Fixed CD Rate definition

Fixed CD Rate means the arithmetic average (rounded upwards, if necessary, to the next 1/100 of 1%) of the prevailing rates per annum bid at or about 10:00 a.m., New York City time, to the Agent on the first Business Day of the Interest Period applicable to such CD Borrowing by three New York City negotiable certificate of deposit dealers of recognized national standing selected by the Agent for the purchase at face value of negotiable certificates of deposit of major United States money center banks in a principal amount approximately equal to the Reference Bank's portion of such CD Borrowing and with a maturity comparable to such Interest Period.

Fixed CD Rate means, with respect to a Fixed CD Rate Advance or Fixed CD Rate Loan for the relevant CD Interest Period, a rate per annum equal to the sum of (i) the quotient of (a) the Fixed CD Base Rate applicable to that CD Interest Period, divided by (b) one minus the Reserve Requirement (expressed as a decimal) applicable to that CD Interest Period, plus (ii) the Assessment Rate applicable to that CD Interest Period, plus (iii) the Applicable Margin.

Fixed CD Rate means, with respect to a Fixed CD Rate Advance for the relevant CD Interest Period, a rate per annum equal to the sum of (i) the quotient of (a) the Fixed CD Base Rate applicable to such CD Interest Period, divided by (b) one minus the Reserve Requirement (expressed as a decimal) applicable to such CD Interest Period, plus (ii) the Assessment Rate applicable to such CD Interest Period, plus (iii) the Applicable CD Rate Margin as of the date of such Advance. The Fixed CD Rate shall be rounded to the next higher multiple of 1/100 of 1% if the rate is not such a multiple.

Examples of Fixed CD Rate in a sentence

• Interest accrued on each Fixed Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each 90 day interval (in the case of Fixed CD Rate Advances or Absolute Rate Advances) or three-month interval (in the case of Eurocurrency Committed Advances or Eurocurrency Bid Rate Advances) during such Interest Period.

• The Borrower shall give the Administrative Agent notice (a "Committed Borrowing Notice") not later than 10:00 a.m. (Chicago time) on the Borrowing Date of each Floating Rate Advance, two Business Days before the Borrowing Date of each Fixed CD Rate Advance, three Business Days before the Borrowing Date for each Eurocurrency Committed Advance denominated in Dollars and five Business Days before the Borrowing Date for each Eurocurrency Committed Advance denominated in an Alternative Currency.

• The Ratable Advances may be ABR Advances, Federal Funds/Euro-Rate Advances, Fixed CD Rate Advances or Eurodollar Ratable Advances, or a combination thereof, selected by the Borrower in accordance with Section 2.2.3. No Ratable Advance may mature after the Facility Termination Date.

• The Committed Advances may be Floating Rate Advances, Fixed CD Rate Advances or Eurocurrency Committed Advances, or a combination thereof, selected by the Borrower in accordance with Sections 2.2.3 and 2.2.4.

• The Borrower shall give the Administrative Agent irrevocable notice (a "Ratable Borrowing Notice') not later than 10:00 a.m. (Chicago time) (or 10:15 a.m. (Chicago time) if applicable under the next succeeding sentence), (x) on the Borrowing Date of each Floating Rate Advance, (y) at least one Business Day prior to the Borrowing Date of each Fixed CD Rate Advance and (z) at least three Business Days prior to the Borrowing Date of each Eurodollar Ratable Advance.

More Definitions of Fixed CD Rate

Fixed CD Rate shall have the meaning set forth in Section 2.07(b).

Fixed CD Rate applicable to any CD Loan for any Interest Period means a rate per annum equal to the sum of the CD Margin plus the applicable Adjusted CD Rate.

Fixed CD Rate means the arithmetic average (rounded upwards, if necessary, to the next 1/100 of 1%) of the prevailing rates per annum bid at or about 10:00 a.m., New York City time, to the Agent on the first Business Day of the Interest Period applicable to such CD Borrowing by three New York City negotiable certificate of deposit dealers of recognized standing selected by the Agent for the purchase at face value of negotiable certificates of deposit of major United States money center banks in a principal amount approximately equal to the product of (x) the aggregate principal amount of such CD Borrowing as specified in the related Competitive Bid Request and (y) the percentage which the Agent's Commitment represents of the Total Commitment and with a maturity comparable to such Interest Period.

Fixed CD Rate is amended by replacing ".625%" in each place where it appears with ".50%".

Fixed CD Rate means, with respect to each Interest Period for a CD Rate Advance, the sum of (i) the rate obtained by dividing (x) the Certificate of Deposit Rate for such Interest Period by (y) a percentage equal to 1 minus the stated maximum rate (stated as a decimal) of all reserve requirements as specified in Regulation D (including, without limitation, any marginal, emergency, supplemental, special or other reserves) applicable during such Interest Period to new nonpersonal time deposits in the United States in an amount equal to or in excess of $100,000 with a maturity comparable to such Interest Period of any member bank of the Federal Reserve System, plus (ii) the then daily net annual assessment rate as estimated by the Domestic Agent for determining the then current annual assessment payable to the Federal Deposit Insurance Corporation for insuring time deposits of the Domestic Agent in the United States.

Fixed CD Rate has the meaning set forth in Section 2.5(b) hereof.

Fixed CD Rate means the arithmetic average (rounded upwards, if necessary, to the next 1/100 of 1%) of the prevailing rates per annum bid at or about 10:00 a.m., New York City time, to the Administrative Agent on the first Business Day of the Interest Period applicable to such CD Borrowing by three New York City negotiable certificate of deposit dealers of recognized standing selected by the Administrative Agent for the purchase at face value of negotiable certificates of deposit of major United States money center banks in a principal amount approximately equal to (x) in the case of a Standby Borrowing, the Administrative Agent's portion of such CD Borrowing and (y) in the case of a Competitive Borrowing, the product of (1) the aggregate principal amount of such CD Borrowing as specified in the related Competitive Bid Request and (2) the percentage which the Administrative Agent's Commitment represents of the Total Commitment, and with a maturity comparable to such Interest Period.