Bridge Cap Rate definition
Bridge Cap Rate means the maximum interest rate, as calculated by the Administrative Agent, which shall be fixed at the Initial Loan Maturity Date (or in the event of a Demand Failure Event that occurs prior to the Initial Loan Maturity Date, the later of such Demand Failure Event and the Closing Date), such that the weighted average effective yield (calculated inclusive of original issue discount and upfront fees but exclusive of any fees or underwriting discount payable to the Commitment Parties or their Affiliates) on the Exchange Notes, the Extended Term Loans, the Senior Notes and the Takeout Debt does not exceed the Bridge Cap.
Examples of Bridge Cap Rate in a sentence
The Extended Term Loans shall bear interest at a rate per annum equal to the Bridge Cap Rate.
Notwithstanding the foregoing, the interest rate on the Initial Loans shall not at any time exceed the applicable Bridge Cap Rate as of such time.