Certificate Spread definition

Certificate Spread means: (A) if Tricon has a senior public unsecured debt rating from each of the Rating Agencies of at least "BBB" or higher, the Certificate Spread shall be .750% per annum; (B) if Tricon has a senior public unsecured debt rating from each of the Rating Agencies of "BBB-", the Certificate Spread shall be 1.00% per annum; (C) if Tricon has a senior public unsecured debt rating from each of the Rating Agencies of at least "BB" but less than "BBB-", the Certificate Spread shall be 1.40% per annum; (D) if Tricon has a senior public unsecured debt rating from each of the Rating Agencies of "BB-", the Certificate Spread shall be 1.75% per annum; (E) if Tricon has a senior public unsecured debt rating from each of the Rating Agencies of "B+" or has a senior public unsecured debt rating from any of the Rating Agencies below "B+" or if Tricon does not have a senior public unsecured debt rating from each of the Rating Agencies, the Certificate Spread shall be 2.00% per annum; and (F) notwithstanding Tricon's senior public unsecured debt rating and the foregoing, at any time a Spread Increase Event has occurred and is continuing, the Certificate Spread shall be 2.50% per annum; provided, however that Trustee shall not be responsible for determining the senior public unsecured debt rating of Tricon.
View Source
Certificate Spread means (a) with respect to any Eurodollar Tranche, eighty-seven and one-half basis points (0.875%) per annum, (b) with respect to any CP Tranche, seventy-five basis points (0.75%) per annum, (c) with respect to any ABR Tranche, zero basis points (0%) per annum, and (d) notwithstanding the foregoing, at any time a Spread Increase Event has occurred and is continuing, the Certificate Spread with respect of any Eurodollar Tranche, any CP Tranche, and any ABR Tranche shall be two hundred fifty basis points (2.50%) per annum.
View Source
Certificate Spread means (i) with respect to any Eurodollar Tranche, 0.25% per annum, and (ii) with respect to any ABR Tranche, 0.00% per annum.
View Source

Examples of Certificate Spread in a sentence

  • Interest on a Eurodollar Tranche shall accrue during any Interest Period at a rate per annum equal to the sum of (i) the Reserve Adjusted Eurodollar Rate, plus (ii) the Certificate Spread, and shall be calculated on the basis of actual days over a year of 360 days.

  • Amount shall accrue at a rate per annum equal to LIBOR in effect on the most recent Distribution Date plus the Class A Certificate Spread.

  • Interest on the ABR Tranche shall accrue at a rate per annum equal to the sum of (i) the Alternate Base Rate in effect from time to time plus (ii) the Certificate Spread, and shall be calculated on the basis of actual days over a year of 365 or 366 days, as the case may be.

  • Interest on a Eurodollar Tranche shall accrue during any Interest Period at a rate per annum equal to the sum of (i) the Reserve Adjusted Eurodollar Rate, plus (ii) the Certificate Spread and shall be calculated on the basis of actual days over a year of 360 days.

  • Interest on a CP Tranche shall accrue during any Interest Period at a rate per annum equal to the sum of (i) the CP Rate plus (ii) the Certificate Spread, and shall be calculated on the basis of actual days over a year of 360 days.

Related to Certificate Spread

  • Class A Certificate Principal Balance As of any date of determination, the sum of the Class A-1 Certificate Principal Balance, the Class A-2A Certificate Principal Balance, the Class A-2B Certificate Principal Balance, the Class A-2C Certificate Principal Balance, the Class A-2D Certificate Principal Balance and the Class R Certificate Principal Balance.

  • Class A-1 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class A-1 Certificates.

  • Certificate Interest Rate With respect to each Class of Certificates and any Distribution Date, the applicable per annum rate set forth or described in the Preliminary Statement hereto.

  • Certificate Margin As to any Class of LIBOR Certificates, the respective amount set forth below:

  • Class A Certificate Rate means, for any Interest Accrual Period with respect to the Class A Certificates, a per annum rate equal to LIBOR plus 0.11%.