Floating Index definition

Floating Index means, at any time, the higher of (i) the Prime Rate or (ii) the Federal Funds Rate plus one-half of one percent (0.50%).
View Source
Floating Index means, with respect to any Monthly Interest Accrual Period, the SOFR Rate determined by the Administrative Agent, based upon the Reference Source chosen at the Administrative Agent’s sole and absolute discretion, for the day that is two (2) Business Days prior to the commencement of such Monthly Interest Accrual Period (however, in the event the SOFR Rate is not displayed on the Reference Source on such date, then such date shall be deemed to mean the next immediately preceding date on which the SOFR Rate is displayed on the Reference Source); provided, however, in the event the SOFR Rate is replaced by a Successor Rate pursuant to Section 1.14 of this Agreement, then such Successor Rate shall be used as the new Floating Index; provided, further, however, in no event shall the Floating Index be deemed at any time to be less than the Floor Rate for purposes of determining the Note Rate.
View Source
Floating Index means, for any Interest Period, an established and published variable index rate. The Floating Index shall be communicated in writing by ▇▇▇▇▇▇ Mac to National Rural in accordance with Section 2.02(d) hereof. The Floating Index for any Floating Rate Note shall be set forth in the applicable Pricing Agreement.
View Source

Examples of Floating Index in a sentence

  • The Floating Index shall reset as of the first day of each Interest Period.

  • The Floating Index and Applicable Margin for the term of each Floating Rate Note shall be specified in the applicable Pricing Agreement.

  • The Floating Index and Applicable Margin (Floating) for the term of each Floating Rate Note shall be specified in the applicable Pricing Agreement.

  • The Reset Interest Rate Proposal for the adjustments occurring on March 1, 2010, March 1, 2012 and March 1, 2014 shall continue to be based on the Floating Index.

  • Composite of Bloomberg-Barclays ABS Fixed Index (ticker: LUABTRUU) and Bloomberg-Barclays ABS Floating Index (ticker: LD09TRUU), weighted based on the proportion of the subject portfolio that has fixed/floating coupons Collateralized loan and debt obligations This component of the portfolio invests in the full spectrum of debt and equity securities of collateralized loan and debt obligations.

  • Dollar(1) ---------------------------------- -------------------- Receive Receive Receive Receive Receive Fixed Floating Floating Index/ Fixed Floating Nov.

  • That direction shall specify whether the Series 2014A Interest is to be calculated at the Weekly Rate, Daily Rate, Long-Term Rate, Certificate Interest Term Rates, Floating Index Rate and/or Applicable ARS Rate and shall be accompanied by a copy of the notice required to be given by the Trustee pursuant to Section 202(b)(iii), 202(c)(iii), 202(d)(iii), 202(e)(iii), 202(i)(iii) or 204(l), as the case may be.

  • If the Floating Index is no longer so published, the Floating Index used to adjust the rate shall be the one-month LIBOR rate published on the related Determination Date by a daily business publication or Internet service reasonably acceptable to Lender.


More Definitions of Floating Index

Floating Index means LIBOR, as determined by Lender, as LIBOR is displayed on the LIBOR Reference Source chosen at Lender’s discretion two (2) Business Days prior to the commencement of any Monthly Interest Accrual Period (however, in the event LIBOR is not displayed on the LIBOR Reference Source on such date, then such date shall be deemed to mean the next immediately preceding date on which LIBOR is displayed on the LIBOR Reference Source), provided, however, in the event LIBOR is replaced by a LIBOR Successor Rate pursuant to Section 2.2(e) of this Agreement, then such LIBOR Successor Rate shall be used as the new Floating Index.
View Source