Floating Interest Rates. Each Purchased Asset bears interest at a floating rate of interest that is based on LIBOR plus a margin (which interest rate may be subject to a minimum or “floor” rate).
Floating Interest Rates. Each Mezzanine Loan bears interest at a floating rate of interest that is based on LIBOR plus a margin (which interest rate may be subject to a minimum or “floor” rate).
Floating Interest Rates. The interest rate of each Commercial Mortgage Loan that bears interest at a floating rate of interest is based on Term SOFR plus a margin (which interest rate may be subject to a minimum or “floor” rate). For this purpose, “Term SOFR” shall mean the forward-looking term rate based on SOFR as published by the Term SOFR Administrator for a one-month period on the Term SOFR Determination Day as such rate is published by the Term SOFR Administrator.
Floating Interest Rates. The interest rate of each Commercial Mortgage Loan that bears interest at a floating rate of interest is based on LIBOR plus a margin (which interest rate may be subject to a minimum or “floor” rate). For this purpose, “LIBOR” shall mean (a) the offered rate for deposits in U.S. dollars for a period equal to thirty (30) days, which appears on the display designated as “BBAM” on Bloomberg (or such other display as may replace “BBAM” on Bloomberg), or any successor thereto, as the London Interbank Offering Rate as of 8:00 a.m., New York City time, on the applicable determination date or (b) if such rate does not appear on said “BBAM” display, then the arithmetic mean (rounded as aforesaid) of certain offered quotations of rates to prime banks in the London interbank market as of approximately 11:00 a.m., London time, in an amount that is representative for a single transaction in the relevant market at the relevant time.
Floating Interest Rates. Each Mortgage Loan bears interest at a floating rate based on LIBOR. (RR) Participations. With respect to each Loan Obligation that is a Participation:
Floating Interest Rates. Each Purchased Asset bears interest at a floating rate of interest that is based on LIBOR plus a margin (which interest rate may be subject to a minimum or “floor” rate). EXHIBIT IV FORM OF BAILEE AGREEMENT [SELLER’S NAME AND ADDRESS] _______________ __, 20__ [ ] Re: Bailee Agreement (the “Bailee Agreement”) in connection with the sale of [______________] by MS LOAN NT-I, LLC (“Seller”) to Xxxxxx Xxxxxxx Bank, N.A., as buyer (together with its permitted successors and assigns, “Buyer”) Ladies and Gentlemen: In consideration of the mutual premises set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller, Buyer and [_________] (“Bailee”) hereby agree as follows:
Floating Interest Rates. While this Note bears interest in the Long Term Rate Mode or the SPURS Mode (with respect to the period from, and including, the Interest Rate 44 45 Adjustment Date commencing such period to, but excluding, the SPURS Remarketing Date), the Company may elect a floating interest rate by providing notice, which will be in or promptly confirmed in writing (which includes facsimile or appropriate electronic media), received by the Trustee and the Remarketing Agent for this Note (the "Floating Interest Rate Notice") not less than ten (10) days prior to the Interest Rate Adjustment Date for such Long Term Rate Period or SPURS Rate Period. The Floating Interest Rate Notice must identify by CUSIP number or otherwise the portion of this Note to which it relates and state the Interest Rate Period (or portion thereof, in the case of the SPURS Mode) therefor to which it relates. Each Floating Interest Rate Notice must also state the Interest Rate Basis or Bases, the Initial Interest Reset Date, the Interest Reset Period and Dates, the Interest Payment Period and Dates, the Index Maturity, the Floating Rate Maximum Interest Rate and/or Floating Rate Minimum Interest Rate, if any, and the Day Count Convention. If one or more of the applicable Interest Rate Bases is LIBOR or the CMT Rate, the Floating Interest Rate Notice shall also specify the Index Currency and Designated LIBOR Page or the Designated CMT Maturity Index and Designated CMT Telerate Page, respectively. If this Note bears interest at a floating rate in a Long Term Rate Period or a SPURS Rate Period, this Note shall bear interest at the rate determined by reference to the applicable Interest Rate Basis or Bases (a) plus or minus the Spread, if any, and/or (b) multiplied by the Spread Multiplier, if any, specified by the Remarketing Agent, in the case of a Long Term Rate Period, or the SPURS Agent in the case of a SPURS Rate Period, and recorded in Annex A to this Note. Commencing on the Interest Rate Adjustment Date for such Interest Rate Period, the rate at which interest on this Note shall be payable shall be reset as of each Interest Reset Date during such Interest Rate Period specified in the applicable Floating Interest Rate Notice. The applicable floating interest rate on this Note during any Interest Rate Period will be determined by reference to the applicable Interest Rate Basis or Interest Rate Bases, which may include (i) the CD Rate, (ii) the CMT Rate, (iii) the Federal Funds Rate, (iv) LIBOR, (v...
Floating Interest Rates. The interest rate of each Purchased Loan that bears interest at a floating rate of interest is based on LIBOR (or in the case of a Purchased Loan denominated in currencies other than U.S. Dollars, the LIBOR equivalent for the applicable currency) plus a margin (which interest rate may be subject to a minimum or “floor” rate); provided, however, that in certain circumstances (e.g., if a “base rate” is selected by the Underlying Obligor, or if LIBOR is unavailable, not permitted by law or has been replaced as a market floating rate index), the interest rate for a Purchased Loan may be based on (a)(i) a “base rate” (i.e., higher of (x) prime rate, (y) the sum of the federal funds rate plus up to an additional 0.50%, or (z) the sum of the one month LIBOR rate plus 1.00%) or (ii) an alternate index that has replaced LIBOR as the market index as determined by the administrative agent and all or a portion of the applicable lenders plus (b) a margin.
Floating Interest Rates. The interest rate of each Commercial Mortgage Loan that bears interest at a floating rate of interest is based on LIBOR plus a margin (which interest rate may be subject to a minimum or “floor” rate). For this purpose, “LIBOR” shall mean, the interest rate per annum equal to the London Interbank Offered Rate, or a comparable or successor rate, which rate is approved by Seller, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Seller from time to time), at or about 11:00 a.m., London time, on the applicable determination date, for U.S. Dollar deposits with a term of one (1) month commencing that day; provided that (a) to the extent a comparable or successor rate is approved by the Seller in connection herewith, the approved rate will be applied in a manner consistent with market practice; provided, further, that to the extent such market practice is not administratively feasible for the Seller, such approved rate will be applied in a manner as otherwise reasonably determined by the Seller, and (b) if such rate shall be less than zero, such rate will be deemed zero.
