Term XXXXX Rate has the meaning specified in the definition of “Alternative Currency Term Rate”.
Term XXXXX Rate means, for any calculation, with respect to any Revolver Loan denominated in Canadian Dollars, Term XXXXX for a tenor comparable to the applicable Interest Period, as published 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) on the day that is two Business Days prior to the first day of such Interest Period (or, if such day is not a Business Day, then on the immediately preceding Business Day) with a term equivalent to such Interest Period plus the Term XXXXX Adjustment for such Interest Period.
Term XXXXX Rate has the meaning specified in the definition of “Term XXXXX”.
Examples of Term XXXXX Rate in a sentence
The Administrative Agent shall promptly notify the Borrowers and the Banks of each determination of a Eurocurrency Rate, Adjusted Term XXXXX Rate, Adjusted Term SOFR Rate, Adjusted Daily Simple SOFR, Adjusted Daily Simple XXXXX and/or Adjusted Daily Simple XXXXX.
Upon determining the Term XXXXX Rate, Term SOFR or Alternative Currency Term Rate for any Interest Period, Agent shall promptly notify the Administrative Borrower by telephone or electronically and, if requested by the Administrative Borrower, shall confirm any telephonic notice in writing.
From and after the Term XXXXX Activation Date, if, upon the expiration of any Interest Period in respect of any Term XXXXX Rate Loans, Administrative Borrower shall have failed to deliver a Notice of Conversion/Continuation with respect thereto as required above, the Applicable Canadian Borrower shall be deemed to have elected to continue such Loans as Term XXXXX Rate Loans with an Interest Period of one month.
From and after the Term XXXXX Activation Date, during any Event of Default, Agent may (and shall at the direction of Required Multicurrency Facility Lenders) declare that no Loan may be made, converted or continued as a Term XXXXX Rate Loan.
Notwithstanding anything to the contrary set forth herein, prior to the Term XXXXX Activation Date, the Borrowers may not borrow any Multicurrency Facility Loans as Term XXXXX Rate Loans or convert any Multicurrency Facility Loans to Term XXXXX Rate Loans.
More Definitions of Term XXXXX Rate
Term XXXXX Rate has the meaning set forth in the definition of “Eurocurrency Rate”.
Term XXXXX Rate means, with respect to any Term XXXXX Rate Borrowing denominated in Canadian dollars, the Term XXXXX Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term XXXXX Determination Day”) that is two (2) Business Days prior to the first day of such Interest Period, as such rate is published by the Term XXXXX Administrator; provided, however, that if as of 1:00 p.m. (Toronto time) on any Periodic Term XXXXX Determination Day the Term XXXXX Reference Rate for the applicable tenor has not been published by the Term XXXXX Administrator and a Benchmark Replacement Date with respect to the Term XXXXX Reference Rate has not occurred, then Term XXXXX Rate will be the Term XXXXX Reference Rate for such tenor as published by the Term XXXXX Administrator on the first preceding Business Day for which such Term XXXXX Reference Rate for such tenor was published by the Term XXXXX Administrator so long as such first preceding Business Day is not more than five (5) Business Days prior to such Periodic Term XXXXX Determination Day; provided, further, that if Term XXXXX Rate shall ever be less than the Floor, then Term XXXXX Rate shall be deemed to be the Floor.
Term XXXXX Rate and “Interest Period”, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational matters (including, for the avoidance of doubt, the definitions of “Business Day” and “U.S. 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, 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 for such Agreed Currency (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 for such Agreed Currency exists, in such other manner of administration as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement and any other Loan Document).
Term XXXXX Rate has the meaning assigned to it in the definition of Alternative Currency Term Rate. “Term Facility” means, at any time, (a) at any time during the Availability Period in respect of such Facility, the sum of (i) the aggregate amount of the Term Commitments at such time and (ii) the aggregate principal amount of the Term Loans of all Term Lenders outstanding at such time and (b) thereafter, the aggregate principal amount of the Term Loans of all Term Lenders outstanding at such time. “Term Lender” means (a) at any time on or prior to the Closing Date, any Lender that has a Term Commitment at such time, (b) at any time during the Availability Period in respect of the Term Facility, any Lender that has a Term Commitment or that holds Term Loans at such time and (c) at any time after the Availability Period in respect of the Term Facility, any Lender that holds Term Loans at such time. “Term Loan” means an advance made by any Term Lender under the Term Facility (including, for the avoidance of doubt the Second Amendment Term Loans provided on the Second Amendment Effective Date). “Term Loan (First Draw)” means the initial advance of Term Loans on the Specified Acquisition Closing Date. It is understood and agreed that the Term Loan (First Draw) was advanced on the Specified Acquisition Closing Date in an amount equal to $600,000,000. 38 “Term Note” means a promissory note made by the Borrower in favor of a Term Lender evidencing Term Loans made by such Term Lender, substantially in the form of Exhibit H. “Term Rate Loan” means a Term SOFR Loan or an Alternative Currency Term Rate Loan. “Term SOFR” means: (a) for any Interest Period with respect to a Term SOFR Loan, the rate per annum equal to the Term SOFR Screen Rate two U.S. Government Securities Business Days prior to the commencement of such Interest Period with a term equivalent to such Interest Period; provided that if the rate is not published prior to 11:00 a.m. on such determination date then Term SOFR means the Term SOFR Screen Rate on the first U.S. Government Securities Business Day immediately prior thereto, in each case, plus the SOFR Adjustment for such Interest Period; and (b) for any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to the Term SOFR Screen Rate with a term of one month commencing that day; provided that if the Term SOFR determined in accordance with either of the foregoing clauses (a) or (b) of this definition would otherwise be less th...
Term XXXXX Rate has the meaning specified in the definition of “Alternative Currency Term Rate”. “Term SOFR” means: (a) for any Interest Period with respect to a Term SOFR Loan, the rate per annum equal to the Term SOFR Screen Rate two (2) U.S. Government Securities Business Days prior to the commencement of such Interest Period with a term equivalent to such Interest Period; provided, that, if the rate is not published prior to 11:00 a.m. on such determination date, then Term SOFR means the Term SOFR Screen Rate on the first U.S. Government Securities Business Day immediately prior thereto; in each case, plus the applicable SOFR Adjustment; and (b) for any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to the Term SOFR Screen Rate with a term of one (1) month commencing that day; provided, that, if Term SOFR determined in accordance with either of the foregoing clause (a) or clause (b) would otherwise be less than zero, Term SOFR shall be deemed zero for purposes of this Agreement. “Term SOFR Conforming Changes” means, with respect to the use, administration of or any conventions associated with SOFR or any proposed Term SOFR Successor Rate or Term SOFR, as applicable, any conforming changes to the definitions of “Base Rate”, “SOFR”, “Term SOFR” and “Interest Period”, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational matters (including, for the avoidance of doubt, the definitions of “Business Day” and “U.S. 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 Company), 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 determines (in consultation with the Company) is reasonably necessary in connection with the administration of this Agreement and any other Loan Document). “Term SOFR Loan” means a Loan that bears interest at a rate based on clause (a) of the def...
Term XXXXX Rate means Term XXXXX for a tenor comparable to the applicable Interest Period, as published 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) on the day that is two Business Days prior to the first day of such Interest Period (or, if such day is not a Business Day, then on then on the immediately preceding Business Day) with a term equivalent to such Interest Period plus the Term XXXXX Adjustment for such Interest Period; provided, that, if Term XXXXX Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.
Term XXXXX Rate means the rate per annum equal to the forward-looking term rate based on XXXXX, as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Agent from time to time) on the Rate Determination Date with a term equivalent to such Interest Period plus the applicable Term XXXXX Adjustment for such Interest Period.