Borrower Interest definition

Borrower Interest means, with respect to any Person that is not a Wholly-Owned Subsidiary of the Borrower, the percentage of the Capital Stock or other equity interests in such Person owned by the Borrower or a Wholly-Owned Subsidiary of the Borrower; provided, however, that in calculating the “Borrower Interest” held with respect to any liabilities or Indebtedness of such a Person, such percentage shall be the greater of (a) the percentage calculated pursuant to the foregoing provisions of this definition and (b) the percentage amount of such liabilities and/or Indebtedness which is recourse to any Consolidated Party holding interests in such Person (in each case without duplication of amounts already included in the applicable calculation).
View Source
Borrower Interest means, for any period, the aggregate Borrower Cash Interest Expense for such period, including the portion of any payments made in respect of Capitalized Lease liabilities allocable to interest expense, plus the aggregate scheduled recurring fees, in each case, in respect of Indebtedness of the Borrower for such period, plus the net amount payable (or minus the net amount receivable) by the Borrower under Interest Hedging Agreements relating to Indebtedness of the Borrower (other than any such amount payable or receivable by the Borrower during such period as a result of the termination or reduction of the notional amount of any Interest Hedging Agreements to the extent such amount payable or receivable is not already included in Borrower Cash Interest Expense), in each case calculated in accordance with GAAP. For the avoidance of doubt, Borrower Interest shall exclude make whole payments.
View Source

Examples of Borrower Interest in a sentence

  • Interest will be calculated on the actual number of days each loan is outstanding on the basis of a year consisting of 360 days and will be payable monthly in arrears by the 20th day of the following month or on such other day as Lender will require in a written notice to the Borrower ("Interest Payment Date").

  • Interest will be calculated on the actual number of days each loan is outstanding on the basis of a year consisting of 360 days and will be payable monthly in arrears by the 20th day of the following month or on such other day as Agent will require in a written notice to the Borrower ("Interest Payment Date").

  • Commencing with the fiscal quarter ending June 30, 2014 and as of the last day of each fiscal quarter thereafter, permit the Borrower Interest Coverage Ratio for the most recently completed Measurement Period to be less than 1.75:1.00.

  • Unless otherwise agreed by the Issuer with the consent of the Borrower, Interest Payment Dates in the Stepped Coupon Mode shall be each May 1 and November 1.

  • Borrower Interest Rate Cap Party shall take all actions reasonably requested by L▇▇▇▇▇ to enforce Lender’s rights under the Interest Rate Cap Agreement in the event of a default by the Counterparty and shall not waive, amend or otherwise modify any of its rights thereunder.

  • Commencing with the fiscal quarter ending December 31, 2021 and as of the last day of each fiscal quarter thereafter, permit the Borrower Interest Coverage Ratio for the most recently completed Measurement Period to be less than 1.75:1.00.

  • This Loan Agreement, the Borrower Interest Pledge Agreement, the Account Control Agreement and the financing statements and Form C1 filed in connection with this Loan Agreement create a valid first priority security interest in favor of the Administrative Agent (for the benefit of the Secured Parties) in the Collateral, which security interest has been perfected (free and clear of any Adverse Claim) as security for the Obligations.

  • If requested by Borrower, Interest, principal payments and any fees and expenses owed Lender from time to time will be deducted by Lender automatically on the due date from Borrower’s account with Lender, as designated in writing by Borrower.

  • All amounts paid by the Counterparty under the Interest Rate Cap Agreement to Borrower Interest Rate Cap Party or Lender shall be deposited immediately as directed by L▇▇▇▇▇.

  • Permit the Borrower Interest Coverage Ratio for the most recently completed Measurement Period to be less than 1.75 to 1.0.