Carry Yield definition
Carry Yield means, with respect to a Collateral Debt Security, the effective yield (determined by MLI in good faith) on such Collateral Debt Security on the first day of the Carry Period for such Collateral Debt Security implied by the MLI Purchase Price (expressed on a “clean” basis); provided that, with respect to any such Collateral Debt Security that bears interest at an interest rate determined by reference to a fixed spread above a London interbank offered rate, such effective yield (as determined by MLI in good faith) shall be expressed as the sum of (i) such London interbank offered rate (as in effect from time to time) plus (ii) a spread above the level of such London interbank offered rate used to calculate such interest rate for the period that includes the first day of the Carry Period for such Collateral Debt Security.
Carry Yield means, with respect to a Capital Security and the related Carry Period, the sum of (i) accrued and unpaid interest on such Capital Security and (ii) interest actually received by Bear ▇▇▇▇▇▇▇ on such Capital Security.