Reserve Rate means the rate per annum which Lender determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/1,000%) of the one-month United States dollar lending rates that at least three major New York City banks selected by Lender are quoting, at 11:00 a.m. (New York time) on the relevant LIBOR Determination Date, to the principal London offices of at least two of the Reference Banks, or (ii) in the event that at least two such rates are not obtained, the lowest one-month United States dollar lending rate which New York City banks selected by Lender are quoting as of 11:00 a.m. (New York time) on such LIBOR Determination Date to leading European banks.
Reserve Rate. The aggregate rate, expressed as a decimal, at which the Bank would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulation relating to such reserve requirements) against Eurocurrency Liabilities, as well as any other reserve required of the Bank with respect to the LIBOR Loans. The LIBOR Interest Rate shall be adjusted automatically on and as of the effective date of any change in the Reserve Rate.
Reserve Rate means the rate in effect from time to time, expressed as a decimal, at which the Lender would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulation relating to such reserve requirements) against "Eurocurrency Liabilities" (as such term is used in such Regulation D) if such liabilities were outstanding.
Examples of Reserve Rate in a sentence
The merchant agrees that a percentage of the daily gross sales volume processed by Paynovate (the "Reserve Rate") will be subtracted from the daily settlements received by Paynovate ("Reserve Amount"), and will be retained by Paynovate to cover unpaid charges, deductions such as Chargebacks, assessments and refunds, or other obligations under these Terms and Conditions.
Paynovate may, in its sole discretion, increase the Reserve Rate or the total amount of the Reserve Amount for reasonable reasons, including (without limitation): (i) Merchant's payment processing history (increase in Chargebacks); (ii) Merchant's breach of the Agreement; or (iii) termination of the Agreement, upon notice to Merchant.
The Reserve Rate shall be set forth in the Purchase Order [POI] or other relevant operational document.
More Definitions of Reserve Rate
Reserve Rate percentage of daily gross sales volume processed by Paynovate, which will be subtracted from the daily settlements collected by Paynovate from the Payment Service Providers and held in the Merchant Settlement Account. The applicable Reserve Rate shall be set forth in the Purchase Order.
Reserve Rate means the rate (expressed as a decimal) at which the BANK would be required to maintain reserves under Regulation D (or its equivalent) of the Board of Governors of the Federal Reserve System against Eurocurrency Liabilities if such liabilities were outstanding. The ADJUSTED LIBOR RATE shall be adjusted automatically on and as of the effective date of any change in the RESERVE RATE, and the rate of interest thereby effected shall simultaneously change.
Reserve Rate means the maximum reserve rate (including supplemental, marginal and emergency reserve requirements), expressed as a decimal, determined by Bank to be the rate which would be applicable to the relevant Interest Period under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulation relating to such reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D) of a member of the Federal Reserve System, whether or not such fundings were outstanding.
Reserve Rate means the maximum reserve rate (including, without limitation, basic, supplemental, marginal and emergency reserve requirements), expressed as a decimal, determined by Agent to be the rate which would be applicable to the relevant Interest Period under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulation relating to such reserve requirements) with respect to eurocurrency funding (currently referred to as "Eurocurrency Liabilities" in Regulation D) of a member of the Federal Reserve System, whether or not such fundings were outstanding. The Reserve Rate on the Closing Date is zero, but may change thereafter.
Reserve Rate means the rate (expressed as a decimal) at which the Bank would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System against Eurocurrency Liabilities if such liabilities were outstanding. The LIBOR Interest Rate shall be adjusted automatically on and as of the effective date of any change in the Reserve Rate, and the rate of interest thereby effected shall simultaneously change.
Reserve Rate means the rate per annum which Lender determines to be the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/1,000%) of the one-month United States dollar lending rates that at least three major New York City banks selected by Lender are quoting, at 11:00 a.m. (New York time) on the relevant LIBOR Determination Date, to the principal London offices of at least two of the Reference Banks. In the event that at least two such rates are not obtained, Reserve Rate shall mean the lowest one-month United States dollar lending rate which New York City banks reasonably selected by Lender are quoting as of 11:00 a.m. (New York time) on such LIBOR Determination Date to leading European banks.
Reserve Rate means, for any day for any Interest Period, the maximum ------------ reserve percentage (expressed as a decimal, rounded upward to the next 1/100th of 1%) in effect on such day (whether or not applicable to any Bank) under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as "Eurocurrency liabilities").