CDX Index Spread definition
CDX Index Spread means, as of any date of determination, the spread associated with the Markit CDX.NA.IG Series 14 or any successor series (5 Year Period), as available on such date to the applicable office of the Administrative Agent. The CDX Index Spread will be determined (a) in the case of Eurocurrency Rate Advances, on the Business Day on which the Eurocurrency Rate for the initial and any subsequent Interest Period applicable thereto is set and, for such Eurocurrency Rate Advances with an Interest Period longer than three months, at the end of each successive three-month period after the first day of such Interest Period and (b) in the case of Base Rate Advances and Letters of Credit, on the Effective Date and on the last Business Day of each calendar quarter, commencing with the calendar quarter in which the Effective Date occurs.