Sterling Overnight Rate means, on any day, the rate per annum determined by the London office of the Administrative Agent for overnight deposits in Sterling at approximately 11:00 a.m., London time, on such day by reference to the Reuters Screen LIBOR01 Page; provided, however, that if the applicable screen shall no longer exist, “Sterling Overnight Rate” shall mean an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the rate at which overnight deposits in Sterling approximately equal in principal amount to such Borrowing are offered to the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, on such day.
Sterling Overnight Rate means, with respect to any UK Swingline Loan, the London interbank offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in Sterling for an overnight period as displayed on the Reuters screen page that displays such rate (currently LIBOR01) (or, in the event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion); provided that if the Sterling Overnight Rate, determined as provided above, would be less than zero, the Sterling Overnight Rate shall be zero for all purposes of this Agreement.
Sterling Overnight Rate means, on any day, the rate per annum determined by the London office of the Administrative Agent for overnight deposits in Sterling at approximately 11:00 a.m., London time, on such day by reference to the Reuters “LIBOR01” screen displaying British Bankers’ Assoc. Interest Settlement Rates; provided, however, that if the applicable screen shall no longer exist, “Sterling Overnight Rate” shall mean an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the rate at which overnight deposits in Sterling approximately equal in principal amount to such Borrowing are offered to the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, on such day.
Examples of Sterling Overnight Rate in a sentence
The Revolving Loans made in Dollars may from time to time be Eurocurrency Loans or Alternate Base Rate Loans; the Revolving Loans made in Pounds may from time to time be Eurocurrency Loans or Pound Sterling Overnight Rate Loans; and the Revolving Loans made in Euros may from time to time be Eurocurrency Loans or Euro Overnight Rate Loans, in each case as determined by the applicable Borrower and notified to the Administrative Agent in accordance with Sections 2.03 and 2.07.
The Recipient must participate, at its own cost and as reasonably required by the Department, in studies, evaluations and other activities intended to analyse the success of the Activity or Program in achieving the Program Objectives.
Each Swingline Loan denominated in US Dollars shall be an ABR Loan, each Swingline Loan denominated in Canadian Dollars shall be a Canadian Prime Rate Loan, each Swingline Loan denominated in Sterling shall be a Sterling Overnight Rate Loan and each Swingline Loan denominated in Euro shall be a Euro Overnight Rate Loan.
Each Swing Line Loan denominated in (i) Canadian Dollars shall be a Canadian Prime Rate Loan, (ii) Euro shall be a Euro Overnight Rate Loan and (iii) Sterling shall be a Sterling Overnight Rate Loan.
The applicable Alternate Base Rate, Adjusted LIBO Rate, LIBO Rate and Pound Sterling Overnight Rate shall be determined by the Documentation Manager, and such determination shall be conclusive absent manifest error.
More Definitions of Sterling Overnight Rate
Sterling Overnight Rate means the Sterling Over Night Index Average as calculated by the Bank of England and appearing on the Telerate Service on the page designated 3937 or the Reuters page designated SONIA 1, or any equivalent successor to either such page, and if no such rate is available for the relevant Rate Period, the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Agent at its request quoted by the Reference Banks to leading banks in the London interbank market.
Sterling Overnight Rate means a rate per annum equal to the London interbank offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for overnight deposits in Sterling as displayed on the applicable Reuters screen page (currently LIBOR01 or LIBOR02) (or, in the event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion) at approximately 11:00 a.m., London time, on such day; provided that if such rate shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement.
Sterling Overnight Rate means, for any day, (a) the offered rate per annum for overnight deposits in Sterling in the London interbank market equal to the ICE LIBOR Rate, as published on the applicable Bloomberg screen page (or such other commercially available source providing quotations of ICE LIBOR as may be designated by the Administrative Agent from time to time) as of 11:00 a.m. (London, England time) on such day or (b) if the rate referred to in clause (a) is not available for Sterling, a rate per annum at which overnight deposits in Sterling would be offered on such day in the London interbank market, as such rate is determined by the Administrative Agent by such means as the Administrative Agent shall determine to be reasonable. Notwithstanding the foregoing, in no event shall the Sterling Overnight Rate be less than 1.25% per annum. “Sterling Term Loan Commitment” has the meaning assigned to the term “Sterling Term Loan Commitment” in the Fourth Amendment. “Sterling Term Loan Facility” means the Sterling Term Loans and the provisions set forth herein relating to the Sterling Term Loans. “Sterling Term Loan Lender” means each Lender that has a Sterling Term Loan Commitment or holds a Sterling Term Loan. “Sterling Term Loans” has the meaning assigned to the term “Sterling Term Loans” in the Fourth Amendment. “Stock” means all shares of capital stock (whether denominated as common stock or preferred stock), equity interests, beneficial, partnership or membership interests, limited liability company interests or units, joint venture interests, participations or other ownership or profit interests in or equivalents (regardless of how designated) of or in a Person (other than an individual), whether voting or non-voting. “Stock Equivalents” means all securities convertible into or exchangeable for Stock or any other Stock Equivalent and all warrants, options or other rights to purchase, subscribe for or otherwise acquire any Stock or any other Stock Equivalent, whether or not presently convertible, exchangeable or exercisable. “Subordinated Debt” means any Indebtedness that is subordinated to the Obligations as to right and time of payment and as to other rights and remedies thereunder. “Subsidiary” means, with respect to any Person, any corporation, partnership, joint venture, limited liability company, association or other entity the management of which is, directly or indirectly, controlled by, or of which an aggregate of more than 50% of the outstanding Voting Stock is, at...
Sterling Overnight Rate means for any interest calculation with respect to a Swing Line Loan on any date (i) the rate per annum determined by the London office of the Administrative Agent for overnight deposits in Sterling at approximately 11:00 a.m., London time, on such day by reference to the Reuters “LIBOR01” screen displaying British Bankers’ Assoc. Interest Settlement Rates or (ii) if such published rate is not available at such time for any reason, the rate per annum (rounded upwards, if necessary, to the next 1/16th of 1%) determined by the Administrative Agent to be the rate at which overnight deposits in Sterling approximately equal in principal amount to such Swing Line Loan are offered to the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, on such day.
Sterling Overnight Rate means the Sterling Over Night Index Average as calculated by the Bank of England and appearing on the Telerate Service on the page designated 3937 or the Reuters page designated XXXXX 1 and if no such rate is available for the relevant Interest Period, the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Agent at its request quoted by the Reference Banks to leading banks in the London interbank market.
Sterling Overnight Rate means, with respect to any UK Swingline Loan, the London interbank offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in Sterling for an overnight period as displayed on the Reuters screen page that displays such rate (currently LIBOR01) (or, in the event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion); provided that (A) if the Sterling Overnight Rate, determined as provided above, would be less than zero, the Sterling Overnight Rate shall be zero for all purposes of this Agreement and (B) if the Sterling Overnight Rate is not available at such time for any reason, then (x) the “Sterling Overnight Rate” shall be (i) a comparable successor or alternative interbank rate that is, at such time, broadly accepted by the syndicated loan market in the United States in lieu of the “Sterling Overnight Rate” and is reasonably acceptable to the Borrower and the Administrative Agent or (ii) solely if no such broadly accepted comparable successor interbank rate exists at such time, a successor or alternative index rate as the Administrative Agent and the Borrower may determine, which shall become effective five (5) Business Days after the Administrative Agent has given written notice to the Lenders of the same (unless within that time Lenders constituting Required Lenders object to such successor or alternative index rate) and (y) until any such successor or alternative index rate has been determined pursuant to clause (x), no Swingline Lender shall be obligated to make a UK Swingline Loan.
Sterling Overnight Rate means, on any date of determination, the ----------------------- rate per annum at which the Administrative Agent offers overnight deposits in Sterling to prime banks in the London interbank market at 11:00 A.M. (London time) on such day.