European Base Rate definition
European Base Rate means, with respect to Euros, Pounds Sterling, Swiss Francs and Dollars, funded outside the United States, the Eurocurrency Rate for a one--month period on such date, plus 1.00%, provided that, to the extent a comparable or successor rate is approved by the applicable Administrative Agent in connection herewith, the approved rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the applicable Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the applicable Administrative Agent. Any change in such rate shall take effect at the opening of business on the day of such change.
European Base Rate means, with respect to Euros funded outside of the United States, the LIBO Rate as of 11:00 a.m. (London time) on the first Business Day in each month for a one (1) month period, provided that to the extent a comparable or successor rate is approved by the Administrative Agent in connection herewith, the approved rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent. Any change in such rate shall take effect at the opening of business on the day of such change. If such European Base Rate shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement;
European Base Rate means, with respect to Euros, Sterling and Dollars outside of the U.S. and Canada, as applicable, a fluctuating rate of interest per annum equal to the rate of interest in effect for such day as announced from time to time by the European Central Bank and used by the local branch of Bank of America in the jurisdiction in which such currency is funded as its “base rate” with respect to such currency. Any change in such rate shall take effect at the opening of business on the day of such change. In no event shall the European Base Rate be less than one quarter of one percent (0.25%).
Examples of European Base Rate in a sentence
If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Borrowing of Base Rate Loans (for Borrowings in U.S. Dollars under the U.S. Subfacility), European Base Rate Loans (for Borrowings in U.S. Dollars under the RoW Subfacility), Alternative Currency Daily Rate Loans (for Borrowings in Pounds Sterling) and Alternative Currency Term Rate Loans with an Interest Period of one month (for Borrowings in any other currency).
If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Borrowing of Base Rate Loans (for Borrowings in U.S. Dollars under the U.S. Subfacility), European Base Rate Loans (for Borrowings in U.S. Dollars under the RoW Subfacility), Alternative Currency Daily Rate Loans (for Borrowings in Sterling) and Alternative Currency Term Rate Loans with an Interest Period of one month (for Borrowings in any other currency).
More Definitions of European Base Rate
European Base Rate means, with respect to Loans denominated U.S. Dollars that are funded outside the United States, Term SOFR as of 11:00 am, New York City time, on the first Business Day in each month for a 1 month interest period.
European Base Rate means, with respect to Loans denominated in Euros and Dollars that are funded outside the U.S., the rate per annum equal to the sum of (a) (i) LIBOR, with respect to Loans denominated in Dollars, or (ii) EURIBOR, with respect to Loans denominated in Euros, in each case for an interest period of one month’s duration as in effect on the first Business Day of the then current calendar month, and (b) one percent (1.00%), provided that in no event shall the European Base Rate be less than one-quarter percent (0.25%).
European Base Rate means, with respect to Loans denominated U.S. Dollars that are funded outside the United States, the LIBO RateTerm SOFR as of 11:00 am, New York City time, on the first Business Day in each month for a 1 month interest period.
European Base Rate means, with respect to Euros, Pounds Sterling, Swiss Francs and Dollars, funded outside the United States, the Eurocurrency Rate for a one--month period on such date, plus 1.00%, provided that in no event shall the European Base Rate be less than 1.00%, provided, further, to the extent a comparable or successor rate is approved by the applicable Administrative Agent in connection herewith, the approved rate shall be applied in a manner consistent with market practice; provided, further, that to the extent such market practice is not administratively feasible for the applicable Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the applicable Administrative Agent. Any change in such rate shall take effect at the opening of business on the day of such change.
European Base Rate means, with respect to Loans denominated U.S. Dollars that are funded outside the United States, the LIBO Rate as of 11:00 am on the first Business Day in each month for a 1 month interest period.
European Base Rate means, with respect to Euros, Sterling and Dollars outside of the U.S. and Canada, as applicable, a fluctuating rate of interest per annum equal to the rate of interest in effect for such day as announced from time to time by the European Central Bank and used by the local branch of Bank of America in the jurisdiction in which such currency is funded as its “base rate” with respect to such currency. Any change in such rate shall take effect at the opening of business on the day of such change. In no event shall the European Base Rate be less than one percent (1.00%).
European Base Rate means, with respect to Euros funded outside of the United States, the LIBO Rate as of 11:00 a.m. (London time) on the first Business Day in each month for a one (1) month period, provided that to the extent a comparable or successor rate is approved by the Administrative Agent in connection herewith, the approved rate shall be applied in a manner consistent with market practice; provided, further that to the