OTP Rate definition

OTP Rate is defined as the percentage determined by dividing the number of flight segments not Delayed (as defined below) by the total number of flight segments during the applicable Six Month Period. For purposes of this Agreement, “Delayed” means a flight segment that does not arrive at the destination within 15 minutes after the scheduled arrival time. All Flights will be included for calculating the OTP Rate. A canceled flight (except ones cancelled because of no passengers and the reasons set out in Section 5.4(v)) is a Delayed flight. To the extent that Mesa’s OTP Rate for either Hub Schedule falls below the applicable OTP Rate Threshold for any Six Month Period, Mesa, within 10 days after receipt of written demand, shall pay to AWA the OTP Penalty Amount (as defined below) for each percentage point, or portion thereof, by which Mesa’s OTP Rate for either Hub Schedule falls below the OTP Rate Threshold for such Six Month Period. The “OTP Penalty Amount” for each Hub is an amount equal to [***] times a fraction, the numerator of which is the daily average of Aircraft providing Flight Services to and from the Hub during the applicable Six Month Period and the denominator of which is the daily average of all Aircraft providing Flight Services during the applicable Six Month Period. On each anniversary date of the Contract Date the dollar amounts used for calculating the OTP Penalty Amount shall be increased by the increase in the CPI, as determined in accordance with Section 7.4. AWA, within 10 days after receipt of written demand, shall pay to Mesa [***] for each percentage point, or portion thereof, by which Mesa’s OTP Rate system wide exceeds [***] for any Calendar Quarter. On each anniversary date of the Contract Date, the bonus amount shall be increased by the increase in CPI, as determined in accordance with Section 7.4. “Six Month Period” means each January 1 — June 30 and July 1 — December 31 and “Calendar Quarter” means each 3 calendar month period commencing January 1 of each year.
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OTP Rate shall have the meaning set forth in Section 9.2.
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OTP Rate is defined as the percentage determined by dividing the number of flight segments not Delayed (as defined below) by the total number of flight segments during the applicable Six Month Period. The “Industry’s OTP Rate” shall be the industry standard rate for flights in and out of the Columbus, Ohio airport, calculated in accordance with the methodology set forth on Exhibit F, attached hereto. For purposes of this Agreement, “Delayed” means a flight segment that does not arrive at the destination within 15 minutes after the scheduled arrival time. All Flights will be included for calculating the OTP Rate. A canceled flight (except ones cancelled because of no passengers and the reasons set out in Section 5.4(v)) is a Delayed flight. To the extent that Mesa’s OTP Rate for either Hub Schedule falls below the applicable OTP Rate Threshold for any Six Month Period, Mesa, within 10 days after receipt of written demand, shall pay to AWA the OTP Penalty Amount (as defined below) for each percentage point, or portion thereof, by which Mesa’s OTP Rate for either Hub Schedule falls below the OTP Rate Threshold for such Six Month Period. The “OTP Penalty Amount” for each Hub is an amount equal to [***] times a fraction, the numerator of which is the daily average of Aircraft providing Flight Services to and from the Hub during the applicable Six Month Period and the denominator of which is the daily average of all Aircraft providing Flight Services during the applicable Six Month Period. On Table of Contents
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Examples of OTP Rate in a sentence

  • Within 5 days after the end of each calendar month Mesa shall provide to AWA statements certified by Mesa’s chief financial officer as to Mesa’s OTP Rate and FCF for the prior calendar month and, as applicable, the prior Calendar Quarter and Six Month Period, together with such supporting documentation and information as AWA may request.

  • If AWA’s or its designee’s review of the records or files reveals that Mesa has under or overstated, as applicable, Mesa’s OTP Rate or FCF, then Mesa, upon demand, shall pay all sums due based on the accurate calculations, the actual out-of-pocket costs and expenses of AWA in completing such review and the applicable penalties payable based on such new calculation.

  • If the Cancellation Event relates to Mesa’s OTP Rate, the cure shall be effected by Mesa bringing its OTP Rate for such Hub to a rate that is equal to or above AWA’s OTP Rate at the Phoenix Hub during the Cure Period.

  • If the Cancellation Event relates to Mesa's OTP Rate, the cure shall be effected by Mesa bringing its OTP Rate for such Hub to a rate that is equal to or above AWA's OTP Rate at the Phoenix Hub during the Cure Period.

  • Thus, in calculating Mesa’s DOT Complaint Rate, the MBR, the OTP Rate, the FCF, and all incentives and penalties set forth above, only Flight Services and Other Services performed by Mesa and the Affiliated Service Providers under the service xxxx America West Express shall be taken into account in calculating such rates and assessing such incentives and penalties.

  • Within 5 days after the end of each calendar month Mesa shall provide to AWA statements certified by Mesa's chief financial officer as to Mesa's OTP Rate and FCF for the prior calendar month and, as applicable, the prior Calendar Quarter and Six Month Period, together with such supporting documentation and information as AWA may request.

  • Within 5 business days after the end of each calendar month Frontier and Partner will provide each other with all reports, records and supporting documentation as may reasonably be requested by the other party evidencing the number of Aircraft operating in the Fleet, block hours and departures flown by each Aircraft, and passengers carried by each Aircraft, and Frontier shall provide Partner with statements detailing its OTP Rate and FCF calculations, and, if applicable, MBR, for the prior calendar month.

  • The Parties agree and understand that Delivery Uncontrollable Factors shall occur from time to time that may affect the OTP Rate.

  • Delivery Uncontrollable Factors shall be the exception and not the rule for calculating the OTP Rate.

  • Each party will have 7 business days from the receipt of such information to dispute the characterization of the performance statistics for purposes of calculating the OTP Rate and FCF.


More Definitions of OTP Rate

OTP Rate is defined as the percentage determined by dividing the number of flight segments not Delayed (as defined below) by the total number of flight segments during the applicable Six Month Period. The "Industry's OTP Rate" shall be the industry standard rate for flights in and out of the Columbus, Ohio airport, calculated in accordance with the methodology set forth on Exhibit F, attached hereto. For purposes of this Agreement, "Delayed" means a flight segment that does not arrive at the destination within 15 minutes after the scheduled arrival time. All Flights will be included for calculating the OTP Rate. A canceled flight (except ones cancelled because of no passengers and the reasons set out in Section 5.4(v)) is a Delayed flight. To the extent that Mesa's OTP Rate for either Hub Schedule falls below the applicable OTP Rate Threshold for any Six Month Period, Mesa, within 10 days after receipt of written demand, shall pay to AWA the OTP Penalty Amount (as defined below) for each percentage point, or portion thereof, by which Mesa's OTP Rate for either Hub Schedule falls below the OTP Rate Threshold for such Six Month Period. The "OTP Penalty Amount" for each Hub is an amount equal to [***] times a fraction, the numerator of which is the daily average of Aircraft providing Flight Services to and from the Hub during the applicable Six Month Period and the denominator of which is the daily average of all Aircraft providing Flight Services during the applicable Six Month Period. On each anniversary date of the Contract Date the dollar amounts used for calculating the OTP Penalty Amount shall be increased by the increase in the CPI, as determined in accordance with Section 7.4. AWA, within 10 days after receipt of written demand, shall pay to Mesa [***] for each percentage point, or portion thereof, by which Mesa's OTP Rate system wide exceeds [***] for any Calendar Quarter. On each anniversary date of the Contract Date, the bonus amount shall be increased by the increase in CPI, as determined in accordance with Section 7.4. "Six Month Period" means each January 1 - June 30 and July 1 - December 31 and "Calendar Quarter" means each 3 calendar month period commencing January 1 of each year.
Sample 1
OTP Rate is defined as the percentage determined by dividing the number of flight segments not Delayed (defined below) by the total number of flight segments for any calendar month. For purposes of this Agreement, "Delayed" means a flight segment that does not arrive at the destination within 15 minutes after the scheduled arrival time. All flights will be included for calculating the OTP Rate, except Flights that are delayed as a result of events or circumstances beyond the control of CAI, its employees, agents, contractors or subcontractors, including, without limitation, air traffic control delays, weather, the acts or omissions of AWA, its employees, agents or contractors and acts of God. For purposes of the prior sentence, all Aircraft maintenance and repair events or circumstances shall be deemed to be within CAI's control. [*] A flight delayed at AWA's request to accommodate connecting passengers is not a Delayed Flight. To the extent that CAI's OTP Rate falls below the OTP Rate Target for any calendar month, CAI, within 10 days after receipt of written demand, shall pay to AWA the penalty set forth on Exhibit B. To the extent CAI's OTP Rate exceeds the OTP Rate Target set forth on Exhibit B for any calendar month, AWA, within 10 days after receipt of written demand, shall pay the bonus set forth on Exhibit B. ---------- * Confidential 8
Sample 1
OTP Rate is defined as the [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] (defined below) [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION]. For purposes of this Agreement, "Delayed" means a flight segment that does not arrive at the destination within [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] after the scheduled arrival time. [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] To the extent that Mesa's OTP Rate [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] the OTP Rate Threshold for [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION], within [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] after receipt of written demand, shall [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION], If Mesa's OTP Rate [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] the OTP Rate Threshold in [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION], then Mesa, within [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] after receipt of written demand, [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION]: (i) [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION]; and (ii) [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION], by which Mesa's OTP Rate [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] the OTP Rate Threshold. AWA, within [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] after receipt of written demand, shall pay to Mesa [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] for each [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION], or [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION], by which Mesa's OTP Rate [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION].
Sample 1
OTP Rate is defined as the percentage, rounded down to the nearest full percentage point if the percentage point(s) fractional amount is .49 or less and rounded up to the nearest full percentage point if the fractional amount is .50 or greater (for example .49 is rounded down to 0.00, 1.49 is rounded down to 1.0, and 1.50 is rounded up to 2.0), determined by dividing the number of Flights not Delayed (as defined below) by the total number of Flights flown by Partner pursuant to a Schedule during the applicable period. For purposes of this Agreement, "Delayed" means a Flight that does not arrive at the destination within 15 minutes after the scheduled arrival time due to matters within Partner's Control. All Flights will be included for calculating the OTP Rate. A cancelled flight (except Flights cancelled because of no passengers, Flights cancelled by Frontier for any reason, Flights cancelled for reasons not within Partner's Control, and the reasons set out in Section 4.2) is a Delayed flight. If Partner's OTP Rate exceeds the lower of (i) Frontier's OTP Rate, or (ii) [***] (the "OTP Bonus Threshold") for any given month, Frontier shall pay Partner a performance bonus in an amount equal to [***] for each full percentage point over the OTP Bonus Threshold, provided, no such bonus will be payable from the time of a OTP Cancellation Event and during the OTP Cure Period described in Section 7.3 herein. If Partner's OTP Rate falls below the lower of (i) Frontier's OTP Rate, or (ii) [***] (the "OTP Penalty Threshold") for any given month, Partner shall pay to Frontier a performance penalty in the amount of [***] for each full percentage point below the OTP Penalty Threshold. Amounts payable in this Section shall be made within 10 business days of receiving the statements provided for in Section 4.6.
Sample 1

Related to OTP Rate

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • 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.

  • Cap Rate For each Calculation Period, as set forth for such period on Schedule I attached hereto. Floating Rate for initial Calculation Period: To be determined Floating Rate Day Count Fraction: Actual/360 Floating Rate Option: USD-LIBOR-BBA, provided, however, if the Floating Rate Option for a Calculation Period is greater than 10.00% then the Floating Rate Option for such Calculation Period shall be deemed equal to 10.00%.

  • Adjusted CD Rate has the meaning set forth in Section 2.07(b).

  • Repo Rate on any day means the highest interest rate available to a Lender from investment in overnight repurchase agreements.

  • Curr Rate CLTV: Prin Bal: Maturity Date: Lien Pos: 4096851 CA 300 14 131995.17 52000 586.09 701 409685100000000 8 299 1 152000 12/07/2000 42 XXXXXXXXX 00000 2 12.990 122 51976.81 12/13/2025 2 4096852 WI 300 14 114701.82 47200 586.31 669 409685200000000 8 299 1 143000 12/07/2000 46 KENOSHA 53143 2 14.500 114 47184.02 12/13/2025 2 4096853 NY 180 14 71476 18000 227.63 701 409685300000000 6 179 1 71900 12/07/2000 40 SYRACUSE 13212 2 12.990 125 17967.22 12/13/2015 2 4096854 LA 180 14 74040.09 25000 349.73 663 409685400000000 6 179 1 82000 12/07/2000 00 XXXX XXXXXX 00000 2 14.990 121 24962.56 12/13/2015 2 4096857 MO 301 14 152510.3 44500 561.36 685 409685700000000 8 299 1 160000 11/30/2000 47 O'FALLON 63366 2 14.750 124 44485.62 12/08/2025 2 4096858 MI 240 14 143231.7 50000 649.18 684 409685800000000 9 239 1 160000 12/07/2000 47 XXXXXXXXXX XXXXX 00000 2 14.750 121 49965.4 12/13/2020 2 4096859 MN 300 14 144985.47 39600 499.55 675 409685900000000 8 299 1 152000 12/05/2000 45 XXXXXX XXXX 00000 2 14.750 122 39587.2 12/11/2025 2 4096860 NY 300 14 61663 25000 320.02 662 409686000000000 8 299 1 73000 12/07/2000 37 NEWBURGH 12550 2 14.990 119 24992.27 12/13/2025 2 4096861 GA 300 14 105425.2 35000 421.05 682 409686100000000 8 299 1 145000 12/04/2000 46 XXXXX XXXXX 00000 2 13.990 97 34986.99 12/08/2025 2 4096862 CA 180 14 139196.02 48950 639.61 719 409686200000000 6 179 1 172500 12/07/2000 40 MANTECA 95337 2 13.630 110 48865.79 12/13/2015 2 4096863 RI 300 14 73031.81 45500 534.7 704 409686300000000 8 299 1 95000 12/06/2000 45 WARWICK 2889 2 13.630 125 45481.91 12/12/2025 2 4096864 TN 180 4 67449.68 26500 407.65 644 409686400000000 6 179 1 79000 12/07/2000 37 XXXXXXX CITY 37615 2 16.990 119 26467.55 12/13/2015 2 4096866 ND 180 14 82471.06 35000 477.93 686 409686600000000 6 179 1 100000 12/04/2000 39 NORWICH 58768 2 14.500 118 34944.99 12/08/2015 2 4096867 MO 180 14 100576 35000 538.41 641 409686700000000 6 179 1 118500 12/05/2000 40 LEES SUMMIT 64081 2 16.990 115 34957.13 12/11/2015 2 4096868 IL 300 14 126816.92 40500 479.79 664 409686800000000 8 299 1 134000 12/06/2000 50 ALGONQUIN 60102 2 13.750 125 40364.06 12/13/2025 2 4096869 WA 180 14 127607.19 47300 661.69 665 409686900000000 6 179 1 140000 12/05/2000 44 RICHLAND 99352 2 14.990 125 47225.86 12/11/2015 2 Page 242 of 409

  • Daily LIBOR Rate means, for any day, the rate per annum determined by the Agent by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the Reserve Percentage.

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • CP Rate means, for any Conduit Purchaser and for any Yield Period for any Portion of Capital (a) the per annum rate equivalent to the weighted average cost (as determined by the applicable Purchaser Agent and which shall include commissions of placement agents and dealers, incremental carrying costs incurred with respect to Notes of such Person maturing on dates other than those on which corresponding funds are received by such Conduit Purchaser, other borrowings by such Conduit Purchaser (other than under any Program Support Agreement) and any other costs associated with the issuance of Notes) of or related to the issuance of Notes that are allocated, in whole or in part, by the applicable Purchaser Agent to fund or maintain such Portion of Capital (and which may be also allocated in part to the funding of other assets of such Conduit Purchaser); provided, however, that if any component of such rate is a discount rate, in calculating the “CP Rate” for such Portion of Capital for such Yield Period, the applicable Purchaser Agent shall for such component use the rate resulting from converting such discount rate to an interest bearing equivalent rate per annum; provided, further, that notwithstanding anything in this Agreement or the other Transaction Documents to the contrary, the Seller agrees that any amounts payable to the Purchasers in respect of Discount for any Yield Period with respect to any Portion of Capital funded by such Purchaser at the CP Rate shall include an amount equal to the portion of the face amount of the outstanding Notes issued to fund or maintain such Portion of Capital that corresponds to the portion of the proceeds of such Notes that was used to pay the interest component of maturing Notes issued to fund or maintain such Portion of Capital, to the extent that such Purchaser had not received payments of interest in respect of such interest component prior to the maturity date of such maturing Notes (for purposes of the foregoing, the “interest component” of Notes equals the excess of the face amount thereof over the net proceeds received by such Purchaser from the issuance of Notes, except that if such Notes are issued on an interest-bearing basis its “interest component” will equal the amount of interest accruing on such Notes through maturity) or (b) any other rate designated as the “CP Rate” for such Conduit Purchaser in an Assumption Agreement or Transfer Supplement pursuant to which such Person becomes a party as a Conduit Purchaser to this Agreement, or any other writing or agreement provided by such Conduit Purchaser to the Seller, the Servicer and the applicable Purchaser Agent from time to time. The “CP Rate” for any day while a Termination Event or an Unmatured Termination Event exists shall be an interest rate equal to 2.0% per annum above the Base Rate as in effect on such day.

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by Xxxxx Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • CMS Rate means the applicable swap rate for swap transactions in the Reference Currency with a maturity of the Designated Maturity, expressed as a percentage, which appears on the Relevant Screen Page as at the Specified Time on the relevant Interest Determination Date in question, all as determined by the Calculation Agent.

  • 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.

  • Treasury Index Rate means the average yield to maturity for actively traded marketable U.S. Treasury fixed interest rate securities having the same number of 30-day periods to maturity as the length of the applicable Dividend Period, determined, to the extent necessary, by linear interpolation based upon the yield for such securities having the next shorter and next longer number of 30-day periods to maturity treating all Dividend Periods with a length greater than the longest maturity for such securities as having a length equal to such longest maturity, in all cases based upon data set forth in the most recent weekly statistical release published by the Board of Governors of the Federal Reserve System (currently in H.15 (519)); provided, however, if the most recent such statistical release shall not have been published during the 15 days preceding the date of computation, the foregoing computations shall be based upon the average of comparable data as quoted to the Trust by at least three recognized dealers in U.S. government securities selected by the Trust.

  • Swap Rate means a charge by the Company for the interest cost and associated costs (positive or negative) incurred in relation to the overnight rollover (s) of an open position;

  • Adjusted Eurodollar Rate means for any Interest Period with respect to any Eurodollar Loan, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to (a) the Eurodollar Rate for such Interest Period multiplied by (b) the Statutory Reserves.

  • Adjusted LIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.

  • Base LIBOR Rate means the rate per annum, determined by Agent in accordance with its customary procedures, and utilizing such electronic or other quotation sources as it considers appropriate (rounded upwards, if necessary, to the next 1/16%), on the basis of the rates at which Dollar deposits are offered to major banks in the London interbank market on or about 11:00 a.m. (California time) 2 Business Days prior to the commencement of the applicable Interest Period, for a term and in amounts comparable to the Interest Period and amount of the LIBOR Rate Loan requested by Administrative Borrower in accordance with this Agreement, which determination shall be conclusive in the absence of manifest error.

  • LIBOR Rate means a rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%) determined by the Administrative Agent pursuant to the following formula: LIBOR Rate = LIBOR

  • Applicable LIBOR Rate means, (a) for Auction Periods of 35 days or less, One-Month LIBOR, (b) for Auction Periods of more than 35 days but less than 91 days, Three-Month LIBOR, (c) for Auction Periods of more than 90 days but less than 181 days, Six-Month LIBOR, and (d) for Auction Periods of more than 180 days, One-Year LIBOR.

  • Adjusted One Month LIBOR Rate means, an interest rate per annum equal to the sum of (i) 1.00% per annum plus (ii) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the Screen Rate at approximately 11:00 a.m. London time on such day.

  • Fallback Rate means, where a Permanent Discontinuation Trigger for an Applicable Benchmark Rate has occurred, the rate that applies to replace that Applicable Benchmark Rate in accordance with Condition 5.3(b)(i)(B);

  • Index Rate means, for any day, a floating rate equal to the higher of (i) the rate publicly quoted from time to time by The Wall Street Journal as the "base rate on corporate loans posted by at least 75% of the nation's 30 largest banks" (or, if The Wall Street Journal ceases quoting a base rate of the type described, the highest per annum rate of interest published by the Federal Reserve Board in Federal Reserve statistical release H.15 (519) entitled "Selected Interest Rates" as the Bank prime loan rate or its equivalent), and (ii) the Federal Funds Rate plus 50 basis points per annum. Each change in any interest rate provided for in the Agreement based upon the Index Rate shall take effect at the time of such change in the Index Rate.

  • Adjusted Net Mortgage Rate As to each Mortgage Loan and at any time, the per annum rate equal to the Mortgage Rate less the Expense Fee Rate.

  • Mid-Swap Rate means, in relation to a Reset Determination Date and subject to Condition 4(b)(ii), either:

  • Weighted Average Adjusted Net Mortgage Rate For any Distribution Date and Loan Group, the average of the Adjusted Net Mortgage Rate of each Mortgage Loan in that Loan Group, weighted on the basis of its Stated Principal Balance as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date).

  • LIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period, the rate appearing on Page 3750 of the Telerate Service (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the "LIBO Rate" with respect to such Eurodollar Borrowing for such Interest Period shall be the rate at which dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period.