Applicable Spread Sample Clauses

Applicable Spread. Applicable spread means 0.50% in the case of a rating agency event or tax event and 0.25% in all other cases.

Applicable Spread. 5.1 Notwithstanding the provisions of Section 2.4.2 of the Agreement, the Applicable Spread shall be re-calculated and adjusted on and as of September 1, 2007 based upon the Covenant Compliance Certificate that is required to be delivered on August 19, 2007. 5.2 The third sentence of Section 2.4.2 of the Agreement is hereby deleted and the following is inserted in its place: If a Compliance Certificate is not delivered when due, then the Applicable Spread (i) shall be adjusted, on the Business Day on which the Compliance Certificate was due, to the highest of the possible rates of the Applicable Spread and (ii) shall continue in effect at that rate until Borrowers deliver to Agent the delinquent Compliance Certificate, whereupon the Applicable Spread shall be adjusted, if required, as of the date such Compliance Certificate is delivered, based on such Compliance Certificate.

Applicable Spread. “Applicable Spread” means, (a) for the Taxable Rate, the number basis points in the column entitled TAXABLE RATE in the chart below on the Level that contains the Obligor Rating, initially 45.0 basis points (.45%) and, (b) for the Tax Exempt Rate, the product of the number basis points in the column entitled TAX EXEMPT RATE in the chart below on the Level that contains the Obligor Rating, initially 39 basis points (.39%), multiplied by the Margin Rate Factor. The Obligor Rating and the Level used to determine the Applicable Spread shall be determined as provided below in this paragraph:

Applicable Spread. As used herein, "Applicable Spread" means the additional component of interest, expressed as a percentage per annum, to be added to the Prime Rate in determining the applicable interest rate for amounts outstanding under the Loans. The Applicable Spread shall be three and one half percent (3.5%).

Applicable Spread. “Applicable Spread” means, initially, for the Taxable Rate, 45.0 basis points (.45%) and, initially, for the Tax Exempt Rate, 35 basis points (.35%), each which is subject to maintenance of the current Obligor Rating. In the event of a change in the Obligor Rating, the Applicable Spread shall equal the number of basis points set forth on the Level in the chart below containing the appropriate Obligor Rating (determined as provided below): 4820-4078-3180.6 ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ RCA Fee Letter APPLICABLE SPREAD LEVEL ▇▇▇▇▇’▇ RATING S&P RATING FITCH RATING TAXABLE RATE TAX EXEMPT RATE 1 Aaa AAA AAA 45.0 bps 35.0 bps 2 Aa1 AA+ AA+ 52.5 bps 42.5 bps 3 Aa2 AA AA 60.0 bps 50.0 bps 4 Aa3 AA- AA- 67.5 bps 57.5 bps 5 A1 A+ A1 82.5 bps 72.5 bps 6 A2 A A 97.5 bps 87.5 bps 7 A3 ▇- ▇- ▇▇▇.▇ bps 102.5 bps In the event that Obligor Ratings are assigned by all three Rating Agencies, and only two of such Obligor Ratings are equivalent, the two equivalent Ratings shall be used to determine the Applicable Spread. In the event that Obligor Ratings are assigned by all three Rating Agencies, and no such Obligor Ratings are equivalent, the middle Obligor Rating shall be used to determine the Applicable Spread. In the event that Obligor Ratings are assigned by only two Rating Agencies, the lowest Obligor Rating assigned shall be used to determine the Applicable Spread. In the event that an Obligor Rating is assigned by only one Rating Agency, the Obligor Rating assigned by that Rating Agency shall be used to determine the Applicable Spread. Any change in the Applicable Spread resulting from a change in Obligor Ratings shall be and become effective as of and on the date of the announcement of the change in such Obligor Ratings. References to Obligor Ratings above are references to rating categories as determined by the Rating Agencies on the Closing Date and in the event of adoption of any new or changed rating system by any such Rating Agency, each of the Obligor Ratings from the Rating Agency in question referred to above shall be deemed to refer to the rating category under the new rating system which most closely approximates the applicable rating category as in effect on the Closing Date.

Applicable Spread. Applicable Spread" means Applicable Spread I or Applicable Spread II, as the context requires, and when used in the plural form, refers to both of the Applicable Spreads.

Applicable Spread. “Pro Rata Share” shall mean, as to each Lender (which, for the purposes of clarification, as of the date hereof is solely PBB), the ratio, expressed as a percentage, of (a) the amount of such Lender’s Commitment to (b) the aggregate amount of the Commitments of all Lenders hereunder; provided, however, that if at the time of determination the Commitments have terminated or been reduced to zero, the “Pro Rata Share” of each Lender shall be the Pro Rata Share of such Lender in effect immediately prior to such termination or reduction. “Property” shall mean the parcel of real property, the Improvements thereon and all personal property owned by ▇▇▇▇▇▇▇▇ and encumbered by the Mortgage, together with all appurtenances and other rights pertaining to such property and Improvements, all as more particularly described in the granting clauses of the Mortgage and referred to therein as the “Property”. “Requested Advance Date” shall have the meaning set forth in Section 2.7.2(a). “Senior Loan” shall mean the “Loan” as defined in the Senior Loan Agreement. “Senior Loan Agreement” shall have the meaning set forth in the Recitals hereto. “Senior Loan Documents” shall mean the “Loan Documents” as defined in the Senior Loan Agreement. “Shortfall” shall have the meaning set forth in Section 2.6.4. “Supplemental Building Loan Upsize Amount” shall have the meaning set forth in the Recitals hereto. “Supplemental Loan Upsize” shall have the meaning set forth in the Recitals hereto. “Tenant Improvement Allowance” shall mean the amount required to be paid by Borrower to DCAS Tenant under the DCAS Lease on account of or in lieu of work performed by such Tenant in the applicable space demised under the DCAS Lease. “Tenant Improvements” shall mean the improvements and/or other work affecting the demised premises of the DCAS Lease, which is required to be constructed and paid for by Borrower pursuant to the DCAS Leases for such space. “Tenant Improvement Work” shall mean the construction work to be performed by or on behalf of ▇▇▇▇▇▇▇▇, as landlord, or DCAS Tenant, as tenant, as Tenant Improvements under the DCAS Lease.