Floating Rate Indebtedness definition
Floating Rate Indebtedness means all Indebtedness which is not Fixed Rate Indebtedness and which is not a Contingent Obligation or an Unused Commitment.
Floating Rate Indebtedness means all Indebtedness of a Person which bears interest at a variable rate during the scheduled life of such Indebtedness and for which such Person has not obtained interest rate swap agreements, interest rate “cap” or “collar” agreements or other similar Derivatives Contracts which effectively cause such variable rates (exclusive of any fixed margins added to any variable component of such rates) to be equivalent to fixed rates less than or equal to the rate (as reasonably determined by the Agent) borne by United States 10-year Treasury Notes at the time the applicable Derivatives Contract became effective.
Floating Rate Indebtedness means all Indebtedness which is not Fixed Rate Indebtedness and which is not a Contingent Obligation or an Unused Commitment. “FMV Cap Rate” means seven and three-quarters percent (7.75%).
Examples of Floating Rate Indebtedness in a sentence
The ratio of (i) Floating Rate Indebtedness of the Parent and its Subsidiaries determined on a consolidated basis to (ii) Total Asset Value, to exceed 0.35 to 1.00 at any time.
The ratio of (i) Floating Rate Indebtedness of the Trust and its Subsidiaries determined on a consolidated basis to (ii) Total Indebtedness, to exceed 0.35 to 1.00 at any time.
The ratio of (i) Floating Rate Indebtedness of the Parent and its Subsidiaries determined on a consolidated basis to (ii) Consolidated Total Indebtedness, to exceed 0.30 to 1.00 at any time.
The ratio of (i) Floating Rate Indebtedness of the Parent and its Subsidiaries determined on a consolidated basis to (ii) Consolidated Total Indebtedness, to exceed 0.35 to 1.00 at any time.
The Parent and the Borrower will not, and will not permit any of their respective Subsidiaries to, incur, assume or suffer to exist at any time Floating Rate Indebtedness in an aggregate outstanding principal amount in excess of $400,000,000.
More Definitions of Floating Rate Indebtedness
Floating Rate Indebtedness means all Indebtedness of a Person which bears interest at a variable rate during the scheduled life of such Indebtedness and for which such Person has not obtained interest rate swap agreements, interest rate “cap” or “collar” agreements or other similar Derivatives Contracts which effectively cause such variable rates to be equivalent to fixed rates or subject to maximum interest rates which, in each case, are reasonably acceptable to the Agent.
Floating Rate Indebtedness means any Indebtedness of a Person which bears interest at a variable rate during the scheduled life of such Indebtedness to the extent that such Person has not entered into an interest rate swap agreement, interest rate “cap” or “collar” agreement or other similar Derivatives Contract with a Person not an Affiliate of such Person and which, as of the date of determination, effectively limits such interest rate exposure in respect of such Indebtedness to a fixed rate less than or equal to the greater of: (i) the sum of: (a) the rate (as determined by the Administrative Agent) borne by United States 10-year Treasury Notes at the time the applicable Derivatives Contract became effective plus (b) 1.50%; and (ii) 8.0%.
Floating Rate Indebtedness means all Indebtedness which is not Fixed Rate Indebtedness and which is not a Contingent Obligation or an Unused Commitment. "FMV Cap Rate" means 9%.
Floating Rate Indebtedness means all Indebtedness of a Person which bears interest at a variable rate during the scheduled life of such Indebtedness and for which such Person has not obtained interest rate swap agreements, interest rate "cap" or "collar" agreements or other similar Derivatives Contracts which effectively cause such variable rates to be equivalent to fixed rates less than or equal to (a) the rate (as determined by the Agent) borne by United States 10-year Treasury Notes at the time the applicable Derivatives Contract became effective plus (b) 1.50%.
Floating Rate Indebtedness means the Class A-T Loan, the Class A-R Loan, the Class B Notes and the Class C Notes which bear interest at a rate equal to:
Floating Rate Indebtedness means all Indebtedness of a Person which
Floating Rate Indebtedness means such portion of Total Indebtedness which, after giving effect to any Derivatives Contracts, at the time of calculation bears current interest at a variable rate that is not then subject to a “cap,” “collar” or other similar arrangement; provided, that Indebtedness shall be deemed subject to a “cap,” “collar” or similar arrangement if (i) with respect to any Secured Indebtedness secured by a Mortgage which is then subject to a “cap,” “collar” or similar arrangement, the terms of which are specified by the documents relating to such Secured Indebtedness, such “cap”, “collar” or similar arrangement with respect to such Secured Indebtedness complies with the specific terms and conditions of such Secured Indebtedness with respect thereto, and (ii) with respect to any other Indebtedness (including any Indebtedness secured by a Mortgage which does not satisfy the terms of clause (i) above), any “cap”, “collar” or similar arrangement with respect to such Indebtedness results in the variable rate being less than or equal to the sum of (x) the rate (as reasonably determined by the Agent) borne by United States Treasury notes with a maturity of 10 years at the time the applicable Derivatives Contract became effective and (y) 3.0% per annum.