Alternative Currency Daily Rate Advance definition

Alternative Currency Daily Rate Advance means an Advance that bears interest at a rate based on the definition of “Alternative Currency Daily Rate”. All Alternative Currency Daily Rate Advances must be denominated in an Alternative Currency.
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Alternative Currency Daily Rate Advance means a Loan or an Advance that bears interest at a daily rate based on the definition of “Alternative Currency Daily Rate” in an amount not less than the Alternative Currency Daily Rate Borrowing Minimum or the Alternative Currency Daily Rate Borrowing Multiple in excess thereof. All Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.
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Alternative Currency Daily Rate Advance means a Revolving Credit Advance denominated in Sterling that bears interest as provided in Section 2.08(a)(i)(C).
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Examples of Alternative Currency Daily Rate Advance in a sentence

  • If such Advance is an Alternative Currency Daily Rate Advance, a rate per annum equal at all times to the sum of (x) the applicable Alternative Currency Daily Rate in effect from time to time plus (y) the respective Applicable Margin in effect from time to time, payable quarterly on the first day of each February, May, August and November.

  • During such periods as such Revolving Credit Advance is an Alternative Currency Daily Rate Advance, a rate per annum equal at all times to the sum of (x) the Alternative Currency Daily Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears monthly on the last Business Day of each month during such periods and on the date such Alternative Currency Daily Rate Advance shall be Converted or paid in full.

  • Subject to the terms and conditions set forth herein, each Sterling Term A Lender severally agrees to make a single Alternative Currency Daily Rate Advance to the Sterling Borrower on the Closing Date, denominated in Sterling, in an amount not to exceed such Sterling Term A Lender’s respective Sterling Term A Commitment, as set forth on Schedule I.

  • Interest accrued on each (i) Base Rate Advance or Alternative Currency Daily Rate Advance shall be payable on each Payment Date and (ii) other Advance shall be payable on the last day of its applicable Interest Period, and on any date on which such Advance is prepaid, whether due to acceleration or otherwise.

  • In the case of a Term SOFR Advance, Alternative Currency Daily Rate Advance or Alternative Currency Term Rate Advance not paid at maturity, whether by acceleration or otherwise, such Advance shall bear interest at a rate per annum equal to the interest rate (including any Applicable Margin) otherwise applicable to such Advance plus 2% per annum to the fullest extent permitted by applicable Laws.

  • Any Advance may be a Base Rate Advance, a Same Day Dollar Advance, an Alternative Currency Daily Rate Advance, or a Term Rate Advance or in the case of a Tranche B Advance, a Tranche B Same Day Multi-Currency Advance, or a combination thereof, selected by the applicable Borrower in accordance with Sections 2.7 and 2.8.

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  • Subject to the terms and conditions set forth herein, each Sterling Term A Lender severally agrees to make a single Alternative Currency Daily Rate Advance to the Sterling Borrower on the Closing Date, denominated in AMERICAS/2024254939.6 68 Sealed Air – 4th A&R Syndicated Facility Agt Xxxxxxxx, in an amount not to exceed such Sterling Term A Lender’s respective Sterling Term A Commitment, as set forth on Schedule I.

  • Interest accrued on each Alternative Currency Daily Rate Advance or Tranche B Same Day Multi-Currency Advance denominated in Sterling shall be payable by the applicable Borrower on each Interest Payment Date, commencing with the first such date to occur after the date hereof, on any date on which such Advance is prepaid, whether due to acceleration or otherwise, and at maturity.

  • The applicable Borrower shall select the Class and Type of Advance and, in the case of each Term Rate Advance, Alternative Currency Daily Rate Advance or Tranche B Same Day Multi-Currency Advance, the Agreed Currency and in the case of each Term Rate Advance, the Interest Period applicable thereto from time to time.


More Definitions of Alternative Currency Daily Rate Advance

Alternative Currency Daily Rate Advance means an Advance that bears interest at a rate based on the definition of “Alternative Currency Daily Rate”. All Alternative Currency Daily Rate Advances must be denominated in an Alternative Currency. “Alternative Currency Equivalent” means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Agent or the applicable Issuing Bank, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars. “Alternative Currency Sublimit” means (x) with respect to Alternative Currencies other than Canadian Dollars, an amount equal to the lesser of the Revolving Credit Commitments and $250,000,000 and (y) with respect to Alternative Currencies including Canadian Dollars, an amount equal to the lesser of the Revolving Credit Commitments and $400,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the Revolving Credit Commitments. “Alternative Currency Term Rate” shall mean, for any Interest Period, with respect to any Advance: (a) denominated in Euros, the rate per annum equal to the Euro Interbank Offered Rate (“EURIBOR”), as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Agent from time to time) on the day that is two (2) TARGET Days preceding the first day of such Interest Period with a term equivalent to such Interest Period; (b) denominated in Yen, the rate per annum equal to the Tokyo Interbank Offer Rate (“TIBOR”), as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Agent from time to time) on the day that is two (2) Business Days preceding the first day of such Interest Period with a term equivalent to such Interest Period; or (c) denominated in any other Alternative Currency (to the extent such Advance denominated in such currency will bear interest at a term rate, but not including, for the avoidance of doubt, Credit Extensions denominated in Canadian Dollars), the term rate per annum as designated with respect to such Alternative Currency at the time such Alternative Currency is approved by the Agent and the relevant Lenders and Issuing Banks, plus the adjustment (if any) determined by the Agent and the relevant Lenders and...
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Alternative Currency Daily Rate Advance or “Alternative Currency Daily Rate Loan” means a Revolving Loan that bears interest at a rate based on the definition of “Alternative Currency Daily Rate.” All Alternative Currency Daily Rate Advances and Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.
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Related to Alternative Currency Daily Rate Advance

  • Alternative Currency Daily Rate Loan means a Committed Loan that bears interest at a rate based on the definition of “Alternative Currency Daily Rate.” All Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.

  • Alternative Currency Daily Rate means, for any day, with respect to any Credit Extension:

  • Alternative Currency Term Rate Loan means a Committed Loan that bears interest at a rate based on the definition of “Alternative Currency Term Rate.” All Alternative Currency Term Rate Loans must be denominated in an Alternative Currency.

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Alternative Currency Loan means an Alternative Currency Daily Rate Loan or an Alternative Currency Term Rate Loan, as applicable.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Alternative Currency means each of Euro, Sterling, Yen and each other currency (other than Dollars) that is approved in accordance with Section 1.06.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • Alternative Currency Term Rate means, for any Interest Period, with respect to any Credit Extension:

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • Alternate Currency Loan means any Loan denominated in an Alternate Currency.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • LIBO Rate Advances means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Money Market Absolute Rate Loan means a loan to be made by a Bank pursuant to an Absolute Rate Auction.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Eurocurrency Rate.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Alternate Currency means (i) with respect to any Letter of Credit, Canadian Dollars, Euros, Pound Sterling, New Zealand Dollars and Australian Dollars and any other currency other than Dollars as may be acceptable to the Administrative Agent and the Issuing Bank with respect thereto in their sole discretion and (ii) with respect to any Loan, any currency other than Dollars that is approved in accordance with Section 1.05.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.