ARD Interest Rate definition
ARD Interest Rate means, with respect to each Component, a rate per annum equal to the sum of (i) three percent (3.00%) plus (ii) the greater of (A) the Initial Interest Rate and (B) a rate equal to the sum of (1) Lender’s determination as of the Anticipated Repayment Date (or the preceding Business Day if the Anticipated Repayment Date is not a Business Day) of a rate equal to the sum of (x) the bid side yield to maturity for the “on the run” United States Treasury note with a 10 year maturity plus (y) the mid market 10 year swap spread, each as displayed on Telerate Page 19901 on Dow ▇▇▇▇▇ Telerate, Inc. (or as determined by Lender from such other market source as Lender determines if such Telerate Page 19901 or such service setting forth such yield and spread are not available at the time of determination by Lender) plus (2) the Applicable Component Spread for such Component.