Daily Simple XXXXX means, for any calendar day (an “RFR Rate Day”), a rate per annum equal to Spread Adjusted XXXXX for the day (such day “i”) that is five Business Days prior to (A) if such RFR Rate Day is a Business Day, such RFR Rate Day or (B) if such RFR Rate Day is not a Business Day, the Business Day immediately preceding such RFR Rate Day, in each case, as such XXXXX is published by the XXXXX Administrator on the XXXXX Administrator’s Website. If by 5:00 P.M. (London time) on the second Business Day immediately following any day “i”, XXXXX in respect of such day “i” has not been published on the XXXXX Administrator’s Website and a Benchmark Replacement Date with respect to XXXXX has not occurred, then XXXXX for such day “i” will be XXXXX as published in respect of the first preceding Business Day for which XXXXX was published on the XXXXX Administrator’s Website; provided that XXXXX as determined pursuant to this sentence shall be utilized for purposes of calculation of Daily Simple XXXXX for no more than ten consecutive RFR Rate Days (in which case it will be deemed to have become “impractical” for all Banks to determine interest rates based on XXXXX). Any change in Daily Simple XXXXX due to a change in XXXXX shall be effective from and including the effective date of such change in XXXXX without notice to Borrower. Notwithstanding the foregoing, if Daily Simple XXXXX as determined under any method above would be less than zero (0.00), such rate shall be deemed to be zero (0.00) for purposes of this Agreement.
Daily Simple XXXXX for any day (a “XXXXX Rate Day”), a rate per annum equal to XXXXX for the day (such day “XXXXX Determination Date”) that is five (5) Business Days prior to (i) if such XXXXX Rate Day is a Business Day, such XXXXX Rate Day or (ii) if such XXXXX Rate Day is not an Business Day, the Business Day immediately preceding such XXXXX Rate Day, in each case, as such XXXXX is published by the XXXXX Administrator on the XXXXX Administrator’s website. Any change in Daily Simple XXXXX due to a change in XXXXX shall be effective from and including the effective date of such change in XXXXX without notice to the Borrower. If by 5:00 p.m. (Toronto time) on any given XXXXX Determination Date, XXXXX in respect of such XXXXX Determination Date has not been published on the XXXXX Administrator’s website and a Benchmark Replacement Date with respect to the Daily Simple XXXXX has not occurred, then XXXXX for such XXXXX Determination Date will be XXXXX as published in respect of the first preceding Business Day for which such XXXXX was published on the XXXXX Administrator’s website, so long as such first preceding Business Day is not more than five (5) Business Days prior to such XXXXX Determination Day.
Daily Simple XXXXX means, for any day (a “XXXXX Interest Day”), a rate per annum equal to the greater of (a) XXXXX for the day that is five XXXXX Business Days prior to (A) if such XXXXX Interest Day is a XXXXX Business Day, such XXXXX Interest Day or (B) if such XXXXX Interest Day is not a XXXXX Business Day, the XXXXX Business Day immediately preceding such XXXXX Interest Day and (b) zero.
Examples of Daily Simple XXXXX in a sentence
If the Canadian Benchmark Replacement is Daily Simple XXXXX, all interest payments will be payable on a monthly basis.
More Definitions of Daily Simple XXXXX
Daily Simple XXXXX means the rate per annum equal to XXXXX determined for any day pursuant to the definition thereof. Any change in Daily Simple XXXXX shall be effective from and including the date of such change without further notice. If the rate as so determined would be less than zero, such rate shall be determined to be zero for purposes of this Agreement.
Daily Simple XXXXX means, for any day, an interest rate per annum equal to XXXXX for the day that is five Business Days prior to (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 3.26 basis points (0.0326%); provided that if such rate as determined above is less than zero, such rate shall be deemed to be zero. If by 5:00 pm (London time) on the second Business Day immediately following any day “i”, the XXXXX in respect of such day “i” has not been published on the XXXXX Administrator’s Website and a Benchmark Replacement Date (as defined in Section 2.20(j) with respect to the Daily Simple XXXXX has not occurred, then the XXXXX for such day “i” will be the XXXXX as published in respect of the first preceding Business Day for which such XXXXX was published on the XXXXX Administrator’s Website; provided that any XXXXX determined pursuant to this sentence shall be utilized for purposes of calculation of Daily Simple XXXXX for no more than three consecutive Business Days. Any change in Daily Simple XXXXX due to a change in XXXXX shall be effective from and including the effective date of such change in XXXXX without notice to the Borrower.
Daily Simple XXXXX means, for any day, XXXXX for the day that is the fifth Business Day in London England prior to (A) if the relevant date of such setting is a Business Day in London England, such date of setting or (B) if the relevant date of such setting is not a Business Day in London England, the Business Day in London England immediately preceding such date of setting; provided that, if the Facility Agent decides that any such convention is not administratively feasible for the Facility Agent, then the Facility Agent may establish another convention with the consent of the Borrower (not to be unreasonably withheld).
Daily Simple XXXXX means, for each day during any Calculation Period, XXXXX, 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 XXXXX" 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 XXXXX 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 XXXXX as calculated for any purpose under this Agreement is below zero percent, Daily Simple XXXXX will be deemed to be zero percent for such purpose until such time as it exceeds zero percent again.
Daily Simple XXXXX means, for any day, XXXXX, with the conventions for this rate (which will include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple XXXXX” for business loans; provided that, if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion.
Daily Simple XXXXX means, for each day during any Calculation Period, XXXXX, 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 XXXXX" for business loans, as determined for such day at approximately 11:00 a.m., London time, on the immediately preceding Business Day. Notwithstanding anything in the foregoing to the contrary, if Daily Simple XXXXX as calculated for any purpose under this Agreement is below zero percent, Daily Simple XXXXX will be deemed to be zero percent for such purpose until such time as it exceeds zero percent again.
Daily Simple XXXXX means, for any RFR Loan denominated in Sterling, for any day (an “RFR Interest Day”), an interest rate per annum equal to the greater of (a) XXXXX for the day that is five (5) RFR Business Days prior to (A) if such RFR Interest Day is an RFR Business Day, such RFR Interest Day or (B) if such RFR Interest Day is not an RFR Business Day, the RFR Business Day immediately preceding such RFR Interest Day and (b) zero. Any change in Daily Simple XXXXX due to a change in the applicable RFR shall be effective from and including the effective date of such change in the RFR without notice to the Borrower.