Examples of LIBOR Floor in a sentence
If LIBOR is below this rate, then the LIBOR Floor will be the new LIBOR rate.Minimum Contractual Return: Minimum return expected which is determined by the Spread above LIBOR and the contractual LIBOR Floor applicable to each loan.Other Fees: Original Issue Discount and Call Protection Fees.Original Issue Discount (OID): The discount from par value at the time that the loan is issued.
Excluded from the investment above is a delayed draw term loan commitment in an amount not to exceed $18,750,000, with an interest rate of LIBOR plus 6.75%, a LIBOR Floor of 0.50%, and a maturity of September 26, 2019.
For the Tranche B-2 Term Facility, the minimum interest rate for LIBOR applicable to such facility pursuant to the terms of the Credit Agreement is set at 0.75%, referred to herein as the B-2 LIBOR Floor.
Because cash income from the LIBOR Floor Certificates was greater than the principal and interest payments due (or even allowable) on the 25% Note, the excess income from the LIBOR Floor Certificates was deposited into a reserve bank account for the benefit of BHAC Capital Series A-1 Unitholders (“Floor Bonds Reserve Account”).
On November 2, 2007, the LIBOR Floor Certificates were issued, in physical form, and transferred directly to DL-DW, one of the ultimate equity owners of the Debtors, rather than to the Debtor borrowers making concessions and providing all payments under the loan agreements.