Alternate Currency Base Rate definition

Alternate Currency Base Rate means, for any day, the rate per annum which is quoted at approximately 10:00 a.m. (London time) to leading banks in the European interbank market by the Administrative Agent for the offering of overnight deposits in the relevant Alternate Currency or, at the option of the Administrative Agent in respect of an outstanding Reimbursement Obligation in an Alternate Currency, such other base rate as the Administrative Agent would customarily charge on similar obligations of companies of comparable credit standing.

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Alternate Currency Base Rate means, with respect to Sterling Loans, the U.K. Base Rate; with respect to Canadian Loans, the Canadian Prime Rate; and with respect to all other Alternate Currency Loans, the base commercial lending rate of interest charged by commercial banks as publicly announced by a bank located in the applicable country and selected by Agent in its sole discretion to be in effect from time to time, such rate to be adjusted automatically, without notice, on the effective date of any change in such rate.

Alternate Currency Base Rate means for any Interest Period for each Alternate Currency Advance, the rate of interest determined by Administrative Agent at which deposits in the applicable Alternate Currency (except for British pounds sterling or any other Alternate Currency for which there is not a quote available on the Telerate Screen) for the relevant Interest Period are offered based on information presented on the Telerate Screen as of 11:00 A.M. (London time) on the day which is two (2) Business Days prior to the first day of such Interest Period; provided, that if at least two such offered rates appear on the Telerate Screen in respect of such Interest Period, the arithmetic mean of all such rates (as determined by Administrative Agent) will be the rate used; provided, further, if (i) the Telerate System ceases to provide the required quotation, or (ii) with respect to any Alternate Currency Advance made in British pounds sterling or any other Alternate Currency for which there is not a quote available on the Telerate Screen, such rate shall be the per annum rate of interest determined by the arithmetic average (rounded upward, if necessary, to the nearest .01%) of the respective rates per annum at which deposits in British pounds sterling or such other Alternate Currency would be offered to each of the Reference Banks in the London interbank market at approximately 11:00 A.M. (London time) two Business Days before the first day of such Interest Period in an amount approximately equal to the principal amount in British pounds sterling or such other Alternate Currency of the related Alternate Currency Advance to which such Interest Period is to apply and for a period of time comparable to such Interest Period.

Examples of Alternate Currency Base Rate in a sentence

If Agent does not receive timely notice of the Interest Period elected by Borrower, Borrower shall be deemed to have elected to convert such LIBO Rate Loan to an Alternate Base Rate Loan and such Alternate Currency Loan to an Alternate Currency Base Rate Loan, in each case subject to Section 2.12(e) hereof.
Agent shall notify Borrower two (2) Business Days prior to the effective date of the requested Alternate Currency Loan of the determination made as to the availability of the requested Alternate Currency and the related Alternate Currency Base Rate or Alternate Currency LIBO Rate.
Provided that no Event of Default shall have occurred and be continuing, Borrower may convert any LIBO Rate Loan, Alternate Currency LIBO Rate Loan, Alternate Base Rate Loan or Alternate Currency Base Rate Loan into a loan of another type in the same aggregate principal amount provided that any conversion of a LIBO Rate Loan or Alternate Currency LIBO Rate Loan shall be made only on the last Business Day of the then current Interest Period applicable to such LIBO Rate Loan.
Whenever subsequent to the date of this Agreement, the Alternate Base Rate or the Alternate Currency Base Rate is increased or decreased, the applicable Contract Rate for Alternate Base Rate Loans or Alternate Currency Base Rate Loans, as the case may be, shall be similarly changed without notice or demand of any kind by an amount equal to the amount of such change in the Alternate Base Rate or Alternate Currency Base Rate during the time such change or changes remain in effect.

More Definitions of Alternate Currency Base Rate

Alternate Currency Base Rate means for any Interest Period for each Alternate Currency Advance, the rate of interest determined by Agent at which deposits in the applicable Alternate Currency (except for British pounds sterling) for the relevant Interest Period are offered based on information presented on the Telerate Screen as of 11:00 A.M. (London time) on the day which is two (2) Business Days prior to the first day of such Interest Period; provided, that if at least two such offered rates appear on the Telerate Screen in respect of such Interest Period, the arithmetic mean of all such rates (as determined by Agent) will be the rate used; provided, further, if (i) the Telerate

Alternate Currency Base Rate means, subject to the implementation of a Replacement Rate in accordance with Section 3.5(c), with respect to an Alternate Currency Loan:

Alternate Currency Base Rate means, subject to the implementation of a Replacement Rate in accordance with Section 3.5(c), with respect to an Alternate Currency Loan:Equivalent” means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternate Currency as determined by the Agent or the applicable Issuing Lender (with notice thereof to the Agent), as the case may be, in its sole discretion by reference to the most recent Spot Rate (as determined in respect of the most recent Revaluation Date) for the purchase of such Alternate Currency with Dollars.

Alternate Currency Base Rate means for any Interest Period for each ---------------------------- Alternate Currency Loan, a rate per annum equal to the per annum rate of interest determined by the Agent (rounded upward to the nearest 0.01%) to be the rate per annum at which deposits in the relevant Alternate Currency are offered by the Alternate Currency Lending Office of Agent to a prime bank in the interbank domestic alternate currency market at 10:00 a.m. (Central Time) two Business Days before the first day of such Interest Period, for a period equal to such Interest Period in an amount substantially equal to the amount of the relevant Alternate Currency Loan to be outstanding during such Interest Period.

Alternate Currency Base Rate means, for any day, the rate per annum which is quoted at approximately 10:00