Initial Floating Interest Rate definition

Initial Floating Interest Rate has the meaning set forth in clause (d)(1) of Section 2.02 of this Supplemental Indenture.
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Initial Floating Interest Rate means an interest rate per annum equal to the sum of (A) the SOFR Index Average, as determined (i) with respect to the Fixed-to-Floating Rate Notes, on the second U.S. Government Securities Business Day preceding the applicable Call Date and (ii) with respect to the Floating Rate Notes, on the second U.S. Government Securities Business Day preceding the Initial Floating Rate Interest Payment Date, and (B) the applicable Margin, subject the Minimum Rate.
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Initial Floating Interest Rate means an interest rate per annum equal to the sum of (A) the SOFR Index Average on the second U.S. Government Securities Business Day preceding the applicable Call Date, and (B) the applicable Margin, subject to the Minimum Rate.
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Examples of Initial Floating Interest Rate in a sentence

  • During the applicable Floating Rate Period, the interest rate on the Securities for the first applicable Floating Rate Interest Period shall be equal to the applicable Initial Floating Interest Rate.


More Definitions of Initial Floating Interest Rate

Initial Floating Interest Rate has the meaning set forth in clause (a) of Section 3.01 of this Supplemental Indenture;
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Initial Floating Interest Rate for any month means the per annum rate equal to the sum of (i) the average per annum rate for Euro-Dollar Borrowings made under the Senior Credit Facility for such month, plus (ii) 375 basis points; provided, however, for any month that the Company has no Euro-Dollar Borrowings, the Initial Floating Interest Rate for that month shall be (i) the average per annum rate for Base Rate Borrowings made under the Senior Credit Facility for such month, plus (ii) 375 basis points.
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Related to Initial Floating Interest Rate

  • Floating Interest Rate means the variable annual interest rate calculated for each Interest Adjustment Period so as to equal the Index Rate for such Interest Adjustment Period (truncated at the 5th decimal place if necessary) plus the Margin. However, in no event will the Floating Interest Rate exceed the Capped Interest Rate.

  • Mortgage Interest Rate For any Mortgage Loan, the per annum rate at which interest accrues on such Mortgage Loan pursuant to the terms of the related Mortgage Note.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus two and one-half percent (2.50%) with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus three and one-half percent (3.50%) with respect to Eurodollar Rate Loans.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.