LIBOR Strike Rate definition

LIBOR Strike Rate means (1) with respect to the Initial Interest Rate Cap Agreement, 5.25%; and (2) with respect to any Extension Interest Rate Cap Agreement, the lesser of (x) 6% and (y) the interest rate that would result in a DSCR of 1.0x as of the first day of the Extension Term.
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LIBOR Strike Rate is hereby deleted in its entirety and the following is inserted in lieu thereof:
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LIBOR Strike Rate. For any Distribution Date and Corridor Contract, the applicable LIBOR Strike Rate set forth in the related Confirmation for such Distribution Date.
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Examples of LIBOR Strike Rate in a sentence

  • Any Initial Interest Rate Cap Agreement shall have a LIBOR strike rate equal to or less than the LIBOR Strike Rate.

  • Any Initial Interest Rate Cap Agreement shall have a LIBOR strike rate equal to or less than the then-applicable LIBOR Strike Rate.

  • On or before the date hereof, Borrower shall obtain a Rate Cap with a notional amount equal to the Maximum Loan Amount for the benefit of Lender which provides for payments to be made by the Rate Cap Provider if, at any time during the term of the Loan, the LIBOR Rate exceeds the LIBOR Strike Rate.

  • The borrower is required to maintain a LIBOR Strike Rate of 5.65% through the initial Maturity Date which may be subject to adjustment during the extension period.

  • The Initial Interest Rate Cap Agreement shall have a LIBOR strike rate equal to or less than the LIBOR Strike Rate.

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  • The contract specifications are as follows:Time to expiry: 3 months (say 92 days) Underlying Interest Rate: 6-month LIBOR Strike Rate: 9%Face Value: $5 millionPremium or Option Value: 50 b.p. (0.5% of face value) = $25,000The current three and six month LIBORS are 8.60 and 8.75% respectively.

  • The related Loan Documents require a LIBOR Strike Rate of 5.65% through the initial Maturity Date.

  • DSCR calculation is based on the one-month LIBOR of 5.32% plus the applicable Gross Margin or the LIBOR Strike Rate.


More Definitions of LIBOR Strike Rate

LIBOR Strike Rate means 4.75%.
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LIBOR Strike Rate means (a) 4.50% until the Maturity Date; (b) for each Extension Term, a rate per annum that when added to the Margin it achieves a Debt Service Coverage Constant Ratio of at least 1.33:1.0 (calculated as of the commencement date of each Extension Term based on the most current financial information provided by Borrower pursuant to Section 9.11).
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LIBOR Strike Rate means, (a) with respect to the initial term of the Loan, 4.5%, and (b) with respect to each Extension Term, if any, the greater of (x) 4.5% and (y) the rate which would result in a DSCR equal to 1.05 for the most recently concluded Test Period, calculated on a pro forma basis as if such LIBOR Strike Rate were applicable to such Test Period and as if the Principal Indebtedness throughout such Test Period were equal to the Principal Indebtedness at the time of extension (in each case excluding from the determination of DSCR for such Test Period the effect of any Mortgaged Property released from the Collateral prior to the commencement of the applicable Extension Term).
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LIBOR Strike Rate means, with respect to any Extension Interest Rate Cap Agreement, the greater of (x) 4.5% and (y) the rate which would result in a DSCR equal to 1.05 for the most recently concluded Test Period ending as of August 31, calculated on a pro forma basis as if such LIBOR Strike Rate were applicable to such Test Period and as if the Principal Indebtedness and the Mezzanine Loan Principal Indebtedness throughout such Test Period were equal to the Principal Indebtedness and the Mezzanine Loan Principal Indebtedness on (i) the Modification Closing Date (after the required $10,000,000 principal payment due on the Modification Closing Date and any other voluntary payment of principal on the Modification Closing Date, if any), with respect to the Extension Interest Rate Cap Agreement required under Section 4.12 of the Third Omnibus Amendment, or (ii) upon the commencement of the applicable Extension Term (after taking into consideration any principal payment made in connection with the applicable Extension Term permitted under the Third Omnibus Amendment), with respect to each Extension Interest Rate Cap Agreement provided pursuant to Section 2.1(b)(3) of the Third Omnibus Amendment, in each case excluding from the determination of DSCR for such Test Period any principal prepayment and any reduction in Operating Income and Operating Expenses as a result of any Mortgaged Property previously released from the Collateral.”
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LIBOR Strike Rate. For any Distribution Date, the applicable LIBOR Strike Rate set forth in Schedule VII hereto for such Distribution Date.
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LIBOR Strike Rate. With respect to the Class 2-A-1 and each Distribution Date to and including the Distribution Date in February 2009, 4.40%. With respect to the Class 2-A-2 and each Distribution Date to and including the Distribution Date in June 2011, 4.15%.
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Related to LIBOR Strike Rate

  • Strike Rate means a fixed rate of interest under the Cap Agreement that does not exceed the Original Strike Rate. Rate Cap Agreement and Rate Cap Agreement Reserve Fund RIDER TO MULTIFAMILY LOAN AND SECURITY AGREEMENT TRADE NAMES (Revised 3-1-2014) The following changes are made to the Loan Agreement which precedes this Rider:

  • LIBOR Floor means 0.00%.

  • USD-LIBOR-BBA As defined in the Swap Agreement in the Annex to the 2000 ISDA Definitions.

  • LIBOR has the meaning specified in the definition of Eurodollar Rate.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • LIBOR Spread means, at any date or any period of determination, the LIBOR Spread that would be in effect on such date or during such period pursuant to the chart set forth in Section 2.22 based on the rating of the Borrower's senior unsecured long-term debt.

  • USD LIBOR means the London interbank offered rate for U.S. dollars.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • LIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period, the LIBO Screen Rate at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period; provided that if the LIBO Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”) then the LIBO Rate shall be the Interpolated Rate.

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).

  • LIBOR Rate means a rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%) determined by the Administrative Agent pursuant to the following formula: LIBOR Rate = LIBOR

  • LIBOR Index Rate means, for any Interest Period, the rate per annum (rounded upwards, if necessary, to the next higher one-sixteenth of one percent) for deposits in U.S. Dollars for delivery on the first day of and for a period equal to such Interest Period in an amount equal or comparable to the principal amount of the Eurodollar Loan scheduled to be made by each Lender as part of such Borrowing, which appears on the Applicable Telerate Page as of 11:00 a.m. (London, England time) on the day two (2) Business Days before the commencement of such Interest Period.

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • LIBOR Interest Period means, with respect to a LIBOR Advance, a period of one, two, three or six months (to the extent that periods in excess of three months are generally available from the Lenders), as selected in advance by the Borrower.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin I 52.50 II 62.50 III 72.50 IV 82.50 V 92.50

  • Adjusted LIBOR means, for any Borrowing of Eurodollar Loans, a rate per annum determined in accordance with the following formula: Adjusted LIBOR = LIBOR

  • Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of:

  • EURIBOR Rate has the meaning assigned thereto in the definition of “Eurocurrency Rate”.

  • Eurocurrency Base Rate means, with respect to a Eurocurrency Rate Advance for the relevant Interest Period:

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

  • Adjusted Eurodollar Rate means for any Interest Period with respect to any Eurodollar Loan, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to (a) the Eurodollar Rate for such Interest Period multiplied by (b) the Statutory Reserves.

  • LIBOR Screen Rate means the LIBOR quote on the applicable screen page the Administrative Agent designates to determine LIBOR (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time).