Floating Amount. The product of (a) the Notional Amount (b) the Floating Rate Day Count Fraction and (c) the Settlement Spread which shall be calculated in accordance with the following formula: If USD-LIBOR-BBA is greater than the Cap Rate I for the applicable Calculation Period, then Settlement Spread = (USD-LIBOR-BBA - applicable Cap Rate I) provided, however, that if USD-LIBOR-BBA for any Calculation Period is greater than the Cap Rate II then the USD-LIBOR-BBA for such Calculation Period shall be deemed to be the Cap Rate II. If 1 Month USD-LIBOR-BBA is less than or equal to the Cap Rate I for the applicable Calculation Period, then Settlement Spread = Zero. Floating Rate for initial Calculation Period: To be determined Floating Rate Option: USD-LIBOR-BBA Designated Maturity: 1 month Spread: None Floating Rate Day Count Fraction: 30/360 Reset Dates: First day of each Calculation Period. Business Days: New York Calculation Agent: Party A

Floating Amount means an amount equal to the product of (a) the Notional Quantity per Determination Period multiplied by (b) the Floating Price, or as otherwise provided in the Confirmation.

Floating Amount means, for any Payment Date an amount equal to the floating amount payable by the Swap Counterparty to the Issuer for such date pursuant to the Interest Rate Swap.

Examples of Floating Amount in a sentence

Performance of Financially Settled Futures Transactions – The settlement obligations of Exchange and the Contracting Party under any Financially Settled Futures Transaction will be fully performed upon the payment of all amounts by the Fixed Amount Payer and the corresponding Floating Amount Payer under any such Financially Settled Futures Transaction.
The Floating Amount payable under a Futures Transaction by the Floating Price Payer under a Financially Settled Gas Futures Transaction is will be calculated as follows: The Floating Amount equals the Notional Quantity times the Calculation Period times the Floating Price.

More Definitions of Floating Amount

Floating Amount means, for any Transfer Date, an amount equal to the floating amount payable by the Trust to the Swap Counterparty for such date pursuant to the Interest Rate Swap.

Floating Amount means, for any Transfer Date, an amount equal to (a) the floating amount (excluding the amount of any termination payment payable by the Issuer to the Derivative Counterparty pursuant to Section 6 of the Derivative Agreement following the termination of the Derivative Agreement pursuant to the terms thereof) payable by the Issuer to the Derivative Counterparty for such date pursuant to the Derivative Agreement for interest for the Class B(2004-1) Notes, minus (b) the amount, if any, by which the PFA Accumulation Earnings Shortfall plus the PFA Prefunding Earnings Shortfall for the Class B(2004-1) Notes for such Transfer Date exceeds the sum of (i) the aggregate amount withdrawn from the Derivative Reserve Account and (ii) the aggregate amount to be treated as MBNAseries Available Funds pursuant to Section 3.04(a)(i) or 3.04(a)(ii) of the Indenture Supplement, in each case, for the Class B(2004-1) Notes for such Transfer Date; provided, however, that solely for purposes of clause (c) of the definition of PFA Accumulation Earnings Target and clause (c) of the definition of PFA Prefunding Earnings Target, the “Floating Amount” for any Transfer Date will be limited to the amount determined pursuant to clause (a) above.

Floating Amount means, in relation to a Notional Floating Payment Date for a Contract and the Calculation Period then ending, a Gross amount notionally receivable by the FixedRate Payer from the Floating Rate Payer on such Notional Floating Payment Date equal to the product of (i) the relevant Contract Notional Amount, (ii) the relevant Notional Floating Rate and (iii) the relevant Floating Rate Day Count Fraction;

Floating Amount for any Transfer Date, means an amount equal to the floating amount payable by the issuer to the derivative counterparty for such date pursuant to the derivative agreement minus the excess of (i) the targeted amount of principal funding subaccount earnings for the Class B(2002-1) notes for the related month over (ii) the sum of the amount actually earned on such funds for the related month, plus amounts withdrawn from the applicable accumulation reserve subaccount, plus collections of finance charge receivables allocable to the designated portion of the Seller Interest, if any, plus amounts withdrawn from a derivative reserve account, in each case, to cover shortfalls on principal funding subaccount earnings, if any. The Floating Amount does not include any termination payments payable by the issuer to the derivative counterparty pursuant to the derivative agreement.

Floating Amount. The product of (a) the Notional Amount, (b) Floating Rate Day Count Fraction and (c) the Settlement Spread which shall be calculated in accordance with the following formula: If USD-LIBOR-BBA is greater than the Strike Rate for the applicable Calculation Period, then Settlement Spread = (USD-LIBOR-BBA - applicable Strike Rate) provided, however, that if USD-LIBOR-BBA for any Calculation Period is greater than the Ceiling Rate then the USD-LIBOR-BBA for such Calculation Period shall be deemed to be the Ceiling Rate. If 1 Month USD-LIBOR-BBA is less than or equal to the Strike Rate for the applicable Calculation Period, then Settlement Spread = Zero. Floating Rate for initial To be set Calculation Period: Floating Rate Option: USD-LIBOR-BBA Designated Maturity: 1 Month Spread: None Floating Rate Day Count Fraction: Act/360 Averaging: Inapplicable Reset Dates: First day of each Calculation Period Business Days: New York Calculation Agent: Party A

Floating Amount. The product of (a) the Notional Amount, (b) the Floating Rate Day Count Fraction, and (c) the Settlement Spread which shall be calculated in accordance with the following formula: If one month USD-LIBOR-BBA is greater than the Cap Rate for the applicable Calculation Period, then Settlement Spread = (USD-LIBOR-BBA - Cap Rate). If one month USD-LIBOR-BBA is less than or equal to the Cap Rate for the applicable Calculation Period, then Settlement Spread = zero.