ERISA Reportable Event. A reportable event with respect to a Guaranteed Pension Plan within the meaning of ss.4043 of ERISA and the regulations promulgated thereunder as to which the requirement of notice has not been waived. Eurocurrency Reserve Rate. For any day with respect to a Eurodollar Rate Loan, the maximum rate (expressed as a decimal) at which any lender subject thereto would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulations relating to such reserve requirements) against "Eurocurrency Liabilities" (as that term is used in Regulation D), if such liabilities were outstanding. The Eurocurrency Reserve Rate shall be adjusted automatically on and as of the effective date of any change in the Eurocurrency Reserve Rate. Eurodollar Business Day. Any day on which commercial banks are open for international business (including dealings in Dollar deposits) in London or such other eurodollar interbank market as may be selected by the Agent in its sole discretion acting in good faith. Eurodollar Lending Office. Initially, the office of each Bank designated as such in Schedule 1 hereto; thereafter, such other office of such Bank, if any, that shall be making or maintaining Eurodollar Rate Loans. Eurodollar Rate. For any Interest Period with respect to a Eurodollar Rate Loan, the rate of interest equal to (a) the rate at which the Agent's Eurodollar Lending Office is offered Dollar deposits two Eurodollar Business Days prior to the beginning of such Interest Period in the interbank eurodollar market where the eurodollar and foreign currency and exchange operations of such Eurodollar Lending Office are customarily conducted, for delivery on the first day of such Interest Period for the number of days comprised therein and in an amount comparable to the amount of the Eurodollar Rate Loan of the Agent to which such Interest Period applies, divided by (b) a number equal to 1.00 minus the Eurocurrency Reserve Rate, if applicable. Eurodollar Rate Loans. Revolving Credit Loans and Growth Loans bearing interest calculated by reference to the Eurodollar Rate.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Perkins Family Restaurants Lp)
ERISA Reportable Event. A reportable event with respect to a Guaranteed Pension Plan within the meaning of ss.4043 of ERISA and the regulations promulgated thereunder as to which the requirement of notice has not been waivedwaived by the regulations thereunder, or an event or condition which presents a material risk of a plan termination or any other event that may cause the Borrower or an ERISA Affiliate to incur liability or have a lien imposed on its assets under Title IV of ERISA. Eurocurrency Reserve Escrow Proceeds. Proceeds released from escrow under the Pledge and Escrow Agreement. Eurodollar Base Rate. For any day with respect to a See the definition of Eurodollar Rate Loan, the maximum rate (expressed as a decimal) at which any lender subject thereto would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulations relating to such reserve requirements) against "Eurocurrency Liabilities" (as that term is used in Regulation D), if such liabilities were outstanding. The Eurocurrency Reserve Rate shall be adjusted automatically on and as of the effective date of any change in the Eurocurrency Reserve Rate. Eurodollar Business Day. Any day on which commercial banks are open for international business (including dealings in Dollar deposits) in London or such other eurodollar interbank market as may be selected by the Agent in its sole discretion acting in good faith. Eurodollar Lending Office. Initially, the office of each Bank designated as such in Schedule 1 hereto; thereafter, such other office of such Bank, if any, that shall be making or maintaining Eurodollar Rate Loans. Eurodollar Rate. For any Interest Period with respect to a Eurodollar Rate Loan, a rate per annum determined by Agent pursuant to the rate following formula: Eurodollar Rate = Eurodollar Base Rate ------------------------------------ 1.00 - Eurodollar Reserve Percentage Where, Eurodollar Base Rate means, for such Interest Period (rounded upwards, as necessary, to the nearest 1/100 of interest equal to (a1%) the rate per annum equal to the British Bankers Association LIBOR Rate ("BBA LIBOR"), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by Agent from time to time) at which the Agent's Eurodollar Lending Office is offered Dollar deposits approximately 11:00 a.m., London time, two Eurodollar Business Days prior to the beginning commencement of such Interest Period in Period, for Dollar deposits (for delivery on the interbank eurodollar market where the eurodollar and foreign currency and exchange operations first day of such Interest Period) with a term equivalent to such Interest Period. If such rate is not available at such time for any reason, then the "Eurodollar Lending Office are customarily conductedBase Rate" for such Interest Period (rounded upwards, as necessary, to the nearest 1/100 of 1%) shall be the rate per annum determined by Agent to be the rate at which deposits in Dollars for delivery on the first day of such Interest Period for in same day funds in the number of days comprised therein and in an amount comparable to the approximate amount of the Eurodollar Rate Loan being made, continued or converted by Bank of the Agent America and with a term equivalent to which such Interest Period applies, divided would be offered by Bank of America's London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (bLondon time) a number equal two Business Days prior to 1.00 minus the Eurocurrency Reserve Rate, if applicablecommencement of such Interest Period. Eurodollar Reserve Percentage means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Bank, under regulations issued from time to time by the Board of Governors of the Federal Reserve System of the United States for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as "Eurocurrency liabilities"). The Eurodollar Rate Loans. Revolving Credit Loans and Growth Loans bearing interest calculated by reference to for each outstanding Eurodollar Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurodollar RateReserve Percentage.
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ERISA Reportable Event. A reportable event with respect to a Guaranteed Pension Plan within the meaning of ss.4043 section 4043 of ERISA and the regulations promulgated thereunder as to which the requirement of notice has not been waived. Eurocurrency Reserve RateEUROCURRENCY RESERVE RATE. For any day with respect to a Eurodollar Rate Loan, the maximum rate (expressed as a decimal) at which any lender bank subject thereto would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulations relating to such reserve requirements) against "Eurocurrency LiabilitiesEUROCURRENCY LIABILITIES" (as that term is used in Regulation D), if such liabilities were outstanding. The Eurocurrency Reserve Rate shall be adjusted automatically on and as of the effective date of any change in the Eurocurrency Reserve Rate. Eurodollar Business DayEURODOLLAR BUSINESS DAY. Any day on which commercial banks are open for international business (including dealings in Dollar deposits) in London or such other eurodollar interbank market as may be selected by the Agent in its sole discretion acting in good faith. Eurodollar Lending OfficeEURODOLLAR LENDING OFFICE. Initially, the office of each Bank Lender designated as such in Schedule SCHEDULE 1 attached hereto; thereafter, such other office of such BankLender, if any, that shall be making or maintaining a Eurodollar Rate LoansLoan. Eurodollar RateEURODOLLAR RATE. For any Interest Period with respect to a Eurodollar Rate Loan, the rate of interest equal to (a) the rate (rounded upwards to the nearest 1/16 of one percent) per annum at which the AgentReference Lender's Eurodollar Lending Office is offered Dollar deposits two (2) Eurodollar Business Days prior to the beginning of such Interest Period in the interbank eurodollar market where the eurodollar and foreign currency and exchange operations of such Eurodollar Lending Office are customarily conducted, for delivery on the first day of such Interest Period for the number of days comprised therein and in an amount comparable to the amount of the Eurodollar Rate Loan of the Agent to which such Interest Period applies, divided by (b) a number equal to 1.00 minus MINUS the Eurocurrency Reserve Rate. EURODOLLAR RATE LOAN. The Term Loan or the Term Loan Amount, if as applicable. Eurodollar Rate Loans. Revolving Credit Loans and Growth Loans , when bearing interest calculated by reference to the Eurodollar Rate. EVENT OF DEFAULT. See section 9.1 hereof. FACILITY FEE. See section 3.2 hereof. FEE LETTER. See section 3.1 hereof. FINANCIAL AFFILIATE. A Subsidiary of the bank holding company controlling any Lender, which Subsidiary is engaging in any of the activities permitted by section 4(e) of the Bank Holding Company Act of 1956 (12 U.S.C. section 1843). FIXED CHARGE COVERAGE RATIO. See section 7.1 hereof.
Appears in 1 contract
ERISA Reportable Event. A reportable event with respect to a Guaranteed Pension Plan within the meaning of ss.4043 Section 4043 of ERISA and the regulations promulgated thereunder as to which the requirement of notice has not been waivedthereunder. Eurocurrency Reserve RateEUROCURRENCY RESERVE RATE. For any day with respect to a Eurodollar Rate Loan, the maximum rate (expressed as a decimal) at which any lender bank subject thereto would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulations relating to such reserve requirements) against "Eurocurrency LiabilitiesEUROCURRENCY LIABILITIES" (as that term is used in Regulation D), if such liabilities were outstanding. The Eurocurrency Reserve Rate shall be adjusted automatically on and as of the effective date of any change in the Eurocurrency Reserve Rate. Eurodollar Business DayEURODOLLAR BUSINESS DAY. Any day on which commercial banks are open for international business (including dealings in Dollar deposits) in London or such other eurodollar interbank market as may be selected by the Administrative Agent in its sole discretion acting in good faith. Eurodollar Lending OfficeEURODOLLAR LENDING OFFICE. Initially, the office of each Bank Lender designated as such in Schedule SCHEDULE 1 hereto; thereafter, such other office of such BankLender, if any, that shall be making or maintaining Eurodollar Rate Loans. Eurodollar RateEURODOLLAR RATE. For any Interest Period with respect to a Eurodollar Rate Loan, the rate of interest equal to (a) the arithmetic average of the rates per annum for the Reference Lender (rounded upwards to the nearest 1/16 of one percent) of the rate at which the AgentReference Lender's Eurodollar Lending Office is offered Dollar deposits two Eurodollar Business Days prior to the beginning of such Interest Period in the interbank eurodollar market where the eurodollar and foreign currency and exchange operations of such Eurodollar Lending Office are customarily conducted, for delivery on the first day of such Interest Period for the number of days comprised therein and in an amount comparable to the amount of the Eurodollar Rate Loan of the Agent Reference Lender to which such Interest Period applies, divided by DIVIDED BY (b) a number equal to 1.00 minus MINUS the Eurocurrency Reserve Rate, if applicable. , at the time such Eurodollar Rate LoansLoan was requested. EURODOLLAR RATE LOANS. Revolving Credit Loans and Growth Loans bearing interest calculated by reference to the Eurodollar Rate.. EVENT OF DEFAULT. See Section 13.1. EXECUTIVE ORDER. See Section 7.15. EXISTING CREDIT AGREEMENT. As defined in the preamble hereto. EXISTING LETTERS OF CREDIT. Collectively, the letters of credit listed on SCHEDULE 1-A hereto issued under the Existing Credit Agreement. FACILITY FEE. See Section 2.2. -8-
Appears in 1 contract
ERISA Reportable Event. A reportable event with respect to a Guaranteed ---------------------- Pension Plan within the meaning of ss.4043 (S)4043 of ERISA and the regulations promulgated thereunder as to which the requirement of notice has not been waived. Eurocurrency Reserve Rate. For any day date with respect to a Eurodollar Rate ------------------------- Loan, the maximum rate (expressed as a decimal) at which any lender subject thereto would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulations relating to such reserve requirements) against "Eurocurrency Liabilities" (as that term is used in Regulation D), if such liabilities were outstanding. The Eurocurrency Reserve Rate shall be adjusted automatically on and as of the effective date of any change in the Eurocurrency Reserve Rate. Eurodollar Business Day. Any day on which commercial banks are open for ----------------------- international business (including dealings in Dollar deposits) in London or such other eurodollar interbank market as may be selected by the Agent in its sole discretion acting in good faith. Eurodollar Lending Office. Initially, the office of each Bank designated as ------------------------- such in Schedule 1 hereto; thereafter, such other office of such Bank, if any, -------- - that shall be making or maintaining Eurodollar Rate Loans. Eurodollar Rate. For any Interest Period with respect to a Eurodollar Rate --------------- Loan, the rate of interest equal to (a) the arithmetic average of the rates per annum for the Reference Bank (rounded upwards to the nearest 1/16 of one percent) of the rate at which the Agentsuch Reference Bank's Eurodollar Lending Office is offered Dollar deposits two (2) Eurodollar Business Days prior to the beginning of such Interest Period in the interbank eurodollar market where the eurodollar and foreign currency and exchange operations of such Eurodollar Lending Office are customarily conducted, for delivery on the first day of such Interest Period for the number of days comprised therein and in an amount comparable to the amount of the Eurodollar Rate Loan of the Agent Reference Bank to which such Interest Period applies, divided by (b) a number equal to 1.00 minus the Eurocurrency Reserve Rate, if applicable. Eurodollar Rate A Loans. Revolving Credit Loans Loans, all or any portion of the ----------------------- Term Loan A and Growth Loans all or any portion of any Advance bearing interest calculated by reference to the Eurodollar Rate. Eurodollar Rate B Loans. All or any portion of the Term Loan B bearing ----------------------- interest calculated by reference to the Eurodollar Rate. Eurodollar Rate Loans. The Eurodollar Rate A Loans and the Eurodollar Rate B --------------------- Loans.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Petro Stopping Centers L P)