Alternative Interest Rate definition

Alternative Interest Rate means, for any day in any Interest Period with respect to any Loan, 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” for such day (or if such day is not a Business Day, the immediately prior Business Day).
Sample 1
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.
Sample 1Sample 2
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).
Sample 1

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.

  • 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.

  • 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 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.

  • 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.

  • It is hereby declared and agreed that in the event that the LIBOR Rate ceases to exist and/or to be published, the provisions of Section 12.2 of the Account Management booklet shall apply, and the Alternative Interest Rate shall replace the LIBOR Rate both in this document and in any document of the Bank (including the Terms and Conditions of Engagement as defined in Section 33.3 above).

  • 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 as determined in accordance with Section 8(l), as determined by the Lender in its reasonable discretion, the Alternative Interest Rate) for the applicable Interest Period plus the Spread.

  • All computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed except that interest computed by reference to the Alternative Interest Rate at times when the Alternative Interest Rate is based on the prime rate set forth therein shall be computed on the basis of a year of 365 days (or 366 days in a leap year).

  • An online recommendation system is a kind of recommendation source that has an impact on customer decisions, and isacknowledged as a type of WOM (Senecal & Nantel, 2004).


More Definitions of Alternative Interest Rate

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.
Sample 1
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.
Sample 1
Alternative Interest Rate means the Prime Rate plus 10% per annum.
Sample 1
Alternative Interest Rate means, for any day with respect to any Floating Rate Loan , 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); provided that in no event shall the Alternative Interest Rate be less than zero.
Sample 1
Alternative Interest Rate has the meaning given to that term in Clause 6.3(b).
Sample 1

Related to Alternative Interest Rate

  • Effective Interest Rate means the rate of interest per annum on the Loans in effect from time to time pursuant to the provisions of Section 3.1(a), (b) and (c).

  • Reserve Interest Rate With respect to any Interest Determination Date, the rate per annum that the Trustee determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/16%) of the one-month U.S. dollar lending rates which New York City banks selected by the Trustee are quoting on the relevant Interest Determination Date to the principal London offices of leading banks in the London interbank market or (ii) in the event that the Trustee can determine no such arithmetic mean, the lowest one-month U.S. dollar lending rate which New York City banks selected by the Trustee are quoting on such Interest Determination Date to leading European banks.

  • Reference Interest Rate means the following rate (expressed as a percentage rate per annum) for deposits in the currency of the Strike Price: the Reference Interest Rate specified in the Table which has been published on the screen page specified in the Table (the "Screen

  • Applicable Interest Rate means, (i) with respect to each Revolving Credit Advance and Term Loan Advance, the Eurodollar-based Rate or the Base Rate, and (ii) with respect to each Swing Line Advance, the Base Rate or, if made available to the Borrower by the Swing Line Lender at its option, the Quoted Rate, in each case as selected by the Borrower from time to time subject to the terms and conditions of this Agreement.

  • Base Interest Rate means a rate of interest based on the LIBOR-Rate. "Base Interest Rate Loan" means amounts outstanding under this note that bear interest at a Base Interest Rate. "Base Rate Maturity Date" means the last day of the Interest Period with respect to principal outstanding under a Base Interest Rate Loan. "Business Day" means a day on which Bank is open for business for the funding of corporate loans, and, with respect to the rate of interest based on the LIBOR Rate, on which dealings in U.S. dollar deposits outside of the United States may be carried on by Bank. "Interest Period" means with respect to funds bearing interest at a rate based on the LIBOR Rate, any calendar period of one, three, six, nine or twelve months. In determining an Interest Period, a month means a period that starts on one Business Day in a month and ends on and includes the day preceding the numerically corresponding day in the next month. For any month in which there is no such numerically corresponding day, then as to that month, such day shall be deemed to be the last calendar day of such month. Any Interest Period which would otherwise an on a non-Business Day shall end on the next succeeding Business Day unless that is the first day of a month, in which event such Interest Period shall end on the next preceding Business Day. "LIBOR Rate" means a per annum rate of interest (rounded upward, if necessary, to the nearest 1/100 of 1%) at which dollar deposits, in immediately available funds and in lawful money of the United Sates would be offered to Bank, outside of the United Sates, for a term coinciding with the Interest Period selected by Debtor and for an amount equal to the amount of principal covered by Debtors' interest rate selection, plus Bank's costs, including the costs, if any, of reserve requirements. "Origination Date" means the first day of the Interest Period. "Reference Rate" means the rate announced by Bank from time to time at its corporate headquarters as its Reference Rate. The Reference Rate is an index rate determined by Bank from time to time as a means of pricing certain extensions of credit and is neither directly tied to any external rate of interest or index nor necessarily the lowest rate of interest or index nor necessarily the lowest rate of interest charged by Bank at any given time.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Class E Interest Rate means 4.99% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A Interest Rate has the meaning assigned to such term in the Indenture.

  • Adjusted Interest Rate is defined in Section 1.2(e).

  • Component Interest Rate Not applicable.

  • Net Interest Rate means with respect to any Note, the Interest Rate for such Note minus the Servicing Fee Rate applicable to such Note.

  • Lower-Tier Interest Rate As described in the Preliminary Statement.

  • Class A-1 Interest Rate means 0.75000% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Capped Interest Rate is defined in the Note, if applicable.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Fixed Interest Rate means the annual interest rate of five and forty hundredths percent (5.40%).

  • Note Interest Rate means a per annum rate equal to 0.06% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

  • Reference Interest Rate Replacement Adjustment means the first alternative set forth in the order below that can be determined by the Issuer or its designee as of the Reference Interest Rate Replacement Date:

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Class B Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Interest Rate Determination Date means, with respect to any Interest Period, the date that is two Business Days prior to the first day of such Interest Period.

  • CB Floating Rate means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month LIBOR Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including the effective date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively.

  • LIBOR Interest Rate means, for each LIBOR Loan for the relevant Interest Period, the rate per annum (rounded upward, if necessary, to the nearest one-sixteenth of 1%) determined by the Agent to be equal to the quotient of (a) the London Interbank Offered Rate for such LIBOR Loan for such Interest Period divided by (b) one minus the Eurocurrency Reserve Requirement for such Interest Period.

  • Certificate Interest Rate With respect to each Class of Certificates and any Distribution Date, the applicable per annum rate set forth or described in the Preliminary Statement hereto.

  • Class C Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.