Swingline Base Rate definition

Swingline Base Rate means, for any day, with respect to any Swingline Loan that (a) is denominated in US Dollars, the Federal Funds Effective Rate and (b) is denominated in Sterling or Euro, a rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to the interest rate per annum at which deposits in the currency in which such Swingline Loan is denominated and approximately equal in principal amount to such Swingline Loan are obtainable by the Swingline Lender on such day at its lending office for such Swingline Loan in the interbank market (or any other market for funds in such currency utilized by the Swingline Lender), adjusted to reflect any direct or indirect costs of obtaining such deposits. The Swingline Base Rate applicable to any Swingline Loan that is denominated in Sterling or Euro shall be determined for each day by the Swingline Lender and such determination shall be presumed correct in the absence of facts or circumstances indicating that it was made in error.
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Swingline Base Rate means, for any day, with respect to any Swingline Loan that (a) is denominated in US Dollars, the Federal Funds Effective Rate and (b) is denominated in Sterling or Euro, a rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to the interest rate per annum at which deposits in the currency in which such Swingline Loan is denominated and approximately equal in principal amount to such Swingline Loan are obtainable by the Swingline Lender on such day at its lending office for such Swingline Loan in the interbank market (or any other market for
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Swingline Base Rate means, for any day, with respect to any Swingline Loan that is an Alternative Currency Loan, a rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the average rate at which overnight deposits in the currency in which such Swingline Loan is denominated and approximately equal in principal amount to such Swingline Loan are obtainable by the Swingline Lender on such day at its lending office for such Swingline Loan in the interbank market (or any other market for overnight funds in such currency utilized by the Swingline Lender), adjusted to reflect any direct or indirect costs of obtaining such deposits (including costs analogous to Statutory Reserves and the Assessment Rate, to the extent applicable). The Swingline Base Rate applicable to any Swingline Loan that is an Alternative Currency Loan shall be determined for each day by the Swingline Lender and such determination shall be conclusive absent manifest error.
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Examples of Swingline Base Rate in a sentence

  • The Swingline Lender shall notify the applicable Borrower and the Administrative Agent of the Swingline Base Rate applicable to Swingline Lender's Swingline Loans that are Alternative Currency Loans promptly following each determination thereof.

  • The parties hereto acknowledge and agree that, as of the Second Amendment Effective Date and until the next adjustment required by the Loan Agreement, the Applicable Margin for Revolving LIBOR Loans and Index Rate Loans and for Swingline Index Rate Loans shall be 1.50%, and for Revolving and Swingline Base Rate Loans shall be 0.50%.

  • From the Third Amendment Date, continuing through the day immediately preceding the first Adjustment Date after June 30, 2012, the applicable Base Rate Margin, LIBOR Margin, Commitment Fee Margin, and Swingline Base Rate Margin shall be set at Level III below.

  • Subject to the provisions of Section 2.08, each Swingline Loan that is an Alternative Currency Loan shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the Swingline Base Rate with respect to such Swingline Loan plus the applicable Swingline Margin.

  • From the date hereof, continuing through the day immediately preceding the first Adjustment Date after September 30, 2011 the applicable Base Rate Margin, LIBOR Margin, Commitment Fee Margin, and Swingline Base Rate Margin shall be 2.750%, 3.750%, 0.500%, and 2.250% per annum, respectively.

  • Subject to the provisions of Section 2.08, each Swingline Loan that is an Alternative Currency Loan shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the Swingline Base Rate with respect to such Swingline Loan.

  • Notwithstanding anything to the contrary set forth in this paragraph, initially, and continuing through the day immediately proceeding the first Adjustment Date occurring on or after September 30, 2010, the LIBOR Margin will be not less than 3.750%, the Base Rate Margin will be not less than 2.750%, and the Swingline Base Rate Margin will not be less than 2.250%.

  • If the Issuing Bank shall make any LC Disbursement, then, unless the Company shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Company reimburses such LC Disbursement, at the Swingline Base Rate plus the Swingline Margin plus 2%.

  • The Swingline Lender shall notify the applicable Borrower and the Administrative Agent of the Swingline Base Rate and Swingline Margin applicable to Swingline Lender's Swingline Loans that are Alternative Currency Loans promptly following each determination thereof.


More Definitions of Swingline Base Rate

Swingline Base Rate means, for any period, the main refinancing rate as set by the European Central Bank for such period, plus 0.50% per annum.
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Swingline Base Rate means, for any day, with respect to any Swingline Loan, the Federal Funds Effective Rate.
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Swingline Base Rate means, for any day, with respect to any Swingline Loan that is denominated in a Committed Foreign Currency, a rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the average rate at which overnight deposits in the currency in which such Swingline Loan is denominated and approximately equal in principal amount to such Swingline Loan are obtainable by the Swingline Lender on such day at its lending office for such Swingline Loan in the interbank market (or any other market for overnight funds in such currency utilized by the Swingline Lender), adjusted to reflect any direct or indirect costs of obtaining such deposits (including costs analogous to Statutory Reserves and the Assessment Rate, to the extent applicable). The Swingline Base Rate applicable to any Swingline Loan that is a denominated in any Committed Foreign Currency shall be determined for each day by the Swingline Lender and such determination shall be conclusive absent manifest error.
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Swingline Base Rate means, for any day, (a) with respect to any Swingline Loan that is denominated in an Alternative Currency, a rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the average rate at which overnight deposits in the currency in which such Swingline Loan is denominated and approximately equal in principal amount to such Swingline Loan are obtainable by the Swingline Lender on such day at its lending office for such Swingline Loan in the interbank market (or, if there is not an inter-bank market, any other market for overnight funds in such currency customarily utilized by the Swingline Lender), adjusted to reflect any direct or indirect costs of obtaining such deposits (including costs analogous to the Statutory Reserve Rate and the Assessment Rate, to the extent applicable) and (b) with respect to any Swingline Loan that is denominated in dollars, the Alternate Base Rate. The Swingline Base Rate applicable to any Swingline Loan shall be determined for each day by the Swingline Lender in respect of such Loan and such determination shall be conclusive absent manifest error.
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Related to Swingline Base Rate

  • Swingline Rate means, for any Interest Period, the rate as offered by the Administrative Agent and accepted by the Borrower. The Borrower is under no obligation to accept this rate and the Administrative Agent is under no obligation to provide it.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Alternate Base Rate Loans means Loans that bear interest at an interest rate based on the Alternate Base Rate.

  • Canadian Base Rate means the rate determined by the Agent as the higher of (i) the annual rate of interest announced by the Agent (or any of its branches) as being its “prime rate” for determining interest rates on Canadian Dollar-denominated commercial loans made by it in Canada and (ii) the BA Rate (after giving effect to any minimum rate set forth in the definition thereof) for a one month BA Interest Period commencing on such day (or, if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Alternate Base Rate Loan means a Loan which bears interest at the Alternate Base Rate.

  • Applicable Base Rate means (i) with respect to a Rate Period of fewer than 49 days, the greater of (a) the SIFMA Municipal Swap Index or (b) the LIBOR Rate, and (ii) with respect to a Rate Period of 49 or more days, the LIBOR Rate.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • borrowing rate means the interest rate expressed as a fixed or variable percentage applied on an annual basis to the amount of credit drawn down;

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Canadian Base Rate Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Canadian Base Rate in accordance with the provisions of Article II.

  • Alternative Base Rate means the rate that has replaced LIBOR in customary market usage for determining floating interest rates in respect of bonds denominated in Dollars or, if the Independent Financial Adviser or the Issuer (in consultation with the Calculation Agent and acting in good faith and a commercially reasonable manner), as applicable, determines that there is no such rate, such other rate as the Independent Financial Adviser or the Issuer (in consultation with the Calculation Agent and acting in good faith and a commercially reasonable manner), as applicable, determines in its or the Issuer’s sole discretion is most comparable to LIBOR. If the Alternative Base Rate is determined, such Alternative Base Rate shall be the Alternative Base Rate for the remaining Interest Periods.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Eurocurrency Base Rate has the meaning specified in the definition of Eurocurrency Rate.

  • Base Rate Loans Loans the rate of interest applicable to which is based upon the Base Rate.

  • U.S. Base Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by a commercial Canadian bank selected by the Lender and in effect as its base rate at its principal office in Toronto, Ontario on such day for determining interest rates on Dollar demand commercial loans in Canada, and (b) the sum of the Federal Funds (Effective) Rate plus 0.50% per annum.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Swingline Loan means a Loan made pursuant to Section 2.04.

  • Revolving Advance has the meaning given in Section 2.1.

  • Swing Line Rate means, (a) in respect of Swing Line Loans made in US Dollars or any Alternate Currency other than Canadian Dollars, for any Interest Period, the sum of (i) the rate per annum determined by the applicable Swing Line Agent as the rate of interest (rounded upward to the next 1/100th of 1%) at which deposits in the relevant currency for delivery on the first day of such Swing Line Loan in Same Day Funds in the approximate amount of the Swing Line Loan being made by such Swing Line Agent (or its affiliate) and with a term equivalent to such Interest Period would be offered by BNP Paribas London to major banks in the London or other offshore interbank market for such currency at their request at approximately 11:00 a.m. (London time) on the first day of such Swing Line Loan and (ii) the Applicable Rate, (b) in the case of Swing Line Loans made in Canadian Dollars, the sum of (i) the Canadian Prime Rate and (ii) the Applicable Rate and (c) in the case of Swing Line Loans made in Australian Dollars, for any Interest Period, the sum of (i) the rate per annum determined by the applicable Swing Line Agent as the rate of interest (rounded upward to the next 1/100th of 1%) at which deposits in Australian Dollars for delivery on the first day of such Swing Line Loan in Same Day Funds in the approximate amount of the Swing Line Loan being made by such Swing Line Agent (or its affiliate) and with a term equivalent to such Interest Period would be offered by BNP Paribas, Sydney Branch to major banks in Sydney at their request at approximately 11:00 a.m. (Sydney time) on the first day of such Swing Line Loan and (ii) the Applicable Rate.

  • Base Rate means, for any day, the rate per annum equal to the higher of (a) the Federal Funds Rate for such day plus one-half of one percent (0.5%) and (b) the Prime Rate for such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Rate.

  • Swingline Borrowing means a Borrowing comprised of Swingline Loans.