Reference Rate Modifier definition

Reference Rate Modifier. A modifier, other than the Benchmark Replacement Adjustment, recognized or acknowledged by the Loan Syndications and Trading Association or the Alternative Reference Rate Committee convened by the Federal Reserve that is applied to a reference rate to the extent necessary to cause such rate to be comparable to Term SOFR Rate, which may include an addition to or subtraction from such unadjusted rate.

Reference Rate Modifier means a modifier, other than the Benchmark Replacement Adjustment, applied to a reference rate to the extent necessary to cause such rate to be comparable to the three-month LIBOR, which may include an addition to or subtraction from such unadjusted rate.

Reference Rate Modifier means a modifier applied to a reference rate in order to cause such rate to be comparable to LIBOR, which may include an addition to or subtraction from such unadjusted rate."

Examples of Reference Rate Modifier in a sentence

• The modifier recognized or acknowledged by LSTA or the ARRC, as applicable, that is applied to a reference rate in order to cause such rate to be comparable to three-month Libor, which may consist of an addition to or subtraction from such unadjusted rate; provided that if no such modifier exists, the Reference Rate Modifier shall be zero.

• A supplemental indenture to elect a non-LIBOR Reference Rate with respect to the Floating Rate Notes (and make related changes advisable or necessary to implement the use of such replacement rate, including any Reference Rate Modifier) pursuant to Section 8.1(a)(xxv).

• A supplemental indenture to elect a non-LIBOR Reference Rate (other than a Designated Reference Rate) with respect to the Floating Rate Notes (and make related changes advisable or necessary to implement the use of such replacement rate, including any Reference Rate Modifier) (an “Alternate Base Rate”).

• If there is no such modifier, the Reference Rate Modifier shall be zero.

• Any of the following (a) the reference rate recognized or acknowledged as being the industry standard for leveraged loans (which recognition may be in the form of a press release, a member announcement, a member advice, letter, protocol, publication of standard terms or otherwise) by the LSTA or the ARRC, which in either case may include a Reference Rate Modifier recognized or acknowledged by the LSTA or the ARRC, respectively or (b) a Market Replacement Reference Rate.

• The reference rate adopted in a Reference Rate Amendment, which may include a Reference Rate Modifier.

• A supplemental indenture to elect a non-LIBOR Reference Rate with respect to the Floating Rate Notes (and make related changes advisable ornecessary to implement the use of such replacement rate, including any Reference Rate Modifier) pursuant to Section 8.1(a)(xxv).

• A supplemental indenture to elect a non-LIBOR Reference Rate with respect to the Rated Notes (and make related changes advisable or necessary to implement the use of such replacement rate, including any Reference Rate Modifier) pursuant to Section 8.1(d).

• A single reference rate (which may include a Reference Rate Modifier) that is used in calculating the interest rate of at least 50% of the par amount of (a) quarterly pay Floating Rate Obligations or (b) floating rate notes issued in the preceding three months in new issue collateralized loan obligation transactions, in each case as determined by the Portfolio Manager as of the first day of the Interest Accrual Period during which the Reference Rate Amendment is proposed.

• For the avoidance of doubt, Producer shall have no right to adjust, compromise or settle a claim or waive a policy condition.

More Definitions of Reference Rate Modifier

Reference Rate Modifier. A modifier, as determined by the Asset Manager, other than the Benchmark Replacement Adjustment, applied to a reference rate to the extent necessary to cause such rate to be comparable to the three-month Term SOFR, which may include an addition to or subtraction from such unadjusted rate.

Reference Rate Modifier means any modifier recognized or acknowledged by the Loan Syndication and Trading Association or the Alternative Reference Rate Committee convened by the Federal Reserve that is applied to a reference rate in order to cause such rate to be comparable to three-month Libor, the application of which may result in an increase or reduction to (or no change to) such unadjusted rate. For the avoidance of doubt, to the extent the Reference Rate Modifier does not exist, it will be zero or have no effect, as the case may be, for purposes of this definition.

Reference Rate Modifier. Any modifier recognized or acknowledged by the LSTA or ARRC, as applicable, that is selected by the Collateral Manager and applied to the Designated Alternative Rate in order to cause such rate to be comparable to 3 month LIBOR, which may consist of an addition to or subtraction from such unadjusted rate. For the avoidance of doubt, any Reference Rate Modifier recognized or acknowledged by the LSTA will only be applicable to the extent the Alternative Rate is the rate recommended by the LSTA, and any Reference Rate Modifier recognized or acknowledged by the ARRC will only be applicable to the extent the Alternative Rate is the rate recommended by the ARRC.

Reference Rate Modifier. Any modifier recognized or acknowledged by the LSTA or ARRC, as applicable, that is selected by the Collateral Manager and applied to the Designated Alternative Rate in order to cause such rate to be comparable to 3 month LIBOR, which may consist of an addition to or subtraction from such unadjusted rate. For the avoidance of doubt, any Reference Rate Modifier recognized or acknowledged by the LSTA will only be applicable to the extent the Alternative Rate is the rate recommended by the LSTA, and any Reference Rate Modifier recognized or acknowledged by the ARRC will only be applicable to the extent the Alternative Rate is the rate recommended by the ARRC. Floor Obligation”: As of any date, a Floating Rate Obligation (a) for which the related Underlying Instruments allow a rate option with respect to London interbank offered rate or other applicable reference rate, (b) that

Reference Rate Modifier means a modifier, other than the Benchmark Replacement Adjustment, recognized or acknowledged by the Loan Syndication and Trading Association or the Alternative Reference Rates Committee convened by the Federal Reserve that is applied to a reference rate to the extent necessary to cause such rate to be comparable to the three-month LIBORthen-current Benchmark, which may include an addition to or subtraction from such unadjusted rate.

Reference Rate Modifier means any modifier recognised or acknowledged by the LMA, AFME or the LSTA, as applicable, that is applied to a reference rate in order to cause such rate to be comparable to 3-month EURIBOR or, following the occurrence of a Frequency Switch Event, 6-month EURIBOR, which may consist of an addition to or subtraction from such unadjusted rate.  Condition 19(c) (Agent for Service of Process) is amended by deleting “TMF Corporate Services Limited” and replacing it with “TMF Global Services (UK) Ltd”. Amendments to the Investment Management Agreement in respect of the Refinancing Notes In connection with the Refinancing, the Issuer intends to make the following amendments to the Investment Management Agreement pursuant to a deed of amendment (the “Amendment Deed”). The Amendment Deed shall take effect immediately following the redemption of the Refinanced Notes and immediately prior to the issuance of the Refinancing Notes.  The definition of “Weighted Average Life Test” shall be deleted and replaced with the following:The “Weighted Average Life Test” will be satisfied on any Measurement Date if the Weighted Average Life as of such date is less than or equal to the number of years (rounded up to the nearest one hundredth thereof) during the period from such Measurement Date to 21 July 2025.  Schedule 5 (Reinvestment Criteria) shall be amended by deleting paragraph (f) of the criteria set out under “Following the Expiry of the Reinvestment Period” and replacing it with the following: (f) either: (A) the Portfolio Profile Tests and the Collateral Quality Tests (except the Moody’s Maximum Weighted Average Rating Factor Test, the Weighted Average Life Test and the Moody’s Minimum Diversity Test) are satisfied; or (B) if any such test was not satisfied such test will be maintained or improved after giving effect to such reinvestment when compared with the results of such tests immediately prior to the sale or prepayment (in whole or in part) of the relevant Collateral Debt Obligation;  Schedule 7 (Fitch Test Matrices) is deleted and replaced with the following:Fitch Tests MatricesSubject to the provisions provided below, the Investment Manager will have the option to elect which of the cases set out in the matrices set out below (each such matrix to have a different concentration limit for the largest 10 Obligors by Principal Balance applicable to it) (each a “Fitch Tests Matrix” and together the “Fitch Tests Matrices”) shall be applicable for purposes of the Fi...