Rate Conversion definition

Rate Conversion refers to a conversion pursuant to Section 3.1(h) of Loans of one Type into Loans of another Type and, with respect to LIBOR Loans, from one permissible Interest Period to another permissible Interest Period.

Rate Conversion. Defined in Section 12.01(a).

Rate Conversion means the conversion of the Loans from Term SOFR Loans to either Prime Rate Loans or Alternate Rate Loans, or from Prime Rate Loans to Term SOFR Loans or Alternate Rate Loans in accordance with Section 2.04.

Examples of Rate Conversion in a sentence

• If Reset Reference Rate Conversion is specified in the applicable Final Terms as being applicable, the First Reset Rate and, if applicable, each Subsequent Reset Rate will be converted from the Original Reset Reference Rate Payment Basis to a basis which matches the per annum frequency of Interest Payment Dates in respect of the Notes (such calculation to be determined by the Issuer in conjunction with a leading financial institution selected by it).

• The Borrower may also request the modification of the Amortization Schedule in the case of a Currency Conversion or an Interest Rate Conversion, as set forth in Articles 5.03 and 5.04 of these General Conditions.

• In connection with the implementation of a Benchmark Replacement or any Rate Conversion, Buyer will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Repurchase Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of Seller or any other party to this Agreement or any other Repurchase Document.

• Any notice of Rate Conversion delivered by Buyer as described in the preceding clause (i) shall specify the Applicable SOFR designated by Buyer with respect to each such converted Transaction, which designation shall be conclusive and binding on Seller for all purposes of this Agreement.

• If Mid-Swap Rate Conversion is so specified as being applicable, the First Reset Rate of Interest and, if applicable, each Subsequent Reset Rate of Interest will be converted from the Original Mid-Swap Rate Basis specified in the relevant Final Terms or Pricing Supplement to a basis which matches the per annum frequency of Interest Payment Dates in respect of the relevant Notes (such calculation to be determined by the Issuer in conjunction with a leading financial institution selected by it).

More Definitions of Rate Conversion

Rate Conversion shall have the meaning set forth in Section 2.2.7(g) hereof.

Rate Conversion. CONTINUATION REQUEST" shall have the meaning assigned to such term in Section 3.l(h).

Rate Conversion is defined in Section 2.7(F).

Rate Conversion means the conversion, on or before the first anniversary of the Drawdown Date of Tranche B and otherwise on terms acceptable to the Facility Agent in all respects, of the rate of hire payable to Borrower B under its Acceptable Charter to a fixed daily rate of at least $5,400 net of any commissions.

Rate Conversion. A conversion pursuant to Section 2.1(B) of a Revolving Loan of one Type into a Revolving Loan of another Type and, with respect to LIBOR Loans, from one permissible Interest Period to another permissible Interest Period. Rate Conversion/Continuation Request: A request for Rate Conversion or Rate Continuation made pursuant to Section 2.1(B).

Rate Conversion means a conversion pursuant to Section 2.10 of this Agreement of Advances of one Type into Advances of another Type and, with respect to LIBOR Advances, from one permissible Interest Period to another permissible Interest Period.

Rate Conversion refers to a conversion pursuant to Section 3.1(h) of Loans of one Type into Loans of another Type and, with respect to LIBORTerm SOFR Rate Loans, from one permissible Interest Period to another permissible Interest Period. ​