London Interbank Offered Rates for a one month period (or, if no such rate is published therein for any reason, the Published Rate shall be the Adjusted Eurodollar Rate for a one month period as published in another publication determined by the Administrative Agent in accordance with its customary practices); provided, however, that in no event shall the Published Rate be less than 0.0%.
London Interbank Offered Rates for a one month period (or, if no such rate is published therein for any reason, then the Published Rate shall be the rate at which U.S. dollar deposits are offered by leading banks in the London interbank deposit market for a one month period as published in another publication selected by the Administrative Agent). Purchase Money Security Interest means Liens upon tangible personal property securing loans to any Loan Party or Subsidiary of a Loan Party or deferred payments by such Loan Party or Subsidiary for the purchase of such tangible personal property Qualified ECP Loan Party means each Loan Party that on the Eligibility Date is (a) a corporation, partnership, proprietorship, organization, trust, or other entity other than a “commodity pool” as defined in Section 1a(10) of the CEA and CFTC regulations thereunder that has total assets exceeding Ten Million and 00/100 Dollars ($10,000,000.00), or (b) an Eligible Contract Participant that can cause another person to qualify as an Eligible Contract Participant on the Eligibility Date under Section 1a(18)(A)(v)(II) of the CEA by entering into or otherwise providing a “letter of credit or keepwell, support, or other agreement” for purposes of Section 1a(18)(A)(v)(II) of the CEA. Ratable Share means: (i) with respect to a Lender’s obligation to make Revolving Credit Loans, participate in Letters of Credit and other Letter of Credit Obligations, participate in Swing Loans, and receive payments, interest, and fees related thereto, the proportion that such Lender’s Revolving Credit Commitment bears to the Revolving Credit Commitments of all of the Lenders, provided that if the Revolving Credit Commitments have terminated or expired, the Ratable Shares for purposes of this clause shall be determined based upon the Revolving Credit Commitments most recently in effect, giving effect to any subsequent assignments; and (ii) with respect to all other matters as to a particular Lender, the percentage obtained by dividing (A) such Lender’s Revolving Credit Commitment by (B) the sum of the aggregate amount of the Revolving Credit Commitments of all Lenders; provided however that if the Revolving Credit Commitments have terminated or expired, the computation in this clause shall be determined based upon the Revolving Credit Commitments most recently in effect, giving effect to any subsequent assignments, and not on the current amount of the Revolving Credit Commitments and provided further that in the case of Section
London Interbank Offered Rates for a one month period: provided that if no such rate is published therein for any reason, then the Published Rate shall be the rate at which U.S. dollar deposits are offered by leading banks in the London interbank deposit market for a one month period either (i) as published in another publication selected by the Administrative Agent or (ii) in an Alternate Source (or if there shall at any time, for any reason, no longer exist any such reference or any Alternate Source, a comparable replacement rate determined by the Administrative Agent at such time (which determination shall be conclusive absent manifest error)). Ratable Share shall mean with respect to a Lender’s obligation to make Revolving Credit Loans, participate in Letters of Credit and other Letter of Credit Obligations, participate in Swing Loans, and receive payments, interest, and fees related thereto and all other matters as to a particular Lender, the percentage obtained by dividing (i) such Lender’s Revolving Credit Commitment, by (ii) the sum of the aggregate amount of the Revolving Credit Commitments of all Lenders; provided however that if the Revolving Credit Commitments have terminated or expired, the computation in this clause shall be determined based upon the Revolving Credit Commitments most recently in effect, giving effect to any assignments, and not on the current amount of the Revolving Credit Commitments and provided further in the case of Section
Examples of London Interbank Offered Rates in a sentence
Advances (including letters of credit) under the Revolving Facilities can be drawn in either Canadian or U.S. funds and bear interest at the bank’s prime lending rate, bankers’ acceptance discount rates or London Interbank Offered Rates, plus applicable margins.
Interest charged on borrowings under the credit line agreements is based on either bids provided by banks, the prime rate or London Interbank Offered Rates (LIBOR), plus applicable margins.
These inputs include foreign currency rates, London Interbank Offered Rates (LIBOR) and swap rates.
With reference rates like the various tenors of the London Interbank Offered Rates (“LIBOR”) being discontinued between December 31, 2021 and June 30, 2023, a significant volume of contracts and other arrangements will be impacted by the transition required to alternative reference rates.
Advances (including letters of credit) under the credit facilities can be drawn in either Canadian or U.S. funds and bear interest at the bank’s prime lending rate, bankers’ acceptance discount rates or London Interbank Offered Rates, plus applicable margins.
More Definitions of London Interbank Offered Rates
London Interbank Offered Rates for a one month period (or, if no such rate is published therein for any reason, then the Published Rate shall be the rate at which U.S. dollar deposits are offered by leading banks in the London interbank deposit market for a one month period as published in another publication selected by the Agent); provided that, with respect to any day that is not a Business Day, the “Published Rate” shall be the Published Rate on the immediately preceding Business Day. “Ratable Share” means, at any time, with respect to any Lender, (a) on the Effective Date, the proportion that such Lender’s Commitment bears to the Commitments of all of the Lenders and (b) after the Effective Date, the proportion that the principal amount of the Advance of such Lender outstanding at such time bears to the aggregate principal amount of the Advances of all of the Lenders outstanding at such time. If no Advances are outstanding at any time after the Effective Date, the Ratable Shares shall be determined based upon the outstanding principal amount of the Advances most recently outstanding. “Recipient” means (a) the Agent and (b) any Lender, as applicable. “Register” has the meaning specified in Section 8.07(c). “Relevant Governmental Body” has the meaning specified in Section 2.09(g). “Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority. “Regulation S-X” means Regulation S-X of the U.S. Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934 (as amended from time to time). “Required Lenders” means Lenders, excluding any Defaulting Lenders, having a majority of the aggregate outstanding principal amount of the Advances of the Lenders (excluding any Defaulting Lender) then outstanding. “Responsible Officer” means, with respect to the Borrower, the Chief Executive Officer, President, Chief Financial Officer, Treasurer or Assistant Treasurer of the Borrower. UGI Utilities Credit Agreement DMFIRM #403221427 v19 18
London Interbank Offered Rates for a one month period (or, if no such rate is published therein for any reason, then the Published Rate shall be the rate at which U.S. dollar deposits are offered by leading banks in the London interbank deposit market for a one month period as published in another publication selected by the Administrative Agent). “QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). “QFC Covered Entity” means any of the following: (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. 252.82(b), (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. 47.3(b); or a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. 382.2(b). “QFC Credit Support” has the meaning assigned to it in Section 9.17. “Quarterly Statement” means the quarterly financial statement of any Insurance Subsidiary as required to be filed with the insurance commissioner (or similar authority) of such Insurance Subsidiary’s state of domicile, together with all exhibits or schedules filed therewith, prepared in conformity with SAP. “Recipient” means, as applicable, (a) the Administrative Agent, (b) any Lender and (c) any Issuing Bank. “Register” has the meaning assigned to such term in Section 9.04. “Reimbursement Obligation” has the meaning assigned to such term in Section 2.19. “Reinsurance Agreements” means any agreement, contract, treaty, certificate or other arrangement (other than a Surplus Relief Reinsurance Agreement) whereby any Insurance Subsidiary agrees to transfer or cede to another insurer all or part of the liability assumed by such Insurance Subsidiary under a policy or policies of insurance reinsured by such Insurance Subsidiary. “Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates. “Reportable Compliance Event” shall mean that any Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of its operations is in actual or probable violation of ...
London Interbank Offered Rates for a one month period (or, if no such rate is published therein for any reason, then the Published Rate shall be the rate at which Dollar deposits are offered by leading banks in the London interbank deposit market for a one month period as published in another publication selected by the Bank in its reasonable discretion); provided that, for any day that is not a Business Day, the Published Rate for such day shall be the Published Rate as in effect on the most recent Business Day. Purchase Money Security Interest shall mean Liens upon tangible personal property securing loans to the Borrower or any of its Subsidiaries or deferred payments by the Borrower or such Subsidiary for the purchase of such tangible personal property. Quarterly Monitoring Return shall mean the information to be provided by the Borrower in relation to the Managed Syndicate pursuant to Section 6.3.3 in the format agreed between the Bank and the Borrower on or before the date of this Agreement. Realistic Disaster Scenario shall mean any realistic disaster scenario presented in a business plan prepared in relation to the Managed Syndicate under paragraph 35 of the Underwriting Xxxxxx (No. 2 of 2003) which shows the potential impact on the Managed Syndicate of a catastrophic event. Reimbursement Date shall have the meaning specified in Section 2.2.3. Reimbursement Obligation shall have the meaning specified in Section 2.2.3. Related Parties shall mean, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents and advisors of such Person and of such Person’s Affiliates. Relevant Government Body shall have the meaning specified in Section 3.6.6. Relief Proceeding shall mean any proceeding seeking a decree or order for relief in respect of the Borrower or any of its Subsidiaries in a voluntary or involuntary case under any applicable bankruptcy, insolvency, reorganization or other similar law now or hereafter in effect,
London Interbank Offered Rates for deposits in U.S. dollars, for a period of time comparable to such Interest Period, (ii) the applicable LIBOR quoted to the Agent by JPMorgan Chase Bank (or any successor thereof), or (iii) the rate of interest determined by the Agent at which deposits in U.S. dollars are offered for the relevant Interest Period based on information presented on Telerate Systems at Page 3750 as of 11:00 A.M. (London time) on the day which is two (2) Business Days prior to the first day of such Interest Period, provided that, if at least two such offered rates appear on the Telerate Page (or any successor thereof) 3750 in respect of such Interest Period, the arithmetic mean of all such rates (as determined by the Agent) will be the rate used; divided by (b) a number equal to 1.0 minus the aggregate (but without duplication) of the rates (expressed as a decimal fraction) of Eurocurrency Reserve Requirements in effect on the day which is two (2) Business Days prior to the beginning of such Interest Period.
London Interbank Offered Rates for a one month period (or, if no such rate is published therein for any reason, then the Eurodollar Base Rate will be the eurodollar rate for a one month period as published in another publication selected by the Administrative Agent). “Event of Default”: any of the events specified in Section 8. “Exchange Act”: the Securities Exchange Act of 1934, as amended. “Existing Credit Agreement”: Credit Agreement, dated as of June 9, 2010, among the Borrower, the lenders party thereto from time to time, PNC Bank, National Association, as administrative agent, and the other agents party thereto (as amended, supplemented or otherwise modified from time to time prior to the Closing Date). “Existing Letters of Credit”: the letters of credit issued and outstanding immediately prior to the Closing Date and set forth on Schedule 1.1D. “Existing Notes”: (i) the 5.625% Senior Notes due 2025 issued under and pursuant to an Indenture, dates as of August 3, 2017, among the Borrower, the guarantors named therein and U.S. Bank National Association, as trustee and (ii) the 4.95% Senior Notes due 2028 issued under and pursuant to an Indenture, dated as of January 22, 2020, among the Borrower, the guarantors named therein and U.S. Bank National Association, as trustee. “Existing Termination Date”: as defined in Section 2.22(a). “Extending Lender”: as defined in Section 2.22(b). “FATCA”: Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code. “Federal Funds Effective Rate”: for any day, an interest rate per annum equal to the rate calculated by the New York Fed based on such day’s (or, if such day is not a Business Day, the most recently occurring Business Day’s) federal funds transactions by depository institutions (as determined in such manner as the New York Fed shall set forth on its public website from time to time) and published on the next succeeding Business Day by the New York Fed as the federal funds effective rate.; provided that (a) if such day is not a Business Day, the Federal Funds Effective Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, (b) if no such rate is so published on such next succee...
London Interbank Offered Rates. ("LIBOR") or (b) the rate per annum, as determined by Bank (rounded up, if necessary, to the nearest 1/16 of 1%), at which deposits in U.S. Dollars are available to Bank in the London Interbank Eurodollar market at or about 11:00 A.M., local time, in London, England, two Business Days prior to the first day of the applicable Interest Period, for a period equal to such Interest Period and in an amount equal or comparable to the amount of the Revolving Loan for the Interest Period.
London Interbank Offered Rates for a one month period (or, if no such rate is published therein for any reason, then the Published Rate shall be the rate at which U.S. dollar deposits are offered by leading banks in the London interbank deposit market for a one month period as published in another publication selected by the Bank).