Example ContractsClausesApplicable Rate
Applicable Rate
Applicable Rate contract clause examples

Applicable Rate. Notwithstanding anything to the contrary contained in the definition of “Applicable Rate” in Section 1.01 of the Credit Agreement, from the date hereof to the first Business Day immediately following the date of delivery of the Compliance Certificate for the fiscal quarter ending June 30, 2020, Pricing Level 6 shall apply.

All Property (other than New Property and New Projects that become subject to this Lease after June 1, 2021) and Massachusetts New Projects. With respect to each Property (other than New Property and New Projects that become subject to this Lease after June 1, 2021) and each Massachusetts New Project, on each January 1 during the Term (each an “Adjustment Date”), the Applicable Lease Rate applicable to such Property or Massachusetts New Project shall be increased (and in no event decreased) and shall be equal to the sum of # the previous Applicable Lease Rate and # the product of the previous Applicable Lease Rate and the percentage by which the CPI published for

Inability to Determine Applicable Interest Rate. In the event that:

The LIBOR Rate may be adjusted by Agent with respect to any Lender on a prospective basis to take into account any additional or increased costs to such Lender of maintaining or obtaining any eurodollar deposits or increased costs, in each case, due to changes in applicable law (other than changes in laws relative to Taxes, which shall be governed by Section 16) occurring subsequent to the commencement of the then applicable Interest Period,

Inability to Determine Applicable Interest Rate. In the event that:

The Loan requested herein complies with the first sentence of [Section 2.1] of the Agreement.

Applicable Interest Rate for Installment Payments. Notwithstanding the foregoing, the interest rate that will apply to installment payments paid pursuant to the terms of the Plan will be the Minimum Fixed Rate. The foregoing notwithstanding, in the event such installment payments commence prior to the Participant’s Termination of Employment or if the Participant’s Termination of Employment occurs prior to the Participant reaching the Applicable Retirement Age, the interest rate that will apply to the installment payment will be based on the market-based investments as described in Section 5(c).

Inability to Determine Applicable Interest Rate. In the event that the Administrative Agent or the Required Lenders shall have determined (which determination shall be final and conclusive and binding upon all parties hereto), on any Interest Rate Determination Date or any Index Rate Determination Date with respect to any LIBOR Loans, that # by reason of circumstances affecting the London or other applicable interbank market adequate and fair means do not exist for ascertaining the interest rate applicable to such LIBOR Loans on the basis provided for in the definition of Adjusted LIBOR Rate or LIBOR Index Rate, as applicable, or # the Adjusted LIBOR Rate or the LIBOR Index Rate, as applicable, for any proposed LIBOR Loan does not adequately and fairly reflect the cost to the Lenders of funding such LIBOR Loan, or # the LIBOR Scheduled Unavailability Date shall have occurred, the Administrative Agent shall on such date give notice (by facsimile, electronic mail or by telephone confirmed in writing) to the Borrower and each Lender of such determination, whereupon # no Loans may be made as, or converted to, LIBOR Loans until such time as the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, and # any Funding Notice or Conversion/Continuation Notice given by the Borrower with respect to the Loans in respect of which such determination was made shall be deemed to be rescinded by the Borrower and such Loans shall be automatically made or continued as, or converted to, as applicable, Base Rate Loans (without reference to the LIBOR Index Rate component of the Base Rate).

Rate. From the date of this Note until December 22, 2028, interest shall accrue on the outstanding principal balance of this Note at a rate equal to Nine and Twenty-Five Hundredths percent (9.25%) per year. On the fifth (5th) anniversary date of this Note, and every five (5) years thereafter (referred to as the "Adjustment Date"), the interest rate will be adjusted to be equal to the greater of # the sum of the five-year Constant Maturity U.S. Treasury Rate (the “CMT Rate”) as of the Adjustment Date plus 5.00% percentage points or # the Index Floor. For the purposes of this paragraph, “Index Floor” means 6.00 percent. If the CMT Rate is no longer published, then Lender may reasonably designate a substitute index after written notice to Borrower, provided that the resulting effective interest rate approximates, as closely as reasonably possible, the CMT Rate in effect immediately prior to such designation.

Rate. Subject to the provisions of [Section 3.1(b)], the Loans shall bear interest at Prime plus one percent (1.00%) per annum. All interest due hereunder shall be payable monthly in arrears on the first day of each calendar month and on the Termination Date.

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