UK Base Rate means, with respect to UK Swingline Loan made in Dollars or any Optional Currency, a fluctuating rate of interest per annum equal to the rate of interest in effect for such day as announced by and used from time to time by the local branch of Bank of America in the jurisdiction in which such currency is funded as its “base rate” with respect to such currency. Any change in such rate shall take effect at the opening of business on the day of such change.
UK Base Rate means, for any day, a rate per annum equal to the UK Administrative Agent’s reference rate for the applicable currency being the rate from time to time set by the UK Administrative Agent based on various factors including the UK Administrative Agent’s cost of funds and desired return and general economic conditions and which is used as a reference point for pricing loans made by it in the applicable currency. The UK Base Rate in effect under this Agreement with respect to Loans in a particular currency will be the same rate quoted generally by the UK Administrative Agent with respect to other borrowers of loans in the same currency priced based on the UK Administrative Agent’s “base” or “reference” rate; provided that such rate may not reflect the lowest rate quoted by the UK Administrative Agent or its Affiliates with respect to loans made by them.
UK Base Rate on any date, a rate per annum equal to (i) with respect to Dollars, the Term SOFR Screen Rate with a term of one month commencing on the first day of the then-current calendar month, plus 1%, (ii) with respect to Euros, the Alternative Currency Term Rate with a term of one month commencing on the first day of the then-current calendar month, plus 1% or (iii) with respect to Pounds Sterling, the Alternative Currency Daily Rate on the first day of the then-current calendar month, plus 1%, as applicable.
Examples of UK Base Rate in a sentence
If no election as to the Type of UK Revolving Loan Borrowing is specified, then the requested Revolving Loan shall be a UK Base Rate Loan.
UK Protective Advances may be made in Dollars, British Pounds Sterling or Euros and shall be UK Base Rate Borrowings.
Each US Swingline Loan and Canadian Swingline Loan of Dollars shall be an ABR Loan, each Canadian Swingline Loan of Canadian Dollars shall be a Canadian Prime Rate Loan and each UK Swingline Loan shall be a UK Base Rate Loan.
U.K. Base Rate Loan: a U.K. Revolver Loan, or portion thereof, funded in Dollars and bearing interest calculated by reference to U.K. Base Rate.
The UK Swingline Loans shall be UK Base Rate Loans denominated in Pounds Sterling, Euros or Dollars and shall bear interest as set forth in Section 3.1. Each UK Swingline Loan shall constitute a Revolver Loan and a Multicurrency Facility Loan for all purposes (subject, in the case of unused line fees, to Section 3.2.1(a)), except that payments thereon shall be made to the UK Swingline Lender for its own account.
More Definitions of UK Base Rate
UK Base Rate means the rate which the U.K. Swingline Bank announces from time to time as its prime lending -171-
UK Base Rate means the base commercial lending rate of Lloyds Bank Plc., as publicly announced in London, England to be in effect from time to time, such rate to be adjusted automatically, without notice, on the effective date of any change in such rate.
UK Base Rate with respect to Revolving Loans denominated in Sterling, the rate equal to the highest of (A) the interest per annum as set and published by the Bank of England known as the BOE Official Bank Rate (or any successor rate), and (B) the 3 month LIBOR, (ii) with respect to Revolving Loans denominated in Euros, the rate equal to the highest of (A) the rate as set and published by the European Central Bank known as the ECB Main Refinancing Rate (or any successor rate), and (B) the 3 month LIBOR, (iii) with respect to Revolving Loans denominated in Dollars, a fluctuating rate per annum equal to the highest of (A) the Federal Funds Effective Rate plus 1/2 of 1%, (B) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (iii) the Adjusted LIBOR on such day (or if such day is not a Business Day, the immediately preceding Business Day) for a deposit in Dollars, with a maturity of one month plus 1.00%. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.
UK Base Rate means the UK Agent’s reference rate for Pounds Sterling loans, being the rate from time to time set by the UK Agent based on various factors including the cost of funds, desired return and general economic conditions and which is used as a reference point for pricing loans made by it in Pounds Sterling.
UK Base Rate. (i) with respect to Revolver Loans denominated in Sterling, the rate equal to the highest of (A) the interest per annum as set and published by the Bank of England known as the BOE Official Bank Rate (or any successor rate), and (B) the 3 month LIBOR, (ii) with respect to Revolver Loans denominated in Euros, the rate equal to the highest of (A) the rate as set and published by the European Central Bank known as the ECB Main Refinancing Rate (or any successor rate), and (B) the 3 month LIBOR, (iii) with respect to Revolver Loans denominated in Dollars, a fluctuating rate per annum equal to the highest of (A) the Federal Funds Effective Rate plus 1/2 of 1%, (B) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (C) the Adjusted LIBOR on such day (or if such day is not a Business Day, the immediately preceding Business Day) for a deposit in Dollars, with a maturity of one month plus 1.00%; provided, that in no event shall the UK Base Rate be less than zero. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.
UK Base Rate means, with respect to Euros, Sterling and Dollars, funded outside the U.S., the Eurocurrency Rate as of 11.00 am on the first Business Day in each month for a 1 month period, provided that to the extent a comparable or successor rate is approved by the Administrative Agent in connection herewith, the approved rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent. Any change in such rate shall take effect at the opening of business on the day of such change.
UK Base Rate the rate of interest announced or quoted by Fleet UK as its U.K. Base Rate for Sterling, whether or not such rate is the lowest rate charged by Fleet UK to its most preferred borrowers; and, if such UK Base Rate is discontinued by Fleet UK as a standard, a comparable reference rate designated by Fleet UK as a substitute therefor shall be the UK Base Rate.