Alternate Rate definition

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.

Alternate Rate is a rate of interest per annum five percent (5%) in excess of the applicable Effective Rate in effect from time to time.

Alternate Rate is defined in Section 2.4.

Examples of Alternate Rate in a sentence

• If, however, there was no Liquidity Facility in effect for such 2024 Series D-2 Bond to have been changed from the Term Rate Mode, then such 2024 Series D-2 Bond shall stay in the Term Rate Mode for an Interest Period ending on the next Stated Interest Payment Date and shall bear interest at the applicable Alternate Rate.

• If sufficient funds are not available for the purchase of all 2024 Series D-2 Bonds tendered or deemed tendered and required to be purchased on any Purchase Date or Mandatory Purchase Date, all such 2024 Series D-2 Bonds shall bear interest at the applicable Alternate Rate from the date of such failed purchase until all such 2024 Series D-2 Bonds are purchased as required in accordance with this Series Indenture, and all tendered 2024 Series D-2 Bonds shall be returned to their respective Owners.

More Definitions of Alternate Rate

Alternate Rate means, with respect to each Interest Accrual Period, the per annum rate of interest of the Alternate Index, determined as of the Determination Date immediately preceding the commencement of such Interest Accrual Period.

Alternate Rate means the Base Rate.

Alternate Rate means, with respect to each Interest Period, (a) the per annum rate of interest of the applicable Benchmark Replacement, determined by Lender for such Interest Period, plus (b) the Applicable Margin.

Alternate Rate for any Fixed Period for any Funding Tranche means an interest rate per annum equal to the sum of (x) Applicable Margin per annum and (y) the Eurodollar Rate for such Fixed Period; provided, however, that in the case of:

Alternate Rate means, for any Rate Period for any Portion of Investment, an interest rate per annum equal to the sum of the Offshore Rate and the Applicable Margin for such Rate Period; provided, however, that, in the case of:

Alternate Rate for any Settlement Period for any Portion of Capital means an interest rate per annum equal to: (a) 3.25% per annum above the Euro-Rate for such Settlement Period or, in the sole discretion of the applicable Purchaser, (b) the Base Rate for such Settlement Period; provided, that the “Alternate Rate” for any day while a Termination Event exists shall be an interest rate equal to the greater of (i) 3.00% per annum above the Base Rate in effect on such day and (ii) the “Alternate Rate” as calculated in clause (a) above.

Alternate Rate for any Settlement Period for any Portion of Capital of the Purchased Interest means an interest rate per annum equal to: (a) 1.25% per annum above the Euro-Rate for such Settlement Period; provided, however, that if (x) it shall become unlawful for any Purchaser or Program Support Provider to obtain funds in the London interbank eurodollar market in order to make, fund or maintain any Purchased Interest, or if such funds shall not be reasonably available to any Purchaser or Program Support Provider, or (y) there shall not be at least two Business Days prior to the commencement of an applicable Settlement Period to determine a Euro-Rate in accordance with its terms, then the "Alternate Rate" shall be equal to the Base Rate in effect for each day during the remainder of such Settlement Period or (b) if requested by the Seller the Base Rate for such Settlement Period; provided, however, that the "Alternate Rate" for any day while a Termination Event exists shall be an interest rate equal to 2.00% per annum above the Base Rate in effect on such day.