Fallback Rate Borrowing definition

Fallback Rate Borrowing means a Borrowing comprised of Fallback Rate Loans.
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Fallback Rate Borrowing means a Borrowing comprised of Fallback Rate Loans. “Fallback Rate Loan” shall mean a Term Loan that bears interest based on the Fallback Rate. “FASB ASC” shall mean the Accounting Standards Codification of the Financial Accounting Standards Board. “FATCA” shall mean (a) Sections 1471 to 1474 of the Code and any associated regulations; (b) any treaty, law or regulation of any other jurisdiction, or relating to any intergovernmental agreement between the United States and any other jurisdiction, which (in either case) facilitates the implementation of any law or regulation referred to in clause (a) above; or (c) any agreement pursuant to the implementation of any treaty, law or regulation referred to in clauses (a) or (b) above with the IRS, the U.S. government or any governmental or taxation authority in any other jurisdiction. “FATCA Application Date” shall mean (a) in relation to a “withholdable payment” described in section 1473(1)(A)(i) of the Code (which relates to payments of interest and certain other payments from sources within the United States), July 1, 2014; (b) in relation to a “withholdable payment” described in Section 1473(1)(A)(ii) of the Code (which relates to “gross proceeds” from the disposition of property of a type that can produce interest from sources within the United States), January 1, 2019; or (c) in relation to a “passthru payment” described in Section 1471(d)(7) of the Code not falling within paragraphs (a) or (b) above, January 1, 2019; or, in each case, such other date from which such payment may become subject to a deduction or withholding required by FATCA as a result of any change in FATCA after the date of this Agreement. “FATCA Deduction” shall mean a deduction or withholding from a payment under a Loan Document required by FATCA. “FATCA Exempt Party” shall mean a Party that is entitled to receive payments free from any FATCA Deduction. “Fee Letters” means the Agent Fee Letter, the Upfront Fee Letter, the Aleris Fee Letter and each Additional Fee Letter. 46 1031947.12E-CHISR1060441.10-CHISR01A - MSW
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Examples of Fallback Rate Borrowing in a sentence

  • Subject to the provisions of Section 2.06(c), the Loans comprising each Fallback Rate Borrowing shall bear interest at a rate per annum equal to the Fallback Rate plus the Applicable Margin; provided that for any Interest Period of less than one month, the Fallback Rate shall be calculated based on an Interest Period of one month.

Related to Fallback Rate Borrowing

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

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

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

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • 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).

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

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

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.12, bears interest at the applicable Eurocurrency Rate.

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

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(ii).

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

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

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

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Alternative Currency Daily Rate Loan means a Committed Loan that bears interest at a rate based on the definition of “Alternative Currency Daily Rate.” All Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.

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