Senior Secured Floating Rate Note definition

Senior Secured Floating Rate Note means a floating rate note which is a senior secured floating rate note as determined by the Collateral Manager in relation to which the Obligor or, as the case may be, the Reference Entity is determined by the Collateral Manager to be domiciled in the United States, Canada or a European Union country which is a Qualifying Country and that:
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Senior Secured Floating Rate Note means any Dollar-denominated senior secured note that (a) is issued pursuant to an indenture by a corporation, partnership or other person,(b) has a stated coupon that bears a floating rate of interest and (c) is secured by a valid first priority perfected security interest or lien on specified collateral securing the obligor's obligations under the note, which security interest is subject to customary liens.
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Senior Secured Floating Rate Note means a Senior Secured Bond that bears a floating rate of interest.
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Examples of Senior Secured Floating Rate Note in a sentence

  • For purposes of the calculation of Average Debt Rating, if a Senior Secured Floating Rate Note or a Second Lien Loan has a Moody's Rating that is equal to or greater than the Corporate Family Rating, it shall be treated as a Senior Secured Loan; otherwise, such Senior Secured Floating Rate Note or Second Lien Loan shall be treated as a Non-Senior Secured Loan.

  • For purposes of the Moody's Priority Category, if a Senior Secured Floating Rate Note or a Second Lien Loan has a Moody's rating that is equal to or greater than the Corporate Family Rating, it shall be treated as a Senior Secured Loan; otherwise, such Senior Secured Floating Rate Note or Second Lien Loan shall be treated as a Non-Senior Secured Loan.

  • Operating profit was charged with non-recurring items of EUR 7.6 million (7.1).Financing and liquidityThe Group’s previous bank financing was replaced in April 2014 with a Senior Secured Floating Rate Note of EUR 120 million, which is due in 2019 and carries interest at a floating rate calculated on 500 basis points on three-month EURIBOR.

  • If a Second Lien Loan, Senior Secured Bond or Senior Secured Floating Rate Note fails to have both CFR and an instrument rating assigned by Moody’s, then its Moody’s Recovery Rate shall be determined as if such Senior Loan, Senior Secured Bond or Senior Secured Floating Rate Note were an Unsecured Loan.

  • Subsequently, the government and its agencies will develop policies that will enhance efficiency, transparency, objective and value for money, protection of public resources, improved supplier relationships and accountability which have a bearing on firm performance.


More Definitions of Senior Secured Floating Rate Note

Senior Secured Floating Rate Note. Any obligation that: (a) constitutes borrowed money, (b) is in the form of, or represented by, a bond, note (other than any note evidencing a Loan), certificated debt security or other debt security, (c) is expressly stated to bear interest based upon a London interbank offered rate for Dollar deposits in Europe or a relevant reference bank’s published base rate or prime rate for Dollar-denominated obligations in the United States or the United Kingdom, (d) does not constitute, and is not secured by, Margin Stock, (e) if it is subordinated by its terms, is subordinated only to indebtedness for borrowed money, trade claims, capitalized leases or other similar obligations and (f) is secured by a valid first priority perfected security interest or lien in, to or on specified collateral securing the obligor’s obligations under such obligation.
Sample 1
Senior Secured Floating Rate Note means any obligation that (a) constitutes borrowed money, (b) is in the form of, or represented by, a bond, note (other than any note evidencing a loan), certificated debt security or other debt security, (c) is expressly stated to bear interest based upon an interbank offered rate for deposits in the relevant currency and in the relevant location or a relevant reference bank's published base rate or prime rate for obligations denominated in the relevant currency and in the relevant location, (d) does not constitute and is not secured by, Margin Stock, (e) if it is subordinated by its terms, is subordinated only to indebtedness for borrowed money, trade claims, capitalised leases or other similar obligations, or no other obligation of the Obligor has any higher priority security interest in such assets or stock, provided that a revolving loan of the Obligor that, pursuant to its terms, may require one or more future advances to be made to the borrower may have a higher priority security interest in such assets or stock in the event of an enforcement in respect of such loan representing up to 15 per cent. of the Obligor's senior debt (or more if Rating Agency Confirmation has been obtained) and (f) is secured by a valid first priority perfected security interest or lien in, to or on specified collateral securing the obligor's obligations under such obligation.
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Senior Secured Floating Rate Note means any U.S. Dollar denominated senior secured note issued pursuant to an indenture or equivalent document by a corporation, partnership or other person that (i) has a stated coupon that bears a floating rate of interest and (ii) is secured by a first priority perfected security interest or lien to or on specified collateral securing the issuer’s obligations under the note, which security interest or lien is not subordinate to the security interest or lien securing any other indebtedness for borrowed money.
Sample 1
Senior Secured Floating Rate Note. Any obligation that: (a) constitutes borrowed money, (b) is in the form of, or represented by, a bond, note (other than any note evidencing a Loan), certificated debt security or other debt security, (c) is expressly stated to bear interest based upon a London interbank offered rate for Dollar deposits in Europe or a relevant reference bank’s published base rate or prime rate for Dollar‑denominated obligations in the United States or the United Kingdom, (d) does not constitute, and is not secured by, Margin Stock, (e) if it is subordinated by its terms, is subordinated only to indebtedness for borrowed money, trade claims, capitalized leases or other similar obligations and (f) is secured by a valid first priority perfected security interest or lien in, to or on specified collateral securing the obligor’s obligations under such obligation.
Sample 1
Senior Secured Floating Rate Note. Any dollar-denominated senior secured note issued pursuant to an indenture by a corporation, limited liability company, partnership or trust that (i) has a stated coupon that bears a floating rate of interest and (ii) is secured by a valid first priority perfected security interest or lien on specified collateral securing the obligor's obligations under the note, which security interest is subject to customary liens.
Sample 1

Related to Senior Secured Floating Rate Note

  • Floating Rate Notes means the Class A-2b Notes.

  • Senior Secured Loan means any interest in a loan, including any assignment of or participation in or other interest in a loan, that (i) is not (and is not expressly permitted by its terms to become) subordinate in right of payment to any obligation of the obligor in any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings (other than pursuant to a Permitted Working Capital Lien and customary waterfall provisions contained in the applicable loan agreement), (ii) is secured by a pledge of collateral, which security interest is (a) validly perfected and first priority under Applicable Law (subject to liens permitted under the applicable credit agreement that are reasonable for similar loans, and liens accorded priority by law in favor of any Governmental Authority) or (b)(1) validly perfected and second priority in the accounts, documents, instruments, chattel paper, letter-of-credit rights, supporting obligations, deposit accounts, investments accounts and any other assets securing any Working Capital Revolver under Applicable Law and proceeds of any of the foregoing (a first priority lien on such assets a "Permitted Working Capital Lien") and (2) validly perfected and first priority (subject to liens for taxes or regulatory charges and any other liens permitted under the related underlying instruments that are reasonable and customary for similar loans) in all other collateral under Applicable Law, and (iii) the Portfolio Manager determines in good faith that the value of the collateral for such loan (including based on enterprise value) on or about the time of acquisition equals or exceeds the outstanding principal balance of the loan plus the aggregate outstanding balances of all other loans of equal or higher seniority secured by a first priority Lien over the same collateral. For the avoidance of doubt, debtor-in-possession loans and FLLO Loans shall constitute Senior Secured Loans.

  • Fixed Rate Notes Together, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes.

  • Fixed Rate Note means any Class A-1 Note, Class A-2a Note, Class A-3 Note or Class A-4 Note.

  • Senior Securities means Securities other than Subordinated Securities.