Alternative Currency Base Rate means, with respect to any Alternative Currency Funding and any Interest Period, the rate per annum which appears on the applicable Telerate page as of approximately 11:00 a.m. London time on the date two Business Days before the commencement of such Interest Period as the rate at which deposits in the applicable Alternative Currency are offered to first-class banks in the London interbank market for funds to be made available on the first day of the applicable Interest Period in an amount approximately equal to the amount of such Alternative Currency Funding for a term substantially equivalent to the applicable Interest Period; provided, however, that if such Telerate page is no longer available, the Alternative Currency Base Rate shall be determined by the Agent on the basis of the offered rate on such other page or other service acceptable to the Required Lenders that displays an average British Bankers Association rate for deposits in the applicable Alternative Currency for funds to be made available on the first day of the applicable Interest Period in an amount approximately equal to the amount of such Alternative Currency Funding for a term substantially equivalent to the applicable Interest Period.
Alternative Currency Base Rate means the floating rate of interest established by the Lender from time to time as the quoted base rate for the Alternative Currency in which a particular Loan is denominated. Such rate of interest shall change simultaneously and automatically upon the Lender's designation of any change in such reference rate, and the Lender's determination and designation from time to time of the reference rate shall not in any way preclude the Lender from making loans to other borrowers which are higher or lower than or different from the referenced rate.</P> <P align="left" style="text-indent: 0; word-spacing: 0; margin: 0"> </P>
Alternative Currency Base Rate means the rate of interest in effect for such day as publicly announced from time to time by the Administrative Agent as its “Canadian Prime Rate”. The “Canadian Prime Rate” is a rate set by the Administrative Agent based upon various factors including the Administrative Agent’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such Canadian Prime Rate announced by the Administrative Agent shall take effect at the opening of business on the day specified in the public announcement of such change.
Examples of Alternative Currency Base Rate in a sentence
Each Swing Loan shall be an Alternative Currency Base Rate Loan or Base Rate Loan or if available, a Money Market Rate Loan, and except as otherwise provided in Section 2.12, shall bear interest for the account of the Swing Loan Lender until repaid in full at the rate per annum equal to the applicable Base Rate plus the Applicable Margin for Base Rate Loans or, if available and elected by the Borrower, the Money Market Rate.
More Definitions of Alternative Currency Base Rate
Alternative Currency Base Rate means, with respect to any Alternative Currency Funding, the rate per annum determined by the Agent to be the rate at which deposits in the applicable Alternative Currency are offered to first-class banks in the London interbank market at approximately 11:00 a.m. (London time) two LIBO Business Days prior to the beginning of the applicable Interest Period, for funds to be made available on the first day of the applicable Interest Period in an amount approximately equal to the amount of such Alternative Currency Funding and maturing at the end of the applicable Interest Period.