Euro Swing Rate definition
Euro Swing Rate means, for any day with respect to each Euro Swing Loan, the rate per annum equal to the greater of (a) the Overnight Rate and (b) the Daily Floating One Month Rate.
Euro Swing Rate means, with respect to each Euro Swing Loan, the rate per annum (rounded upward to the nearest 1/16 of 1%) at which deposits in Euros are offered by Bank of America, as the Euro Swing Lender, to prime banks in the London interbank market, at or about the later of 11:00 a.m. (London time) or such time as the applicable Swing Loan Borrowing Notice is received on the Business Day of the applicable Euro Swing Loan for the relevant period of such Euro Swing Loan, plus (a) applicable reserve costs and (b) the applicable Mandatory Cost Rate for such Euro Swing Loan; provided that, if such rate per annum is unavailable or cannot be determined by Bank of America, as the Euro Swing Lender, “Euro Swing Rate” means, with respect to each Euro Swing Loan, the cost of funds to Bank of America’s London branch with respect to such Euro Swing Loan on such Business Day, expressed as a rate of interest per annum, plus (i) applicable reserve costs and (ii) the applicable Mandatory Cost Rate for such Euro Swing Loan.
Euro Swing Rate means, with respect to each Euro Swing Loan, the cost of funds to Bank of America’s London branch with respect to such Euro Swing Loan on such Business Day, expressed as a rate of interest per annum, plus (i) applicable reserve costs and (ii) the applicable Mandatory Cost Rate for such Euro Swing Loan.
More Definitions of Euro Swing Rate
Euro Swing Rate means with respect to each Swingline Loan denominated in Euros, the rate per annum equal to the rate on overnight Euro deposits in the London interbank market as such rates are quoted on Dow ▇▇▇▇▇ Markets (Telerate) Page 3750 (or any successor page) or, if such rate is not available, the overnight rate in effect as quoted by the Swingline Lender at its principal office in London, in each case, plus (i) applicable reserve costs and (ii) the applicable Associated Cost Rate for such Euro-denominated Swingline Loans, provided, that in the event the Swingline Lender has made any determination pursuant to Section 1.11(a)(i) in respect of Euro-denominated Swingline Loans, or in the circumstances described in clause (i) to the proviso to Section 1.11(b) in respect of Euro denominated Swingline Loans, the Euro Swing Rate determined pursuant to this definition shall instead be the rate determined by the Swingline Lender as the all-in-cost of funds for the Swingline Lender to fund such Euro denominated Swingline Loan.