Cdn ABR definition

Cdn ABR means, for any day, a rate per annum equal to the higher of (a) the rate of interest per annum publicly announced from time to time by the Canadian Administrative Agent as its reference rate of interest then in effect for determining interest rates on commercial loans denominated in Dollars made by it in Canada and (b) the Federal Funds Effective Rate in effect on such day plus ½ of 1% per annum.
Sample 1Sample 2Sample 3
Cdn ABR means, for any day, a rate per annum equal to the highest of (a) the rate of interest per annum determined from time to time by the Canadian Administrative Agent as its reference rate of interest then in effect for determining interest rates on commercial loans denominated in Dollars made by it in Canada, (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1% and (c) the LIBOR Rate applicable for an Interest Period of one month commencing on such day plus 1%; provided that, solely for purposes of the foregoing, the LIBOR Rate for any day shall be based on the rate set forth on such day at approximately 11:00 a.m. (London time) by reference to the British Bankers’ Association Interest Settlement Rates for deposits in dollars (as set forth by any service selected by Administrative Agent that has been nominated by the British Bankers’ Association as an authorized vendor for the purpose of displaying such rates). If the Canadian Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable to ascertain the Federal Funds Effective Rate or the LIBOR Rate, as the case may be, for any reason, including the inability or failure of the Canadian Administrative Agent to obtain sufficient quotations in accordance with the terms of the definition thereof, the Cdn ABR shall be determined without regard to clause (b) or (c) as applicable of the preceding sentence until the circumstances giving rise to such inability no longer exist. Any change in the Cdn ABR due to a change in the reference rate referred to in clause (a), Federal Funds Effective Rate or the LIBOR Rate shall be effective as of the opening of business on the effective day of such change in the reference rate referred to in clause (a), the Federal Funds Effective Rate or the LIBOR Rate, as the case may be.
Sample 1
Cdn ABR means, for any day, a rate per annum equal to the higher of (a) the rate of interest per annum determined from time to time by the Canadian Administrative Agent as its reference rate of interest then in effect for determining interest rates on commercial loans denominated in Dollars made by it in Canada and (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%. If the Canadian Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable to ascertain the Federal Funds Effective Rate for any reason, including the inability or failure of the Canadian Administrative Agent to obtain sufficient quotations in accordance with the terms of the definition thereof, the Cdn ABR shall be determined without regard to clause (b) of the preceding sentence until the circumstances giving rise to such inability no longer exist. Any change in the Cdn ABR due to a change in the Canadian Administrative Agent’s reference rate or the Federal Funds Effective Rate shall be effective as of the opening of business on the effective day of such change in the Canadian Administrative Agent’s reference rate or the Federal Funds Effective Rate, respectively.
Sample 1

Examples of Cdn ABR in a sentence

  • Interest on (i) Canadian Prime Loans, (ii) ABR Loans in respect of which the rate of interest is calculated on the basis of the Prime Rate, (iii) Cdn ABR Loans in respect of which the rate of interest is calculated on the basis of the Canadian Administrative Agent’s reference rate and (iv) interest on overdue interest shall be calculated on the basis of a 365- (or 366-, as the case may be) day year for the actual days elapsed.

Related to Cdn ABR

  • Initial Term Lender means any Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Initial Term Loans means the term loans made by the Lenders on the Closing Date to the Borrower pursuant to Section 2.01(a).

  • Initial Term Loan shall have the meaning provided in Section 2.1(a).

  • Additional Term Lender means any Lender with an Additional Term Loan Commitment or an outstanding Additional Term Loan.

  • Additional Term Loans means any term loan added pursuant to Section 2.22, 2.23 or 9.02(c)(i).

  • Development Period Security shall have the meaning set forth in Section 6.1(a) hereof.

  • Research Program Term has the meaning set forth in Section 2.2.

  • Collaboration Target means the Initial Collaboration Targets set forth on Exhibit F and any Additional Target or Substitute Target that is selected in accordance with Section 3.3 of this Agreement.

  • Initial Term Loan Lender means a Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Total Initial Term Loan Commitment means the sum of the Initial Term Loan Commitments of all Lenders.

  • Acquisition Target means any Person becoming a Subsidiary of the Company after the date hereof; any Person that is merged into or consolidated with the Company or any Subsidiary of the Company after the date hereof; or any Person with respect to which all or a substantial part of that Person’s assets are acquired by the Company or any Subsidiary of the Company after the date hereof.

  • Additional Term Loan has the meaning specified in Section 2.01(c).

  • Original Term Loans means the "Term Loans" under, and as defined in, the Original Credit Agreement.

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

  • Change in Control Protection Period means the period commencing on the date a Change in Control occurs and ending on the first anniversary of such date.

  • Three-Month Term SOFR means the rate for Term SOFR for a tenor of three months that is published by the Term SOFR Administrator at the Reference Time for any Floating Interest Period, as determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions.

  • Automatic Route Selection or “ARS” means a service feature associated with a specific grouping of lines that provides for automatic selection of the least expensive or most appropriate transmission facility for each call based on criteria programmed into the system.

  • Initial Term Commitment means, as to each Term Lender, its obligation to make an Initial Term Loan to the Borrowers pursuant to Section 2.01(a) in an aggregate amount not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 (as in effect on the Closing Date) under the caption “Initial Term Commitment,” as such amount may be adjusted from time to time in accordance with this Agreement. The initial aggregate amount of the Initial Term Commitments is $350,000,000.

  • Swingline Termination Date means the date which is 7 Business Days prior to the Termination Date.

  • Research Term has the meaning set forth in Section 3.2.

  • Three-Month Term SOFR Conventions means any determination, decision or election with respect to any technical, administrative or operational matter (including with respect to the manner and timing of the publication of Three-Month Term SOFR, or changes to the definition of “Floating Interest Period”, timing and frequency of determining Three-Month Term SOFR with respect to each Floating Interest Period and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Company decides may be appropriate to reflect the use of Three-Month Term SOFR as the Benchmark in a manner substantially consistent with market practice (or, if the Company decides that adoption of any portion of such market practice is not administratively feasible or if the Company determines that no market practice for the use of Three-Month Term SOFR exists, in such other manner as the Company determines is reasonably necessary).

  • Development Period means the period from the date of this Agreement until the Appointed Date;