Calculation of Base Rates Sample Clauses

The 'Calculation of Base Rates' clause defines the method by which the base interest rate applicable to a financial transaction is determined. Typically, this clause specifies the reference rate to be used—such as LIBOR, EURIBOR, or a central bank rate—and outlines the process for identifying the relevant rate on a particular date, including any adjustments or fallback procedures if the standard rate is unavailable. By clearly establishing how the base rate is calculated, this clause ensures transparency and consistency in interest computations, thereby reducing the risk of disputes between parties over payment obligations.
Calculation of Base Rates. Unless otherwise specified to the Calculation Agent with respect to any particular note, the calculation date for each applicable Interest Determination Date for any Note shall be the earlier of (i) the tenth calendar day after such Interest Determination Date, or if any such day is not a Business Day (as defined in the Indenture) the next succeeding Business Day or (ii) the Business Day preceding the applicable Interest Payment Date or Maturity, as the case may be. The Calculation Agent shall notify the Issuer and the Trustee of such Base Rate on such calculation date. If at any time the Calculation Agent is not also acting as Trustee under the Indenture, the Issuer shall, upon the issuance of each Floating Rate Note having a different Base Rate or different Interest Determination Dates than the Base Rate or Interest Determination Dates for any prior Floating Rate Note, notify such Calculation Agent of such Interest Determination Dates and Base Rate for such Floating Rate Note.
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Calculation of Base Rates. As soon as reasonably practical on or after each interest determination date for any Floating Rate Note, the Calculation and Exchange Rate Agent shall determine the applicable interest rate for such Note (computed without regard to the Spread or Spread Multiplier, if any, applicable to such Note) (the “Interest Rate Base”) and notify the Company and the Trustee of such Interest Rate Base. Upon the request of the Holder of any Floating Rate Note, the Calculation and Exchange Rate Agent shall provide the Interest Rate Base then in effect with respect to such Note and, if determined, the Interest Rate Base that will become effective on the next Interest Reset Date with respect to such Note. All Interest Rate Base determinations made by the Calculation and Exchange Rate Agent with respect to the Floating Rate Notes, shall, in the absence of manifest error, be conclusive for all purposes and binding upon the Company. Upon the issuance and sale of any Floating Rate Note, the Company shall promptly cause the Calculation and Exchange Rate Agent to receive a copy of the pricing supplement with respect to such Note.
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Calculation of Base Rates. The calculation date (the “Calculation Date”) for each applicable Interest Determination Date for any Note shall be the earlier of (i) the tenth calendar day after such Interest Determination Date or, if any such day is not a Business Day, the next succeeding Business Day and (ii) the Business Day preceding the applicable Interest Payment Date or date of Maturity, as the case may be. The Calculation Agent shall notify the Issuer and the Trustee of the applicable interest rate on or prior to each such Calculation Date. If at any time the Calculation Agent is not also acting as Trustee under the Indenture, the Issuer shall, upon the issuance of each Floating Rate Note having a different Base Rate or different Interest Determination Dates than the Base Rate or Interest Determination Dates for any prior Floating Rate Note, notify such Calculation Agent of such Interest Determination Dates and the applicable interest rate base(s) or formula for such Floating Rate Note.
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Calculation of Base Rates. (i) The Calculation Agent shall calculate the interest rate and the amount of interest due on each of the Floating Rate Notes for each interest accrual period and communicate the same to the Issuer upon terms and conditions contained herein and in the Notes. The provisions of the Notes with respect to interest rate calculation shall not be changed in any respect without the express consent of the Calculation Agent. The Issuer shall provide the Calculation Agent with not less than two (2) business days' notice of the calculation date on which a particular Floating Rate calculation is to be made by the Calculation Agent, and the Calculation Agent shall notify the Issuer of such Floating Rate calculation on such calculation date and may confirm such calculation in writing within twenty-four (24) hours after so notifying the Issuer; (ii) in no event shall the interest rate be less than the minimum interest rate, if any, or higher than the maximum interest rate, if any, designated in the applicable Floating Rate Note and in no event shall the interest rate on the Notes be higher than the maximum rate permitted by New York law as the same may be modified by United states law of general application; (iii) the Calculation Agent shall calculate the amount of interest payable on each Floating Rate Note in the manner and at the times set forth in such Note; and (iv) as soon as practicable after each Interest Determination Date, the Calculation Agent will cause to be forwarded to the Issuer information regarding the interest rates, the interest periods, the amount of interest for each interest period and the relevant Interest Payment Dates. The Calculation Agent will, upon the request of any holder of any Floating Rate Note, provide the interest rate which will become effective as a result of a determination made on the most recent Interest Determination Date with respect to such Note.
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Calculation of Base Rates. The Trustee shall determine the Base Rates and communicate the same to the Bank in the manner provided in the Notes and upon the terms and conditions contained herein. The Trustee shall notify by telephone or electronic transmission the applicable Agents (at the Agents' notice addresses set forth in the Distribution Agreement) of such Base Rate calculation on the applicable Calculation Date (defined herein below).
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Calculation of Base Rates. (a) The Calculation Agent shall calculate the amount of interest on the Floating Rate Notes and communicate the same to the Company and Harris Trust and Savings Bank (the "Trustee") upon the terms and conditions contained herein. The Company shall cause the Trustee to pr▇▇▇▇▇ the Calculation Agent with not less than two (2) but not more than seven (7) business days notice of the date on which a particular calculation is to be made by the Calculation Agent (the "Calculation Date"), and the Calculation Agent shall notify the Trustee of such calculation on such Calculation Date and shall confirm such calculation in writing within twenty-four (24) hours after so notifying the Trustee. (b) In no event shall the interest rate be less than the minimum interest rate, if any, or higher than the maximum interest rate, if any, designated in the applicable pricing supplement. (c) The Calculation Agent shall calculate the amount of interest payable on each Floating Rate Note in the manner and at the times set forth in such Note. (d) As soon as practicable after each Calculation Date, the Calculation Agent will cause to be forwarded to the Company and the Trustee information regarding the interest rates, the interest periods, the amount of interest for each interest period and the relevant Interest Payment Dates. The Calculation Agent will, upon the request of any holder of any Floating Rate Note, provide the interest rate which will become effective as a result of a determination made with respect to the most recent Interest Determination Date with respect to such Note.
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Calculation of Base Rates. As soon as reasonably practical on or after each Interest Determination Date set forth in a Floating Rate Note (but on or before the applicable Calculation Date provided in such Note), the Calculation Agent shall (i) determine the applicable Base Rate in accordance with such Floating Rate Note and (ii) determine the amount of interest payable on such Floating Rate Note on the applicable Interest Payment Date or maturity, redemption or repayment date, as the case may be, and shall notify the Issuer, the Trustee and the Paying Agent of such Base Rate and amount of interest so payable. If at any time the Calculation Agent is not also acting as Trustee under the Indenture, the Issuer will cause the Trustee to give the Calculation Agent at least three Business Days notice of each Interest Determination Date. The Calculation Agent will, upon the request of the holder of any Floating Rate Note, provide the interest rate then in effect with respect to such Floating Rate Note and, if determined, the interest rate with respect to such Floating Rate Note which will become effective on the next Interest Reset Date. In the event that the calculation of the applicable Base Rate requires the Calculation Agent to select (i) leading nonbank dealers in negotiable U.S. dollar certificates of deposit in New York City (in connection with determining the CD Rate), (ii) leading dealers of commercial paper in New York City (in connection with determining the Commercial Paper Rate), (iii) leading brokers of U.S. dollar Federal Funds transactions in New York City (in connection with determining the Federal Funds Rate), (iv) principal London offices of major reference banks in the London interbank market (in connection with determining LIBOR), (v) major money center banks in New York City (in connection with determining the Prime Rate), (vi) leading primary United States government securities dealers (in connection with determining the Treasury Rate), or (vii) leading primary United States government securities dealers in New York City (in connection with determining the CMT Rate), the Calculation Agent will notify the Issuer, prior to the applicable Calculation Date, in accordance with Section 12 hereof, of which entities it has so selected; PROVIDED, HOWEVER, that any failure to so notify the Issuer will have no effect on the validity of the Notes.
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Calculation of Base Rates. As soon as reasonably practical on or after each Interest Determination Date set forth in each Floating Rate Note, the Calculation Agent shall determine the applicable Base Rate and shall notify the Issuer and the Trustee of such Base Rate. The Calculation Agent will, upon the request of the holder of any Floating Rate Note, provide the interest rate then in effect and, if different, the interest rate which will become effective as a result of a determination made on the most recent Interest Determination Date with respect to such Floating Rate Note. All interest rate determinations made by the Calculation Agent with respect to the Floating Rate Notes shall, in the absence of manifest error, be conclusive for all purposes and binding upon the Issuer. If at any time the Calculation Agent is not also acting as Trustee under the Indenture, the Issuer will cause the Trustee to give the Calculation Agent as least three business days notice of each Interest Determination Date.
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Calculation of Base Rates. As soon as reasonably practical on or after each interest determination date, but in no event later than the applicable interest calculation date, for the Notes, the Calculation Agent shall determine the applicable Base Rate and notify the Issuer of such Base Rate. Upon the written request of the registered holder of any Note, the Calculation Agent will provide the Base Rate then in effect with respect to such Note and, if determined, the applicable Base Rate that will become effective with respect to such Note as of the next interest reset date.
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Related to Calculation of Base Rates

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • Interest Rates and Letter of Credit Fee Rates Payments and Calculations (a) Interest Rates. Except as provided in Section 2.13(c) and Section 2.15(a), all Obligations (except for the undrawn portion of the face amount of Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin, or (ii) the maximum rate of interest allowed by applicable laws; provided, that following notice to Borrower in accordance with Section 2.15(a) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal, during the duration of the circumstances described in Section 2.15(a), to the lesser of (A) the Base Rate plus the Applicable Margin as calculated pursuant to Section 2.15(a) or (B) the maximum rate of interest allowable by applicable laws.

  • Calculation of Amounts Binding Effect of Interpretations and Actions of Master Servicer...............................

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the Advance Rates of the Value of each Portfolio Investment (excluding any Cash Collateral held by the Administrative Agent pursuant to Section 2.05(k) or the last paragraph of Section 2.09(a)); provided that: (a) the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments in a consolidated group of corporations or other entities (collectively, a “Consolidated Group”), in accordance with GAAP, that exceeds 10% of Shareholders’ Equity of the Borrower (which, for purposes of this calculation shall exclude the aggregate amount of investments in, and advances to, Financing Subsidiaries) shall be 50% of the Advance Rate otherwise applicable; provided that, with respect to the Portfolio Investments in a single Consolidated Group designated by the Borrower to the Administrative Agent such 10% figure shall be increased to 12.5%; (b) the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments of all issuers in a Consolidated Group exceeding 20% of Shareholders’ Equity of the Borrower (which, for purposes of this calculation shall exclude the aggregate amount of investments in, and advances to, Financing Subsidiaries) shall be 0%; (c) the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments in any single Industry Classification Group that exceeds 20% of Shareholders’ Equity of the Borrower (which for purposes of this calculation shall exclude the aggregate amount of investments in, and advances to, Financing Subsidiaries) shall be 0%; provided that, with respect to the Portfolio Investments in a single Industry Classification Group from time to time designated by the Borrower to the Administrative Agent such 20% figure shall be increased to 30% and, accordingly, only to the extent that the Value for such single Industry Classification Group exceeds 30% of the Shareholders’ Equity shall the Advance Rate applicable to such excess Value be 0%; (d) no Portfolio Investment may be included in the Borrowing Base unless the Collateral Agent maintains a first priority, perfected Lien (subject to Permitted Liens) on such Portfolio Investment and such Portfolio Investment has been Delivered (as such term is used in and to the extent required under Section 7.01(a) of the Guarantee and Security Agreement) to the Collateral Agent, and then only for so long as such Portfolio Investment continues to be Delivered as contemplated therein; (e) the portion of the Borrowing Base attributable to Performing Non-Cash Pay High Yield Securities, Performing Non-Cash Pay Mezzanine Investments, Equity Interests and Non-Performing Portfolio Investments shall not exceed 20%; (f) the portion of the Borrowing Base attributable to Equity Interests shall not exceed 10% (it being understood that in no event shall Equity Interests of Financing Subsidiaries be included in the Borrowing Base); (g) the portion of the Borrowing Base attributable to Non-Performing Portfolio Investments shall not exceed 15% and the portion of the Borrowing Base attributable to Portfolio Investments that were Non-Performing Portfolio Investments at the time such Portfolio Investments were acquired shall not exceed 5%; and (h) the portion of the Borrowing Base attributable to Portfolio Investments invested outside the United States, Canada, the United Kingdom, Australia, Germany, France, Belgium, the Netherlands, Luxembourg, Switzerland, Denmark, Finland, Norway and Sweden shall not exceed 5% without the consent of the Administrative Agent. As used herein, the following terms have the following meanings:

  • Applicable Interest Rates (a) U.S.