SXXXX Rate definition

SXXXX Rate means, for any day (a “SXXXX Xxxx Day”), a rate per annum equal to, for any Obligations, interest, fees, commissions or other amounts denominated in Sterling, a rate per annum equal to (a) the sum of (x) SXXXX for the day (such day “i”) that is 5 Business Days prior to (A) if such SXXXX Rate Day is an Business Day, such SXXXX Rate Day or (B) if such SXXXX Xxxx Day is not an Business Day, the Business Day immediately preceding such SXXXX Xxxx Day, in each case, as SXXXX is published by the SXXXX Administrator on the SXXXX Administrator’s Website plus (y) 0.0326% (3.26 basis points), (b) if SXXXX is not available for the day “i” determined pursuant to clause (a) above, the SXXXX Rate for such day “i” shall be the percentage rate per annum which is the aggregate of (x) the Central Bank Rate for such day “i” and (y) the applicable Central Bank Rate Adjustment or (c) if clause (b) applies but the Central Bank Rate for the applicable day “i” is not available, the SXXXX Rate for such day “i” shall be the percentage rate per annum which is the aggregate of (x) the most recent Central Bank Rate for a Business Day which is no more than five Business Days before day “i” and (y) the applicable Central Bank Rate Adjustment; provided that if the SXXXX Rate shall be less than the Floor, such rate shall be deemed to be the Floor for the purposes of this Agreement.
Sample 1Sample 2
SXXXX Rate means, for any day (a “SXXXX Interest Day”), SXXXX for the day that is the fifth Business Day prior to (A) if SXXXX Interest Day is a Business Day, such SXXXX Interest Day or (B) if such SXXXX Interest Day is not a Business Day, the Business Day immediately preceding SXXXX Interest Day; provided that if the SXXXX Rate shall be less than zero, the SXXXX Rate shall be deemed to be zero. Any change in the SXXXX Rate due to a change in SXXXX shall be effective from and including the effective date of such change in SXXXX without notice to the Borrowers. If by 5:00 pm (London time) on the second (2nd) Business Day immediately following any day “i”, SXXXX in respect of such day “i” has not been published on the SXXXX Administrator’s Website and a Benchmark Replacement Date with respect to SXXXX has not occurred, then SXXXX for such day “i” will be SXXXX as published in respect of the first preceding Business Day for which SXXXX was published on the SXXXX Administrator’s Website; provided that SXXXX determined pursuant to this sentence shall be utilized for purposes of calculation of the SXXXX Rate for no more than three (3) consecutive Business Days.
Sample 1
SXXXX Rate means, for any day, with respect to any Credit Extension denominated in Sterling, the rate per annum equal to SXXXX determined pursuant to the definition thereof plus the SXXXX Adjustment; provided that, if any SXXXX Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement. Any change in the SXXXX Rate shall be effective from and including the date of such change without further notice.
Sample 1

Examples of SXXXX Rate in a sentence

  • Each SXXXX Advance shall bear interest on the outstanding principal amount thereof, for each date from and including the date such Advance is made, to but excluding the date it is paid, at a rate per annum equal to the Daily Simple SXXXX Rate plus the Applicable Margin.

  • Until each U.S. Revolving Credit Lender funds its Base Rate Loan, Eurodollar Rate Loan or SXXXX Rate Loan as a U.S. Revolving Credit Loan or risk participation pursuant to this Section 2.04 to refinance such Revolving Credit Lender’s Applicable Percentage of any Swing Line Participation, interest in respect of such U.S. Applicable Percentage shall be solely for the account of the Swing Line Lender.

  • Until each Revolving Credit Lender funds its Base Rate Loan, Eurocurrency Rate Loan, SXXXX Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Pro Rata Share of any Swing Line Loan, interest in respect of such Pro Rata Share shall be solely for the account of the Swing Line Lender.

  • Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans or SXXXX Rate Loans denominated in the affected Approved Currency or, failing that, will be deemed to have converted such request, if applicable, into a request for a Borrowing of Base Rate Loan in the amount specified therein.

  • If the Borrower fails to specify a Type of Loan in a Committed Loan Notice or fails to give a timely notice requesting a conversion or continuation, then the applicable Term Loans or Revolving Credit Loans shall be made as or converted to (x) in the case of any Loan denominated in Dollars, Base Rate Loans or (y) in the case of any Loan denominated in an Approved Foreign Currency, Eurocurrency Rate Loans or SXXXX Rate Loans in the Approved Currency having an Interest Period of one month, as applicable.

  • Each such notice shall specify the date and amount of such prepayment, the Type(s) of Loans to be prepaid, the character of Loans to be prepaid (as U.S. Revolving Credit Loans or Canadian Revolving Credit Loans) and, if Eurodollar Rate Loans, CDOR Rate Loans or SXXXX Rate Loans are to be prepaid, the Interest Period(s) of such Loans.

  • All French Swingline Loans shall be made in Dollars, Euros or Sterling, as requested by the applicable French Borrower, as Base Rate Loans bearing interest based on the Foreign Base Rate, in the case of Sterling denominated French Swingline Loans, as SXXXX Rate Loans, or, as requested by the applicable French Borrower, as LIBOR Loans.

  • Thereafter, until each affected Lxxxxx notifies the Administrative Agent and the Administrative Agent notifies the Borrower that the circumstances giving rise to such determination no longer exist, any obligation of such Lender to make SXXXX Loans shall be suspended, and such Loans shall instead be made at a rate equal to the Daily Simple SXXXX Rate for the date upon which the Illegality Notice was delivered plus the Applicable Margin.

  • Thereafter, the obligation of the Lenders to make or maintain Eurocurrency Rate Loans or SXXXX Rate Loans in the affected Approved Currency shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice.

  • If the Borrower requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans or SXXXX Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.


More Definitions of SXXXX Rate

SXXXX Rate. “Term SOFR” and “Interest Period”, timing and frequency of determining rates or making payments of interest and other technical administrative or operational matters (including, for the avoidance of doubt, the definitions of “Business Day” and “US Government Securities Business Day”, timing of borrowing requests or prepayment, conversion or continuation notices and length of lookback periods) as may be appropriate, in the discretion of the Administrative Agent (in consultation with the Borrower Representative), to reflect the adoption and implementation of such applicable rate(s) and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such rate exists, in such other manner of administration as the Administrative Agent (in consultation with the Borrower Representative) determines is reasonably necessary in connection with the administration of this Agreement and any other Loan Document).
Sample 1
SXXXX Rate with respect to any applicable determination date, the Sterling Overnight Index Average Reference Rate published on the fifth Business Day preceding such date on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time); provided however that if such determination date is not a Business Day, SXXXX Rate means such rate that applied on the first Business Day immediately prior thereto.
Sample 1
SXXXX Rate when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to Daily Simple SXXXX.
Sample 1
SXXXX Rate means, in relation to any RFR Banking Day during the Accrual Period of a GBP Loan, the percentage rate per annum which is the Daily Non-Cumulative Compounded RFR Rate for that RFR Banking Day. If the calculation of a SXXXX Rate results in a rate of less than zero (0), such SXXXX Rate shall be deemed to be zero (0) for all purposes of the Transaction Documents.
Sample 1

Related to SXXXX Rate

  • Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the applicable Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Principal Paying Agent on the relevant Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the Relevant Decimal Place:

  • Reference Rate means the rate specified as such hereon.

  • Term SOFR Reference Rate means the forward-looking term rate based on SOFR.

  • Reset Reference Rate means in respect of a Reset Period, the gross redemption yield (as calculated by the Agent Bank on the basis set out by the United Kingdom Debt Management Office in the paper “Formulae for Calculating Gilt Prices from Yields”, page 5, Section One: Price/Yield Formulae “Conventional Gilts”; Double dated and Undated Gilts with Assumed (or Actual) Redemption on a Quasi-Coupon Date (published 8 June 1998, as amended or updated from time to time) or if such basis is no longer in customary market usage at such time, in accordance with generally accepted market practice at such time, on a semi-annual compounding basis (rounded up (if necessary) to four decimal places) of the Benchmark Gilt in respect of that Reset Period, with the price of the Benchmark Gilt for the purpose of determining the gross redemption yield being the arithmetic average (rounded up (if necessary) to the nearest 0.001 per cent. (0.0005 per cent. being rounded upwards)) of the bid and offered prices of such Benchmark Gilt quoted by the Reset Reference Banks at 11.00 a.m. (London time) on the Reset Determination Date in respect of such Reset Period on a dealing basis for settlement on the next following dealing day in London. Such quotations shall be obtained by or on behalf of the Issuer and provided to the Agent Bank. If at least four quotations are provided, the Reset Reference Rate will be determined by reference to the rounded 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 or three quotations are provided, the Reset Reference Rate will be determined by reference to the rounded arithmetic mean of the quotations provided. If only one quotation is provided, the Reset Reference Rate will be determined by reference to the rounded quotation provided. If no quotations are provided, the Reset Reference Rate will be the previous Reset Reference Rate or (in the case of the first Reset Period) 1.581 per cent., where:

  • 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.