Alternate Rate Spread Adjustment definition

Alternate Rate Spread Adjustment means the first alternative set forth in the order below that can be determined by Buyer as of the Benchmark Replacement Date:
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Alternate Rate Spread Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Alternate Index Rate, an amount (which may be a positive or negative value or zero) equal to the difference (expressed as the number of basis points) between (1) the average value of the then-current Benchmark during the ninety (90) day period ending as of the most recent Determination Date for which such Benchmark was available and (2) the average value of the applicable Unadjusted Alternate Index Rate during such period.
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Alternate Rate Spread Adjustment means, in connection with any conversion of a Transaction in accordance with the terms hereof to an Alternate Rate Transaction, a spread adjustment as determined by Buyer in its sole but good faith determination at the time of conversion, (which may be positive, negative or zero) equal to (1) (x) if the Transaction is being converted from a LIBOR Transaction to an Alternate Rate Transaction, the daily average of LIBOR (with a floor of zero percent) or (y) if the Transaction is being converted from a Prime Rate Transaction to an Alternate Rate Transaction, the daily average of the Prime Index Rate (with a floor of zero percent), in either case of (x) or (y), as applicable, over the one hundred eighty (180) day period (excluding days within such 180 day period that are not Business Days) ending two (2) Business Days prior to the date of conversion (excluding from such average the five (5) highest days and the five (5) lowest days during such one hundred eighty (180) day period), minus (2) the daily average of the Alternate Index (with a floor of zero percent) over the one hundred eighty (180) day period (or such shorter period to the extent such historical rates are not available, and excluding days within such one hundred eighty (180) day or shorter period that are not Business Days), ending two (2) Business Days prior to the date of conversion (excluding from such average, if such period of averaging exceeds thirty (30) days, the five (5) highest days and the five (5) lowest days during such one hundred eighty (180) day period). Notwithstanding the foregoing, Buyer may elect, in its sole but good faith discretion, to apply its or any then customary alternate rate index and/or spread adjustment methodology, applied at the time of conversion of a Transaction to an Alternate Rate Transaction, then commonly used by Buyer for commercial real repurchase facilities similar in size and character to this Agreement and the transactions included therein in lieu of the actual calculation as provided above.
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More Definitions of Alternate Rate Spread Adjustment

Alternate Rate Spread Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Alternate Index Rate, the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero) that has been selected by Class A Lender giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Alternate Index Rate by the Relevant Governmental Body or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Alternate Index Rate for U.S. dollar-denominated floating rate commercial real estate loans with similarly situated counterparties at such time.
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Related to Alternate Rate Spread Adjustment

  • Alternate Rate means, for any day, the sum of (a) a rate per annum selected by the Administrative Agent, in its reasonable discretion based on market conditions in consultation with the Borrower and the Lenders, plus (b) the Applicable Spread for Eurocurrency Loans, plus (c) the Mandatory Cost. When used in reference to any Loan or Borrowing, “Alternate Rate” refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Alternate Rate.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Pricing Rate the per annum percentage rate for determination of the Price Differential;

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • Central Bank Rate Adjustment has the meaning given to that term in the Reference Rate Terms.