Federal Funds Effective Rate

Federal Funds Effective Rate. Means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for... such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it; provided, that, if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. View More

Federal Funds Effective Rate. Shall mean, for any period, a fluctuating interest rate equal for each day during such period to the weighted average of the rates on overnight Federal Funds transactions with members of the Federal Reserve System arranged by Federal Funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations... for such day on such transactions received by KeyBank, from three Federal Funds brokers of recognized standing selected by KeyBank. View More

Federal Funds Effective Rate. Means, for any day, an interest rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published for such day (or, if such day is not a Business Day, for the immediately preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations at approximately 10:00... a.m. (Central Time) on such day on such transactions received by Secured Party from three (3) Federal funds brokers of recognized standing selected by Secured Party in its sole discretion. View More

Federal Funds Effective Rate. For any day, as used herein, shall mean the rate per annum (rounded upward to the nearest 1/100 of 1%) announced by the Federal Reserve Bank of New York (or any successor) on such day as being the weighted average of the rates on overnight Federal funds transactions arranged by Federal funds brokers on the previous trading day, as computed and announced by such Federal Reserve Bank of New York (or any successor) in substantially the same manner as such Federal Reserve Bank of New York computes... and announces the weighted average it refers to as the "Federal Funds Effective Rate" as of the date of this Note; provided, if such Federal Reserve Bank of New York (or its successor) does not announce such rate on any day, the "Federal Funds Effective Rate" for such day shall be the Federal Funds Effective Rate for the last day on which such rate was announced. Notwithstanding the above, if at any time Bank shall determine in good faith (which determination shall be conclusive) that: (i) the Federal Reserve Bank of New York (or its successor) shall not have announced a Federal Funds Effective Rate on any day (other than a Saturday, Sunday, public holiday or other day on which no Federal Funds Effective Rate would normally be announced under the practices of such Federal Reserve Bank of New York as of the date hereof), (ii) the effective cost to the Bank of funding any proposed or existing portion of the principal amount of this Note from a Corresponding Source of Funds shall exceed the Federal Funds Effective Rate, or (iii) the making, maintenance or funding of any portion of the principal amount bearing interest at a rate calculated using the Federal Funds Effective Rate has been made impracticable or unlawful by compliance by Bank in good faith with any law or guideline or interpretation or administration thereof by any Official Body charged with the interpretation or administration thereof or with any request or directive of any such Official Body (whether or not having the force of law); then, and in any such event the portion of the principal balance which otherwise would accrue interest based upon the Federal Funds Effective Rate shall accrue interest at the Prime-Based Rate until Bank shall -5- have determined in good faith (which determination shall be conclusive} that the circumstances giving rise to such previous determination no longer exists. View More

Federal Funds Effective Rate. For any day, the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the immediately following Business Day by the Federal Reserve Bank of New York or, if such rate is not published for any Business Day, the average of the quotations for the day of the requested advance received by Payee from three Federal funds brokers of recognized standing selected by Payee.

Federal Funds Effective Rate. For any day, the rate calculated by the Federal Reserve Bank of New York based on such day's federal funds transactions by depositary institutions (as determined in such manner as the Federal Reserve Bank of New York shall set forth on its public website from time to time) and published on the next succeeding Business Day by the Federal Reserve Bank of New York as the federal funds effective rate, provided that if the Federal Funds Effective Rate shall be less than zero, such rate shall be... deemed to zero for the purposes of this Agreement. View More