Market Replacement Rate definition

Market Replacement Rate means either of the following: (i) if at least 25% of the par amount of the Collateral Obligations held by the Issuer consists of semi-annually pay floating rate Collateral Obligations, the single reference or base rate (which shall include a Base Rate Modifier) that is used in calculating the interest rate of at least 25% of the par amount of semi-annually pay floating rate Collateral Obligations held by the Issuer on the relevant date of determination as determined by the Collateral Manager as of the first day of the Accrual Period during which a Base Rate Amendment is proposed or (ii) the index rate of at least 50% of the par amount of floating rate notes priced in the preceding six months in new issue collateralized loan obligation transactions as determined by the Collateral Manager as of the first day of the Accrual Period during which a LIBOR Successor Rate is proposed by the Collateral Manager.
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Market Replacement Rate. The base rate, other than LIBOR, that is used in (x) more than 50% (by principal amount) of the Floating Rate Obligations and such rate is a monthly or quarterly floating rate; provided that if less than 50% (by principal amount) of the Floating Rate Obligations use a quarterly rate option at such time, consent to such rate has been obtained from a Majority of the Controlling Class, or (y) at least 50% (by principal amount) of the quarterly pay floating rate securities issued in the new-issue U.S. collateralized loan obligation market in the prior three months provided that there have been in such period at least five new issuances by at least three different collateral managers (in each case, as determined by the Collateral Manager in its reasonable discretion), which in each case shall include a Base Rate Modifier that corresponds to the selected rate.
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Market Replacement Rate means, as of any date of determination, either of (x) the rate that is consistent with the reference rate being used in at least 50% (by principal amount) of the quarterly pay Floating Rate Underlying Assets as of such date or (y) the rate that is consistent with the reference rate being used in at least 50% (by principal amount) of the floating rate securities issued in the new-issue collateralized loan obligation market in the three months prior to such date that bear interest based on a base rate other than the London interbank offered rate as chosen by the Asset Manager in its reasonable judgment. To the extent that no rate satisfies either the conditions in clause (x) or the conditions in clause (y), then the Market Replacement Rate will be the Designated Base Rate.
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Examples of Market Replacement Rate in a sentence

  • To the extent that no rate satisfies either the conditions in clause (x) or the conditions in clause (y), then the Market Replacement Rate shall be the Designated Base Rate.

  • If the Market Replacement Rate with respect to the Secured Notes for any Interest Accrual Period as determined pursuant to the Indenture would be a rate less than 0%, then the Market Replacement Rate with respect to the Secured Notes for such Interest Accrual Period will be 0%.

  • The alternative base rate (which shall be the Designated Base Rate or the Market Replacement Rate unless a Majority of the Controlling Class and a Majority of the Subordinated Notes shall consent to any other alternative base rate in accordance with Section 8.1(a)(xix)) selected by the Collateral Manager to replace LIBOR pursuant to a Base Rate Amendment.

  • Following a LIBOR Disruption Event with respect to the non-Benchmark Replacement Notes, the Collateral Manager shall, upon written notice to the Issuer and the Trustee, propose an Alternate Reference Rate that is either (x) a Designated Base Rate or a Market Replacement Rate or (y) an Alternate Reference Rate to be adopted pursuant to a Base Rate Amendment.

  • To the extent that no rate satisfies either theconditions in clause (x) or the conditions in clause (y), then the Market Replacement Rate shall be the Designated Base Rate.

  • The alternative base rate (which shall be the Designated Base Rate or the Market Replacement Rate) selected by the Collateral Manager to replace the LIBOR Rate pursuant to a Base Rate Amendment.

  • For the mapping in Figure 1 (a) a further traversal of the list would result in no cache hits at all.

  • If the Market Replacement Rate with respect to theSecured Notes for any Interest Accrual Period as determined pursuant to the Indenture would be a rate less than 0%, then the Market Replacement Rate with respect to the Secured Notes for such Interest Accrual Period will be 0%.

  • Follow Highway 19 north to Horne Lake Road.Turn right and look for the hatchery sign after you cross railway tracks.


More Definitions of Market Replacement Rate

Market Replacement Rate. The base rate, other than LIBOR, that is used on at least (x) 50% (by principal amount) of the Collateral Obligations; provided that such rate is a quarterly floating rate or (y) 50% (by principal amount) of the quarterly pay floating rate securities issued in the new-issue collateralized loan obligation market in the prior three months, which in each case shall include a Base Rate Modifier that corresponds to the selected rate.
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Market Replacement Rate. : means either of the following: (i) if at least 50% of the par amount of the Collateral Obligations held by the Issuer and issued in the preceding three months consists
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Market Replacement Rate means, as of any date of determination, either of (x) the rate that is consistent with the reference rate being used in at least 50% (by principal amount) of
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Market Replacement Rate. Either: (x) if 50% or more (by principal amount) of the Collateral Obligations are quarterly pay Floating Rate Obligations that bear interest based on a reference rate other than LIBOR, the rate that is consistent with the reference rate being used on at least 66 2/3% (by principal amount) of the Floating Rate Obligations that are quarterly pay, which shall include a Base Rate Modifier that corresponds to the selected rate or (y) if 50% (by principal amount) of the quarterly pay floating rate securities issued in the new-issue collateralized loan obligation market in the prior three months bear interest based on a reference rate other than LIBOR, the rate that is consistent with the reference rate being used on at least 50% (by principal amount) of the quarterly pay floating rate securities issued in the new-issue collateralized loan obligation market, which shall include a Base Rate Modifier that corresponds to the selected rate.
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Market Replacement Rate has the meaning given to it in paragraph (c) of Clause 6.9 (Costs Incurred by and Indemnity to the Lenders and/or the French Authorities).
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Market Replacement Rate means the average of the Quotations made by the Quoting Banks upon demand by the French Authorities, after disregarding the highest and lowest of those quotations;
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Related to Market Replacement Rate

  • Replacement Rate has the meaning assigned thereto in Section 4.2.(b).

  • Reference Interest Rate Replacement Adjustment means the first alternative set forth in the order below that can be determined by the Issuer or its designee as of the Reference Interest Rate Replacement Date:

  • Reference Interest Rate Replacement means the first alternative set forth in the order below that can be determined by the Issuer or its designee as of the Reference Interest Rate Replacement Date:

  • Reference Interest Rate Replacement Conforming Changes means, with respect to any Reference Interest Rate Replacement, any technical, administrative or operational changes (including changes to the definition of "Interest Period", timing and frequency of determining rates and making payments of interest, changes to the definition of "Corresponding Tenor" solely when such tenor is longer than the Interest Period and other administrative matters) that the Issuer or its designee decides may be appropriate to reflect the adoption of such Reference Interest Rate Replacement in a manner substantially consistent with market practice (or, if the Issuer or its designee decides that adoption of any portion of such market practice is not administratively feasible or if the Issuer or its designee determines that no market practice for use of the Reference Interest Rate Replacement exists, in such other manner as the Issuer or its designee determines is reasonably necessary).

  • Reference Interest Rate Replacement Date means the earliest to occur of the following events with respect to the then-current Reference Interest Rate

  • Settlement Rate has the meaning specified in Section 5.1.

  • Market Rental Rate means, at the time of reference, the gross rentable floor space of the Leased Premises multiplied by the greater of: (a) that annual rate of Basic Rent per square foot of gross rentable floor space which is then being quoted by the Landlord for comparable Other Leased Premises (or would then be quoted if comparable Other Leased Premises were then available) or (b) that annual rate of Basic Rent per square foot of gross rentable floor space in effect during the Expiring Term.

  • LIBOR Replacement Date has the meaning specified in Section 3.03(c).

  • Reset Reference Bank Rate means, in relation to a Reset Period and the Reset Determination Date in relation to such Reset Period, the percentage rate determined on the basis of the 5-year Mid-Swap Rate Quotations provided by the Reset Reference Banks to the Agent Bank at approximately 12:00 p.m. (London time) on such Reset Determination Date. If at least three quotations are provided, the Reset Reference Bank Rate will be the arithmetic mean of the quotations provided, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If only two quotations are provided, the Reset Reference Bank Rate will be the arithmetic mean of the quotations provided. If only one quotation is provided, the Reset Reference Bank Rate will be the quotation provided. If no quotations are provided, the Reset Reference Bank Rate for the relevant Reset Period will be (i) in the case of each Reset Period other than the Reset Period commencing on the First Reset Date, the 5-year Mid-Swap Rate in respect of the immediately preceding Reset Period or (ii) in the case of the Reset Period commencing on the First Reset Date, an amount equal to the Initial Interest Rate less the Margin;

  • Benchmark Replacement Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:

  • Replacement Price means the price, determined by Buyer in a commercially reasonable manner, at which Buyer purchases (if at all) substitute SRECs having the same or subsequent Reporting Year as those SRECs not delivered by Seller for the deficiency or, absent such a purchase, the Market Price for such quantity of SRECs at or during the time that Seller fails to deliver the SRECs, provided that the Market Price shall never exceed the solar alternative compliance payment.

  • Current Rate means the applicable basic minimum wage rate for Local Workers by reason of any National or State Statute or Ordinance, prevailing on any date subsequent to the date 28 days prior to the latest date set for submission of Tenders.

  • Market Rate means the rate as prevailing in the market and recommended by the Architect and as approved by the Employer on the basis of cost of materials, labour, plant etc inclusive of any tax, duty, octroi etc. at the time of execution of work.

  • Reset Reference Banks means the principal office in the principal financial centre of the Specified Currency of five major banks in the swap, money, securities or other market most closely connected with the relevant Mid-Swap Rate as selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Fair Market Rental Rate means the fair market value annual rental rate per square foot of Rentable Area that Landlord and its Affiliates and the owners of comparable office building projects in the Xxxx Xxxxx Airport submarket have recently accepted in lease transactions between non-affiliated parties with non-equity tenants for comparable space, for a comparable period of time (“Comparable Transactions”). In any determination of Comparable Transactions, appropriate consideration shall be given to annual rental rates per square foot of Rentable Area, the type of escalation clauses (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), taking into account all rental and other concessions granted in such Comparable Transactions (as well as such concessions to which Tenant may be entitled in this Lease), length of the lease term, size and location of premises being leased, base, shell and core delivery conditions, building standard work letter and/or tenant improvement or refurbishment allowances, if any (taking into account the level of existing Base Building Improvements and tenant improvements in the Premises), free rent periods for construction of new tenant improvements and other generally applicable conditions of tenancy for such Comparable Transactions. The intent is that the Fair Market Rental Rate will reflect the rent and other economic benefits and concessions that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise given in recent Comparable Transactions, as adjusted to reflect the level and type of economic concessions that Landlord may elect to give Tenant hereunder during the Renewal Term, so that Tenant will pay and Landlord will receive a net effective rent equal to the net effective rental rate in Comparable Transactions, after adjusting for any differences between the economic concessions that Landlord is making to Tenant hereunder and the economic concession that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise made in current Comparable Transactions. If, for example, after applying the criteria set forth above, a Comparable Transaction provides a comparable non-equity tenant with comparable space at a base rent equal to Thirty-Two Dollars ($32) per square foot of Rentable Area, with a Ten Dollars ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance, and certain other generally applicable economic terms and/or concessions, the Fair Market Rental Rate shall not be Thirty-Two Dollars ($32) per square foot of Rentable Area only, but shall be the economic equivalent of Thirty-Two Dollars ($32) per square foot of Rentable Area, a Ten Dollar ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance or payment in lieu of such allowance (said allowance or payment to be adjusted to reflect the value of existing improvements in the Premises) and such other generally applicable economic terms and concessions, as adjusted to reflect the concessions (including renovation allowances, free rent or construction periods) if any, granted by Landlord to Tenant during the Renewal Term.

  • Relevant Rate means the Benchmark for a Representative Amount of the Specified Currency for a period (if applicable or appropriate to the Benchmark) equal to the Specified Duration commencing on the Effective Date.

  • Turnover Rate means the period of time (usually in hours) required to circulate a volume of water equal to the pool or spa capacity.

  • Replacement Reference Rate means a reference rate which is:

  • Unadjusted Reference Interest Rate Replacement means the Reference Interest Rate Replacement excluding the Reference Interest Rate Replacement Adjustment.

  • Substitute Rate shall have the meaning set forth in Section 2.2.3(b).

  • Reset Reference Rate means, in relation to a Reset Determination Date and subject to Condition 5(b)(iii) and Condition 5(c)(v), if applicable:

  • Market Disruption Rate means the rate (if any) specified as such in the Reference Rate Terms.

  • Benchmark Replacement means, with respect to any Benchmark Transition Event, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date:

  • Payment Rate means the rate of compensation at which the Insured is indemnified, as determined by AFSC.

  • SOFR Rate means the rate that will be calculated by the Calculation Agent for each Accrual Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided below following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.