Alternative Spread definition

Alternative Spread shall have the meaning assigned to such term in the Fee Letter.
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Alternative Spread means with respect to that portion of the Outstanding Principal Balance evidenced by a Note, the number of basis points determined as the sum of (a) the Term SOFR Interest Rate last in effect for the Interest Period immediately prior to the date on which Lender has determined that the Alternative Rate is in effect with respect to the Loan, plus (b) the Spread applicable to such Note, less (c) the Alternative Rate Index in effect as of the last date of its determination pursuant to the definition thereof immediately prior to the date on which Lender has determined that the Alternative Rate is in effect with respect to the Loan, plus (d) an adjustment (which may be a positive or negative value or zero) that has been selected by Lender giving due consideration to any evolving or then-prevailing market convention, including any applicable recommendations made by the Relevant Governmental Body.
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Alternative Spread means the Replacement Spread; provided, however, that, if an Alternative Rate Trigger has occurred and a Replacement Rate Index and Replacement Spread have not yet been selected by Administrative Agent, the Alternative Spread shall be the Prime Rate Spread.
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Examples of Alternative Spread in a sentence

  • During any period in which the LIBOR Interest Rate is determined by reference to the Alternative Index plus the Alternative Spread, the LIBOR Interest Rate shall continue to float and be adjusted daily.

  • Class D Deferred Interest Amount accrued to any Distribution Date shall bear interest equal to equal to LIBOR plus the lesser of (i) 3.00% and (ii) the Alternative Spread per annum, if any, and shall be payable on the first Distribution Date on which funds are permitted to be used for such purpose in accordance with the Priority of Payments.


More Definitions of Alternative Spread

Alternative Spread means, as of the last date that the LIBOR is used to calculate the Calculated Rate, the difference between (a) the Calculated Rate, minus (b) the Alternative Index.
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Alternative Spread means the number of basis points determined as the sum of (i) LIBOR on the Index Change Date immediately prior to the date on which Lender has determined that the Alternative Index is in effect with respect to the Loan, plus (ii) the then-applicable LIBOR Spread, less (iii) the Alternative Index on the Index Change Date immediately prior to the date on which Lender has determined that the Alternative Index is in effect with respect to the Loan; provided that, (a) if such sum is a negative number, then the Alternative Spread shall be zero and (b) the "Alternative Spread" during the Extension Period shall be calculated (or recalculated if the Index Change Date occurred prior to such Extension Period) based on the LIBOR Spread applicable to such Extension Period (whether or not the Index Change Date occurred during or prior to such Extension Period).
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Alternative Spread shall have the meaning set forth in Section 2.2.3(b).
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Alternative Spread means with respect to that portion of the Outstanding Principal Balance evidenced by a Note, the number of basis points determined as the sum of (a) the LIBOR Interest Rate last in effect for the Interest Period immediately prior to the date on which Administrative Agent has determined that the Alternative Rate is in effect with respect to the Loan. plus (b) the Spread applicable to such Note less (c) the Alternative Rate Index in effect as of the last date of its determination pursuant to the definition thereof immediately prior to the date on which Administrative Agent has determined that the Alternative Rate is in effect with respect to the Loan: provided however in no event shall such difference be a negative number.
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Alternative Spread means, if SLHT certifies to the Trustee that it is the beneficial owner of 100% of the Class D Notes, the spread specified by SLHT in a notice to the Trustee at least two Business Days prior to the commencement of any Interest Period, to which spread any Financing Party and the Holders of 100% of the Class D Notes have given their written consent.
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Alternative Spread means, in connection with any conversion of a Transaction from a LIBOR Transaction to an Alternative Rate Transaction, the difference (expressed as the number of basis points) between (a) the LIBO Rate plus the Applicable Margin applicable to such Transaction as of the Pricing Rate Determination Date for which LIBOR was last available minus (b) the Alternative Index as of such Pricing Rate Determination Date; provided that in the event that Buyer reasonably determines that any Alternative Spread determined in accordance with the foregoing provisions does not adequately and fairly reflect the cost to Buyer of making or maintaining Transactions or is inconsistent with market practice for transactions of the kind provided for in this Agreement, the Alternative Spread shall be determined as mutually agreed at such time by Buyer and the Sellers, which agreement shall not be unreasonably withheld, conditioned or delayed by Buyer or Sellers.
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Related to Alternative Spread

  • Applicable Spread means, in connection with the Maximum Rate for any Rate Period (and subject to adjustment as described in the definition of Maximum Rate) (i) when there is not a Failed Remarketing Condition, 200 basis points (2.00%), and (ii) while a Failed Remarketing Condition has occurred or is continuing, 200 basis points (2.00%) (up to 59 days of a continued Failed Remarketing Condition), 225 basis points (2.25%) (sixty (60) days but fewer than ninety (90) days of a continued Failed Remarketing Condition), 250 basis points (2.50%) (ninety (90) days but fewer than 120 days of a continued Failed Remarketing Condition), 275 basis points (2.75%) (120 days but fewer than 150 days of a continued Failed Remarketing Condition), 300 basis points (3.00%) (150 days but fewer than 180 days of a continued Failed Remarketing Condition), and 400 basis points (4.00%) (180 days or more of a continued Failed Remarketing Condition); provided that, if at any time when the Applicable Spread is 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) and the Failed Remarketing Condition no longer exists due to the successful remarketing of all Purchased VRDP Shares, then such Applicable Spread of 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) will continue to be the Applicable Spread in connection with determining the Maximum Rate in effect for each Rate Period commencing with the first Subsequent Rate Period after the Failed Remarketing Condition no longer exists through and including the first Subsequent Rate Period ending on or after the 45th day after the day the Failed Remarketing Condition no longer exists; provided, further, that (i) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 225 basis points (2.25%), the date such new Failed Remarketing Condition occurs will be deemed to be the 60th day of a continued Failed Remarketing Condition, (ii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 250 basis points (2.50%), the date such new Failed Remarketing Condition occurs will be deemed to be the 90th day of a continued Failed Remarketing Condition, (iii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 275 basis points (2.75%), the date such new Failed Remarketing Condition occurs will be deemed to be the 120th day of a continued Failed Remarketing Condition, (iv) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 300 basis points (3.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 150th day of a continued Failed Remarketing Condition and (v) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 400 basis points (4.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 180th day of a continued Failed Remarketing Condition, in each case, solely for purposes of determining the Applicable Spread.

  • 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).