Applicable Coupon definition

Applicable Coupon means, for purposes of determining the Make-Whole Amount payable in connection with a prepayment or repayment of Loans, or such loans becoming due and payable on account of an acceleration, on a particular Make-Whole Payment Date, (i) if LIBOR Loans are available on such date, the sum of the LIBOR Rate for a hypothetical LIBOR Loan with an Interest Period of one month commencing on such date and the Applicable Margin or (ii) if LIBOR Loans are not available on such date, the sum of the ABR on such date and the Applicable Margin.
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Applicable Coupon means, as of any date of determination, the applicable rate per annum set forth in the following table that corresponds to the Asset Coverage Ratio calculation as set forth in the most recent Compliance Certificate delivered to each holder of a Note pursuant to Section 7.2(a). For the period from June 10, 2020 through the date that the Company sends each holder of a Note the first Compliance Certificate, the Applicable Coupon will be the rate per annum in the row styled “Level II.” I greater than 180% 8.000 % II less than or equal to 180% 8.500 % Schedule A (to Master Note Purchase Agreement) provided that if any of the following occur (i) the Asset Coverage Ratio is less than 150% (a) solely to the extent caused or permitted by SEC Relief Actions and (b) so long as the SEC Relief Requirements are then satisfied, the Applicable Coupon shall increase by an additional 1.00%; (ii) a Below Investment Grade Event shall have occurred and be continuing, the Applicable Coupon shall increase by an additional 1.00% until the date on which such Below Investment Grade Event is cured; and (iii) an Unsuccessful Equity Offering has occurred and has not been cured by a Successful Equity Offering, the Applicable Coupon shall increase by an additional 1.00%, which step-ups for the avoidance of doubt can be cumulative, but not more than 3.00%. Except as otherwise set forth in this definition, the Applicable Coupon will be based upon the most recent Compliance Certificate. Except as otherwise set forth in this definition, the Applicable Coupon will be re-determined (i) quarterly on the first Business Day of the month following the date of delivery to each holder of a Note of the applicable Compliance Certificate pursuant to Section 7.2(a) or (ii) on the date on which the holders of the Notes receive any Rating necessary to cure such Below Investment Grade Event, as applicable. If the Company fails to furnish any Compliance Certificate when such Compliance Certificate is due, then the Applicable Coupon will be the rate per annum in the row styled “Level II” (or if then in effect, at the rate calculated pursuant to the proviso above) as of the first day of the month following the date on which that Compliance Certificate was required to be delivered until the date on which that Compliance Certificate is delivered, on which date (but not retroactively unless such subsequently delivered Compliance Certificate shows a higher Applicable Coupon than what was in effect during the per...
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Examples of Applicable Coupon in a sentence

  • On the Applicable Coupon Reset Date, however, the Holder hereof will be entitled to receive 100% of the principal amount hereof from (i) the Callholder, if the Callholder purchases this Security pursuant to its Call Option or (ii) the Company, by the exercise of the Put Option by the Trustee for and on behalf of the Holder hereof, if the Callholder does not purchase this Security pursuant to the Call Option.

  • With respect to the Debentures and the Call Option related thereto, the Callholder must deliver irrevocable, written notice (the "Call Notice") to the Trustee of its exercise of the Call Option prior to 4:00 p.m. New York City, no later than fifteen (15) calendar days prior to the Applicable Coupon Reset Date.

  • The Trustee will promptly thereafter notify the holders of the Debentures that the Trustee, on behalf of such holders, is required to exercise the Put Option on the Applicable Coupon Reset Date.

  • The Call Notice shall be given to the Trustee, in writing, prior to 4:00 p.m. New York City, no later than fifteen calendar days prior to the Applicable Coupon Reset Date.

  • If the Callholder has exercised the Call Option, then the following steps (the "Coupon Reset Process") shall be taken in order to determine the interest rate to be paid on the Securities of this series from and including the Applicable Coupon Reset Date to but excluding the next succeeding Coupon Reset Date or, if there are no more Coupon Reset Dates after the Applicable Coupon Reset Date, the Maturity Date.

  • If the Trustee exercises the Put Option then the Company shall deliver the Put Price in immediately available funds to the Trustee by no later than 12:00 p.m. New York time on the Applicable Coupon Reset Date and the holders of the Debentures will be required to deliver and will be deemed to have delivered the Debentures to the Company against payment therefor on the Applicable Coupon Reset Date through the facilities of the Depositary.

  • In anticipation of the exercise of the Call Option or the Put Option on the Applicable Coupon Reset Date, the Trustee shall notify the Holder hereof, not less than 30 days nor more than 60 days prior to the Applicable Coupon Reset Date, that this Security shall be delivered on the Applicable Coupon Reset Date through the facilities of DTC against payment of the Call Price by the Callholder under the Call Option or payment of the Put Price by the Company under the Put Option.

  • If the Callholder (as defined below) elects to purchase the principal amount of this Security pursuant to its Call Option (as defined below), the Calculation Agent (as defined below) will reset the interest rate effective on the Applicable Coupon Reset Date for this Security, pursuant to the procedures set forth in the Calculation Agency Agreement (as defined below).

  • The Callholder, by giving notice to the Trustee (the "Call Notice"), has the right to purchase the aggregate principal amount hereof, in whole but not in part (the "Call Option"), on the Applicable Coupon Reset Date, at a price equal to 100% of the principal amount hereof (the "Call Price") (interest accrued to but excluding the Applicable Coupon Reset Date to be paid by the Company on such date to the Holder hereof on the most recent Regular Record Date).

  • The Callholder, by giving notice to the Trustee in accordance with Section 302 hereof, has the right to purchase the aggregate principal amount of Debentures, in whole but not in part (the "Call Option"), on the Applicable Coupon Reset Date, at a price equal to 100% of the principal amount thereof (the "Call Price") (interest accrued to but excluding the Applicable Coupon Reset Date to be paid by the Company on such date to the holders of the Debentures on the most recent Regular Record Date).

Related to Applicable Coupon

  • Applicable Commitment Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Applicable Amount means, at any time (the “Applicable Amount Reference Time”), an amount equal to (a) the sum, without duplication, of:

  • Applicable Commitment Fee Rate means:

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: II 10.0 V 17.5

  • Applicable Collateral Percentage with respect to any Firm Collateral or Special Firm Collateral, has the meaning set forth in the books and records of the Partnership with respect thereto.