Reserve Adjusted Eurodollar Rate definition

Reserve Adjusted Eurodollar Rate means, with respect to each day during each Interest Period pertaining to a Eurodollar Rate Loan, a rate per annum determined for such day in accordance with the following formula:

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Reserve Adjusted Eurodollar Rate means, with respect to any Eurodollar Borrowing for any Interest Period, a rate per annum equal to the greater of (a) in respect of Term Loans (other than Other Term Loans, Refinancing Term Loans or Extended Term Loans), 1.00% and, in respect of Other Term Loans, Refinancing Term Loans, Refinancing Revolving Loans or Extended Loans, any applicable “floor” set forth in the documentation establishing such Loans and (b) the product of (i) the Eurodollar Rate in effect for such Interest Period and (ii) Statutory Reserves.

Reserve Adjusted Eurodollar Rate means, with respect to any Eurodollar Borrowing for any Interest Period, a fluctuating rate per annum equal to the product of (i) the Eurodollar Rate in effect for such Interest Period and (ii) Statutory Reserves.

Examples of Reserve Adjusted Eurodollar Rate in a sentence

The applicable Alternate Base Rate or Reserve Adjusted Eurodollar Rate for each Interest Period or day within an Interest Period, as the case may be, shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made to maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or the Reserve Adjusted Eurodollar Rate, as the case may be.
Subject to the provisions of Sections 2.2E, 2.6 and 2.7, each Loan shall bear interest on the unpaid principal amount thereof from the date made to maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate, the Canadian Prime Rate, the CDOR Rate or the Reserve Adjusted Eurodollar Rate, as the case may be.
Subject to the provisions of subsections 2.6 and 2.7, each Term Loan shall bear interest on the unpaid principal amount thereof from the date made to maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or the Reserve Adjusted Eurodollar Rate, as the case may be.
Subject to the provisions of Sections 2.2E, 2.6 and 2.7, each Loan shall bear interest on the unpaid principal amount thereof from the date made to maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or the Reserve Adjusted Eurodollar Rate, as the case may be.

More Definitions of Reserve Adjusted Eurodollar Rate

Reserve Adjusted Eurodollar Rate with respect to any Eurodollar Rate Loan Portion for any Interest Period, a rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) determined pursuant to the following formula: Reserve Adjusted Eurodollar Rate Eurodollar Rate = ----------------------------------- 1 - Eurocurrency Reserve Percentage "RESTRICTED ACCOUNT AND SECURITY AGREEMENT" -- the Restricted Account and Security Agreement of even date herewith by and between the Bank and the Borrower. "RESTRICTED ACCOUNT BALANCE" -- the sum of all Cash and Cash Equivalents and any other investments on deposit in the Custodian Account, the amount of such Cash Equivalents or investments to be calculated at the lower of cost or market value. 44 "SARA" -- is defined in Subsection 3.16(a).

Reserve Adjusted Eurodollar Rate means a fluctuating rate per annum equal to (x) the rate per annum determined by the applicable Senior Credit Facilities Administrative Agent to be the London interbank offered rate, as currently published on the applicable Reuters screen page (or such other commercially available source providing such quotation of such rate as may be designated by the applicable Senior Credit Facilities Administrative Agent from time to time), or (y) if the rate in clause (x) above does not appear on such page or service or if such page or service is not available, the rate per annum determined by the applicable Senior Credit Facilities Administrative Agent to be the offered rate on such other page or other service which displays an average London interbank offered rate or (z) if the rates in clauses (ii)(x) and (ii)(y) are not available, the quotation rate offered to the applicable Senior Credit Facilities Administrative Agent in the London interbank market, in each case as adjusted for applicable reserve requirements; provided that at no time will the reserve adjusted Eurodollar Rate with respect to the Term Loan Facility be deemed to be less than 1.00% per annum and, with respect to the Revolving Facility and the LC Facility, 0% per annum and (iii) “Prime Rate means the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall Street Journal ceases to quote such rate, the highest rate per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by the applicable Senior Credit Facilities Administrative Agent) or any similar release by the Federal Reserve Board (as determined by the applicable Senior Credit Facilities Administrative Agent). The Company may elect interest periods of 1, 2, 3 or 6 months (or, with the consent of all Revolving Lenders, 12 months or less) for reserve adjusted Eurodollar Rate borrowings. Calculation of interest shall be on the basis of the actual days elapsed in a year of 360 days (or 365 or 366 days, as the case may be, in the case of Base Rate loans based on the Prime Rate) and interest shall be payable at the end of each interest period and, in any event, at least every 3 months and on the applicable maturity date.

Reserve Adjusted Eurodollar Rate means, for any Interest Period, the rate per annum obtained by dividing (i) One-Month LIBOR for such Interest Period by (ii) a percentage equal to 100%, minus the stated maximum rate of all reserve requirements (including any marginal, emergency, supplemental, special or other reserves) applicable on such second preceding Business Day to any member bank of the Federal Reserve System in respect of "Eurocurrency liabilities" as defined in Regulation D of the Federal Reserve Board (or any successor category of liabilities under Regulation D).

Reserve Adjusted Eurodollar Rate means, with respect to the Interest Period for each Eurodollar Loan, the rate per annum (rounded upwards to the nearest whole multiple of 1/100th of one percent) equal to the following: Eurodollar Base Rate ----------------------------------------- 1.00 - Eurocurrency Reserve Requirements. "Revolving Credit Commitment" means the Commitment.

Reserve Adjusted Eurodollar Rate will have the meaning customary and appropriate for financings of this type, and the basis for calculating accrued interest and the interest periods for loans bearing interest at the reserve Adjusted Eurodollar Rate will be customary and appropriate for financings of this type. As used herein, the term “Adjusted EURIBOR” is the London interbank offered rate for Euro deposits for purposes of providing quotations of interest rates applicable to Euro deposits in the London interbank market, and the basis for calculating accrued interest and the interest periods for loans bearing interest at the Adjusted EURIBOR Rate will be customary and appropriate for financings of this type. After the occurrence and during the continuance of an Event of Default, interest on all overdue amounts then outstanding will accrue at a rate equal to the applicable rate set forth above, plus an additional two percentage points (2.00%) per annum and will be payable on demand.

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