Federal Funds Effective Rate

Example Definitions of "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
Found in Newell Brands contract
Federal Funds Effective Rate. Means, for For any day, an interest rate per annum equal to 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, brokers on such day, as published on for such day (or, if such day is not a Business Day, for the next succeeding immediately preceding Business Day Day) by the Federal Reserve Bank of New York, or, if such rate is not so... published for any day that which is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for at approximately 10:00 a.m. (Chicago time) on such day for on such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it; the Administrative Agent in its sole discretion; 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. Agreement View More
Found in Superior Energy Services Inc contract
View Variations
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.
Found in Fossil Group, Inc. contract
Federal Funds Effective Rate. Means, for any day, a fluctuating 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, 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 that is a Business Day, the average of the quotations for such day on such transactions... received by TIAA from three Federal funds brokers of recognized standing selected by TIAA View More
Found in TIAA-CREF Life Insurance CO contract
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
Found in SILVERBOW RESOURCES, INC. contract
All Definitions