Daily Simple SXXXX means, for any day (a “SXXXX Xxxx Xxx”), an interest rate per annum equal to, for any SXXXX Xxxx, SXXXX for the day (the “SXXXX Reference Day”) that is five Business Days prior to (a) if such SXXXX Xxxx Day is a Business Day, such SXXXX Xxxx Day or (b) if such SXXXX Xxxx Day is not a Business Day, the Business Day immediately preceding such SXXXX Xxxx Xxx, in each case, as such SXXXX is published by the SXXXX Administrator on the SXXXX Administrator’s Website; provided that, if the Daily Simple SXXXX shall be less than 0.00%, such rate shall be deemed to be 0.00%. If by 5:00 pm, London time, on the second Business Day immediately following any SXXXX Reference Day, SXXXX in respect of such SXXXX Reference Day has not been published on the SXXXX Administrator’s Website and a Benchmark Replacement Date with respect to the Daily Simple SXXXX has not occurred, then SXXXX for such SXXXX Reference Day will be SXXXX as published in respect of the first preceding Business Day for which SXXXX was published on the SXXXX Administrator’s Website; provided that SXXXX as determined pursuant to this sentence shall be utilized for purposes of calculating the Daily Simple SXXXX for no more than three consecutive SXXXX Rate Days. Any change in the Daily Simple SXXXX due to a change in SXXXX shall be effective from and including the effective date of such change in SXXXX without notice to the Borrower.
Daily Simple SXXXX means, for any day (a “SXXXX Interest Day”), a rate per annum equal to the greater of (a) SXXXX for the day that is five SXXXX Business Days prior to (A) if such SXXXX Interest Day is a SXXXX Business Day, such SXXXX Interest Day or (B) if such SXXXX Interest Day is not a SXXXX Business Day, the SXXXX Business Day immediately preceding such SXXXX Interest Day and (b) zero.
Daily Simple SXXXX means, for any day (a “SXXXX Interest Day”), an interest rate per annum equal to the greater of (a) (x) SXXXX for the day that is 5 SXXXX Business Days prior to (A) if such SXXXX Interest Day is a SXXXX Business Day, such SXXXX Interest Day or (B) if such SXXXX Interest Day is not a SXXXX Business Day, the SXXXX Business Day immediately preceding such SXXXX Interest Day (such SXXXX Business Day determined pursuant to each of subclauses (A) and (B), the “SXXXX Lookback Day”), (y) if SXXXX is not available for the SXXXX Lookback Day determined pursuant to clause (x) above, if by 5:00 p.m., London time, on the second (2nd) Business Day immediately following any day “i”, SXXXX in respect of such day “i” has not been published on the SXXXX Administrator’s Website, then SXXXX for such day “i” will be SXXXX as published in respect of the first preceding Business Day for which SXXXX was published on the SXXXX Administrator’s Website (provided that SXXXX determined pursuant to this clause (y) shall be utilized for purposes of calculation of Daily Simple SXXXX for no more than three (3) consecutive SXXXX Interest Days) or (z) if SXXXX has been determined pursuant to clause (y) above for three (3) consecutive SXXXX Interest Days and SXXXX remains unavailable for the relevant SXXXX Lookback Day, SXXXX shall be (1) the percentage rate per annum which is the aggregate of (I) the GBP CBR for such SXXXX Lookback Day and (II) the GBP Central Bank Rate Adjustment or (2) if clause (z)(1) applies but the SXXXX CBR for the applicable SXXXX Lookback Day is not available, the Daily Simple SXXXX for such SXXXX Lookback Day shall be the percentage rate per annum which is the aggregate of (I) the most recent GBP CBR for an SXXXX Business Day which is no more than five SXXXX Business Days before that SXXXX Lookback Day and (II) the GBP Central Bank Adjustment and (b) 0%.
Examples of Daily Simple SXXXX in a sentence
Governing Law; Jurisdiction; Consent to Service of Process 114 Section 13.18.
The Loans comprising each (i) Base Rate Borrowing shall bear interest at a rate per annum equal to the Base Rate plus the Applicable Margin, and (ii) SXXXX Borrowing shall bear interest at a rate per annum equal to Daily Simple SXXXX plus the Applicable Margin.
The applicable Base Rate, Daily Simple SXXXX or Adjusted LIBO Rate shall be determined by Administrative Agent, and such determination shall be conclusive absent manifest error.
Thereafter, until each affected Lxxxxx notifies the Administrative Agent and the Administrative Agent notifies the Borrower that the circumstances giving rise to such determination no longer exist, any obligation of such Lender to make SXXXX Loans shall be suspended, and such Loans shall instead be made at a rate equal to the Daily Simple SXXXX Rate for the date upon which the Illegality Notice was delivered plus the Applicable Margin.
All outstanding French Swingline Loans to the French Borrowers shall bear interest on the unpaid principal amount thereof (including, to the extent permitted by law, on interest thereon not paid when due) from the date made until paid in full in cash at a rate determined by reference to the Foreign Base Rate or, the LIBOR Rate or Daily Simple SXXXX, as applicable, plus the Applicable Margin, but not to exceed the Maximum Rate.
More Definitions of Daily Simple SXXXX
Daily Simple SXXXX means, for any Business Day, SXXXX, as shown on the Reuters Screen (or any applicable successor thereto) with the conventions for this rate (which on any day shall be the daily rate that includes a five Business Day lookback period prior to such day) being established by the Facility Agent, with the consent of the Servicer, in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SXXXX” for business loans or conventions that are otherwise used in the United States syndicated lending market for syndicated loans denominated in GBP; provided that, in the event no such rate is shown, Daily Simple SXXXX shall be a comparable or successor rate as published on the applicable Reuters Screen page (or on the appropriate page of such other information service which publishes that rate from time to time in place thereof) as of 11:00 a.m. (London time) two (2) Business Days prior to the first day of such Accrual Period.
Daily Simple SXXXX means, for any day (a “SXXXX Interest Day”), an interest rate per annum equal to the greater of:
Daily Simple SXXXX means, for any day, an interest rate per annum equal to SXXXX for (a) if such day is a Business Day, such day or (b) if such day is not a Business Day, the Business Day immediately preceding such day, in each case plus 0.05%; provided that if such rate as determined above is less than zero, such rate shall be deemed to be zero. Any change in Daily Simple SXXXX due to a change in SXXXX shall be effective from and including the effective date of such change in SXXXX without notice to the Borrowers.
Daily Simple SXXXX means, for any day, the higher of (a) SXXXX, with the conventions for this rate (which will include a lookback) being established by the Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SXXXX” for business loans; provided, that if the Agent decides that any such convention is not administratively feasible for the Agent, then the Agent may establish another convention in its reasonable discretion and (b) the Floor.
Daily Simple SXXXX means, for each day during any Calculation Period, SXXXX, with the conventions for this rate (which may include a lookback) being established by the Administrative Agent in consultation with the Company in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining "Daily Simple SXXXX" for business loans, as determined for such day at approximately 11:00 a.m., London time, on the immediately preceding Business Day. If such rate is not available at such time for any reason, then Daily Simple SXXXX for such day shall be the rate (which shall not be less than zero) at which GBP deposits in an amount corresponding to the amount of such Advance are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market. Notwithstanding anything in the foregoing to the contrary, if Daily Simple SXXXX as calculated for any purpose under this Agreement is below zero percent, Daily Simple SXXXX will be deemed to be zero percent for such purpose until such time as it exceeds zero percent again.
Daily Simple SXXXX shall be a comparable successor rate per annum reasonably determined by the Borrower and the Administrative Agent (each acting reasonably) that is, at such time, generally accepted by the syndicated loan market for loans denominated in Sterling in lieu of “SXXXX” and approved by the Revolving Credit Lenders; provided, that the Revolving Credit Lenders shall be deemed to have approved such successor rate if the Required Revolving Lenders have not objected in writing thereto within five Business Days of receipt of notice thereof (notwithstanding anything in Section 9.02 to the contrary). It is understood and agreed that Daily Simple SXXXX constitutes the comparable successor rate determined by the Borrower and the Administrative Agent and approved by the Revolving Credit Lenders in accordance with clause (b) of the definition of “Sterling LIBO Rate”.
Daily Simple SXXXX shall have the meaning found in the definition of “Daily Simple RFR.”