Alternate Base Rate definition: Copy, customize, and use instantly
Introduction
The term "Alternate Base Rate" refers to an interest rate used in financial agreements as a substitute for a previously agreed-upon base rate. This rate is typically invoked when the original reference rate is unavailable or no longer suitable. It ensures that the terms of the agreement remain consistent despite changes in market conditions.
Below are various examples of how "Alternate Base Rate" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Alternate Base Rate" as a replacement for LIBOR
This definition ties "Alternate Base Rate" to the replacement of the LIBOR reference rate.
"Alternate Base Rate" means the interest rate set by the administrator or relevant authority as a substitute for LIBOR (London Interbank Offered Rate), applicable when LIBOR is no longer available for use in the calculation of interest under this agreement.
Definition of "Alternate Base Rate" as defined by a central bank
This definition links "Alternate Base Rate" to a rate set by a central bank.
"Alternate Base Rate" refers to the interest rate published by the central bank of the relevant jurisdiction, used as a substitute for the base rate previously established under this agreement.
Definition of "Alternate Base Rate" as a market-based rate
This definition connects "Alternate Base Rate" to a market-driven rate.
"Alternate Base Rate" means a market-based rate, such as the Federal Funds Rate or the Prime Rate, selected by the parties to replace the original base rate when it becomes unavailable.
Definition of "Alternate Base Rate" as determined by an independent agent
This definition ties "Alternate Base Rate" to an independent agent's determination.
"Alternate Base Rate" refers to a rate determined by an independent agent or third-party institution, chosen to replace the base rate in circumstances where the original rate is no longer available.
Definition of "Alternate Base Rate" as an agreed-upon replacement rate
This definition links "Alternate Base Rate" to a pre-agreed replacement rate.
"Alternate Base Rate" means the rate mutually agreed upon by the parties, which will be used as a replacement for the original base rate if it becomes unavailable or unfeasible to use.
Definition of "Alternate Base Rate" as based on a government bond yield
This definition connects "Alternate Base Rate" to the yield on a government bond.
"Alternate Base Rate" refers to the yield on a specific government bond, such as the U.S. Treasury Bond, used as a reference rate when the original base rate is no longer applicable.
Definition of "Alternate Base Rate" as based on a benchmark rate
This definition ties "Alternate Base Rate" to a financial benchmark rate.
"Alternate Base Rate" means a benchmark interest rate, such as the SOFR (Secured Overnight Financing Rate) or the Prime Rate, which will be used to replace the base rate when it is no longer available for calculation.
Definition of "Alternate Base Rate" as determined by the parties
This definition applies "Alternate Base Rate" to a rate determined by the parties involved.
"Alternate Base Rate" refers to a rate determined by mutual agreement between the parties to replace the original base rate, in the event that the original rate becomes unavailable or unsuitable for use.
Definition of "Alternate Base Rate" as based on a substitute rate mechanism
This definition connects "Alternate Base Rate" to a specific substitute rate mechanism.
"Alternate Base Rate" means a rate determined according to a predefined mechanism, such as the adoption of a successor rate by the International Swaps and Derivatives Association (ISDA), to replace the original base rate.
Definition of "Alternate Base Rate" as based on a market consensus
This definition ties "Alternate Base Rate" to a rate based on market consensus.
"Alternate Base Rate" refers to a rate that reflects a market consensus or the prevailing rate at which the relevant market participants are willing to lend or borrow, used as a replacement for the original base rate.
Definition of "Alternate Base Rate" as a fixed replacement rate
This definition connects "Alternate Base Rate" to a fixed replacement rate.
"Alternate Base Rate" means a fixed interest rate, determined at the time of agreement execution, that will serve as the replacement for the original base rate when it is no longer available.
Definition of "Alternate Base Rate" as adjusted for credit risk
This definition links "Alternate Base Rate" to an adjustment for credit risk.
"Alternate Base Rate" refers to a rate that has been adjusted for credit risk, reflecting the risk profile of the borrower, to replace the original base rate when it is no longer available.
Definition of "Alternate Base Rate" as calculated based on a spread
This definition ties "Alternate Base Rate" to a rate calculated with an added spread.
"Alternate Base Rate" means the rate calculated by adding a specified spread to the relevant market rate, used as a replacement for the original base rate when it becomes unavailable.
Definition of "Alternate Base Rate" as defined by a financial industry body
This definition connects "Alternate Base Rate" to a rate defined by a financial industry body.
"Alternate Base Rate" refers to the interest rate defined by a recognized financial industry body, such as the International Swaps and Derivatives Association (ISDA), as a replacement for the original base rate.
Definition of "Alternate Base Rate" as the average of overnight borrowing rates
This definition links "Alternate Base Rate" to the average of overnight borrowing rates.
"Alternate Base Rate" means the average of the overnight borrowing rates in the relevant market, used as a replacement when the original base rate is no longer available.
Definition of "Alternate Base Rate" as a rate based on deposit rates
This definition applies "Alternate Base Rate" to deposit rates.
"Alternate Base Rate" refers to the deposit rate offered by commercial banks for short-term deposits, used to replace the original base rate when it becomes unavailable.
Definition of "Alternate Base Rate" as based on the cost of funds
This definition ties "Alternate Base Rate" to the cost of funds.
"Alternate Base Rate" means the cost of funds, or the rate at which financial institutions can borrow in the open market, used as a substitute when the original base rate is no longer applicable.
Definition of "Alternate Base Rate" as a rate published by a financial data provider
This definition connects "Alternate Base Rate" to a financial data provider.
"Alternate Base Rate" refers to a rate published by a recognized financial data provider, used as a substitute for the original base rate when it is no longer available.
Definition of "Alternate Base Rate" as based on a synthetic rate
This definition links "Alternate Base Rate" to a synthetic rate.
"Alternate Base Rate" means a synthetic interest rate derived from multiple reference rates, used to replace the original base rate when it becomes unavailable.
Definition of "Alternate Base Rate" as based on a weighted average
This definition applies "Alternate Base Rate" to a weighted average.
"Alternate Base Rate" refers to the weighted average of relevant reference rates, used as the replacement for the original base rate when it can no longer be used.
Definition of "Alternate Base Rate" as determined by a designated rate-setting authority
This definition connects "Alternate Base Rate" to a rate-setting authority.
"Alternate Base Rate" means the rate established by a designated rate-setting authority, used to replace the original base rate when it is no longer in effect.
Definition of "Alternate Base Rate" as calculated by a predetermined formula
This definition ties "Alternate Base Rate" to a predetermined calculation formula.
"Alternate Base Rate" refers to a rate calculated according to a predetermined formula, specified in the agreement, to replace the original base rate when it is no longer available.
Definition of "Alternate Base Rate" as based on the prime lending rate
This definition connects "Alternate Base Rate" to the prime lending rate.
"Alternate Base Rate" means the prime lending rate, as published by a recognized financial institution, used to replace the original base rate when it is no longer applicable.
Definition of "Alternate Base Rate" as determined by a peer group
This definition applies "Alternate Base Rate" to a peer group rate.
"Alternate Base Rate" refers to the rate determined by a peer group of financial institutions, used as a substitute for the original base rate when it becomes unavailable.
Definition of "Alternate Base Rate" as the average cost of borrowing
This definition links "Alternate Base Rate" to the average cost of borrowing in the relevant market.
"Alternate Base Rate" means the average cost of borrowing in the relevant market, determined by the prevailing borrowing rates, and used to replace the original base rate when it is unavailable.
Definition of "Alternate Base Rate" as the rate charged by commercial banks
This definition connects "Alternate Base Rate" to the rate charged by commercial banks.
"Alternate Base Rate" refers to the rate charged by commercial banks for short-term loans, to be used as a substitute when the original base rate is no longer available.
Definition of "Alternate Base Rate" as based on the deposit market
This definition ties "Alternate Base Rate" to the deposit market.
"Alternate Base Rate" means the rate derived from the deposit market, typically reflecting the interest rate offered by financial institutions for short-term deposits, and used when the original base rate is unavailable.
Definition of "Alternate Base Rate" as based on a central bank's lending rate
This definition applies "Alternate Base Rate" to a central bank’s lending rate.
"Alternate Base Rate" refers to the lending rate established by a central bank, used as a substitute for the original base rate in the event it becomes unavailable or inapplicable.
Definition of "Alternate Base Rate" as calculated based on swap rates
This definition links "Alternate Base Rate" to swap rates.
"Alternate Base Rate" means the rate determined by the prevailing swap rates in the market, used as a replacement for the original base rate when it is no longer available.
Definition of "Alternate Base Rate" as the highest rate available in the market
This definition ties "Alternate Base Rate" to the highest rate in the market.
"Alternate Base Rate" refers to the highest available interest rate in the relevant market, used when the original base rate is no longer accessible or reliable.
Definition of "Alternate Base Rate" as the rate determined by a relevant authority
This definition connects "Alternate Base Rate" to a relevant authority.
"Alternate Base Rate" means the interest rate determined by a relevant authority, such as a government agency or regulatory body, to be used as a replacement when the original base rate is no longer in effect.
Definition of "Alternate Base Rate" as based on corporate bond yields
This definition ties "Alternate Base Rate" to corporate bond yields.
"Alternate Base Rate" refers to the yield on corporate bonds in the relevant industry, used as a substitute for the original base rate when it is unavailable.
Definition of "Alternate Base Rate" as determined by financial market conditions
This definition links "Alternate Base Rate" to financial market conditions.
"Alternate Base Rate" means the rate determined based on current financial market conditions, including the prevailing interest rates, to replace the original base rate when it becomes unavailable.
Definition of "Alternate Base Rate" as based on interbank lending rates
This definition connects "Alternate Base Rate" to interbank lending rates.
"Alternate Base Rate" refers to the rate charged by banks for short-term loans between themselves, used as a replacement for the original base rate when it is no longer available.
Definition of "Alternate Base Rate" as a blended rate
This definition applies "Alternate Base Rate" to a blended rate.
"Alternate Base Rate" means a blended rate derived from multiple reference rates, calculated to replace the original base rate when it is no longer applicable.
Definition of "Alternate Base Rate" as based on the cost of capital
This definition ties "Alternate Base Rate" to the cost of capital.
"Alternate Base Rate" refers to the cost of capital, or the rate of return required by investors, used as a substitute for the original base rate when it becomes unavailable.
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