Floating Rate Obligation definition
Floating Rate Obligation. Any Collateral Obligation that bears a floating rate of interest.
Floating Rate Obligation means any Collateral Loan that bears a floating rate of interest.
Floating Rate Obligation means any obligation that bears interest based on a floating rate index.
Examples of Floating Rate Obligation in a sentence
In connection with each Floating Rate Obligation, neither the Collateral Trustee nor the Collateral Administrator shall have any responsibility or liability for (i) monitoring the status of the applicable Benchmark, (ii) determining whether a substitute index should or could be selected, (iii) determining the selection of any such substitute index or (iv) exercising any right related to the foregoing on behalf of the Issuer or any other Person.
Notwithstanding the foregoing, if a Fallback Rate has been adopted and such Fallback Rate is the same benchmark rate currently in effect for determining interest on a Floating Rate Obligation, references to "Reference Rate" and "Reference Rate-based Index" in this definition of Aggregate Funded Spread with respect to such Floating Rate Obligation shall be deemed to be a reference to such benchmark rate that is the same as the Fallback Rate.
In connection with each Floating Rate Obligation, neither the Trustee nor the Collateral Administrator shall have any responsibility or liability for (i) monitoring the status of the applicable Benchmark, (ii) determining whether a substitute index should or could be selected, (iii) determining the selection of any such substitute index or (iv) exercising any right related to the foregoing on behalf of the Issuer or any other Person.
More Definitions of Floating Rate Obligation
Floating Rate Obligation. Any Collateral Obligation that bears a floating rate of interest. “Flowthrough Entity”: The meaning specified in Section 2.12(g)(i). “GAAP”: The meaning specified in Section 6.3(j). “Global Note”: Any Rule 144A Global Note or Regulation S Global Note. “Governmental Authority”: Whether U.S. or non-U.S., (i) any national, state, county, municipal or regional government or quasi-governmental authority or political subdivision thereof; (ii) any agency, regulator, arbitrator, board, body, branch, bureau, commission, corporation, department, master, mediator, panel, referee, system or instrumentality of any such government or quasi-government entity, or political subdivision thereof; and (iii) any court. “Grant” or “Granted”: To grant, bargain, sell, convey, assign, transfer, mortgage, pledge, create and grant a security interest in and right of setoff against, deposit, set over and confirm. A Grant of the Assets, or of any other instrument, shall include all rights, powers and options (but none of the obligations) of the granting party thereunder, including, the immediate continuing right to claim for, collect, receive and receipt for principal and interest payments in respect of the Assets, and all other Monies payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring Proceedings in the name of the granting party or otherwise, and generally to do and receive
Floating Rate Obligation. Any Collateral Obligation that bears a floating rate of interest. "FRB": The meaning specified in the definition of the term "Deliver". "GAAP": The generally accepted accounting principles (as in effect in the United States).
Floating Rate Obligation. Any Collateral Obligation that bears a floating rate of interest. “GAAP”: The meaning specified in Section 6.3(j). “Global Note”: Any Rule 144A Global Note or Regulation S Global Note.
Floating Rate Obligation. Any Collateral Obligation that bears a floating rate of interest. "FRB": Any Federal Reserve Bank.
Floating Rate Obligation means any Loan that bears a floating rate of interest. “Floor” means the benchmark rate floor provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to the LIBOR Rate. For the avoidance of doubt, as of the Closing Date the Floor is one-half of one percent (0.50%). “Floor Obligation” means, as of any date: (a) a Floating Rate Obligation (1) for which the Related Documents provides for a Libor rate option and that such Libor rate is calculated as the greater of a specified “floor” rate per annum and LIBOR for the applicable interest period and (2) that, as of such date, bears interest based on such LIBOR option, but only if as of such date the LIBOR for the applicable interest period is less than such floor rate; and (b) a Floating Rate Obligation (1) for which the Related Documents provides for a base or prime rate option and such base or prime rate is calculated as the greater of a specified “floor” rate per annum and the base or prime rate for the applicable interest period and (2) that, as of such date, bears interest based on such base or prime rate option, but only if as of such date the base or prime rate for the applicable interest period is less than such floor rate. “Fundamental Amendment” means any amendment, modification, waiver or supplement of or to this Agreement that would (a) increase or extend the term of the Commitments (other than an increase in the Commitment of a particular Lender or addition of a new Lender hereunder agreed to by the relevant Lender(s) pursuant to the terms of this Agreement) or change the Final Maturity Date, (b) extend the date fixed for the payment of principal of or interest on any Advance or any fee hereunder, (c) reduce the amount of any such payment of principal or interest, (d) reduce the rate at which interest is payable thereon or any fee is payable hereunder, (e) release any material portion of the Collateral, except in connection with dispositions permitted hereunder, (f) alter the terms of (x) Section 6.01, Section 9.01, or Section 16.01(b) or any related definitions or provisions in a manner that would alter the effect of such Sections or (y) any provisions (including any relevant definitions) relating to the pro rata treatment of payments to each Lender, (g) modify the definition of the term “Required Lenders” or modify in any other manner the number or percentage of the Lenders required to make any ...
Floating Rate Obligation means any Loan that bears a floating rate of interest. “Floor” means one--half of one percent (0.50%). “Fundamental Amendment” means any amendment, modification, waiver or supplement of or to this Agreement that would (a) change the Final Maturity Date, (b) extend the date fixed for the payment of principal of or interest on the Term LoanLoans or any fee hereunder, (c) reduce the amount of any such payment of principal or interest, (d) reduce the rate at which interest is payable thereon or any fee is payable hereunder, (e) release any material portion of the Collateral, except in connection with dispositions permitted hereunder, (f) alter the terms of (x) Section 6.01, Section 9.01, or Section 16.01(b) or any related definitions or provisions in a manner that would alter the effect of such Sections or (y) any provisions (including any relevant definitions) relating to the pro rata treatment of payments to each Lender, (g) modify the definition of the term “Required Lenders” or modify in any other manner the number or percentage of the Lenders required to make any determinations or waive any rights hereunder or to modify any provision hereof, (h) modify the definition of the terms “Collateral Default Ratio”, “Concentration Limitations”, “Coverage Test”, “Eligible First Lien Obligation”, “Eligible Loan”, “Fundamental Amendment”, “Interest Coverage Ratio Test”, “Minimum Equity Amount”, “Minimum Obligor Amortization Test”, “Minimum Obligor Test”, “Overcollateralization Test”, “Portfolio Quality Test”, “Weighted Average Spread Test”, “Weighted Average Life Test”, “Weighted Average Risk Factor Rating Test”, “Weighted Average Senior Debt Ratio Test”, “Weighted Average TTM EBITDA Test”, “Weighted Average Total Debt Ratio Test”, or in any defined term used therein, in each case in a manner which would have the effect of making more credit available to the Borrower, be adverse
Floating Rate Obligation means any obligation that bears interest based on a variable rate of interest which at the time of purchase is expressed as a spread over a London interbank offered rate or determined by reference to a prime or base rate.