Reference Rate Replacement definition

Reference Rate Replacement means, for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Reference Rate Replacement Date; provided that, in the case of any Advance denominated in an Eligible Currency other than USD, "Reference Rate Replacement" shall mean the alternative set forth in clause (3) below:
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Reference Rate Replacement means, with respect to any Reference Rate Transition Event, an alternate reference rate that has been selected by the Administrative Agent and the Issuer, each of which agree, in good faith, to establish an alternate reference rate of interest to One-Month Term SOFR that gives due consideration to the then prevailing market convention for determining a rate of interest for middle-market loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable; provided, further that, until such alternate rate of interest is agreed upon by the Administrative Agent and the Issuer, the Reference Rate for purposes hereof and of each other Notes Document shall be the Wall Street Journal Prime Rate.
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Examples of Reference Rate Replacement in a sentence

  • With respect to the Class A-1 Notes, the greater of (x) zero and (y) (i) LIBOR, (ii) the Designated Reference Rate designated by the Collateral Manager in accordance with the definition thereof or (iii) the Reference Rate Replacement Rate adopted in a Reference Rate Amendment.

  • The Collateral Manager shall provide notice of the Reference Rate Replacement Date to the Trustee, Collateral Administrator and Calculation Agent.

  • If the Issuer determines on or prior to the relevant Reference Time that a SOFR Reference Rate Event and the related SOFR Reference Rate Replacement Date have occurred with respect to the then-current SOFR Reference Rate, the SOFR Reference Rate Replacement will replace the then-current SOFR Reference Rate for all purposes relating to the Notes in respect of all determinations on such date and for all determinations on all subsequent dates.

  • With respect to (a) the Notes, the greater of (I) zero and (II) (i) LIBOR, (ii) the Designated Reference Rate or (iii) the Reference Rate Replacement Rate adopted in a Reference Rate Amendment and (b) Collateral Obligations, the reference rate calculated in accordance with the related Reference Instruments.

  • This Condition 5(c)(v) is applicable to the Notes only if (i) the Reset Note Provisions are specified in the relevant Pricing Supplement, as being applicable and Mid-Swap Rate is specified in the relevant Pricing Supplement, as the Reset Reference Rate, or (ii) the Floating Rate Note Provisions are specified in the relevant Pricing Supplement and if Reference Rate Replacement is also specified in the relevant Pricing Supplement.

  • Each U.S. Term B-4 Lender hereby consents to the Reference Rate Replacement Amendments (it being understood and agreed that such consent shall be binding on each such U.S. Term B-4 Lender’s successors or assigns and such successors or assigns shall in turn be deemed to have consented to such amendments).

  • The following Benchmark Discontinuation and Reference Rate Replacement provisions in this Condition 6.7(I) apply to all Floating Rate Notes other than those for which the Reference Rate is SOFR and Condition 6.7(II) is specified in the applicable Final Terms.

  • The Rate of Interest payable from time to time in respect of Floating Rate Covered Bonds will be determined in the manner described further in subparagraph (A), subparagraph (B) or subparagraph (C) below, as determined in the applicable Final Terms and subject to Condition 4(d) (Reference Rate Replacement).

  • The Issuer shall, subject to giving notice thereof in accordance with Condition 5(b)(iii)(E)(4), without anyrequirement for the consent or approval of Noteholders, vary these Conditions to give effect to such SOFR Reference Rate Replacement Conforming Changes with effect from the date specified in such notice.

  • This Condition 5(c)(v) is applicable to the Notes only if (i) the Reset Note Provisions are specified in the relevant Final Terms, as being applicable and Mid-Swap Rate is specified in the relevant Final Terms, as the Reset Reference Rate, or (ii) the Floating Rate Note Provisions are specified in the relevant Final Terms and if Reference Rate Replacement is also specified in the relevant Final Terms.

Related to Reference Rate Replacement

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

  • 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:

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

  • 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).

  • Replacement Reference Rate means a reference rate which is:

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Reference Rate means the rate specified as such hereon.

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

  • Reference Bond Rate means, with respect to any date of redemption, the rate per annum equal to the annual or semi-annual yield (as the case may be) to maturity or interpolated yield to maturity (on the relevant day count basis) of the Reference Bond, assuming a price for the Reference Bond (expressed as a percentage of its nominal amount) equal to the Reference Bond Price for such date of redemption;

  • Alternative Reference Rate means the rate that the Independent Adviser or the Issuer (as applicable) determines has replaced the relevant Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest in respect of bonds denominated in the Specified Currency and of a comparable duration to the relevant Interest Period, or, if the Independent Adviser or the Issuer (as applicable) determines that there is no such rate, such other rate as the Independent Adviser or the Issuer (as applicable) determines in its discretion (acting in good faith) is most comparable to the relevant Reference Rate;

  • Successor Reference Rate means the rate that the relevant Independent Adviser determines is a successor to or replacement of the Reference Rate which is formally recommended by any Relevant Nominating Body.

  • LIBOR Market Index Rate means, for any day, LIBOR as of that day that would be applicable for a LIBOR Loan having a one-month Interest Period determined at approximately 10:00 a.m. Central time for such day (rather than 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period as otherwise provided in the definition of “LIBOR”), or if such day is not a Business Day, the immediately preceding Business Day. The LIBOR Market Index Rate shall be determined on a daily basis.

  • Substitute Reference Rate of Interest Adjustments means such adjustments as are determined by the Issuer to be consistent with enabling the correct functioning of the Substitute Reference Rate of Interest (which may include, without limitation, adjustments to the applicable screen page, Business Day Convention, the definition of Business Day, the Interest Determination Date, the Day Count Fraction or any method or definition for obtaining or calculating the Substitute Reference Rate of Interest).

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

  • Alternative Currency Daily Rate means, for any day, with respect to any Credit Extension:

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

  • Reference Rate Determination Date means, in relation to any Reference Rate Business Day(i):

  • Term SOFR Reference Rate means the forward-looking term rate based on SOFR.

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

  • 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.

  • 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.

  • Reference Bond means for any Reset Period a government security or securities issued by the state responsible for issuing the Specified Currency (which, if the Specified Currency is euro, shall be Germany) selected by the Issuer on the advice of an investment bank of international repute as having an actual or interpolated maturity comparable with the relevant Reset Period that would be utilised, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities denominated in the same currency as the Notes and of a comparable maturity to the relevant Reset Period.

  • 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.

  • Reference Rate of Interest Event means, with respect to the Swap Rate or any subsequent Reference Rate of Interest (the "Reference Rate of Interest") one of the following events:

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.