Substitute Rate definition

Substitute Rate shall have the meaning set forth in Section 2.2.3(b).

Substitute Rate means a floating rate of interest equal to (a) the Federal Funds Effective Rate from time to time plus one and one-half of one percent (1.50%) plus (b) the Applicable Margin for Adjusted Base Rate Loans.

Substitute Rate means the rate of salary for a substitute in the teacher's salary classification.

Examples of Substitute Rate in a sentence

• Notwithstanding any provision of this Agreement to the contrary, in no event shall Borrower have the right to elect to convert a LIBOR Loan to a Substitute Rate Loan.

• If a Substitute Rate is agreed upon by the Borrower and all the Lenders, such Substitute Rate shall apply.

• Substitute Rate of Pay: Substitutes in ECFE, School Readiness, Parent Educators, other early childhood, and ABE programs will be paid hourly according to Schedule D.

• If a Substitute Rate is agreed upon by the Borrower and any affected Lenders, such Substitute Rate shall apply with respect to such affected Lenders.

• If a Substitute Rate is not so agreed upon by the Borrower and all the Lenders within such time, each Lender’s Canadian Revolving Credit Loans shall thereafter bear interest at a rate equal to the sum of (i) the rate certified by such Lender to be its costs of funds (from such sources as it may reasonably select out of those sources then available to it) for such Canadian Revolving Credit Loans, plus (ii) the Applicable Eurodollar Margin.

More Definitions of Substitute Rate

Substitute Rate shall be computed at step 1 on the salary schedule.

Substitute Rate shall have the meaning assigned to such term in Section 4.2.

Substitute Rate means a rate which has been developed in place of the rate that was disapproved by the FERC.[50 FR 37837, Sept. 18, 1985; 50 FR 48075, Nov.21, 1985] § 903.11 Advance announcement of rate adjustment.The Administrator may announce that the development of rates for a new service or revised rates for an existing service is under consideration. The an- nouncement shall contain pertinent in- formation relevant to the rate adjust- ment. The announcement may be through direct contact with customers, at public meetings, by press release, by newspaper advertisement, and/or by FEDERAL REGISTER publication. Writ- ten comments relevant to rate policy and design and to the rate adjustment process may be submitted by interested parties in response to the announce- ment. Any comments received shall be considered in the development of Pro- posed Rates.§ 903.13 Notice of proposed rates.(a) The Administrator shall give No- tice that Proposed Rates have been prepared and are under consideration. The Notice shall include:

Substitute Rate means an alternative benchmark or screen rate which the Reference Rate Determination Agent determines in accordance with Condition 6 (e) has replaced the original Reference Rate in customary market usage in the international debt capital markets for the purposes of determining rates of interest (or the relevant component part thereof) for a commensurate interest period and in the same Specified Currency as the Notes.

Substitute Rate shall have the meaning assigned to such term in Section 2.11.

Substitute Rate means any published index now or hereafter generally adopted by Buyer as a replacement for LIBOR for variable rate loans or repurchase facilities, as determined by Buyer in its sole discretion and applied to other similarly situated sellers under similar repurchase facilities with Buyer; provided, however, in no event shall such Substitute Rate ever be less than zero percent.”

Substitute Rate means (a) the Applicable Margin plus (b) (i) to the extent requested by Administrative Agent or Prologis, a negotiated rate agreed to by Prologis, Administrative Agent and each applicable Lender or (ii) to the extent that a negotiated rate is not requested or agreed to by the applicable parties, the rate per annum determined by Administrative Agent to be the highest (rounded upwards, if necessary, to four decimal places) rate notified by a Reference Bank to Administrative Agent before the last day of the applicable Interest Period as the percentage rate per annum that represents the cost to such Reference Bank of funding its Loan from whatever source it may reasonably select during such Interest Period.