Alternative Interest Rate definition

Alternative Interest Rate means, for any day with respect to any Loan, the Federal Funds Rate in effect for such day (or if such day is not a Business Day, the immediately prior Business Day) (as determined by the Agent).

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Alternative Interest Rate means the rate of interest payable with respect to the Term Loan, which shall be equal to Base Rate plus one and three quarters percent (1.750%) per annum.

Alternative Interest Rate means, for any day in any Interest Period with respect to any Loan, the rate determined by the Agent in its reasonable discretion (provided that prior notice of such determination be given to the Borrower) equal to the higher of (A) the Federal Funds Rate in effect for such day (or if such day is not a Business Day, the immediately prior Business Day) (as determined by the Agent) plus 1/2 of 1% and (B) the "prime rate" as quoted by Bloomberg L.P. in its "PRIMBB Index" (or any successor or replacement index) for such day (or if such day is not a Business Day, the immediately prior Business Day).

Examples of Alternative Interest Rate in a sentence

Notwithstanding the foregoing, this Section 2.16 will not apply to losses, costs or expenses resulting from (i) the revocation by the Borrower of a Borrowing Request pursuant to Section 1.18 (to the extent applicable) or Section 2.14(a) or the occurrence of any Alternative Interest Rate Election Event and (ii) Taxes, as to which Section 2.17 shall govern.
Notwithstanding anything to the contrary contained in this Section 10.01, the Administrative Agent and the Lead Borrower shall be permitted to amend this Agreement in the event of an Alternative Interest Rate Election Event in accordance with Section 3.03(b).
Notwithstanding the foregoing, this Section 2.16 will not apply to losses, costs or expenses resulting from (i) the revocation by the Borrowers of a Borrowing Request pursuant to Section 2.14(a) or the occurrence of any Alternative Interest Rate Election Event and (ii) Taxes, as to which Section 2.17 shall govern.
If the Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for the Lender to make, maintain or fund Loans, or to determine or charge interest rates, in each case, based upon the Applicable LIBOR Rate, until the Lender determines that the foregoing events no longer apply, the Applicable LIBOR Rate shall be deemed to be equal to the Alternative Interest Rate.
Each Loan shall bear interest on the outstanding principal amount thereof for each day at a rate per annum equal to the Applicable LIBOR Rate (or, if not available, the Alternative Interest Rate) for the applicable Interest Period plus the Spread.
If at any time the Lender, in its reasonable discretion, determines that (i) adequate and reasonable means do not exist for determining the Applicable LIBOR Rate, or (ii) the Applicable LIBOR Rate does not accurately reflect the funding cost to the Lender of making such Loans, all references to the Applicable LIBOR Rate shall be deemed to be to the Alternative Interest Rate for the period during which such circumstance exists.
Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a Loan to be made during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of Loans determined using the Alternative Interest Rate.
All Revolving Credit Loans as to which the Alternative Interest Rate is a Libor Based Rate outstanding as of the date of this Fourth Amendment are listed on Schedule A attached hereto and made part hereof (hereinafter collectively called the "Existing Libor Loans").
If at any time the Lender determines (i) in good faith and in a commercially reasonable manner that adequate and reasonable means do not exist for determining the Applicable LIBOR Rate, or (ii) in its sole discretion that the Applicable LIBOR Rate does not accurately reflect the funding cost to the Lender of making such Loans, all references to the Applicable LIBOR Rate shall be deemed to be to the Alternative Interest Rate for the period during which such circumstance exists.
If at any time the Lender, in its sole discretion, determines that (i) adequate and reasonable means do not exist for determining the Applicable LIBOR Rate, or (ii) the Applicable LIBOR Rate does not accurately reflect the funding cost to the Lender of making such Loans, all references to the Applicable LIBOR Rate shall be deemed to be to the Alternative Interest Rate for the period during which such circumstance exists.

More Definitions of Alternative Interest Rate

Alternative Interest Rate has the meaning given to that term in Clause 6.3(b).

Alternative Interest Rate means, as of any date of determination, to the extent that any Obligor borrows money or guarantees obligations under any Alternative Facility on a secured basis, the highest interest rate payable under any such Alternative Facility as of such date as agreed by the Principal Holder and the Issuer.

Alternative Interest Rate means the Prime Rate plus 10% per annum.

Alternative Interest Rate means the aggregate of (i) the rate the Lender selects from whatever sources available to it (which selection shall be conclusive, final and binding on the Borrowers without prejudice to the other provisions of Clause 4), including but not limited to rates provided through broker’s quotes to be the interest rate on the Loan during the Disruption Period and (ii) the Margin.