Alternate Base Rate Tranche definition

Alternate Base Rate Tranche means, with respect to any Class A-1 Purchaser or any Class A-2 Purchaser, the portion of the Class A-1 Purchaser Invested Amount or Class A-2 Purchaser Invested Amount, as the case may be, with respect to such Class A-1 Purchaser or Class A-2 Purchaser, as the case may be, not allocated to a Eurodollar Tranche.
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Alternate Base Rate Tranche any Tranche that bears interest at the Alternate Base Rate.
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Alternate Base Rate Tranche means an Asset Tranche with respect --------------------------- to which Yield will be calculated at the Alternate Base Rate.
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Examples of Alternate Base Rate Tranche in a sentence

  • Notwithstanding anything to the contrary contained herein, if a LIBOR Tranche is converted to an Alternate Base Rate Tranche pursuant to this Section 6.1.6, the per annum interest rate applicable thereto from and after the effective date of such conversion shall be the Alternate Base Rate (but otherwise calculated as provided in Section 3).

  • Borrower may (i) at any time convert an Alternate Base Rate Tranche to a LIBOR Tranche, or (ii) at the end of any Interest Period of a LIBOR Tranche, continue such LIBOR Tranche as a LIBOR Tranche for an additional Interest Period or convert the Tranche to an Alternate Base Rate Tranche.

  • If the obligation of Lender to make an Advance that will be a LIBOR Tranche or to continue any LIBOR Tranche or to convert any Alternate Base Rate Tranche into a LIBOR Tranche shall be suspended pursuant to Section 18.2 or 18.3, each such Tranche shall be automatically and immediately converted into an Alternate Base Rate Tranche on the last day of its Interest Period (or, in the case of a conversion required by Section 18.3, on such earlier date as Lender may specify to Borrower).

  • Each such notice of a proposed Purchase shall specify the amount of the Purchase (which shall be in the amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof), the Purchase Date, the amount of each Asset Tranche resulting from such Purchase (specifying whether it is to be an Eurodollar Tranche or an Alternate Base Rate Tranche) and the duration of the initial Yield Period for any Eurodollar Tranche.

  • If a Notice of Conversion/Continuation is not made by 11:00 a.m. St. Louis time on the second Business Day preceding the last day of the Interest Period if the Tranche is a LIBOR Tranche, then Borrower shall be deemed to have timely given a Notice of Conversion/Continuation to Lender requesting to convert the Tranche to an Alternate Base Rate Tranche.

  • While a Tranche is an Alternate Base Rate Tranche, Borrower shall pay interest accrued thereon monthly in arrears, beginning on the first Business Day of the first calendar month following the Effective Date, and continuing on the first day of each calendar month thereafter until the Maturity Date.

  • A request to Lender for an Advance may be oral (in person or by telephone) or in writing (mailed, personally delivered or telecopied as provided in Section 22.1), shall be from a Borrowing Officer, and shall specify the amount of the Advance to be made, the Advance Date, which portion of the Advance is to be an Alternate Base Rate Tranche and, if any, each portion of the Advance that is to be a separate LIBOR Tranche and the Interest Period therefor.


More Definitions of Alternate Base Rate Tranche

Alternate Base Rate Tranche a Tranche on which interest accrues at the Alternate Base Rate.
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Related to Alternate Base Rate Tranche

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • Alternate Base Rate Loans means Loans that bear interest at an interest rate based on the Alternate Base Rate.

  • Alternate Base Rate means, for any day, a rate per annum equal to the greater of (a) the Prime Rate in effect on such day and (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%. Any change in the Alternate Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective from and including the effective date of such change in the Prime Rate or the Federal Funds Effective Rate, respectively.

  • Alternate Base Rate Loan means a Loan which bears interest at the Alternate Base Rate or the Default Rate.

  • Alternative Base Rate means the rate that has replaced LIBOR in customary market usage for determining floating interest rates in respect of bonds denominated in Dollars or, if the Independent Financial Adviser or the Issuer (in consultation with the Calculation Agent and acting in good faith and a commercially reasonable manner), as applicable, determines that there is no such rate, such other rate as the Independent Financial Adviser or the Issuer (in consultation with the Calculation Agent and acting in good faith and a commercially reasonable manner), as applicable, determines in its or the Issuer’s sole discretion is most comparable to LIBOR. If the Alternative Base Rate is determined, such Alternative Base Rate shall be the Alternative Base Rate for the remaining Interest Periods.

  • Base Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(i) [Revolving Credit Base Rate Option].

  • Alternate Rate means, for any day, the sum of (a) a rate per annum selected by the Administrative Agent, in its reasonable discretion based on market conditions in consultation with the Company (and any applicable Subsidiary Borrower) and the relevant Lenders, plus (b) the Applicable Margin for Eurocurrency Loans. When used in reference to any Loan, “Alternate Rate” refers to whether such Loan is bearing interest at a rate determined by reference to the Alternate Rate.

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • Revolving Credit Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of:

  • Base Rate Basis means a simple interest rate equal to the sum of (i) the Base Rate and (ii) the Applicable Margin applicable to Base Rate Advances for the applicable Loans. The Base Rate Basis shall be adjusted automatically as of the opening of business on the effective date of each change in the Base Rate to account for such change, and shall also be adjusted to reflect changes of the Applicable Margin applicable to Base Rate Advances.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • U.S. Base Rate means, for any day, the rate of interest per annum equal to the greater of (a) the interest rate per annum publicly announced from time to time by the Administrative Agent as its reference rate in effect on such day at its principal office in Toronto for determining interest rates applicable to commercial loans denominated in U.S. Dollars in Canada (each change in such reference rate being effective from and including the date such change is publicly announced as being effective) and (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%.

  • LIBOR Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(ii) [Revolving Credit LIBOR Rate Option].

  • Eurodollar Rate Reserve Percentage for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Eurocurrency Base Rate means, for such Interest Period:

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period:

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • Eurocurrency Rate Reserve Percentage for any Interest Period for all Eurocurrency Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurocurrency Rate Advances is determined) having a term equal to such Interest Period.

  • Applicable Base Rate means (i) with respect to a Rate Period of fewer than 49 days, the greater of (a) the SIFMA Municipal Swap Index or (b) the LIBOR Rate, and (ii) with respect to a Rate Period of 49 or more days, the LIBOR Rate.

  • EURIBOR Rate has the meaning specified in the definition of “Eurocurrency Rate”.

  • Base Rate Term Loan means a Term Loan that is a Base Rate Loan.

  • LIBO Base Rate means with respect to each day an Advance is outstanding (or if such day is not a Business Day, the next succeeding Business Day), the rate per annum equal to the rate published by Bloomberg or if such rate is not available, the rate appearing at page 3750 of the Telerate Screen as one-month LIBOR on such date, and if such rate shall not be so quoted, the rate per annum at which the Lender is offered Dollar deposits at or about 11:00 A.M., eastern time, on such date by prime banks in the interbank eurodollar market where the eurodollar and foreign currency and exchange operations in respect of its Advances are then being conducted for delivery on such day for a period of one month and in an amount comparable to the amount of the Advances to be outstanding on such day.