Common use of Weighted Average Spread Clause in Contracts

Weighted Average Spread. As of any Measurement Date shall equal a fraction (expressed as a percentage and rounded up to the next 0.001%) equal to the sum of the weighted average spread on the Collateral Value of all Eligible Loans, other than any Excluded Loan or any Loan, or portion thereof, which is then included in the computation of the Excess Concentration Amount, that are not Fixed Rate Loans, determined by (i) multiplying the Collateral Value of each such Loan by the cash-pay per annum spread over the applicable LIBOR (with respect to Loans that do not bear interest based upon LIBOR, the spread shall be deemed to be the all-in rate minus the LIBO Rate in effect on such Measurement Date) and (ii) summing the amounts determined pursuant to clause (i) for all such Eligible Loans, and (iii) dividing such sum by the aggregate Collateral Values of all such Eligible Loans, provided that if the spread on any Eligible Loan is variable, the lowest spread applicable to such Eligible Loan shall be used in making such calculation.