Marginal Spread definition

Marginal Spread means the number of basis points determined by reference to the following chart; provided, however, that if any event that would give rise to an adjustment to the Conversion Rate under Section 12.05 occurs between September 26, 2014 and the final day of the Averaging Period, the Issuer will adjust the 5 Day Average VWAP as applied to the table below using an adjustment factor inverse to the factor that would have been applicable to the adjustment to the Conversion Rate that would have been required under Section 12.05 had the relevant event occurred after the Conversion Rate had been established, applied by the Issuer in a good faith manner to the applicable values: Greater than $8.62 0 basis points Less than or equal to $8.62, but greater than $8.00 50 basis points Less than or equal to $8.00, but greater than $7.50 137.5 basis points Less than or equal to $7.50, but greater than $7.00 200 basis points Less than or equal to $7.00, but greater than $6.50 250 basis points Less than or equal to $6.50, but greater than $6.00 287.5 basis points Less than or equal to $6.00 350 basis points
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Examples of Marginal Spread in a sentence

  • The interest rate applicable to the Notes shall equal a fixed rate determined by the Calculation Agent as the sum of (a) the 5-Year Swap Rate on the second New York Business Day preceding the Issue Date, (b) 195 basis points and (c) the Marginal Spread.

  • The interest rate applicable to the Notes before taking into account the Marginal Spread shall be determined by the Calculation Agent no later than 6:00 p.m. (New York time) on the second New York Business Day preceding the Issue Date and shall equal a fixed rate equal to the 5-Year Swap Rate on the second New York Business Day preceding the Issue Date plus 195 basis points.

  • The interest rate applicable to the Notes taking into account the Marginal Spread shall be determined by the Calculation Agent no later than 6:00 p.m. (New York time) on the New York Business Day following the final Trading Day of the Averaging Period upon receipt of an Officer’s Certificate of the Issuer certifying the 5 Day Average VWAP and shall equal a fixed rate equal to the 5-Year Swap Rate on the second New York Business Day preceding the Issue Date plus 195 basis points plus the Marginal Spread.

Related to Marginal Spread

  • 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).

  • 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%.

  • Applicable Spread means, in connection with the Maximum Rate for any Rate Period (and subject to adjustment as described in the definition of Maximum Rate) (i) when there is not a Failed Remarketing Condition, 200 basis points (2.00%), and (ii) while a Failed Remarketing Condition has occurred or is continuing, 200 basis points (2.00%) (up to 59 days of a continued Failed Remarketing Condition), 225 basis points (2.25%) (sixty (60) days but fewer than ninety (90) days of a continued Failed Remarketing Condition), 250 basis points (2.50%) (ninety (90) days but fewer than 120 days of a continued Failed Remarketing Condition), 275 basis points (2.75%) (120 days but fewer than 150 days of a continued Failed Remarketing Condition), 300 basis points (3.00%) (150 days but fewer than 180 days of a continued Failed Remarketing Condition), and 400 basis points (4.00%) (180 days or more of a continued Failed Remarketing Condition); provided that, if at any time when the Applicable Spread is 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) and the Failed Remarketing Condition no longer exists due to the successful remarketing of all Purchased VRDP Shares, then such Applicable Spread of 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) will continue to be the Applicable Spread in connection with determining the Maximum Rate in effect for each Rate Period commencing with the first Subsequent Rate Period after the Failed Remarketing Condition no longer exists through and including the first Subsequent Rate Period ending on or after the 45th day after the day the Failed Remarketing Condition no longer exists; provided, further, that (i) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 225 basis points (2.25%), the date such new Failed Remarketing Condition occurs will be deemed to be the 60th day of a continued Failed Remarketing Condition, (ii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 250 basis points (2.50%), the date such new Failed Remarketing Condition occurs will be deemed to be the 90th day of a continued Failed Remarketing Condition, (iii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 275 basis points (2.75%), the date such new Failed Remarketing Condition occurs will be deemed to be the 120th day of a continued Failed Remarketing Condition, (iv) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 300 basis points (3.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 150th day of a continued Failed Remarketing Condition and (v) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 400 basis points (4.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 180th day of a continued Failed Remarketing Condition, in each case, solely for purposes of determining the Applicable Spread.

  • Marginal Value means the difference between actual taxable value and base taxable value.

  • 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.