Senior Debt Rate definition

Senior Debt Rate means, as of any date, the interest rate applicable to the Base Rate, as defined in and determined in accordance with the Senior Credit Agreement (as defined in the Subordination Agreement); provided that, if all of the Commitments (as defined in the Senior Credit Agreement) shall have been terminated in accordance with the terms of the Senior Credit Agreement, the “Senior Debt Rate”, as of any date, shall be a rate per annum equal to (i) the rate published as of such date (or, if The Wall Street Journal shall not be published on such date, the date on which its was last published) by The Wall Street Journal as the “prime rate” (or, if The Wall Street Journal ceases publishing a prime rate, the highest per annum rate of interest published by the Federal Reserve Board in Federal Reserve statistical release H.15 (519) entitled “Selected Interest Rates” as the Bank prime loan rate or its equivalent) plus (ii) one percent (1%).

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Senior Debt Rate means the interest rate set out in Clause 7.2 of the credit agreement being one of the Senior Financing Agreements or such other lower rate as the parties may agree; "Senior Financing Agreements" those of the Financing Agreements listed in Part

Senior Debt Rate means, as of any date, the interest rate applicable to the Revolving Credit Advances, as defined in and determined in accordance with that certain Credit Agreement dated as August 11, 2008 among the Company, certain affiliates of the Company, the Lenders signatory thereto, General Electric Capital Corporation, as Agent, Collateral Agent and Lender, GE Capital Markets, Inc., as Joint Lead Arranger and Book Runner, and Wachovia Capital Markets, as Joint Lead Arranger (as amended, the “Senior Credit Agreement”); provided that, if all of the Commitments (as defined in the Senior Credit Agreement) shall have been terminated in accordance with the terms of the Senior Credit Agreement, the “Senior Debt Rate”, as of any date, shall be a rate per annum equal to (i) the rate published as of such date (or, if The Wall Street Journal shall not be published on such date, the date on which its was last published) by The Wall Street Journal as the “prime rate” (or, if The Wall Street Journal ceases publishing a prime rate, the highest per annum rate of interest published by the Federal Reserve Board in Federal Reserve statistical release H.15 (519) entitled “Selected Interest Rates” as the Bank prime loan rate or its equivalent) plus (ii) one percent (1%).

Examples of Senior Debt Rate in a sentence

Each change in any interest rate provided for in this Note based upon the Senior Debt Rate shall take effect at the time of such change in the Senior Debt Rate.
The Company shall pay or cause to be paid to Holder interest on the unpaid principal amount hereof from time to time outstanding at a rate per annum equal to the then current Senior Debt Rate plus two percent (2%) per annum in arrears on the last day of each January, April, July and October commencing on January 31, 2009 and on the Maturity Date until this Note shall be paid in full.
Subject to the terms of the Subordination Agreement, the Company shall pay or cause to be paid to Holder interest on the unpaid principal amount hereof from time to time outstanding at a rate per annum equal to the then current Senior Debt Rate plus two percent (2%) per annum in arrears on the last day of each January, April, July and October commencing on January 31, 2011 and on the Maturity Date until this Note shall be paid in full.
Interest Where the Authority elects to pay the Adjusted Estimated Fair Value of the Contract or the Base Senior Debt Termination Amount or the Revised Senior Debt Termination Amount (as relevant) element of the Termination Sum in instalments pursuant to clause 56.2 (Instalments), from the Notice Date until the date of payment, interest shall accrue on any unpaid element of the Termination Sum at the Senior Debt Rate and be payable on the next occurring Instalment Date.
Subject to the terms of the Subordination Agreement, the Company shall pay or cause to be paid to Holder interest on the unpaid principal amount hereof from time to time outstanding at a rate per annum equal to the then current Senior Debt Rate plus two percent (2%) per annum in arrears on the last day of each January, April, July and October commencing on [ ], 2012 and on the Maturity Date until this Note shall be paid in full.

More Definitions of Senior Debt Rate

Senior Debt Rate means in respect of:

Senior Debt Rate means, at any time, the standard (non-default) interest rate per annum payable by the Provider to its External Financier(s) in respect of the Provider’s senior debt financing at that time, provided that:

Senior Debt Rate means the prevailing rate of interest on the senior debt of the Company.

Senior Debt Rate means [incorporate the non-default interest rate definition in the Senior Funders Agreement] or such other lower rate as the parties may agree;

Senior Debt Rate means the average of the interest rate quotations for a new issuance of the Company's two-year semi-annual cash-pay unsecured senior debt obtained by the Rate Solicitation Agent for an issuance in an amount equal to the aggregate Issue Price of the Securities plus any accrued Original Issue Discount through June 12, 2004 at approximately 4:00 p.m., New York City time, on the day three trading days prior to June 12, 2004 from three independent nationally recognized securities dealers, (none of which shall be an Affiliate of the Company) selected by the Company; provided, however, that (a) if the three such quotations cannot be obtained, then the average of two quotations shall be used in lieu thereof, and (b) if only one such quotation can be obtained, such quotation shall be used. In the event that no quotations can be obtained, the Company's Senior Debt Rate will be determined by the good faith determination of the Board of Directors.

Senior Debt Rate has the meaning given to that term in Schedule 11 (Termination Compensation); Senior Financing Agreements means the Common Terms Agreement, those agreements listed at paragraphs 1, 2, 3 and 5 of Part 2 of Schedule 12 (Project Documents), the interest rate hedging agreement, the security documents and any agreements relating to the provision of mezzanine finance as at the date of the Agreement or as amended with the prior written approval of the Scottish Ministers pursuant to Clause 5.3.2(a) or as a result of a Qualifying Variation; Senior Lender means a person providing finance to the Company under the Senior Financing Agreements; Senior Lenders’ Financial Model means the financial model delivered to the Senior Lenders pursuant to the terms of the Senior Financing Agreements;

Senior Debt Rate means the non-default interest defined in the Financing Agreements; Service Points has the meaning given to it in the Payment Mechanism; Service Provider shall have the meaning attributed thereto in the array of Parties hereinabove as set forth in the Recitals; Service Provider Default has the meaning given to it in in Clause 33.1.1; Service Provider Indemnified Persons has the meaning given to it in in Clause 37.1.2; Site has the meaning given to it in Clause 10.1; Snag List has the meaning given to it in Clause 14.3; Specifications and Standards means the specifications and standards relating to the quality, quantity, capacity and other requirements for the Project Network (all as set out in Schedule D), and any modifications thereof, or additions thereto, as included in the design and engineering for the Project Network submitted by the Service Provider to, and expressly approved by, the Contracting Authority;