EUROCURRENCY RESERVE definition

EUROCURRENCY RESERVE. REQUIREMENT: for any day, as applied to any Loan bearing interest in relation to the LIBOR Rate, the aggregate (without duplication) of the rates (expressed as a decimal fraction) of the maximum reserve percentages in effect on such day (including, without limitation, basic, supplemental, marginal and emergency reserves under any regulations of the Board of Governors of the Federal Reserve System or other Governmental Authority having jurisdiction with respect thereto) dealing with reserve requirements proscribed for eurocurrency funding (currently referred to as "Eurocurrency liabilities" in Regulation D of such Board) and required to be maintained by a member bank of such system.
Sample 1Sample 2Sample 3
EUROCURRENCY RESERVE. REQUIREMENTS shall mean for any day, as applied to a LIBOR Loan, the aggregate (without duplication) of the maximum rates of reserve requirement (expressed as a decimal fraction) in effect with respect to the Agent or any Lender on such day (including, without limitation, basic, supplemental, marginal and emergency reserves under Regulation D or any other applicable regulations of the Board of Governors of the Federal Reserve System or other governmental authority having jurisdiction with respect thereto, as now and from time to time in effect, dealing with reserve requirements prescribed for Eurocurrency funding (currently referred to as "Eurocurrency Liabilities" in Regulation D of such Board) maintained by the Agent or any Lender (such rates to be adjusted to the nearest one-sixteenth of one percent (1/16 of 1%) or, if there is not a nearest one-sixteenth of one percent (1/16 of 1%), to the next higher one sixteenth of one percent (1/16 of 1%). EVENT(s) OF DEFAULT shall have the meaning given to such term in Section 8.1 of this Financing Agreement. EXISTING DEPOSITORY ACCOUNTS shall have the meaning given to such term in Section 2.1(h) of this Financing Agreement.
Sample 1
EUROCURRENCY RESERVE. REQUIREMENTS shall mean, for any day as applied to a Revolving Loan or any Term Loan, the aggregate (without duplication) of the rates (expressed as a decimal) of reserve requirements in effect with respect to The Chase Manhattan Bank on such day (including, without limitation, basic, supplemental, marginal and emergency reserves under any regulations of the Board of Governors of the Federal Reserve System or other Governmental Authority having jurisdiction with respect thereto), dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as "Eurocurrency Liabilities" in Regulation D of such Board) maintained by The Chase Manhattan Bank.
Sample 1

Examples of EUROCURRENCY RESERVE in a sentence

  • FOR ANY INTEREST PERIOD WITH RESPECT TO A LIBOR RATE LOAN, THE RATE OF INTEREST EQUAL TO (i) THE RATE DETERMINED BY THE AGENT AT WHICH DOLLAR DEPOSITS FOR SUCH INTEREST PERIOD ARE OFFERED BASED ON INFORMATION PRESENTED ON TELERATE PAGE 3750 AS OF 11:00 A.M. LONDON TIME ON THE SECOND LIBOR BUSINESS DAY PRIOR TO THE FIRST DAY OF SUCH INTEREST PERIOD, DIVIDED BY (ii) A NUMBER EQUAL TO 1.00 MINUS THE EUROCURRENCY RESERVE RATE, IF APPLICABLE.


More Definitions of EUROCURRENCY RESERVE

EUROCURRENCY RESERVE. Requirements: for any day as applied to a LIBOR Loan, the aggregate (without duplication) of the rates (expressed as a decimal rounded upward to the nearest 1/100th of 1%) as determined by Agent of reserve requirements in effect on such day (including, without limitation, basic, supplemental, marginal and emergency reserves under any regulations of the Board of Governors of the Federal Reserve System of the United States or other Governmental Body, or any successor thereto, having jurisdiction with respect thereto) prescribed for Eurocurrency funding (currently referred to as "Eurocurrency Liabilities" in Regulation D of such Board) maintained by a member bank of the Federal Reserve System.
Sample 1
EUROCURRENCY RESERVE. REQUIREMENTS shall mean for any day, as applied to a LIBOR Loan, the aggregate (without duplication) of the maximum rates of reserve requirement (expressed as a decimal fraction) in effect with respect to the Agent or any Lender on such day (including, without limitation, basic, supplemental, marginal and emergency reserves under Regulation D or any other applicable regulations of the Board of Governors of the Federal Reserve System or other governmental authority having jurisdiction with respect thereto, as now and from time to time in effect, dealing with reserve requirements prescribed for Eurocurrency funding (currently referred to as "Eurocurrency Liabilities" in Regulation D of such Board) maintained by the Agent or any Lender (such rates to be adjusted to the nearest one-sixteenth of one percent (1/16 of 1%) or, if there is not a nearest one-sixteenth of one percent (1/16 of 1%), to the next higher one sixteenth of one percent (1/16 of 1%). EVENT(S) OF DEFAULT shall have the meaning given to such term in Section 10.1 of this Financing Agreement. EXCLUDED COLLATERAL shall mean (a) the assets and properties of each Excluded Subsidiary, if any, and (b) such capital stock of, or other equity interest in, any Excluded Subsidiary owned by any Company or Guarantor as the Agent, in its sole discretion, shall have agreed in writing shall constitute Excluded Collateral. As of the Closing Date there shall be no Excluded Collateral. In the event that the Agent agrees, in its sole discretion, that any assets or properties in which it has a security interest shall constitute Excluded Collateral, the Agent shall deliver to the applicable Companies such documents (including UCC partial releases) as shall be necessary to release such security interest. EXCLUDED SUBSIDIARY shall mean each Subsidiary of the Parent formed or acquired after the Closing Date, if any, as to which the Borrowing Agent and the Agent, in its sole discretion, shall have agreed in writing shall constitute an Excluded Subsidiary. As of the Closing Date there shall be no Excluded Subsidiaries.
Sample 1
EUROCURRENCY RESERVE. REQUIREMENTS shall mean for any day, as applied to a LIBOR Loan, the aggregate (without duplication) of the maximum aggregate reserve requirement (expressed as a decimal) in effect with respect to the Agent or any Lender on such day (including, without limitation, basic, supplemental, marginal and emergency reserves under Regulation D or any other applicable regulations of the Board of Governors of the Federal Reserve System or other governmental authority having jurisdiction with respect thereto, as now and from time to time in effect, dealing with reserve requirements prescribed for Eurocurrency funding (currently referred to as "EUROCURRENCY LIABILITIES" in Regulation D of such Board) maintained by the Agent or any Lender (such reserve to be adjusted to the nearest one-sixteenth of one percent (1/16 of 1%) or, if there is not a nearest one-sixteenth of one percent (1/16 of 1%), to the next higher one sixteenth of one percent (1/16 of 1%). EVENT(S) OF DEFAULT shall have the meaning given to such term in SECTION 10.1 of this Financing Agreement. EXCHANGE ACT shall mean the Securities Exchange Act of 1934, as amended and the regulations promulgated thereunder. EXCLUDED REAL ESTATE PROPERTY shall mean the Designated Real Estate Properties of the Credit Parties described on SCHEDULE 6.5(d) hereto. EXCLUDED SUBSIDIARIES shall mean Alderwoods Life Insurance Group Inc., a Delaware corporation, Rose Hills Holding Corp., a Delaware corporation, any Subsidiary of either of the foregoing, any Special Finance Subsidiary, Xxxxxx-Xxxxx Funeral Insurance Company, a Mississippi corporation, Xxxxxxx Funeral Insurance Company, Inc., a Mississippi corporation, Xxxxxxx Insurance Company, Inc., a Mississippi corporation, Xxxxxxxx Burial Association, Inc., a Mississippi corporation, Xxxxxxxx Funeral Benefit Association, Inc., a Mississippi corporation, Xxxxxxx Funeral Insurance Company, Inc., a Mississippi corporation, Crown Hill Memorial Park, Inc., a Texas corporation, Xxxxxx X. Xxxxxx Funeral Home, Inc., Xxxxxx X. Xxxxxx Funeral Home North Chapel, Inc., Xx X. Xxxxx & Brothers Funeral Directors, Inc., a Texas corporation, Xxxxxx Funeral Homes, Inc., a Texas corporation, Xxxxxx Funerals, Inc., a Texas corporation, Xxxxxx Southland Funeral Home, Inc., a Texas corporation, Wensley, L.L.C., a Michigan limited liability company, and, until they emerge from bankruptcy, the entities listed on Exhibit I.A.93 to the Plan of Reorganization, Advanced Planning (Alabama), Inc., an Alaba...
Sample 1
EUROCURRENCY RESERVE. REQUIREMENTS shall mean for any day, as applied to a LIBOR Loan, the aggregate (without duplication) of the maximum rates of reserve requirement (expressed as a decimal fraction) in effect with respect to CIT and/or any present or future lender or participant on such day (including, without limitation, basic, supplemental, marginal and emergency reserves under Regulation D or any other applicable regulations of the Board of Governors of the Federal Reserve System or other governmental authority having jurisdiction with respect thereto, as now and from time to time in effect, dealing with reserve requirements prescribed for Eurocurrency funding (currently referred to as "Eurocurrency Liabilities" in Regulation D of such Board) maintained by CIT and/or any such lenders or participants (such rates to be adjusted to the nearest one-sixteenth of one percent (1/16 of 1%) or, if there is not a nearest one-sixteenth of one percent (1/16 of 1%), to the next higher one sixteenth of one percent (1/16 of 1%). EVENT(S) OF DEFAULT shall have the meaning given to such term in Section 10.1 of this Financing Agreement. EXISTING LENDERS shall mean Banc of America Strategic Solutions, Inc., Wachovia Bank, National Association and The Prudential Insurance Company of America. EXISTING LENDERS SUBORDINATED DEBT shall mean the Indebtedness owing by the Company to the Existing Lenders pursuant to the Existing Lenders Subordinated Deb Documents, the payment of which is subordinated to the payment of xxe Obligations pursuant to the Existing Lenders Subordination Agreement.
Sample 1

Related to EUROCURRENCY RESERVE

  • Eurocurrency Reserve Percentage means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The Eurocurrency Rate for each outstanding Eurocurrency Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurocurrency Reserve Percentage.

  • Eurocurrency Reserve Requirement means the sum (without duplication) of the rates (expressed as a decimal) of reserves (including, without limitation, any basic, marginal, supplemental, or emergency reserves) that are required to be maintained by banks during the Interest Period under any regulations of the Federal Reserve Board, or any other governmental authority having jurisdiction with respect thereto, applicable to funding based on so-called “Eurocurrency Liabilities”, including Regulation D (12 CFR 224).

  • Eurocurrency Reserve Requirements for any day as applied to a Eurodollar Loan, the aggregate (without duplication) of the maximum rates (expressed as a decimal fraction) of reserve requirements in effect on such day (including basic, supplemental, marginal and emergency reserves) under any regulations of the Board or other Governmental Authority having jurisdiction with respect thereto dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board) maintained by a member bank of the Federal Reserve System.

  • Eurocurrency Rate Reserve Percentage for any Interest Period for all Eurocurrency Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurocurrency Rate Advances is determined) having a term equal to such Interest Period.

  • Eurocurrency when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate.

  • Eurodollar Rate Reserve Percentage for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Eurodollar Reserve Percentage means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The Eurodollar Rate for each outstanding Eurodollar Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurodollar Reserve Percentage.

  • Eurocurrency Base Rate means, with respect to a Eurocurrency Rate Advance for the relevant Interest Period:

  • Eurodollar when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate.

  • Eurocurrency Tranche the collective reference to Eurocurrency Loans under a particular Facility the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

  • Eurocurrency Interest Period means with respect to any Eurocurrency Rate Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, to the extent agreed to by the Agent and each Lender making such Eurocurrency Rate Borrowing, twelve months or any shorter period) thereafter, as a Borrower may elect; provided that (a) if any Eurocurrency Interest Period would end on a day other than a Business Day, such Eurocurrency Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Eurocurrency Interest Period shall end on the next preceding Business Day, (b) any Eurocurrency Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Eurocurrency Interest Period) shall end on the last Business Day of the last calendar month of such Eurocurrency Interest Period and (c) no Eurocurrency Interest Period for any (i) Eurocurrency Rate Revolving Loan shall end after the latest Scheduled Termination Date for the applicable Revolving Commitments under the applicable Revolving Facility or (ii) Eurocurrency Rate Term Loans shall end after the stated maturity date of such Term Loans.

  • Euro-Rate Reserve Percentage means, the maximum effective percentage in effect on such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including without limitation, supplemental, marginal, and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).

  • LIBOR Rate Reserve Percentage means as of any day the maximum percentage in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including supplemental, marginal and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).

  • Eurodollar Reserve Requirement means, at any time, the maximum rate at which reserves (including, without limitation, any marginal, special, supplemental, or emergency reserves) are required to be maintained under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) by member banks of the Federal Reserve System against "Eurocurrency liabilities" (as such term is used in Regulation D). Without limiting the effect of the foregoing, the Eurodollar Reserve Requirement shall reflect any other reserves required to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the Adjusted Eurodollar Rate is to be determined, or (ii) any category of extensions of credit or other assets which include Eurodollar Loans. The Adjusted Eurodollar Rate shall be adjusted automatically on and as of the effective date of any change in the Eurodollar Reserve Requirement.

  • Applicable Eurocurrency Margin means, as at any date of determination, the rate per annum then applicable to Eurocurrency Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Eurodollar Rate (Reserve Adjusted) means, with respect to any Eurodollar Loan for any Interest Period, a rate per annum (rounded upwards, if necessary, to the nearest 1/16th of 1%) determined pursuant to the following formula: Eurodollar Rate = Eurodollar Rate (Reserve Adjusted) 1-Eurocurrency Reserve Percentage.

  • Euro-Dollar Reserve Percentage has the meaning set forth in Section 2.06(c).

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Adjusted Eurocurrency Rate means, with respect to any Eurocurrency Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the Eurocurrency Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate for such Interest Period.

  • Eurocurrency Rate means, for any Interest Period with respect to any Eurocurrency Rate Loan:

  • Eurocurrency Lending Office means, with respect to any Lender, the office of such Lender specified as its “Eurocurrency Lending Office” in its Administrative Questionnaire delivered to the Agent, or such other office of such Lender as such Lender may from time to time specify to the Borrower and the Agent.

  • LIBOR Reserve Percentage means the reserve percentage prescribed by the Board of Governors of the Federal Reserve System (or any successor) for "Eurocurrency Liabilities" (as defined in Regulation D of the Federal Reserve Board, as amended), adjusted by Bank for expected changes in such reserve percentage during the applicable Fixed Rate Term.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurocurrency Rate.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.