Adjusted Spread definition

Adjusted Spread means, with respect to any Reset Transaction, the arithmetic average of the spreads, expressed as a percentage, from 3-month LIBOR quoted by two Reference Dealers as the spread from 3-month LIBOR which should be used in calculating the rate at which the Interest Rate on the Debentures should accrue so that the Fair Market Value, expressed in dollars, of a Debenture immediately after the later of:
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Adjusted Spread means, with respect to any Reset Transaction, the arithmetic average of the spreads, expressed as a percentage, from 3-month LIBOR quoted by two Reference Dealers selected by the Company or its successor as the spread from the 3-month LIBOR then being used to calculate the Regular Interest Rate which should be used in calculating the rate at which Regular Interest on the Notes should accrue so that, in the judgment of such Reference Dealers, the Trading Price, expressed in dollars, of the Notes immediately after the later of:
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Adjusted Spread means, as of any Reset Date, the sum of (i) the Initial Spread plus (ii) the lesser of (A) 3% or (B) the product (calculated as a percentage) of 0.75 multiplied by the number of Reset Dates that have occurred on or prior to such Reset Date. The "Initial Spread" shall mean the difference between (i) 12-1/2% and (ii) the Treasury Rate as of the Closing Date. The
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Examples of Adjusted Spread in a sentence

  • From and after the day following the Final Measurement Date, the Initial Interest Rate shall be increased by the amount equal to the increase, if any, in the Option Adjusted Spread quotation during the Measurement Period, rounded to the nearest basis point; provided, that the Initial Interest Rate shall not be increased by more than 25 basis points.

  • For purposes of determining the Interest Rate, the Trustee may assume that a Reset Transaction has not occurred unless the Trustee has received an Officers’ Certificate stating that a Reset Transaction has occurred and specifying the Adjusted Spread then in effect.

  • As used herein, the "Applicable Rate" shall mean, as of any Reset Date, the sum of (i) the Treasury Rate on such Reset Date plus (ii) the Adjusted Spread (as hereinafter defined) for such Reset Date; provided, that during such periods as the Senior Credit Facility, the Mezzanine Credit Facility and any Refinancing Credit Facility meet the Interest Rate Cap Criteria, the Applicable Rate shall not exceed 15-1/2% or be less than 12-1/2%.

  • The "Adjusted Spread" shall mean, as of any Reset Date, the sum of (i) the Initial Spread plus (ii) the lesser of (A) 3% or (B) the product (calculated as a percentage) of 0.75 multiplied by the number of Reset Dates that have occurred on or prior to such Reset Date.

  • For purposes of determining the Interest Rate, the Trustee may assume that a Reset Transaction has not occurred unless the Trustee has received an Officers’ Certificate of the Company stating that a Reset Transaction has occurred and specifying the Adjusted Spread then in effect.


More Definitions of Adjusted Spread

Adjusted Spread means, the Initial Spread plus the Index Spread minus the Initial Index Spread.
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Adjusted Spread has the meaning given thereto in Section 3.06(c) hereof.
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Adjusted Spread means, with respect to the Rule 144A Notes with respect to Tranche B and the Rule 144A Notes with respect to Tranche C (the "Applicable Rule 144A Notes"), a number of basis points equal to: (a) the number of basis points agreed to by APT and Nokia after consultation with the Designated Placement Agent as the spread applicable to the Rule 144A Sale of the Applicable Rule 144A Notes contemplated by this Agreement as of the time at which the price of the Applicable Rule 144A Notes is determined (or, if the Applicable Rule 144A Notes are Rule 144A Notes with respect to Tranche B *** * * * or, if the Applicable Rule 144A Notes are Rule 144A Notes with respect to Tranche C * * * * * * minus ----- (b) the difference (whether positive or negative) of (i) the * * * as of the time at which the price of the Applicable Rule 144A Notes is determined (or, if the Applicable Rule 144A Notes are Rule 144A Notes with respect to Tranche B and * * * or, if the Applicable Rule 144A Notes are Rule 144A Notes with respect to Tranche C and the * * * minus (ii) the *** * * * provided, however, that if such sum for the Applicable Rule 144A Notes is * * * * * * * * * and provided, further, that if APT and Nokia, after consultation with the Designated Placement Agent, cannot agree on the spread contemplated by (a) above, then the "Adjusted Spread" for the Applicable Rule 144A Notes shall equal ***.
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Related to Adjusted Spread

  • Fixed Spread means the Bank’s fixed spread in effect at 12:01 a.m. Washington, D.C. time, one calendar day prior to the date of the Loan Agreement, for the Currency of denomination of such amount.”

  • Weighted Average Floating Spread means, as of any date of determination, the number, expressed as a percentage, obtained by summing the products obtained by multiplying, in the case of each Floating Rate Portfolio Investment included in the Borrowing Base, on an annualized basis, the Spread of such Floating Rate Portfolio Investments, by the outstanding principal balance of such Floating Rate Portfolio Investments as of such date and dividing such sum by the aggregate outstanding principal balance of all such Floating Rate Portfolio Investments and rounding the result up to the nearest 0.01%.

  • Weighted Average Spread means, as of any day, the number expressed as a percentage equal to (i) the Aggregate Funded Spread divided by (ii) the Aggregate Eligible Collateral Obligation Amount (excluding any interest that has been deferred and capitalized on any Deferrable Collateral Obligation).

  • LIBOR Total Spread means, for each Interest Period: (A) three-fourths of one percent (3/4 of 1%); (B) minus (or plus) the weighted average margin, for such Interest Period, below (or above) the London interbank offered rates, or other reference rates, for six-month deposits, in respect of the Bank’s outstanding borrowings or portions thereof allocated by the Bank to fund single currency loans or portions thereof made by it that include the Loan; as reasonably determined by the Bank and expressed as a percentage per annum.

  • Excess Spread means, with respect to any Distribution Date, the sum of the amounts, if any, specified pursuant to subsections 4.05(a)(iv), 4.05(b)(iii) and 4.05(c)(ii) with respect to such Distribution Date.