Breakage Indemnity definition

Breakage Indemnity means, for any Advance for the Interest Period ------------------ (computed without regard to the maturity of an Interest Period occurring as a result of the occurrence of the Termination Date) during which the principal amount of such Advance is reduced (determined without regard to any Advances), the amount, if any, by which (i) the additional Interest (calculated without taking into account any Breakage Indemnity) which would have accrued on the ------------------ reductions of such principal amount during such Interest Period (as so computed) if such reductions had remained as Interest, exceeds (ii) the income, if any, received by the Securitization Lender or the applicable Liquidity Provider from the investment by such Person of the proceeds of such reductions of principal (which investment the Securitization Lender and the Liquidity Providers will use reasonable efforts to make under the then applicable conditions and circumstances); provided, that, to the extent Interest -------- is calculated using (i) the CP Rate, no Breakage Indemnity shall be payable on account of a reduction in the principal amount of Advances where (a) the amount of such reduction does not exceed $7,500,000 or (b) the Servicer or the Borrower has provided not less than two Business Days' notice thereof to the Agent, indicating the date and amount of such reduction or (ii) the Alternate Base Rate, no Breakage Indemnity shall be payable on account of a reduction in the principal amount of Advances.
Sample 1
Breakage Indemnity means, for any Purchase Period (computed without ------------------ regard to the maturity of a Purchase Period occurring as a result of the occurrence of the Termination Date) during which Capital is reduced (determined without regard to any Purchases), the amount, if any, by which (i) the additional Yield (calculated without taking into account any Breakage Indemnity) ------------------ which would have accrued on the reductions of such Capital during such Purchase Period (as so computed) if such reductions had remained as Capital exceeds (ii) the income, if any, received by the Purchaser or the applicable Liquidity Provider or Supplemental Enhancement Provider from the investment by such Person of the proceeds of such reductions of Capital (which investment the Purchaser and the Liquidity Providers will use reasonable efforts to make under the then applicable conditions and circumstances).
Sample 1
Breakage Indemnity means, for any Purchase Period (computed without regard to the maturity of a Purchase Period occurring as a result of the occurrence of the Termination Date) during which Capital is reduced (determined without regard to any Purchases), the amount, if any, by which (i) the additional Yield (calculated without taking into account any Breakage Indemnity) which would have accrued on the reductions of such Capital during such Purchase Period (as so computed) if such reductions had remained as Capital exceeds (ii) the income, if any, received by the Purchaser or the applicable Liquidity Provider from the investment by such Person of the proceeds of such reductions of Capital (which investment the Purchaser and the Liquidity Providers will use reasonable efforts to make under the then applicable conditions and circumstances).
Sample 1

Examples of Breakage Indemnity in a sentence

  • Such Funding Breakage Indemnity shall be due and payable on demand.

  • In addition, such Borrower shall, on the due date for payment of any Funding Breakage Indemnity, pay to such Bank an additional amount equal to interest on such Funding Breakage Indemnity from the Funding Breakage Date to but not including such due date at the Alternate Base Rate Option applicable to Loans (calculated on the basis of a year of 360 days and actual days elapsed).

  • Such LIBOR Funding Breakage Indemnity shall be due and payable on demand.

  • Such Funding Breakage Indemnity shall be due and payable on demand and each Lender shall, upon making such demand, notify the Agent of the amount so demanded.

  • Such Funding Breakage Indemnity shall be due and payable on demand, and each Bank shall, upon making such demand, notify the Agent of the amount so demanded.

  • In addition, the Borrowers shall, on the due date for payment of any LIBOR Funding Breakage Indemnity, pay to the Lender an additional amount equal to interest on such LIBOR Funding Breakage Indemnity from the LIBOR Funding Breakage Date to but not including such due date at the Variable Rate LIBOR Option, or if then applicable, the Base Rate, calculated on the basis of a year of 360 days and actual days elapsed.

  • The purpose of this Guide is to provide public authorities with information and advice on implementing the good relations duty.

  • If such difference is positive, continue the calculation through and including subclauses (ii) through (iv) inclusive, and the result shall be the applicable Fixed Rate Breakage Indemnity.

  • Changes to Updated Model Form Swap Breakage Indemnity: As background for your review of the draft of the Updated Model Form Swap Breakage Indemnity, note that we started with the Existing Model Form Swap Breakage Indemnity as a basis and incorporated the following material updates and changes2: 1.

  • GENERAL LOAN TERMS 16 2.1 The Loan 16 2.2 Interest; Monthly Payments 17 2.2.1 Generally 17 2.2.2 Default Rate 17 2.2.3 Taxes 17 2.2.4 Breakage Indemnity 18 2.2.5 New Payment Date 18 2.3 Loan Repayment.

Related to Breakage Indemnity

  • Funding Indemnity Letter means a funding indemnity letter, substantially in the form of Exhibit N.

  • Limit of Indemnity means the amount stated in the Schedule pursuant to Clause 5 of this Policy.

  • Tax Indemnity means the deed of covenant against taxation, in the Agreed Terms, to be entered into on the Closing Date between the Seller and the Purchaser;

  • Indemnity means the payment of an amount to offset all or part of an insured loss.

  • Breakage Fee means (i) for any Interest Period for which Interest is computed by reference to Adjusted LIBOR and a reduction of Capital is made for any reason on any day other than a Settlement Date or (ii) to the extent that the Borrower shall for any reason, fail to borrow on the date specified by the Borrower in connection with any request for funding pursuant to Article II of this Agreement, the amount, if any, by which (A) the additional Interest (calculated without taking into account any Breakage Fee or any shortened duration of such Interest Period pursuant to the definition thereof) which would have accrued during such Interest Period on the reductions of Capital relating to such Interest Period had such reductions not been made (or, in the case of clause (ii) above, the amounts so failed to be borrowed or accepted in connection with any such request for funding by the Borrower), exceeds (B) the income, if any, received by the applicable Lender from the investment of the proceeds of such reductions of Capital (or such amounts failed to be borrowed by the Borrower). A certificate as to the amount of any Breakage Fee (including the computation of such amount) shall be submitted by the affected Lender to the Borrower and shall be presumed correct absent manifest error.

  • Hedge Breakage Costs means, for any Hedge Transaction, any amount payable by the Borrower for the early termination of that Hedge Transaction or any portion thereof.

  • Breakage Costs shall have the meaning set forth in Section 2.2.3(h) hereof.

  • Lender-Provided Interest Rate Hedge means an Interest Rate Hedge which is provided by PNC or any Affiliate of PNC that: (a) is documented in a standard International Swap Dealers Association, Inc. Master Agreement or another reasonable and customary manner; (b) provides for the method of calculating the reimbursable amount of the provider’s credit exposure in a reasonable and customary manner; and (c) is entered into for hedging (rather than speculative) purposes. The liabilities owing to the provider of any Lender-Provided Interest Rate Hedge (the “Interest Rate Hedge Liabilities”) by any Borrower, Guarantor, or any of their respective Subsidiaries that is party to such Lender-Provided Interest Rate Hedge shall, for purposes of this Agreement and all Other Documents be “Obligations” of such Person and of each other Borrower and Guarantor, be guaranteed obligations under any Guaranty and secured obligations under any Guarantor Security Agreement, as applicable, and otherwise treated as Obligations for purposes of the Other Documents, except to the extent constituting Excluded Hedge Liabilities of such Person. The Liens securing the Hedge Liabilities shall be pari passu with the Liens securing all other Obligations under this Agreement and the Other Documents, subject to the express provisions of Section 11.5 hereof.

  • Breakage Amount has the meaning set forth in Section 3.06 of the Series 2019-1 Class A-1 Note Purchase Agreement.

  • Tax Indemnity Agreement means the Tax Indemnity Agreement, dated as of even date with the Participation Agreement, between Lessee and Owner Participant.

  • Swap Agreement Obligations means any and all obligations of the Loan Parties and their Subsidiaries, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any Swap Agreement permitted hereunder with a Lender or an Affiliate of a Lender, and (b) any cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction permitted hereunder with a Lender or an Affiliate of a Lender.

  • Indemnity, Subrogation and Contribution Agreement means the Indemnity, Subrogation and Contribution Agreement among Xxxxx 0, the Borrower, the Subsidiary Loan Parties and the Collateral Agent, substantially in the form of Exhibit C-3.

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • Credit Agreement Obligations means the “Obligations” as defined in the Credit Agreement.

  • Overdraft Obligations means, with respect to any Portfolio, the amount of any outstanding Overdraft(s) provided by the Custodian to such Portfolio together with all accrued interest thereon.

  • Permitted Contingent Obligations means, without duplication: (a) Contingent Obligations arising in respect of the Debt under the Note Documents; (b) Contingent Obligations resulting from endorsements for collection or deposit in the Ordinary Course of Business; (c) Contingent Obligations outstanding on the date of this Agreement and set forth on Schedule 8.1 (including any refinancings, extensions, increases or amendments to the indebtedness underlying such Contingent Obligations to the extent constituting (i) Refinancing Debt or (ii) extensions of the maturity thereof without any other change in terms); (d) Contingent Obligations incurred in the Ordinary Course of Business with respect to surety and appeal bonds, performance bonds and other similar obligations not to exceed $250,000 in the aggregate at any time outstanding; (f) Contingent Obligations arising under indemnity agreements with title insurers to cause such title insurers to issue to the Purchaser mortgagee title insurance policies; (g) Contingent Obligations arising with respect to customary indemnification obligations in favor of purchasers in connection with dispositions of personal property assets permitted under Section 8.6; (h) [Reserved]; (i) so long as there exists no Event of Default both immediately before and immediately after giving effect to any such transaction, Contingent Obligations existing or arising under any Swap Contract, provided, however, that such obligations are (or were) entered into by an Obligor or an Affiliate in the Ordinary Course of Business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person and not for purposes of speculation; and (j) other Contingent Obligations not permitted by clauses (a) through (i) above, not to exceed $250,000 in the aggregate at any time outstanding.

  • Unasserted Contingent Obligations means, at any time, Obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no assertion of liability (whether oral or written) and no claim or demand for payment or indemnification (whether oral or written) has been made or threatened.

  • Interest Rate Hedging Agreement means any interest rate protection agreement or other interest rate hedging arrangement.

  • Indemnification Cap has the meaning set forth in Section 9.3(a).

  • Indemnification Obligation means any existing or future obligation of any Debtor to indemnify current and former directors, officers, members, managers, agents or employees of any of the Debtors who served in such capacity, with respect to or based upon such service or any act or omission taken or not taken in any of such capacities, or for or on behalf of any Debtor, whether pursuant to agreement, the Debtors’ respective memoranda, articles or certificates of incorporation or formation, corporate charters, bylaws, operating agreements, limited liability company agreements, or similar corporate or organizational documents or other applicable contract or law in effect as of the Effective Date, excluding any obligation to indemnify any of the foregoing parties with respect to any act or omission for or on behalf of the Debtors arising out of any act or omission determined by a Final Order to constitute actual fraud, willful misconduct, or gross negligence.

  • Other Hedging Agreement means any foreign exchange contracts, currency swap agreements, commodity agreements or other similar agreements or arrangements designed to protect against the fluctuations in currency or commodity values.

  • Funding Losses has the meaning set forth in Section 2.13(b)(ii).

  • Interest Swap and Hedging Obligation means any obligation of any Person pursuant to any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate exchange agreement, currency exchange agreement or any other agreement or arrangement designed to protect against fluctuations in interest rates or currency values, including, without limitation, any arrangement whereby, directly or indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying either a fixed or floating rate of interest on a stated notional amount in exchange for periodic payments made by such Person calculated by applying a fixed or floating rate of interest on the same notional amount.

  • Indemnity Payment shall have the meaning set forth in Section 4.4(a).

  • Indemnification Obligations means each of the Debtors’ indemnification obligations in place as of the Effective Date, whether in the bylaws, certificates of incorporation or formation, limited liability company agreements, other organizational or formation documents, board resolutions, management or indemnification agreements, or employment or other contracts, for their current and former directors, officers, managers, members, employees, attorneys, accountants, investment bankers, and other professionals and agents of the Debtors.

  • VA Loan Guaranty Agreement means the obligation of the United States to pay a specific percentage of a Mortgage Loan (subject to a maximum amount) upon default of the Mortgagor pursuant to the Servicemen’s Readjustment Act, as amended.