Minimum Applicable Rate definition

Minimum Applicable Rate means, on any Auction Date with respect to a Dividend Period of 93 days or fewer, 80% of the AA Composite Commercial Paper Rate at the close of business on the Business Day next preceding such Auction Date. There shall be no Minimum Applicable Rate on any Auction Date with respect to a Dividend Period of more than 93 days.
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Minimum Applicable Rate. , on any Auction Date, shall mean 58% of the 60-day “AA” Composite Commercial Paper Rate in effect on the date of such Auction.
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Minimum Applicable Rate with respect to any date means (i) with respect to an Auction relating to a Long-Term Distribution Period or a Short-Term Distribution Period of 184 days or more, 58% of the Treasury Index Rate at the close of business on the Business Day next preceding the related Auction Date and (ii) with respect to an Auction relating to a Short-Term Distribution Period of less than 184 days, 58% of the Commercial Paper Rate at the close of business on the Business Day next preceding the related Auction Date.
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Examples of Minimum Applicable Rate in a sentence

  • The Minimum Applicable Rate, if any, will apply automatically following an Auction in which all of the Outstanding shares of the relevant series of ATP are subject (or are deemed to be subject) to Hold Orders or Hold/Sell Orders.

  • Date Event -------------------- ----- By 9:30 A.M. Trust Company advises Company and Broker-Dealers of 60-day "AA" Composite Commercial Paper Rate, the Minimum Applicable Rate and the Maximum Applicable Rate as set forth in Section 2.2 (a) hereof.

  • With respect to a Dividend Period of 93 days or fewer, the Minimum Applicable Rate will apply automatically following an Auction in which all of the Outstanding shares of ATP Series C are subject (or are deemed to be subject) to Hold Orders.

  • If all of the Preferred Securities are subject to Submitted Hold Orders, there will be no Available Preferred Securities and the Applicable Rate for the next Distribution Period will be the Minimum Applicable Rate on such Auction Date determined by the Auction Agent in consultation with the Administrative Trustees.

  • Time on Auction Date Event -------------------- ----- Between 9:30 A.M. Trust Company advises the Company and Broker-Dealers of 60-day "AA" Composite Commercial Paper Rate, the Minimum Applicable Rate and Maximum Applicable Rate as set forth in Section 2.2(d)(i) hereof.

  • Time on Auction Date Event By 9:30 A.M. Trust Company advises Company and Broker-Dealers of 60-day "AA" Composite Commercial Paper Rate, the Minimum Applicable Rate and the Maximum Applicable Rate as set forth in Section 2.2 (a) hereof.

  • If all Existing Holders submit (or are deemed to have submitted) Hold Orders, the Minimum Applicable Rate will apply (90% of the 30-day "AA" Composite Commercial Paper Rate in effect at the close of business on the Business Day next preceding the applicable Auction Date).

  • The Applicable Rate that results from an Auction will not be lower than 90% (the "Minimum Applicable Rate") or greater than 175% (the "Maximum Applicable Rate") of the 30-day "AA" Composite Commercial Paper Rate at the close of business on the Business Day next preceding the applicable Auction Date.


More Definitions of Minimum Applicable Rate

Minimum Applicable Rate means 4% per annum.
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Minimum Applicable Rate for any Auction Date means 59% of the 60-day "AA" Composite Commercial Paper Rate in effect on such Auction Date.
Sample 1
Minimum Applicable Rate means, on any Auction Date with respect to a Dividend Period of 93 days or fewer, 80% of the AA Composite Commercial Paper Rate at the close of business on the Business Day next preceding such Auction Date. There shall be no Minimum Applicable Rate on any Auction Date with respect to a Dividend Period of more than 93 days." FOURTH: Part I of the Articles Supplementary to the Fund's Articles of Amendment and Restatement, as heretofore amended, is hereby further amended by adding new Section 18 (nn)(iv) as follows:
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Related to Minimum Applicable Rate

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Applicable Rate means a percentage per annum equal to:

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • Base Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Applicable Base Rate Margin means, on any day, a rate per annum equal to the higher of (a) the Applicable Eurocurrency Margin for such day minus 1.00% and (b) 0.00%.

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: II 10.0 V 17.5

  • Applicable Commitment Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Applicable ABR Margin means, at any date:

  • Applicable Reference Rate means, collectively or individually, Term SOFR, Daily Compounded XXXXX, XXXXX or the EURIBOR Rate.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • Applicable Rating means the rating assigned to each Class of the Series 2016-T1 Notes by the Note Rating Agency, upon the issuance of such Class as set forth below:

  • Hurdle Rate means the minimum annual rate of return over the Net Asset Value at launch, or the beginning of the relevant Performance Period, as applicable, that must be achieved before an Equalisation Performance Fee is applied (details of which are set out in the section headed “Unit Class Information” in the Supplement for the relevant Fund where applicable). This rate is accrued at each Valuation Point.

  • Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.68%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Applicable Rating Level at any time and for any Borrower shall be determined in accordance with the then-applicable S&P Rating and the then-applicable Xxxxx’x Rating for such Borrower as follows: S&P Rating A or higher or Xxxxx’x Rating A2 or higher 1 S&P Rating A- or higher or Xxxxx’x Rating A3 or higher 2 S&P Rating BBB+ or Xxxxx’x Rating Baa1 3 S&P Rating BBB or Xxxxx’x Rating Baa2 4 S&P Rating BBB- or Xxxxx’x Rating Baa3 5 S&P Rating BB+ or below or Xxxxx’x Rating Ba1 or below, or no S&P Rating or Xxxxx’x Rating 6 The Applicable Rating Level for any Borrower and for any day shall be determined based upon the higher of the S&P Rating and the Xxxxx’x Rating for such Borrower in effect on such day. If the S&P Rating and the Xxxxx’x Rating are not the same (i.e., a “split rating”), the higher of such ratings shall control, unless (i) the ratings differ by more than one level, in which case the rating one level below the higher of the two ratings shall control, or (ii) either rating is below BBB- or Baa3 (as applicable), in which case the lower of the two ratings shall control.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period:

  • Applicable Revolver LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment at such time as set forth in the Pricing Schedule.

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Applicable Margins means collectively the Applicable L/C Margin, the Applicable Unused Line Fee Margin, the Applicable Revolver Index Margin and the Applicable Revolver LIBOR Margin.

  • ABR Margin as defined in subsection 2.21.

  • Applicable Revolving Commitment Fee Percentage means (a) from the Closing Date until the date of delivery of the Compliance Certificate and the financial statements for the second full Fiscal Quarter after the Closing Date, a percentage, per annum, determined by reference to the following table as if the Leverage Ratio then in effect were 3.00:1.00; and (b) thereafter, a percentage, per annum, determined by reference to the Leverage Ratio in effect from time to time as set forth below: >3.00:1.00 0.75% 1.30% <3.00:1.00 >2.50:1.00 0.75% 1.20% No change in the Applicable Revolving Commitment Fee Percentage shall be effective until three (3) Business Days after the date on which the Administrative Agent has received the applicable financial statements and a Compliance Certificate pursuant to Section 5.01(c) calculating the Leverage Ratio. At any time the Borrower Representative has not submitted to the Administrative Agent the applicable information as and when required under Section 5.01(c), the Applicable Revolving Commitment Fee Percentage shall be determined as if the Leverage Ratio were in excess of 3.00:1.00. Promptly following receipt of the applicable information under Section 5.01(c), the Administrative Agent shall give each Lender telefacsimile or telephonic notice (confirmed in writing) of the Applicable Revolving Commitment Fee Percentage in effect from such date. In the event that any financial statement or certificate delivered pursuant to Section 5.01 is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher Applicable Revolving Commitment Fee Percentage for any Applicable Period than the Applicable Revolving Commitment Fee Percentage applied for such Applicable Period, then (i) the Borrower Representative shall immediately deliver to the Administrative Agent a correct certificate required by Section 5.01 for such Applicable Period, (ii) the Applicable Revolving Commitment Fee Percentage shall be recalculated with the Leverage Ratio at the corrected level and (iii) each applicable Borrower shall immediately pay to the Administrative Agent the accrued additional fees owing as a result of such increased Applicable Revolving Commitment Fee Percentage for such Applicable Period. Nothing in this definition shall limit the right of the Administrative Agent or any Lender under Section 2.10 or Article VIII and the provisions of this definition shall survive the termination of this Agreement.

  • Maximum Advance Rate means 80.0%.