Examples of Term XXXXX Reference Rate in a sentence
The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of the Term SOFR Reference Rate, Term SOFR, Term XXXXX Reference Rate, Term XXXXX, Adjusted Term XXXXX, any alternative, successor or replacement rate (including any Benchmark Replacement (Dollar) or Canadian Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower.
More Definitions of Term XXXXX Reference Rate
Term XXXXX Reference Rate means the forward-looking term rate based on XXXXX. “Term Lender” means a Lender with a Term Commitment or an outstanding Term Loan (which, for the avoidance of doubt, shall include the Delayed Draw Incremental Lenders). “Term Loans” means Second Incremental Amendment Term Loans (which, for the avoidance of doubt, shall include the Delayed Draw Incremental Term Loans upon funding), Other First Lien Term Loans and First Lien Incremental Term Loans, as the context requires. “Term Maturity Date” means (i) the Second Incremental Amendment Term Maturity Date or (ii) with respect to any Term Lender that has the maturity date of its Term Loans extended pursuant to a Permitted Amendment, the extended maturity date set forth in any such Loan Modification Agreement. “Term SOFR” means, (a) for any calculation with respect to a SOFR Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day, and (b) for any calculation with respect to an ABR Loan on any day, the Term SOFR Reference Rate for a tenor of one month on the day (such day, the “ABR Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to such day, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any ABR Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with re...
Term XXXXX Reference Rate means, for an applicable tenor, the forward-looking term rate based on XXXXX.
Term XXXXX Reference Rate. (TSRR)” refers to the term XXXXX reference rate governed and published by Intercontinental Exchange Benchmark Administration Limited (or other entities that take over its pricing benchmark), displayed on certain pages of financial telecommunication terminals Bloomberg/Refinitv (or other pages of information service institutions recognized by Lender showing this pricing benchmark) that can be applied to loans of the British pound. “London Interbank Offered Rate (LIBOR)” refers to London interbank offered rate governed by Intercontinental Exchange, Inc. (or other entities that take over its pricing benchmark), displayed on certain pages of financial telecommunication terminals Bloomberg/Refinitv (or other pages of information service institutions recognized by Lender showing this pricing benchmark) that can be applied to loans of the dollar. “Bank working day” and “working day” refer to the opening day of the bank’s corporate business in the place where the Lender is located, excluding legal holidays and rest days (except for business due to holiday adjustment). If the loan date, repayment date, interest payment date, maturity date and other obligation fulfillment dates meet non-bank working day, it shall be postponed to the next bank working day accordingly. “Foreign currency working day” refers to the bond trading days of the U.S. government (excluding Saturdays and Sundays) recommended by the Securities Industry and Financial Markets Association (or its successor) to the Fixed Income divisions of its members for SOFR or Term SOFR Reference Rate; refers to the normal opening day (excluding Saturdays and Sundays) of the commercial banks in London for LIBOR or TSRR; refers to Euro payment cleaning days of TARGET 2 for EURIBOR; refers to the normal opening day (excluding Saturdays and Sundays) of banks in Hong Kong for HIBOR; and refers to the normal opening day (excluding Saturdays and Sundays) of banks in Tokyo for TORF.
Term XXXXX Reference Rate means the forward looking term rate based on XXXXX. “Term Loans” means the Term A Loans and the Delayed Draw Term Loans (if any), collectively.
Term XXXXX Reference Rate means the forward looking term rate based on XXXXX; “ Term SOFR ” means, for the applicable tenor, the Term SOFR Reference Rate on the day (such day, the “ Term SOFR Determination Day ”) that is two (2) U.S. Government Securities Banking Days prior to in the case of SOFR Advances, the first (1st) day of such applicable Interest Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Banking Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government 4166 - 0486 - 9966.2 4166 - 0486 - 9966.7
Term XXXXX Reference Rate means the forward-looking term rate based on XXXXX, as administered by the Term XXXXX Reference Rate Administrator. “Term XXXXX Reference Rate Administrator” means CanDeal Benchmark Administration Services Inc. or TSX Inc. (or any successor administrator of the Term XXXXX Reference Rate selected by the Administrative Agent in its reasonable discretion). “Term Documents” means the “Loan Documents” as such term is defined in the Term Loan Agreement.
Term XXXXX Reference Rate means the forward-looking term rate based on XXXXX. (249) (231) “Termination Date” means March 18, 2027, as extended from time to time hereunder. CREDIT AGREEMENT LEGAL_43503785.7 (250) (232) “Threshold Amount” means (a) with respect to the Master LP Obligors, $10,000,000 calculated on an aggregate basis for all Master LP Obligors, and (b) with respect to the Lithia Canada Dealers, $500,000 calculated on an aggregate basis for all the Lithia Canada Dealers. (251) (233) “Unadjusted Canadian Benchmark Replacement” means the applicable Canadian Benchmark Replacement excluding the related Canadian Benchmark Replacement Adjustment. (252) (234) “Used Leased Unit” means a reconditioned passenger car or Light Duty Truck, motorcycle or boat listed in the current Canadian Black Book (current plus up to eight previous model year units) for domestic lease by the applicable Borrower as lessor to third party lessees with: (a) an odometer reading of 150,000 km or less; and (b) a Canadian Black Book Value or acquisition cost (net of HST) of at least $7,500; or (c) as otherwise approved by the Administrative Agent. (253) (235) “Used Motor Vehicles” means reconditioned used passenger cars, motorcycles and Light Duty Trucks for domestic sale. (254) (236) “Used Vehicle Flooring Borrowers” means, collectively, Master Borrower and each other Used Vehicle Flooring Borrower that may be added from time to time pursuant to a Joinder Agreement, and their successors and permitted assigns, and “Used Vehicle Flooring Borrower” means any one of them. (255) (237) “Used Vehicle Flooring Borrowing Base” means, as of any date of determination, an amount equal to eighty-five percent (85%) of the sum, without duplication, of the following: (a) the net book value of Used Motor Vehicles of Master Borrower and any other Borrowers which are Eligible Used Motor Vehicles (net of GST / HST), minus (b) the aggregate outstanding principal amount of any indebtedness or obligation to any Person (other than the obligations to the Administrative Agent and Lenders under the Loan Documents) which is secured by such Eligible Used Motor Vehicles, including but not limited to amounts owing to holders of any Lien in a Used Motor Vehicle at the time it is traded in, sold to, or otherwise acquired by a Borrower until such amounts have been paid in full. Notwithstanding the foregoing, the net book value of motorcycles constituting Used Motor Vehicles included in the Used Vehicle Flooring Facility Borrowing Base sh...