Cap Premium definition
Examples of Cap Premium in a sentence
Such Cap Premium Carryover may be set-off by Party A against any Floating Payment Amounts that Party A may subsequently owe to Party B.
Also for the avoidance of doubt, any such determination will take into account any Cap Premium Carryover (including interest accrued thereon at the Default Rate, compounded on a daily basis) that may be owed by Party B to Party A.
As provided in the Pooling and Servicing Agreement, any Fixed Amounts not paid by Party B to Party A when due shall accrue interest from the due payment date until the date of actual payment (or set-off, as the case may be) at the Default Rate (to be compounded on a daily basis) and shall constitute Cap Premium Carryover.
Section 2(c) of this Agreement will not apply; provided, however, that this provision shall not be construed so as to prevent Party A from setting off any Cap Premium Carryover (including accrued interest at the Default Rate) against amounts owed to Party B on any Floating Rate Payment Date.
On each Reporting Date which shall be a Deposit Date, the Agent shall obtain from the Pricing Agents the quotations which are required in order for the Agent to determine the Cap Premium for the purchase of a Specified Rate Cap on the immediately- succeeding Calculation Date, assuming the occurrence on such Calculation Date of the Borrowing contemplated by any Notice of Borrowing which shall have been delivered on the Reporting Date.
On each Reporting Date which shall be a Deposit Date, the Agent shall obtain from the Pricing Agents the quotations which are required in order for the Agent to determine the Cap Premium for the purchase of a Specified Rate Cap on the immediately-succeeding Calculation Date, assuming, if applicable, the occurrence on such Calculation Date of the Borrowing contemplated by any Notice of Borrowing which shall have been delivered on such Reporting Date.
No later than seven (7) Business Days prior to each Settlement Date, the Borrower shall request the Hedge Counterparty to provide to it the LIBOR Cap Premium for all outstanding LIBOR Caps based on the respective Hedge Rates and the future respective notional schedules then in effect.
If and whenever, pursuant hereto, any adjustment in the Exercise Price Per Warrant occurs, the Lower Cap Premium and the Upper Cap Premium shall both be adjusted by multiplying the Lower Cap Premium or the Upper Cap Premium (as the case may be) by the same fraction as is used to adjust the Exercise Price Per Warrant.
Immediately upon the payment of the Lower Cap Premium or Upper Cap Premium, as applicable, of the exercised Warrant being paid to such Holder, such Holder shall be deemed to have transferred the Lower Capped Shares or the Upper Capped Shares, as the case may be, to Trident Exploration in consideration of Trident Exploration (i) cancelling as fully paid the relevant Exercise Price Loan; and (ii) paying the Lower Cap Premium or Upper Cap Premium, as applicable, to such Holder.
The Exercise Price Per Warrant, the number of Lower Capped Warrants and Upper Capped Warrants issued to the Holders, and the Upper Cap Premium and Lower Cap Premium, are subject to adjustment from time to time upon the occurrence of the events and in the manner provided for in this Article 4.