Reset Date Cost of Funds definition

Reset Date Cost of Funds means, as of the Reset Date, the amount (in basis points and which amount shall be set forth as a negative number if the amount in the following clause (x) is less than the amount in the following clause (y)), if any, by which (x) the Floating Note Rate differs from (y) the Eurodollar Rate (giving effect to any Benchmark Replacement and any Benchmark Replacement Conforming Changes) for an Interest Period of one month, in each case determined as of the date that is two (2) Business Days prior to the Reset Date. By way of example, assuming the 2020 Increased Amount Date Cost of Funds is 15 basis points, (A) if the Reset Date Cost of Funds as of the Reset Date is 35 basis points, then the Eurodollar Rate for any Interest Period (with respect only to the calculation of interest on 2020 Incremental Term Loan Advances) shall be increased by 20 basis points commencing from and as of the Reset Date, and (B) if the Reset Date Cost of Funds as of the Reset Date is -5 basis points (i.e., the Floating Note Rate is 5 basis points less than the Eurodollar Rate for an Interest Period of one month, in each case as of the Reset Date), then the Eurodollar Rate for any Interest Period (with respect only to the calculation of interest on 2020 Incremental Term Loan Advances) shall be decreased by 20 basis points commencing from and as of the Reset Date.
Sample 1
Reset Date Cost of Funds means, as of any Reset Date, the amount (in basis points and which amount shall be set forth as a negative number if the amount in the following clause (x) is less than the amount in the following clause (y)), if any, by which (x) the Floating Note Rate differs from (y) the LIBOR Rate for an Interest Period of one month, in each case determined as of the date that is two Business Days prior to such Reset Date. By way of example, assuming the Closing Date Cost of Funds is 15 basis points, (A) if the Reset Date Cost of Funds as of a Reset Date is 35 basis points, then the LIBOR Rate for any Interest Period shall be increased by 20 basis points commencing from and as of such Reset Date, and (B) if the Reset Date Cost of Funds as of a Reset Date is –5 basis points (i.e., the Floating Note Rate is 5 basis points less than the LIBOR Rate for an Interest Period of one month, in each case as of such Reset Date), then the LIBOR Rate shall be decreased (but not below zero) by 20 basis points commencing from and as of such Reset Date.
Sample 1
Reset Date Cost of Funds means, as of a Reset Date, the amount (in basis points and which amount shall be set forth as a negative number if the amount in the following clause (x) is less than the amount in the following clause (y)), if any, by which (x) the Floating Note Rate differs from (y) the Eurodollar Rate (giving effect to any alternate rate of interest implemented pursuant to Section 3.03(b) of the Credit Agreement) for an Interest Period of one month, in each case determined as of the date that is two (2) Business Days prior to such Reset Date.
Sample 1

Examples of Reset Date Cost of Funds in a sentence

  • Effective as of the Reset Date, the Applicable Margins shall be increased (if the Reset Date Cost of Funds is higher than the Effective Date Cost of Funds) or decreased (if the Reset Date Cost of Funds is lower than the Effective Date Cost of Funds), as applicable, by the amount of such difference; provided that, in no event, shall any such decrease reduce the Applicable Margins below the Applicable Margins for Level I as of the Closing Date.

  • For the avoidance of doubt, Greif Packaging has no obligation to draw any portion of the Incremental Term A-3 Loan for any reason (including, without limitation, because of the Reset Date Cost of Funds (as defined below) as of the Incremental Term A-3 Funding Date (as defined below)).


More Definitions of Reset Date Cost of Funds

Reset Date Cost of Funds means the amount (in basis points and which amount shall be set forth as a negative number if the amount in the following clause (x) is less than the amount in the following clause (y)), if any, by which (x) the Floating Note Rate all-in cost indication differs from (y) SOFR, in each case determined as of the date that is two (2) Business Days prior to the Reset Date. By way of example, assuming the Effective Date Cost of Funds is 15 basis points, (A) if the Reset Date Cost of Funds as of a Reset Date is 35 basis points, then the Applicable Margins shall be increased by 20 basis points commencing from and as of such Reset Date, and (B) if the Reset Date Cost of Funds as of a Reset Date is –5 basis points (i.e., the Floating Note Rate is 5 basis points less than SOFR, in each case as of such Reset Date), then the Applicable Margins shall be decreased (but not below the Applicable Margins for Level I as of the Closing Date) by 20 basis points commencing from and as of such Reset Date.
Sample 1
Reset Date Cost of Funds means, as of the Reset Date, the amount (in basis points and which amount shall be set forth as a negative number if the amount in the following clause (x) is less than the amount in the following clause (y)), if any, by which (x) the Floating Note Rate differs from (y) the Eurodollar Rate (giving effect to any Benchmark Replacement and any Benchmark Replacement Conforming Changes) for an Interest Period of one month, in each case determined as of the date that is two (2) Business Days prior to the Reset Date. CHAR1\1795764v6 By way of example, assuming the 2021 Increased Amount Date Cost of Funds is 15 basis points, (A) if the Reset Date Cost of Funds as of the Reset Date is 35 basis points, then the Eurodollar Rate for any Interest Period (with respect only to the calculation of interest on 2021 Incremental Term Loan Advances) shall be increased by 20 basis points commencing from and as of the Reset Date, and (B) if the Reset Date Cost of Funds as of the Reset Date is -5 basis points (i.e., the Floating Note Rate is 5 basis points less than the Eurodollar Rate for an Interest Period of one month, in each case as of the Reset Date), then the Eurodollar Rate for any Interest Period (with respect only to the calculation of interest on 2021 Incremental Term Loan Advances) shall be decreased by 20 basis points commencing from and as of the Reset Date.
Sample 1
Reset Date Cost of Funds means, as of a Reset Date, the amount (in basis points and which amount shall be set forth as a negative number if the amount in the following clause (x) is less than the amount in the following clause (y)), if any, by which (x) the Floating Note Rate differs from (y) the Eurodollar Rate (giving effect to any alternate rate of interest implemented pursuant to Section 3.03(b) of the Credit Agreement) for an Interest Period of one month, in each case determined as of the date that is two (2) Business Days prior to such Reset Date. By way of example, assuming the Incremental Term A-3 Agreement Effective Date Cost of Funds is 15 basis points, (A) if the Reset Date Cost of Funds as of a Reset Date is 35 basis points, then the Eurodollar Rate for any Interest Period (with respect only to the calculation of interest on the Incremental Term Loan A-3) shall be increased by 20 basis points commencing from and as of such Reset Date until the next Reset Date or the Incremental Term A-3 Maturity Date, as applicable, and (B) if the Reset Date Cost of Funds as of a Reset Date is -5 basis points (i.e., the Floating Note Rate is 5 basis points less than the Eurodollar Rate for an Interest Period of one month, in each case as of such Reset Date), then the Eurodollar Rate for any Interest Period (with respect only to the calculation of interest on the Incremental Term Loan A-3) shall be decreased by 20 basis points commencing from and as of such Reset Date until the next Reset Date or the Incremental Term A-3 Maturity Date, as applicable.
Sample 1
Reset Date Cost of Funds means, as of any Reset Date, the amount (in basis points and which amount shall be set forth as a negative number if the amount in the following clause (x) is less than the amount in the following clause (y)), if any, by which (x) the all-in Floating Note Rate cost of funds paid by the Lenders as indicated by The Federal Farm Credit Banks Funding Corporation differs from (y) the Adjusted Daily Simple SOFR Rate, in each case determined as of the date that is two (2) Business Days prior to such Reset Date. By way of example, assuming the Closing Date Cost of Funds is 15 basis points, (A) if the Reset Date Cost of Funds as of the applicable Reset Date is 35 basis points, then the all-in interest rate for any interest period (with respect only to the calculation of interest on Term Loan Advances or 2021 Incremental Term Loan Advances, as applicable) shall be increased by 20 basis points commencing from and as of such Reset Date, and (B) if the Reset Date Cost of Funds as of the applicable Reset Date is -5 basis points (i.e., the Floating Note Rate is 5 basis points less than the Adjusted Daily Simple SOFR Rate, in each case as of the date that is two (2) Business Days prior to the applicable Reset Date), then the all-in interest rate for any interest period (with respect only to the calculation of interest on Term Loan Advances or 2021 Incremental Term Loan Advances, as applicable) shall be decreased by 20 basis points, subject to proviso (ii) above in the first paragraph of this clause (c), commencing from and as of such Reset Date.
Sample 1

Related to Reset Date Cost of Funds

  • Reset Date means the First Reset Date, the Second Reset Date and each Subsequent Reset Date (as applicable);

  • Base CD Rate means the sum of (a) the Three-Month Secondary CD Rate multiplied by the Statutory Reserve Rate plus (b) the Assessment Rate.

  • Reset Interest Period means each period from (and including) any Reset Date and ending on (but excluding) the next Reset Date.

  • Three-Month LIBOR means the rate (expressed as a percentage per annum) for deposits in United States dollars for a three-month period commencing on the first day of a Dividend Period that appears on the Reuters Screen LIBOR01 Page as of 11:00 a.m. (London time) on the LIBOR Determination Date for that Dividend Period. If such rate does not appear on Reuters Screen LIBOR01 Page, Three-month LIBOR will be determined on the basis of the rates at which deposits in United States dollars for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million are offered to prime banks in the London interbank market by four major banks in the London interbank market selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., London time, on the LIBOR Determination Date for that Dividend Period. The Calculation Agent will request the principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of such quotations. If fewer than two quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of the rates quoted by three major banks in New York City selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date for that Dividend Period for loans in United States dollars to leading European banks for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million. However, if fewer than three banks selected by the Calculation Agent to provide quotations are quoting as described above, Three-month LIBOR for that Dividend Period will be the same Three-month LIBOR as determined for the previous Dividend Period or, in the case of the Dividend Period beginning on April 30, 2018, 2.920%. The determination of Three-month LIBOR for each relevant Dividend Period by the Calculation Agent will (in the absence of manifest error) be final and binding.

  • Reset Reference Bank Rate means, in relation to a Reset Interest Period and the Reset Rate of Interest Determination Date in relation to such Reset Interest Period, the percentage rate determined on the basis of the 7-year Mid-Swap Rate Quotations provided by the Reset Reference Banks to the Fiscal Agent at approximately 11:00 a.m. (New York City time) on such Reset Rate of Interest Determination Date. If at least three quotations are provided, the Reset Reference Bank Rate will be the arithmetic mean of the quotations provided, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If only two quotations are provided, the Reset Reference Bank Rate will be the arithmetic mean of the quotations provided. If only one quotation is provided, the Reset Reference Bank Rate will be the quotation provided. If no quotations are provided,

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Interest Reset Date means, with respect to any Interest Period with respect to the Floating Rate Notes, the first day of such Interest Period; provided that if any Interest Reset Date would otherwise be a day that is not a Business Day, that Interest Reset Date will be postponed to the next succeeding day that is a Business Day, except that if that Business Day falls in the next succeeding calendar month, such Interest Reset Date will be the immediately preceding Business Day.

  • Reset Period means the First Reset Period or a Subsequent Reset Period, as the case may be;

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • Interest Rate Adjustment Date With respect to each Adjustable Rate Mortgage Loan, the date, specified in the related Mortgage Note and the related Mortgage Loan Schedule, on which the Mortgage Interest Rate is adjusted.

  • SOFR Rate means the rate that will be calculated by the Calculation Agent for each Accrual Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided below following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.