![]() When used in reference to any Loan, “Alternate Rate” refers to whether such Loan is bearing interest at a rate determined by reference to the Alternate Rate. ![]() The Hurdle Rate for a given Incentive Period will be adjusted with respect to any contributions, transfers, distributions, withdrawals and repurchases applicable to a Limited Partner's Capital Account for that Incentive Period, or portion thereof.Īlternate Rate means, for any day, the sum of (a) a rate per annum selected by the Administrative Agent, in its reasonable discretion based on market conditions in consultation with the Company (and any applicable Subsidiary Borrower) and the relevant Lenders, plus (b) the Applicable Margin for Eurocurrency Loans. Hurdle Rates will not be cumulative and will be recalculated with respect to each Incentive Period. Treasury Bill as reported by the Wall Street Journal for the last business day of the preceding calendar year of the Partnership. Hurdle Rate means, with respect to the Incentive Period, that rate determined from time to time by the Directors and approved in the manner contemplated by the 1940 Act, such rate initially to be the yield-to-maturity of the 90-day U.S. LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR, or a comparable or successor rate, which rate is approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time), at or about 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day provided that to the extent a comparable or successor rate is approved by the Administrative Agent in connection herewith, the approved rate will be applied in a manner consistent with market practice provided, further, that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate will be applied in a manner as otherwise reasonably determined by the Administrative Agent provided, further, if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed to be zero. Reference Rate means the rate specified as such hereon. Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.įixed Rate means, with respect to any Competitive Loan (other than a Eurodollar Competitive Loan), the fixed rate of interest per annum specified by the Lender making such Competitive Loan in its related Competitive Bid.įloating Rate Margin means 7.00 per cent. ![]() Such Supplemental Indenture shall also specify either (a) the particular period or periods of time for which each value of such variable interest rate shall remain in effect, or (b) the time or times upon which any change in such variable interest rate shall become effective. The method of computing such variable interest rate shall be specified in the Supplemental Indenture pursuant to which such Permitted Debt is incurred. Variable Interest Rate means a variable interest rate to be borne by any Permitted Debt. All references to applicable provisions of Law shall be deemed to include any and all amendments thereto. Unless the context shall otherwise indicate, the words "Bond," "Escrow Agent," "Owner," "person," "Paying Agent," and "Bond Registrar" shall include the plural as well as the singular number and the word "person" shall mean any individual, corporation partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. ![]() Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds. 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.
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