Corporate Rate definition

Corporate Rate means, for any day, a fluctuating interest rate per -------------- annum equal to the weekly average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers for each seven-day period ending on Wednesday of each week which includes such day, as published in Statistical Release H.15 by the Federal Reserve System, or, if such rate is not so published for any week, the average of the quotations for such day on such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by the Administrative Agent.
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Examples of Corporate Rate in a sentence

  • If any Lender does not pay any amount which it is required to pay to First Union, First Union shall be entitled to recover such amount on demand from such Lender, together with interest thereon, at the Applicable Corporate Rate, for each day from the date of such demand, if made prior to 2:00 p.m. (Charlotte, North Carolina time) on any Business Day, or, if made after 2:00 p.m. from the next Business Day following the date of such demand, until the date such amount is paid to First Union by such Lender.

  • The Companies may elect from time to time to convert Corporate Rate Loans to Eurodollar Loans by giving the Administrative Agent at least two Eurodollar Business Days' prior irrevocable notice of such election.

  • If such notice is given: (1) no Loan may be funded as a Eurodollar Loan, (2) any Loan that was to have been converted to a Eurodollar Loan shall, subject to the provisions hereof, be continued as a Corporate Rate Loan and (3) any outstanding Eurodollar Loan shall be converted on the last day of the then current Interest Period with respect thereto to a Corporate Rate Loan.

  • The applicable Lenders shall make available the amount of their respective Percentage Shares of the proposed Corporate Rate Loan by crediting the amount thereof in immediately available same day funds to the Funding Account no later than 3:30 p.m. (Charlotte, North Carolina time) on such date.

  • Any Obligations not paid when due ---------------------- (whether at stated maturity, upon acceleration or otherwise) shall bear interest from the date due until paid in full at a per annum rate equal to four percent (4%) above the interest rate otherwise applicable thereto or if such Obligations do not otherwise bear interest, four percent (4%) above the Applicable Corporate Rate.

  • No Corporate Rate Loan shall be converted into a Eurodollar Loan if an Event of Default or Potential Default has occurred and is continuing on the day occurring two Eurodollar Business Days prior to the date of the conversion requested by the Companies or on the date of conversion.

  • Scandinavian Airlines (SK) SAS Business / SAS Plus 2% Scandinavian Airlines (SK) SAS Go 1% Scandinavian Airlines (SK) SAS Business / SAS Plus 6% Scandinavian Airlines (SK) SAS Go 2% Corporate Discount fares have a farebase code ending with CR, where CR indicates Corporate Rate.

  • Scandinavian Airlines (SK) SAS Business / SAS Plus 2% Singapore Airlines (SQ) Business / Premium Economy Scandinavian Airlines (SK) SAS Go 1% Singapore Airlines (SQ) Economy Scandinavian Airlines (SK) SAS Business / SAS Plus 6% Singapore Airlines (SQ) Business / Premium Economy Scandinavian Airlines (SK) SAS Go 2% Singapore Airlines (SQ) Economy Corporate Discount fares have a farebase code ending with CR, where CR indicates Corporate Rate.

  • If subsequently the Administrative Agent determines that the cause of such illegality has ceased to exist, the Administrative Agent will so advise the Companies by facsimile notice and the Companies may convert such Corporate Rate Loans to Eurodollar Loans or request that any Loan be funded as a Eurodollar Loan as provided in Paragraph 7(j) below.

  • All Tranche C Loans shall bear interest at the ------------- Applicable Corporate Rate, unless the Companies elect to have a Tranche C Loan bear interest at (i) the Applicable Eurodollar Rate as permitted herein or (ii) an interest rate established pursuant to Paragraph 7(u) below.

Related to Corporate Rate

  • Alternate Rate is a rate of interest per annum five percent (5%) in excess of the applicable Effective Rate in effect from time to time.

  • Central Bank Rate Adjustment has the meaning given to that term in the Reference Rate Terms.

  • Reference Rate means the rate specified as such hereon.

  • Note Rate means, in the case of the Class A-1 Notes, the Class A-1 Rate; in the case of the Class A-2a Notes, the Class A-2a Rate; in the case of the Class A-2b Notes, the Class A-2b Rate; in the case of the Class A-3 Notes, the Class A-3 Rate; in the case of the Class A-4 Notes, the Class A-4 Rate; in the case of the Class B Notes, the Class B Rate; in the case of the Class C Notes, the Class C Rate; and in the case of the Class D Notes, the Class D Rate.

  • Eurocurrency Base Rate means, for such Interest Period: