Applicable Variable Rate definition

Applicable Variable Rate means (i) with respect to any U.S. dollar-denominated Notes, three-month LIBOR and (ii) with respect to any euro-denominated Notes, three-month EURIBOR, in each case as determined by the Calculation Agent in accordance with the terms hereof; provided, if at any time the Applicable Variable Rate as so determined is less than 1.00%, the Applicable Variable Rate shall be deemed to be 1.00%.
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Applicable Variable Rate shall have the meaning given to it in Item 8(a) of the Terms Schedule.
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Applicable Variable Rate means first the Initial Interest Rate, and then, after the Initial Interest Rate Period and for each subsequent Interest Rate Period, the variable interest rate determined by the Paying Agent on each applicable Interest Determination Date, which interest rate shall be calculated by taking an average of the interest rate for each month that is equal to 120% of the Applicable Federal Rate for debt instruments with a term of not over three years during the applicable Interest Rate Period.
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Examples of Applicable Variable Rate in a sentence

  • If three quotations are provided, the Applicable Variable Rate shall be the arithmetic average of the quotations provided.

  • If the Major Banks selected as aforesaid by the Company are not quoting such rates as mentioned above, the Applicable Variable Rate for such Interest Period will be the Applicable Variable Rate determined with respect to the immediately preceding Interest Period.

  • If at least two quotations are provided, the Applicable Variable Rate will be the arithmetic average of the quotations provided.

  • The determination of the Applicable Variable Rate by the Calculation Agent shall, in the absence of gross negligence or willful misconduct, be final and binding on all parties.

  • The Applicable Variable Rate shall be adjusted daily, with each change to the Applicable Variable Rate, with any adjustments to be effective as of the opening of business on the day that any change in the Applicable Variable Rate becomes effective.

  • The Applicable Variable Rate shall be determined daily on each Business Day and shall be increased or decreased, as applicable, automatically as of the opening of business on the date of each such determination.

  • The principal balance of the Term Loan outstanding from time to time shall bear interest from the date such principal amount is advanced until paid (whether at stated maturity, on acceleration, or otherwise) at a variable rate per annum equal to the sum of 3.50% plus the Applicable Variable Rate in effect from time to time.

  • The Applicable Variable Rate shall be ______% during the Initial Rate Period, and thereafter shall be, for each subsequent Interest Rate Period, a rate per annum equal to 120% of the Applicable Federal Rate for debt instruments with a term of not over three years, which interest rate shall be determined by the Trustee on each Interest Determination Date.

  • The Maturity Date of the Notes shall be January 15, 2008 and the Notes shall bear interest on the unpaid Principal at the Applicable Variable Rate.

  • Upon requesting the first Revolving Loan, the Borrower shall notify the Bank, in the same manner in which such Revolving Loan is requested, whether the Borrower elects initially to have the Bank's Prime Rate or the Secondary Market CD Rate used in determining the Revolving Loan Applicable Variable Rate for the Interest Period in which the date such Revolving Loan is made falls.


More Definitions of Applicable Variable Rate

Applicable Variable Rate means first the Initial Interest Rate, and then, after the Initial Interest Rate Period and for each subsequent Interest Rate Period, the variable interest rate determined by the Trustee on each applicable Interest Determination Date, which interest rate
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Related to Applicable Variable Rate

  • Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.68%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Applicable Rate means a percentage per annum equal to:

  • Applicable Advance Rate means the following:

  • Applicable Interest Rate Margin means (a) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (b) as to any LIBO Rate Advance, the applicable rate per annum set forth below under the caption “LIBO Rate Spread”, determined by reference to the higher of (i) the rating of Mondelēz’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Standard & Poor’s for Mondelēz) and (ii) the rating of Mondelēz’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Moody’s for Mondelēz), in each case on such date: A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.805 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 0.920 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.030 % 1.030 % BBB by Standard & Poor’s Baa2 by Moody’s 0.140 % 1.140 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.250 % 1.250 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Interest Rate Margin shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Interest Rate Margin shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders and (z) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders, the Applicable Interest Rate Margin shall be 0.250% as to any Base Rate Advance and 1.250% as to any LIBO Rate Advance.