FFR Spread definition

FFR Spread means, at any date or any period of determination, the FFR Spread that would be in effect on such date pursuant to the chart set forth in Section 2.23 based on the rating of the Borrower’s senior unsecured non-credit enhanced long-term debt.
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Examples of FFR Spread in a sentence

  • Any decrease in the Facility Fee, the applicable LIBOR Spread, the applicable FFR Spread or the Utilization Fee Percentage shall be effective on the date of announcement or publication by any of such rating agencies of an increase in rating or in the absence of announcement or publication on the effective date of such increase in rating.

  • In the event that the Borrower’s senior non-credit enhanced unsecured long-term debt is not rated by either of S&P and ▇▇▇▇▇’▇, then the Facility Fee, the applicable LIBOR Spread and the applicable FFR Spread shall be deemed to be calculated as if the lowest rating category set forth above applied until such time as an amendment to the table above shall be agreed to.

  • Any decrease in the Commitment Fee, the applicable LIBOR Spread or the applicable FFR Spread shall be effective on the date of announcement or publication by any of such rating agencies of an increase in rating or in the absence of announcement or publication on the effective date of such increase in rating.

  • In the event that the Borrower’s senior non-credit enhanced unsecured long-term debt is not rated by either of S&P and M▇▇▇▇’▇, then the applicable LIBOR Spread and the applicable FFR Spread shall be deemed to be calculated as if the lowest rating category set forth above applied until such time as an amendment to the table above shall be agreed to.

  • In the event that the Borrower’s senior non-credit enhanced unsecured long-term debt is not rated by either of S&P and ▇▇▇▇▇’▇, then the Commitment Fee, the applicable LIBOR Spread and the applicable FFR Spread shall be deemed to be calculated as if the lowest rating category set forth above applied until such time as an amendment to the table above shall be agreed to.

  • You acknowledge that Graybridge does not provide: (1) comprehensive financial planning services, and its Service is not a comprehensive investment Service; (2) tax, accounting or legal advice, nor prepare any legal or accounting documents for the implementation of any of the Client’s financial or investment plans; and (3) custody of your Graybridge Account assets.

  • In the event that the Borrower’s senior non-credit enhanced unsecured long-term debt is (i) not rated by any of S&P, M▇▇▇▇’▇ or Fitch or (ii) rated only by Fitch, then the Facility Fee, the applicable LIBOR Spread, the applicable FFR Spread and the Utilization Fee Percentage shall be deemed to be calculated as if the lowest rating category set forth above applied.

Related to FFR Spread

  • ABR Spread or "Commitment Fee", as the case may be, and (b) with respect to any Eurodollar Loan or ABR Loan that is part of a Tranche B Term Borrowing, the applicable rate per annum set forth in the second chart below under the caption "LIBOR Spread" or "ABR Spread", as the case may be, in each case based upon the Consolidated Leverage Ratio as of the fiscal quarter end immediately preceding the most recent Determination Date; provided that (i) the Applicable Rate shall (subject to clause (ii)) be determined by reference to Category 2 until the first Determination Date that is at least six months after the Closing Date, and (ii) the Applicable Rate shall be determined by reference to Category 1 at any time when the Borrower has failed to deliver any financial statement or certificate required to have been delivered under Section 5.03(a), (b) or (c). ----------------------------------------------------------------------------------------------------------- Revolving Credit Borrowings, Swingline Loans, --------------------------------------------- Tranche A Term Borrowings and Commitment Fees --------------------------------------------- ----------------------------------------------------------------------------------------------------------- Consolidated Leverage Ratio LIBOR Spread ABR Spread Commitment Fee --------------------------- ------------ ---------- -------------- ----------------------------------------------------------------------------------------------------------- Category 1 Greater than 3.0 to 1.0 2.75% 1.75% 0.500% ----------------------------------------------------------------------------------------------------------- Category 2 Greater than 2.5 to 1.0 but less than or equal to 3.0 to 1.0 2.50% 1.50% 0.375% ----------------------------------------------------------------------------------------------------------- Category 3 Greater than 2.0 to 1.0 but less than or equal to 2.5 to 1.0 2.25% 1.25% 0.300% ----------------------------------------------------------------------------------------------------------- Category 4 Less than or equal to 2.0 to 1.0 2.00% 1.00% 0.250% ----------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- Tranche B Term Borrowings ------------------------- ---------------------------------------------------------------------------------------- Consolidated ------------ Leverage Ratio LIBOR Spread ABR Spread -------------- ------------ ---------- ---------------------------------------------------------------------------------------- Category 1 Greater than 2.5 to 1.0 3.25% 2.25% ---------------------------------------------------------------------------------------- Category 2 Less than or equal to 2.5 to 1.0 3.00% 2.00% ----------------------------------------------------------------------------------------

  • LIBOR Spread means, at any date or any period of determination, the LIBOR Spread that would be in effect on such date or during such period pursuant to the chart set forth in Section 2.22 based on the rating of the Borrower's senior unsecured long-term debt.

  • Weighted Average Spread means, as of any day, the number expressed as a percentage equal to (i) the Aggregate Funded Spread divided by (ii) the Aggregate Eligible Collateral Obligation Amount (excluding any interest that has been deferred and capitalized on any Deferrable Collateral Obligation).

  • Applicable Spread means, in connection with the Maximum Rate for any Rate Period (and subject to adjustment as described in the definition of Maximum Rate) (i) when there is not a Failed Remarketing Condition, 200 basis points (2.00%), and (ii) while a Failed Remarketing Condition has occurred or is continuing, 200 basis points (2.00%) (up to 59 days of a continued Failed Remarketing Condition), 225 basis points (2.25%) (sixty (60) days but fewer than ninety (90) days of a continued Failed Remarketing Condition), 250 basis points (2.50%) (ninety (90) days but fewer than 120 days of a continued Failed Remarketing Condition), 275 basis points (2.75%) (120 days but fewer than 150 days of a continued Failed Remarketing Condition), 300 basis points (3.00%) (150 days but fewer than 180 days of a continued Failed Remarketing Condition), and 400 basis points (4.00%) (180 days or more of a continued Failed Remarketing Condition); provided that, if at any time when the Applicable Spread is 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) and the Failed Remarketing Condition no longer exists due to the successful remarketing of all Purchased VRDP Shares, then such Applicable Spread of 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) will continue to be the Applicable Spread in connection with determining the Maximum Rate in effect for each Rate Period commencing with the first Subsequent Rate Period after the Failed Remarketing Condition no longer exists through and including the first Subsequent Rate Period ending on or after the 45th day after the day the Failed Remarketing Condition no longer exists; provided, further, that (i) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 225 basis points (2.25%), the date such new Failed Remarketing Condition occurs will be deemed to be the 60th day of a continued Failed Remarketing Condition, (ii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 250 basis points (2.50%), the date such new Failed Remarketing Condition occurs will be deemed to be the 90th day of a continued Failed Remarketing Condition, (iii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 275 basis points (2.75%), the date such new Failed Remarketing Condition occurs will be deemed to be the 120th day of a continued Failed Remarketing Condition, (iv) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 300 basis points (3.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 150th day of a continued Failed Remarketing Condition and (v) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 400 basis points (4.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 180th day of a continued Failed Remarketing Condition, in each case, solely for purposes of determining the Applicable Spread.

  • Fixed Spread means the Bank’s fixed spread in effect at 12:01 a.m. Washington, D.C. time, one calendar day prior to the date of the Loan Agreement, for the Currency of denomination of such amount.”