Interest Breakage Costs definition

Interest Breakage Costs is specified as applicable in the relevant Transaction Supplement, on the Cash Settlement Payment Date related to the relevant Acceleration Date, (i) if the Interest Breakage Amount is positive, the Floating Amount Payer will pay to the other party an amount in cash equal to the Interest Breakage Amount or (ii) if the Interest Breakage Amount is negative, the other party will pay to the Floating Amount Payer an amount in cash equal to the absolute value of the Interest Breakage Amount.
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Interest Breakage Costs means an amount to be calculated from time to time by the Lender as: For Market Loans with an Interest Period not exceeding 6 months: the loss or gain of breaking any remaining part of the current Interest Period. For Market Loans with an Interest Period exceeding 6 months: the loss or gain calculated on the basis of a conversion of all remaining (i.e. for the period during which interest has been fixed) interest payments (less the Margin) to the 6 months USD LIBOR minus 0.125 % (zero point one two five per cent) (on the date of prepayment). The market rate then prevailing for the remaining part of the Tranche, as determined by the Lender, shall be used as discounting rate. For CIRR Loans: the difference between the outstanding principal amount of the relevant Tranche and the market value of the Tranche, which market value shall be calculated by the Lender as the net present value of the aggregate of (i) all outstanding instalments at the time of (p)repayment and (ii) all Interest that would have been payable thereon, using as discounting rate the CIRR applicable at the date of (p)repayment for a period equal to the remaining maturity of the Tranche at the time of (p)repayment (or in case of a part prepayment, an amount equal to the proportional part of the above aggregate amount). If at the time of prepayment the fixing of the CIRR has been abandoned, the discounting rate shall be the rate of Interest per annum determined by the Danish Central Bank (“Danmarks Nationalbank”) to be the replacement for CIRR for the relevant maturity. For Index Loan: No Interest Breakage Costs are applicable (but the Tranche will be indexed on the basis of the index factor on the date of (p)repayment).
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Interest Breakage Costs means an amount to be calculated from time to time by the Lender as:
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Examples of Interest Breakage Costs in a sentence

  • On the Optional Sale Date (with respect to Optional Sales) and on or prior to the Special Reduction Amount Date (with respect to Special Reduction Amounts), the Seller shall remit to the Administrative Agent the Optional Sale Proceeds or Special Reduction Amount, as applicable, for payment to reduce Advances Outstanding, related accrued Interest, Breakage Costs and Hedge Breakage Costs.

  • On the Optional Sale Date (with respect to Optional Sales) and or prior to the Special Reduction Amount Date (with respect to Special Reduction Amounts), the Seller shall remit to the Administrative Agent the Optional Sale Proceeds or Special Reduction Amount, as applicable, for payment to reduce Advances Outstanding, related accrued Interest, Breakage Costs and Hedge Breakage Costs.

  • If for any reason, including without limitation the occurrence of an Event of Default, and without prejudice to the foregoing the Loan or any part thereof is prepaid or repaid to the Lender on a day other than in accordance with this Agreement, the Borrower shall pay to the Lender on demand such amount as may be necessary to compensate the Lender for any funding costs, including but not limited to Interest Breakage Costs.

  • The Borrower shall on demand pay and indemnify the Lender for all costs, losses and expenses incurred by the Lender (including, without limitation, Interest Breakage Costs, in the event that the Borrower, whether by reason of or failure to satisfy any condition precedent or otherwise, fails to draw the Advance following the delivery of the Drawdown Notice, except if such failure to satisfy a condition results from an action or failure to act by the Lender.

  • The Company shall have delivered to the Administrative Agent an irrevocable notice of prepayment of the Tranche B Dollar Loans stating the date of the Proposed Dollar Prepayment and the aggregate amount of the Proposed Dollar Prepayment; Interest; Breakage Costs.