Alternative Spread definition
Alternative Spread shall have the meaning assigned to such term in the Fee Letter.
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.
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.
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.
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).
Alternative Spread shall have the meaning set forth in Section 2.2.3(b).
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.
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.
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.