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.

  • With respect to the Floating Rate Notes, a non- Libor reference rate (which rate shall include any applicable Reference Rate Modifier) proposed by the Collateral Manager pursuant to Section 8.3(e) if the Reference Rate Replacement Condition is satisfied.

  • In addition, no consent of the Noteholders or Couponholders shall be required in connection with effecting the relevant Successor Reference Rate or Alternative Reference Rate (as applicable) as described in Condition 5.6 (Reference Rate Replacement) or such other relevant changes pursuant to Condition 5.6(iii)(C) including for the execution of any documents or the taking of other steps by the Issuer or any of the parties to the Agency Agreement.

  • The Administrative Agent will promptly (in one or more notices) notify the Company and each Lender of (x) any occurrence of any of the events, periods or circumstances under clauses (i) through (iii) above, (y) an Applicable Reference Rate Replacement Date and (z) thethe implementation of any Successor Rate.

  • All vehicle operators shall have a valid vehicle operator’s license issued by the State of California of the class required by California law and meet all applicable local, State, and federal requirements for operation of transit vehicles.

  • Such notice shall be irrevocable and shall specify the effective date of the SOFR Reference Rate Replacement and of the SOFR Reference Rate Replacement Conforming Changes, if any.

  • In connection with the implementation of a SOFR Reference Rate Replacement, the Issuer will have the right to make SOFR Reference Rate Replacement Conforming Changes from time to time.

  • On or after the occurrence of a Reference Rate Replacement Event, the Dividend Rate shall be the Replacement Reference Rate once determined by the Calculation Agent and announced via SENS.

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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, for any Eurocurrency Rate Loan denominated in any LIBOR Quoted Currency, LIBOR and for any Eurocurrency Rate Loan denominated in Euro that are made to Designated Borrowers that are Foreign Subsidiaries), EURIBOR, as applicable.

  • SOFR Reference Rate means, in respect of any U.S. Government Securities Business Day:

  • 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 or about 11:00 a.m., London time, two (2) London Banking Days prior to such day, for U.S. 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 will be deemed zero for purposes of this Agreement.

  • 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.

  • Reference Rate of Interest Event means, with respect to the EURIBOR 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.

Most Referenced Clauses

Most Referenced Definitions