Prevailing local time definition

Prevailing local time means the time where the commission is located.
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Prevailing local time means the prevailing local time in effect in Hartford, Connecticut. "Prime Rate" means a fluctuating rate of interest per annum equal to that rate per annum announced by Fleet National Bank or any successor thereto, from time to time, as being its prime rate of interest or base rate of interest, with a change in the Prime Rate to take effect simultaneously with each change in such announced rate. It is understood that such announced prime rate or base rate is merely a reference rate, not necessarily the lowest, which serves as the basis upon which effective rates of interest are calculated for obligations making reference thereto. "Project" has the meaning assigned thereto in the introductory clauses of this Agreement. "Related Documents" means the Letter of Credit, the Indenture, the Loan Agreement, the Bonds, the Pledge Agreement, the Mortgage, the Security Documents, and any other agreement or instrument guaranteeing, securing or otherwise relating to any of the foregoing. "Remarketing Agent" means ▇.▇. ▇▇▇▇▇▇▇ & Sons, Inc. or any successor thereto as remarketing agent under the Indenture. "Remarketing Agreement" means that certain Remarketing Agreement of even date herewith between the Remarketing Agent and the Borrower, and any modification thereof or substitution therefor. "Security Documents" means the Mortgage and Security Agreement, the Financing Statement, the Assignment of Contracts and Security Agreement, and the Guaranty as the same may be amended from time to time. "Tender Advance" has the meaning assigned to that term in Subsection 2(d) of this Agreement. "Tender Drawing" has the meaning assigned to that term in the Letter of Credit. "Termination Date" means the earliest of: (i) January 14, 2000 (unless extended as provided in Subsection 3(e) below), (ii) the date of payment of a Final Drawing drawn under the Letter of Credit, or (iii) the earlier termination of the Letter of Credit pursuant to the terms thereof. "Trustee" means State Street Bank and Trust Company, as trustee under the Indenture, or any successor as such trustee. "Unrestricted Investments" means at any time cash and cash- equivalents and other readily marketable securities of the Borrower as are unrestricted and are identified as such in financial statements provided by the Borrower to the Bank from time to time under this Agreement.
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Prevailing local time means the prevailing local time in effect in Hartford, Connecticut.
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Related to Prevailing local time

  • Local Time means (i) New York City time in the case of a Loan, Borrowing or LC Disbursement denominated in Dollars and (ii) local time in the case of a Loan, Borrowing or LC Disbursement denominated in a Foreign Currency (it being understood that such local time shall mean London, England time unless otherwise notified by the Administrative Agent).

  • Eastern Prevailing Time means either Eastern Standard Time or Eastern Daylight Savings Time, as in effect from time to time.

  • Prevailing Exchange Rate means, for purposes of translating, as of any date, any amount in a non-U.S. currency to U.S. dollars, the spot mid-rate of exchange between such currencies prevailing as of 4 p.m., New York City time, on such date, as displayed on, or derived from, Bloomberg page “BFIX” (or, if such page is not available, its equivalent successor page) in respect of such currencies. If such rate cannot be determined as provided in the immediately preceding sentence on such date (which, for the purpose of this definition, will be deemed to be the “affected day”), then the Prevailing Exchange Rate for such date will be determined mutatis mutandis but with respect to the immediately preceding day on which such rate can be so determined; provided, however, that, if such immediately preceding day is before the fifth (5th) day before such affected day, or if such rate cannot be so determined, then the Prevailing Exchange Rate will be determined in such other commercially reasonable manner as determined by the Company in good faith.

  • Prevailing Rate means the rate of interest we apply after the Chosen Product ends or you breach the Terms and Conditions for the Chosen Product. For example, the prevailing rate can be the Variable Rate Call rate;

  • Prevailing Market Rate for the applicable Extension Period shall be the prevailing rental rate for properties of equivalent quality, size, and utility, in the office submarket in which the Building is located, with the length of the lease term, Landlord concessions, and the credit standing of Tenant to be taken into account. Tenant shall, within thirty (30) business days of receipt of Landlord’s written notice of Landlord’s determination of the Prevailing Market Rate, notify Landlord in writing of its acceptance, dispute, or rejection of Landlord’s determination of the Prevailing Market Rate. If Tenant rejects Landlord’s determination or does not timely respond, then the Lease will terminate at the end of the Lease Term (without renewal, or further renewal [as the case may be]). If Tenant disputes Landlord’s determination of the Prevailing Market Rate, and Landlord and Tenant are not able to reach a mutual agreement as to the Prevailing Market Rate during the following thirty (30) business day period, then the Lease will terminate at the end of the Lease Term. If Tenant accepts Landlord’s determination, or Tenant and Landlord otherwise agree upon the Prevailing Market Rate, this Lease shall be extended without the necessity of the execution of any further instrument or document. Such Extension Period shall (A) commence upon the expiration date of the Lease Term (which, in the case of the Second Extension Period, shall be the date upon which the First Extension Period expires), (B) expire upon the same day of the forty-eighth (48) calendar month thereafter, and (C) be upon the same terms, covenants, and conditions as provided in the Lease for the initial Lease Term, except that the Base Rent payable during an Extension Period shall be at the Prevailing Market Rate as determined above beginning at the commencement of the applicable Extension Period. Payment of all additional rent and other charges required to be made by Tenant under the Lease for the initial Lease Term shall continue to be made during the applicable Extension Period in accordance with the terms and provisions of the Lease. Any assignment of the Lease or subletting of the Leased Premises by Tenant shall terminate the option(s) to extend the Lease Term contained herein. Notwithstanding the foregoing, in no event shall Base Rent for an Extension Period be less than the Base Rent during the last year of the initial Lease Term (which, in the case of the Second Extension Period, shall be the last year of the First Extension Period). Notwithstanding any provision to the contrary contained in this Rider, Tenant shall not have the option to extend the Lease Term for the Second Extension Period unless it has properly exercised its option to extend the Lease Term for the First Extension Period.