Lower Collar definition

Lower Collar. With respect to each Distribution Date, the applicable per annum rate set forth under the heading "1ML Strike Lower Collar" in the One-Month LIBOR Corridor Table (set forth on Exhibit H).
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Lower Collar. With respect to each Distribution Date, the applicable per annum rate set forth under the heading "Lower Collar" in the One-Month LIBOR Cap Table herein.
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Lower Collar has the meaning assigned to such term in Section 3.1(a).
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Examples of Lower Collar in a sentence

  • The “Final Cash Consideration” will be the Base Cash Consideration plus (1) the amount, if any, by which Final Net Working Capital exceeds the Upper Collar Amount, minus (2) the amount, if any, by which the Lower Collar Amount exceeds Final Net Working Capital, plus (3) Final Closing Cash, minus (4) Final Closing Indebtedness, minus (5) Final Seller Transaction Expenses, minus (6) Final Taxes Payable.

  • For the avoidance of doubt, no item shall be double counted in the calculation of Net Working Capital, Cash, Indebtedness or Company Transaction Expenses and there shall be no adjustment at Closing under Section 1.3(a)(iv) to Base Purchase Price if the Estimated Net Working Capital is (A) equal to or greater than the Estimated NWC Lower Collar Target and (B) equal to or less than the Estimated NWC Upper Collar Target.

  • If the Closing Operating Working Capital is between the Upper Collar Amount and the Lower Collar Amount (the “Working Capital Collar”), then there shall be no Purchase Price adjustment.

  • If the Closing Operating Working Capital is less than $3,272,000 (the “Lower Collar Amount”), the Purchase Price will be decreased by an amount equal to (i) the Lower Collar Amount, less (ii) the Closing Operating Working Capital (the “Purchase Price Decrease Amount”).

  • If the Estimated Net Working Capital is less than $18,000,000 (the "Lower Collar"), Lear shall cause the applicable Seller(s) to pay to the applicable Buyer(s) at Closing a sum equal to the amount by which the Estimated Net Working Capital is less than the Lower Collar.

  • Lower Collar $93.53 Upper Collar $114.32 If the share price at closing is outside of the collar, there will be an impact on purchase price.

  • Acknowledgement that the employee remains employed at will and that the telecommuting agreement does not constitute a contract of employment.

  • It TABLE 6 OCCUPATIONAL COMPOSITION- BY COMMUNITY CATEGORY, FOR URBAN SETTLEMENTS, 1961 OCCUPATIONAL DISTRIBUTION (%)t __ _ _ _ _ __ - OCCUPATIONAL Upper Lower STATUS SCORES White White Upper Lower Collar Collar Manual MIanual Observed Predicted COMMUNITY CATEGORY (1) (2) (3) (4) Total (5) (6) Development towns .

  • Upon determination of the Final Adjustment Statement pursuant to Section 2.3.4, a dollar-one adjustment to the Purchase Price shall be made and paid by the applicable Party to the other Party pursuant to the terms hereof with regard to the Closing Working Capital only if the Closing Working Capital exceeds the Working Capital Top Collar or the Closing Working Capital is less than the Working Capital Lower Collar, as applicable.

  • Although I recognise that for a credit card economy to flourish there must be economic incentives [i.e. profit] for businesses to issue and accept credit cards, experience in the US has shown that fiscally uneducated and irresponsible consumers will get over their head in debt when presented with a ―buy now—pay later‖ product.


More Definitions of Lower Collar

Lower Collar means the Target Working Capital minus One Million Dollars ($1,000,000).
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Lower Collar means the amount equal to the Target Net Working Capital Amount minus $2,000,000.
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Lower Collar in the schedule to the related Cap Contract, (ii) an amount equal to the lesser of (x) the related Cap Contract Notional Balance for such Distribution Date and (y) the outstanding Certificate Principal Balance of the related classes of Certificates and (iii) the number of days in such Accrual Period, divided by 360. If a payment is made to the Issuing Entity under a Cap Contract and the Trustee is required to distribute excess amounts to the holders of the Class C Certificates as described above, information regarding such distribution will be included in the monthly statement made available on the Trustee's website pursuant to Section 4.05 hereof.
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Lower Collar has the meaning set forth in Section 1.13(a).
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Lower Collar. With respect to each Distribution Date, the xxxxxxxxxx xxx xxxxx xxte set forth under the heading "Lower Collar" in the One-Month LIBOR Cap Table herein.
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Lower Collar has the meaning set forth in Section 2.5(e).
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Related to Lower Collar

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Risk Weighted Assets means the risk weighted assets or total risk exposure amount, as calculated by the Company in accordance with the Capital Regulations applicable to the Regulatory Group as at that point in time.

  • Adjustable Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • 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:

  • Current Portfolio At any time, the portfolio of Collateral Obligations and Cash and Eligible Investments representing Principal Proceeds (determined in accordance with Section 1.3 to the extent applicable), then held by the Issuer.

  • LIBOR Total Spread means, for each Interest Period: (A) three-fourths of one percent (3/4 of 1%); (B) minus (or plus) the weighted average margin, for such Interest Period, below (or above) the London interbank offered rates, or other reference rates, for six-month deposits, in respect of the Bank’s outstanding borrowings or portions thereof allocated by the Bank to fund single currency loans or portions thereof made by it that include the Loan; as reasonably determined by the Bank and expressed as a percentage per annum.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) 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.

  • Mid-Market Swap Rate means for any Reset Period the mean of the bid and offered rates for the fixed leg payable with a frequency equivalent to the Original Mid-Swap Rate Basis (calculated on the day count basis customary for fixed rate payments in the Specified Currency as determined by the Calculation Agent) of a fixed-for-floating interest rate swap transaction in the Specified Currency which transaction (i) has a term equal to the relevant Reset Period and commencing on the relevant Reset Date, (ii) is in an amount that is representative for a single transaction in the relevant market at the relevant time with an acknowledged dealer of good credit in the swap market and (iii) has a floating leg based on the Mid-Swap Floating Leg Benchmark Rate for the Mid-Swap Maturity (as specified in the applicable Final Terms) (calculated on the day count basis customary for floating rate payments in the Specified Currency as determined by the Calculation Agent);

  • Weighted Average Floating Spread means, as of any date of determination, the number, expressed as a percentage, obtained by summing the products obtained by multiplying, in the case of each Floating Rate Portfolio Investment included in the Borrowing Base, on an annualized basis, the Spread of such Floating Rate Portfolio Investments, by the outstanding principal balance of such Floating Rate Portfolio Investments as of such date and dividing such sum by the aggregate outstanding principal balance of all such Floating Rate Portfolio Investments and rounding the result up to the nearest 0.01%.

  • Adjusted Net Maximum Mortgage Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed-Rate Mortgage Loan) as of the first day of the month preceding the month in which the related Distribution Date occurs minus the sum of (i) the Trustee Fee Rate and (ii) the Servicing Fee Rate.

  • ARM Loan A Mortgage Loan, if any, the Mortgage Interest Rate of which is subject to periodic adjustment in accordance with the terms of the related Mortgage Note.

  • Periodic Rate Floor With respect to each Adjustable Rate Mortgage Loan, the provision of each Mortgage Note which provides for an absolute maximum amount by which the Mortgage Interest Rate therein may decrease on an Interest Rate Adjustment Date below the Mortgage Interest Rate previously in effect. Person: Any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof.

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to 5.50 years.

  • Adjustable Rate Mortgage Loan A Mortgage Loan serviced pursuant to this Agreement under which the Mortgage Interest Rate is adjusted from time to time in accordance with the terms and provisions of the related Mortgage Note.

  • Weighted Average Spread means, as of any day, the number expressed as a percentage equal to (i) the Aggregate Funded Spread divided by (ii) the Aggregate Eligible Collateral Obligation Amount (excluding any interest that has been deferred and capitalized on any Deferrable Collateral Obligation).

  • Call Rate means, if the call option has been exercised with respect to the reset rate notes, the rate of interest that is either: • if the reset rate notes did not have at least one related swap agreement in effect during the previous reset period, the floating rate applicable for the most recent reset period during which the Failed Remarketing Rate was not in effect; or • if the reset rate notes had one or more swap agreements in effect during the previous reset period, the weighted average of the floating rates of interest that were due to the related Swap Counterparties from the trust during the previous reset period. The Call Rate will continue to apply for each reset period while the holder of the call option retains the reset rate notes.

  • Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Closing Level in respect of such day.

  • Weighted Average Net Mortgage Rate The weighted average of the Net Mortgage Rates of the Mortgage Loans, weighted on the basis of the Stated Principal Balances thereof as of the close of business on the first day of the calendar month preceding the month in which such Distribution Date occurs.

  • ABR Spread or "Facility Fee Rate" as the case may be, based upon the Leverage Ratio for the Rolling Period ending on the most recent Quarterly Date with respect to which the Administrative Agent shall have received the financial statements and other information (the "Current Information") required to be delivered to the Administrative Agent pursuant to Section 6.01(a) or Section 6.01(b) and the compliance certificate required to be delivered pursuant to Section 6.01(c) in respect of such financial statements: Eurodollar Facility Fee Leverage Ratio Spread ABR Spread Rate -------------- ------ ---------- ---- Less than 1.00 to 1.00 1.000% 0.000% 0.250% ---------------------------------------------------------------------------------------------- Greater than or equal to 1.00 to 1.00 1.125% 0.000% 0.375% but less than 1.50 to 1.00 ---------------------------------------------------------------------------------------------- Greater than or equal to 1.50 to 1.00 1.250% 0.250% 0.500% but less than 2.25 to 1.00 ---------------------------------------------------------------------------------------------- Greater than or equal to 2.25 to 1.00 1.500% 0.500% 0.500% but less than 2.75 to 1.00 ---------------------------------------------------------------------------------------------- Greater than or equal to 2.75 to 1.00 1.750% 0.750% 0.500% Each change in the Applicable Rate based on a change in the Current Information shall become effective on the date on which Current Information is delivered to the Lenders pursuant to Section 6.01 (but in any event not later than the 45th day after the end of each of the first three quarterly periods of each Fiscal Year or the 90th day after the end of each Fiscal Year, as the case may be) and shall remain in effect until the next change to be effected pursuant to this paragraph. If any Current Information is not delivered within the time periods specified in Section 6.01, then, until such Current Information is delivered, the Leverage Ratio as of the end of the Rolling Period that would have been covered thereby shall, for the purposes of this definition, be deemed to be greater than or equal to 2.75 to 1.00. Furthermore, and notwithstanding any other provision to the contrary, for the period from the Effective Date until the date on which the Current Information for the Rolling Period ending March 31, 2004 is delivered to the Lenders, the Leverage Ratio as at the end of each Rolling Period during such period shall, for the purposes of this definition, be deemed to be greater than or equal to 1.50 to 1.00 but less than 2.25 to 1.00.

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Replacement Reference Rate means a reference rate which is:

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment (without regard to usage) at such time as set forth in the Pricing Schedule.

  • 5-year Mid-Swap Rate means, in relation to a Reset Interest Period and the Reset Rate of Interest Determination Date in relation to such Reset Interest Period:

  • Underlying Assets With respect to a Loan, any property or other assets designated and pledged as collateral to secure repayment of such Loan, including, without limitation, to the extent provided for in the relevant Underlying Instruments, a pledge of the stock, membership or other ownership interests in the related Obligor and all Proceeds from any sale or other disposition of such property or other assets.

  • Ceiling Amount has the meaning assigned to such term in Section 9.10(a).