Term Loan Alternate Base Rate definition

Term Loan Alternate Base Rate means, for any day, the greater of (a) 7% and (b) a fluctuating rate of interest per annum equal to the Prime Rate in effect on such day plus 2.75%. Any change in the Term Loan Alternate Base Rate due to a change in the Prime Rate shall be effective from and including the effective day of such change in the Prime Rate.
Sample 1Sample 2
Term Loan Alternate Base Rate means, for any day, the greater of (a) 10.3125% and (b) a fluctuating rate of interest per annum equal to the Prime Rate in effect on such day plus 6.5625%, provided that during the time the Accommodation Conditions remain satisfied, the Term Loan Alternate Base Rate shall be reduced by 1.0%. Any change in the Term Loan Alternate Base Rate due to a change in the Prime Rate shall be effective from and including the effective day of such change in the Prime Rate. For the avoidance of doubt, once the Accommodation Conditions have been satisfied and then become unsatisfied, the Term Loan Alternate Base Rate shall increase by 1.0% and the Term Loan Alternate Base Rate shall no longer be eligible for reduction based on satisfying the Accommodation Conditions.
Sample 1
Term Loan Alternate Base Rate means, for any day, the greater of (a) 9.0% and (b) a fluctuating rate of interest per annum equal to the Prime Rate in effect on such day plus 5.75%, provided however, if the IPO has not occurred by September 30, 2015, then “Term Loan Alternate Base Rate” shall mean, for any day, the greater of (a) 10.25% and (b) a fluctuating rate of interest per annum equal to the Prime Rate in effect on such day plus 7.0%. Any change in the Term Loan Alternate Base Rate due to a change in the Prime Rate shall be effective from and including the effective day of such change in the Prime Rate.
Sample 1

Examples of Term Loan Alternate Base Rate in a sentence

  • In the event of any such determination (which shall not, in itself, cause a Benchmark Replacement to occur), until Collateral Agent shall have advised Borrower, Administrative Agent and Lenders that the circumstances giving rise to such notice no longer exist, any request by Borrower for a Credit Extension pursuant to Section 1.2 and 2.4 shall be deemed to be a request for a Credit Extension at the Term Loan Alternate Base Rate.

Related to Term Loan Alternate Base Rate

  • Alternate Base Rate means, for any day, a rate per annum equal to the greater of (a) the Prime Rate in effect on such day and (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%. Any change in the Alternate Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective from and including the effective date of such change in the Prime Rate or the Federal Funds Effective Rate, respectively.

  • 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.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • 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%.

  • Base Rate Margin has the meaning set forth in the definition of Applicable Margin.