Eurocurrency Screen Rate has the meaning assigned to it in the definition of “Eurocurrency Rate.”
Eurocurrency Screen Rate means, for any day and time, in relation to any Loan denominated in a LIBOR Quoted Currency for any Eurocurrency Interest Period, the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for the relevant currency for a period equal in length to such Eurocurrency Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Agent in its reasonable discretion)).
Eurocurrency Screen Rate means, for any day and time, in relation to any Term Loan for any Interest Period, the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for Dollars for a period equal in length to such Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Agent in its reasonable discretion)).
Examples of Eurocurrency Screen Rate in a sentence
The interest rate on Eurocurrency Rate Loans is determined by reference to the Eurocurrency Screen Rate, which is derived from the London interbank offered rate.
On March 5, 2021 the Financial Conduct Authority (“FCA”), the regulatory supervisor of Eurocurrency Screen Rate’s administrator (“IBA”), announced in a public statement the future cessation or loss of representativeness of overnight/Spot Next, 1-month, 2-month, 3-month, 6-month and 12-month Eurocurrency Screen Rate tenor settings.
At any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR or Eurocurrency Screen Rate), then the Agent may remove any tenor of such Benchmark that is unavailable or non-representative for Benchmark (including Benchmark Replacement) settings and (ii) the Agent may reinstate any such previously removed tenor for Benchmark (including Benchmark Replacement) settings.
More Definitions of Eurocurrency Screen Rate
Eurocurrency Screen Rate means the London Interbank Offered Rate quote on the applicable screen page the Administrative Agent (in its reasonable discretion) designates to determine London Interbank Offered Rate (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time in its reasonable discretion).
Eurocurrency Screen Rate means, for any day and time, with respect to any Eurocurrency Rate Loan for any Interest Period, the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for U.S. Dollars for a period equal in length to such Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion, provided that if the Eurocurrency Screen Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.
Eurocurrency Screen Rate means, for any date and time, with respect to any Eurocurrency Loan for any Interest Period, or with respect to any determination of the Alternate Base Rate pursuant to clause (c) of the definition thereof, the London interbank offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in the applicable currency (for delivery on the first day of such Interest Period) for a period equal in length to the applicable period as displayed on the Reuters screen page that displays such rate (currently page LIBOR01 or LIBOR02) or, in the event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent from time to time in its reasonable discretion.
Eurocurrency Screen Rate means, for any day and time, with respect to any Eurocurrency Rate loan for any applicable currency and for any interest period, the London interbank offered rate as administered by ICE Benchmark Administration (or any other person that takes over the administration of such rate for the relevant currency for a period equal in length to such interest period as displayed on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion); provided that if the Eurocurrency Screen Rate as so determined would be less than zero, such rate shall be deemed to zero for the purposes of calculating such rate. “Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions, as determined in such manner as the NYFRB shall set forth on its public website from time to time, and published on the next succeeding business day by the NYFRB as the federal funds effective rate; provided that if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for the purposes of the Credit Agreement. “Interpolated Rate” means, at any time, for any interest period, the rate per annum (rounded to the same number of decimal places as the Eurocurrency Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the Eurocurrency Screen Rate for the longest period for which the Eurocurrency Screen Rate is available for the applicable currency) that is shorter than the Impacted Interest Period; and (b) the Eurocurrency Screen Rate for the shortest period (for which that Eurocurrency Screen Rate is available for the applicable currency) that exceeds the Impacted Interest Period, in each case, at such time; provided that if any Interpolated Rate shall be less than zero, such rate shall be deemed to be zero for purchases of the Credit Agreement.
Eurocurrency Screen Rate means, for any day and time, in relation to any Loan denominated in a LIBOR Quoted Currency for any Eurocurrency Interest Period, the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for the relevant currency for a period equal in length to such Eurocurrency Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Agent in its reasonable discretion)). “European Borrowers” means, collectively, the German Borrower, the Irish Borrowers, the Lux Borrower and the U.K. Borrower. “Event of Default” has the meaning assigned to such term in Section 7.01.
Eurocurrency Screen Rate means, for any day and time, in relation to any Loan denominated in a LIBOR Quoted Currency for any Eurocurrency Interest Pe- riod, the London interbank offered rate as administered by ICE Benchmark Administra- tion (or any other Person that takes over the administration of such rate for the relevant currency for a period equal in length to such Eurocurrency Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as se- lected by the Agent in its reasonable discretion)). “European Borrowers” means, collectively, the German Borrower, the Irish Borrowers, the Lux Borrower and the U.K. Borrower. “Event of Default” has the meaning assigned to such term in Section 7.01. “Excess Cash Flow” means, for any Excess Cash Flow Period, an amount equal to the excess of: (a) the sum, without duplication, of: (i) Consolidated Net Income of the U.S. Borrower for such period, (ii) an amount equal to the amount of all noncash charges to the ex- tent deducted in arriving at such Consolidated Net Income,
Eurocurrency Screen Rate means, for any day and time, in relation to any Term Loanfor any Interest Period, the London interbank offered rate as administered by ICE BenchmarkAdministration (or any other Person that takes over the administration of such rate for Dollars for aperiod equal in length to such Interest Period as displayed on such day and time on pages LIBOR01 orLIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on aReuters page or screen, on any successor or substitute page on such screen that displays such rate, or onthe appropriate page of such other information service that publishes such rate from time to time asselected by the Agent in its reasonable discretion)).“Event of Default” has the meaning assigned to such term in Section 7.01.“Excess Cash Flow” means, for any Excess Cash Flow Period, an amount equal to theexcess of: (a) the sum, without duplication, of:(i) Consolidated Net Income of the Borrower for such period,(ii) an amount equal to the amount of all noncash charges to the extentdeducted in arriving at such Consolidated Net Income,-21-