent Federal Reserve System publication entitled "Select Interest Rates," published weekly on Form H.15 as of the date hereof, or if such publication or a substitute containing the foregoing rate information shall not be published by the Federal Reserve System for any week, the weekly average offering rate determined by the Agent on the basis of quotations for such certificates received by it from three certificate of deposit dealers in New York of recognized standing or, if such quotations are unavailable, then on the basis of other sources reasonably selected by the Agent, by (y) a percentage equal to 100% minus the stated maximum rate of all reserve requirements as specified in Regulation D applicable on such day to a three-month certificate of deposit of a member bank of the Federal Reserve System in excess of $100,000 (including, without limitation, any marginal, emergency, supplemental, special or other reserves), plus (2) the annual assessment rate in effect of such day which is payable by a member of the Bank Insurance Fund maintained by the Federal Deposit Insurance Corporation (the "FDIC") (or any successor) classified as well-capitalized and within supervisory subgroup "B" (or such higher subgroup classification as may be in effect from time to time for the Agent) (or a comparable successor assessment risk classification) within the meaning of 12 C.F.R. (S)327.3(d) (or any successor provision) to the FDIC (or any successor) for the FDIC's (or such successor's) insuring time deposits at offices of such institution in the United States.
Adjusted Certificate of Deposit Rate means, on any day, the sum (rounded to the nearest 1/100 of 1%) of (1) the rate obtained by dividing (x) the most recent weekly average dealer offering rate for negotiable certificates of deposit with a three-month maturity in the secondary market as published in the most recent Federal Reserve System publication entitled "Select Interest Rates," published weekly on Form H.15 as of the date hereof, or if such publication or a substitute containing the foregoing rate information shall not be published by the Federal Reserve System for any week, the weekly average offering rate determined by the Bank on the basis of quotations for such certificates received by it from three certificate of deposit dealers in New York of recognized standing or, if such quotations are unavailable, then on the basis of other sources reasonably selected by the Bank, by (y) a percentage equal to 100% minus the stated maximum rate of all reserve requirements as specified in Regulation D applicable on such day to a three-month certificate of deposit of a member bank of the Federal Reserve System in excess of S100,000 (including, without limitation, any marginal, emergency, supplemental, special or other reserves), plus (2) the then daily net annual assessment rate as estimated by the Bank for determining the current annual assessment payable by the Bank to the Federal Deposit Insurance Corporation for insuring three month certificates of deposit.
Adjusted Certificate of Deposit Rate means, on any day, 1/2 of -------------------------------------- 1% in excess of the sum (rounded to the nearest 1/100 of 1%) of (1) the rate obtained by dividing (x) the most recent weekly average dealer offering rate per annum for negotiable certificates of deposit with a three-month maturity in the secondary market as published in the most recent Federal Reserve Statistical Release on Form H.15 entitled "Selected Interest Rate," or, if such publication or a substitute containing the foregoing rate information shall not be published by the Federal Reserve System for any week, the weekly average offering rate determined in good faith by Bankers on the basis of quotations for such certificates received by it from two or more certificate of deposit dealers in New York of recognized standing or, if such quotations are unavailable, then on the basis of other sources reasonably selected by Bankers, by (y) a percentage equal to 1 minus the stated maximum rate (expressed as a decimal) for all reserve requirements as specified in Regulation D (including, without limitation, any marginal, emergency, supplemental, special or other reserves), applicable on such day to a three-month certificate of deposit in excess of $100,000 of any member bank of the Federal Reserve System, plus (2) the then daily net annual assessment rate ---- as estimated in good faith by Bankers for determining the current annual assessment payable by Bankers to the Federal Deposit Insurance Corporation for insuring three-month certificates of deposit.
Adjusted Certificate of Deposit Rate means, on any day, the sum (rounded to the nearest 1/100 of 1%) of (1) the rate obtained by dividing (x) the most recent weekly average dealer offering rate for negotiable certificates of deposit with a three-month maturity in the secondary market as published in the most recent Federal Reserve System publication entitled "Select Interest Rates," published weekly on Form H.15 as of the date hereof, or if such publication or a substitute containing the foregoing rate information shall not be published by the Federal Reserve System for any week, the weekly average offering rate determined by the Agent on the basis of quotations for such certificates received by it
Adjusted Certificate of Deposit Rate means, with respect to a ------------------------------------ Tranche and the related Tranche Period, the sum (rounded upward to the next highest 1/100 of 1%) of (i) the rate obtained by dividing (x) the Certificate of Deposit Rate by (y) a percentage equal to 100% minus the full reserve requirement percentage as specified by the Board of Governors of the Federal Reserve System that the Agent determines would be applicable on the date of determination to a certificate of deposit of the Agent in excess of $100,000 with a maturity comparable to the related Tranche Period (including, without limitation, any marginal, emergency, supplemental, special or other reserves if the Agent, in its sole discretion, determines that it is required to maintain any such reserves on such day), plus (ii) the then daily net annual assessment rate as estimated by the Agent for determining the current annual assessment payable by the Agent to the Federal Deposit Insurance Corporation for insuring certificates of deposit with a maturity comparable to the related Tranche Period.
Adjusted Certificate of Deposit Rate means, for any Interest Rate Determination Date, the sum (rounded upward to the next highest one hundredth of one percent) of (i) the rate obtained by dividing (x) the Certificate of Deposit Rate for that day by (y) a percentage equal to 100% minus the full reserve requirement percentage as specified by the Board of Governors of the Federal Reserve System that Bankers determines would be applicable on that day to a certificate of deposit of Bankers in excess of $100,000 with a maturity comparable to the Interest Period to which the interest rate being determined will apply (including, without limitation, any marginal, emergency, supplemental, special or other reserves if Bankers determines that it is required to maintain any such reserves on such day), plus (ii) the then daily net annual assessment rate as estimated by Agent for determining the current annual assessment payable by Bankers to the Federal Deposit Insurance Corporation for insuring certificates of deposit with a maturity comparable to the Interest Period to which the interest rate being determined will apply.