Market Constant definition

Market Constant means the highest of (a) the current annual interest rate on the Loan adjusted to reflect amortization on a thirty (30) year schedule, (b) 7.50% and (c) the Treasury Rate plus 200 basis points adjusted to reflect amortization on a thirty (30) year schedule.
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Market Constant means the factor, determined by the Administrative Agent from time to time on not less than 30 days' prior written notice to the Borrower and the Lenders, by reference to a standard level constant payment table for a fully amortizing loan with a maturity of at least 20 years' (but not more than 25 years') duration, for use in calculating the Borrowing Base with reference to Eligible Real Estate. In determining any Market Constant for any Mortgaged Property or any changes therein (i) the Administrative Agent shall make such determinations (other than the initial determinations set forth on Annex III) only pursuant to instructions from, or with the consent of, the Required Lenders, and (ii) no Market Constant shall ever be less than 8% nor greater than 12%. The initial Market Constant factors for the respective Mortgaged Properties comprising the Eligible Real Estate as of the date hereof are set forth on Annex III. Market Constant factors for the respective Mortgaged Properties comprising Eligible Real Estate may be redetermined as of May 1 and as of November 1 of each subsequent full or partial calendar year during the pendency of this Agreement.
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Market Constant means the factor determined by the Administrative Agent by reference to a standard level constant payment table for a fully amortizing loan with a maturity of 25 years' duration based upon an assumed per annum interest rate equal to the ten-year U.S. Treasury constant maturities interest rate average, as announced weekly in Federal Reserve Statistical Release H.15, plus one and three-quarters percentage points (1.75%). In the event that the Total Outstandings shall at any time exceed the lesser of the amounts described in (a) and (b) above, the Company agrees to provide within 30 days sufficient additional collateral (subject to all the requirements of Sections 7 and 9 hereof) such as to cause the Total Outstandings not to exceed such amount or to make such repayment of the Loan as may be required to reduce the Total Outstandings to the lesser of such amounts.
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Examples of Market Constant in a sentence

  • MARKET CONSTANT: For purposes of each Loan, the Market Constant shall equal the greatest of (x) 7.50%, (y) the current annual interest rate on the Loan adjusted to reflect 30 year amortization and (z) 10 year U.S. Treasury plus 2.00% adjusted to reflect 30 year amortization.

  • It also presents species-level results by state for employment, sales, value added, and income for the two scenarios (Market Constant and Market Dynamic) used in the impact model.

  • Clarkson Research., Steve Gorden (2017), “Shipbuilding Market: Constant Change,” Clarkson Research; KIET (2018), Pursuit of innovative growth of domestic shipbuilding industry, Industry and Economy Analysis.

  • Ayco’s services will be available only to International Paper employees impacted by the change.

  • RATIO: MINIMUM DEBT SERVICE COVERAGE For purposes of each Extension Option: 1.25x RATIO ASSUMPTIONS: LOAN DEBT SERVICE: Defined as the product of the Market Constant and the outstanding Loan balance.

  • The house I was selling in Paddington was already under Sold For $140,000 Above Reserve Despite Downfalling Unit Market Constant communication with our database of riverfront buyers produced a bidding war for the ages Brad and Lesley, the sellers of this property, previously bought it from me at auction.


More Definitions of Market Constant

Market Constant means, at any date of calculation, the higher of (a) the annual interest rate on the Loan for the Interest Accrual Period in which such date occurs, and (b) 8.0%.
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Market Constant means the higher of (a) the current annual interest rate on the Loan and (b) 8.00%.
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Market Constant has the meaning set forth in Section 1.1.
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Market Constant means the factor determined by the Administrative Agent by reference to a standard level constant payment table for a fully amortizing loan with a maturity of 25 years' duration based upon an assumed per annum interest rate equal to the greater of (i) the ten-year U.S. Treasury constant maturities interest rate average, as announced weekly in Federal Reserve Statistical Release H.15, plus one and three-quarters percentage points (1.75%), or (ii) seven percent (7%). In the event that the Total Outstandings shall at any time exceed the Maximum Availability, the Company agrees to provide within 30 days sufficient additional collateral (subject to all the requirements of Sections 7 and 9 hereof) such as to cause the Total Outstandings not to exceed the Maximum Availability or to make such repayment of the Loan as may be required to reduce the Total Outstandings to not more than the Maximum Availability. The parties agree that the Company's compliance with the 65.18% ratio temporarily permitted by the terms of this Section 1.1 shall also constitute compliance during the same time period with the 65% ratio otherwise required by the terms of Sections 9.8(c) and 9.9(e) of this Agreement.
Sample 1

Related to Market Constant

  • U.S. Treasury Note Rate on any date means (i) the yield as calculated by reference to the bid price quotation of the actively traded, current coupon Treasury Note with a maturity most nearly comparable to the length of the related Dividend Period, as such bid price quotation is published on the Business Day immediately preceding such date by the Federal Reserve Bank of New York in its Composite 3:30 P.M. Quotations for U.S. Government Securities report for such Business Day, or (ii) if such yield as so calculated is not available, the Alternate Treasury Note Rate on such date. "Alternate Treasury Note Rate" on any date means the yield as calculated by reference to the arithmetic average of the bid price quotations of the actively traded, current coupon Treasury Note with a maturity most nearly comparable to the length of the related Dividend Period, as determined by the bid price quotations as of any time on the Business Day immediately preceding such date, obtained from at least three recognized primary U.S. Government securities dealers selected by the Auction Agent.

  • U.S. Treasury Rate means, with respect to any Remaining Distribution Amount, a rate determined one Business Day prior to the Optional Repurchase Distribution Date that is equal to the U.S. Treasury rate on such date (determined by reference to Bloomberg Financial Markets Commodities News) with a maturity equal to the period from such Optional Repurchase Distribution Date to the Applicable Distribution Date with respect to such Remaining Distribution Amount (or, if such maturity is unavailable, such rate shall be determined by linear interpolation using the U.S. Treasury rates with the two closest maturities to such period).

  • U.S. Treasury Bill Rate on any date means (i) the Interest Equivalent of the rate on the actively traded Treasury Bill with a maturity most nearly comparable to the length of the related Dividend Period, as such rate is made available on a discount basis or otherwise by the Federal Reserve Bank of New York in its Composite 3:30 P.M. Quotations for U.S. Government Securities report for such Business Day, or (ii) if such yield as so calculated is not available, the Alternate Treasury Bill Rate on such date. "Alternate Treasury Bill Rate" on any date means the Interest Equivalent of the yield as calculated by reference to the arithmetic average of the bid price quotations of the actively traded Treasury Bill with a maturity most nearly comparable to the length of the related Dividend Period, as determined by bid price quotations as of any time on the Business Day immediately preceding such date, obtained from at least three recognized primary U.S. Government securities dealers selected by the Auction Agent.

  • Treasury Index Rate means the average yield to maturity for actively traded marketable fixed interest rate U.S. Treasury Securities having the same number of 30-day periods to maturity as the length of the applicable Dividend Period, determined, to the extent necessary, by linear interpolation based upon the yield for such securities having the next shorter and next longer number of 30-day periods to maturity treating all Dividend Periods with a length greater than the longest maturity for such securities as having a length equal to such longest maturity, in all cases based upon data set forth in the most recent weekly statistical release published by the Board of Governors of the Federal Reserve System (currently in H.15(519)); provided, however, if the most recent such statistical release shall not have been published during the 15 days preceding the date of computation, the foregoing computations shall be based upon the average of comparable data as quoted to the Corporation by at least three recognized dealers in U.S. Government Securities selected by the Corporation.

  • Five-year U.S. Treasury Rate means, as of any Reset Dividend Determination Date, as applicable, (i) an interest rate (expressed as a decimal) determined to be the per annum rate equal to the arithmetic mean of the five most recent daily yields to maturity for U.S. Treasury securities with a maturity of five years from the next Reset Date and trading in the public securities markets or (ii) if there is no such published U.S. Treasury security with a maturity of five years from the next Reset Date and trading in the public securities markets, then the rate will be determined by interpolation between the arithmetic mean of the five most recent daily yields to maturity for each of the two series of U.S. Treasury securities trading in the public securities market, (A) one maturing as close as possible to, but earlier than, the Reset Date following the next succeeding Reset Dividend Determination Date, and (B) the other maturity as close as possible to, but later than, the Reset Date following the next succeeding Reset Dividend Determination Date, in each case as published in the most recent H.15. If the Five-year U.S. Treasury Rate cannot be determined pursuant to the methods described in clauses (i) or (ii) above, then the Five-year U.S. Treasury Rate will be the same interest rate determined for the prior Reset Dividend Determination Date.

  • Comparable Treasury Issue means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes.

  • Ramp Rate is the applicable Ramp Rate as stated in Section 8 of Schedule A.

  • Constant Maturity Swap Rate means: (1) the rate for U.S. dollar swaps with the designated maturity specified in the applicable pricing supplement, expressed as a percentage, which appears on the Reuters Screen (or any successor service) ISDAFIX1 Page as of 11:00 A.M., New York City time, on the particular Interest Determination Date; or (2) if the rate referred to in clause (1) does not appear on the Reuters Screen (or any successor service) ISDAFIX1 Page by 2:00 P.M., New York City time, on such Interest Determination Date, a percentage determined on the basis of the mid-market semiannual swap rate quotations provided by the reference banks (as defined below) as of approximately 11:00 A.M., New York City time, on such Interest Determination Date, and, for this purpose, the semi-annual swap rate means the mean of the bid and offered rates for the semi-annual fixed leg, calculated on a 30/360 day count basis, of a fixed-for-floating U.S. dollar interest rate swap transaction with a term equal to the designated maturity

  • Comparable Government Bond Rate means the price, expressed as a percentage (rounded to three decimal places, with 0.0005 being rounded upwards), at which the gross redemption yield on the Notes to be redeemed, if they were to be purchased at such price on the third Business Day prior to the date fixed for redemption, would be equal to the gross redemption yield on such Business Day of the Comparable Government Bond on the basis of the middle market price of the Comparable Government Bond prevailing at 11:00 a.m. (London time) on such Business Day as determined by an Independent Investment Banker.

  • Turnover Rate means the period of time (usually in hours) required to circulate a volume of water equal to the pool or spa capacity.

  • Treasury Rate means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.

  • Eleventh District Cost of Funds Rate means: (1) the rate equal to the monthly weighted average cost of funds for the calendar month immediately preceding the month in which the particular Interest Determination Date falls as set forth under the caption “11th District” on the display on Moneyline Telerate (or any successor service) on page 7058 (or any other page as may replace the specified page on that service) (“Moneyline Telerate Page 7058”) as of 11:00 A.M., San Francisco time, on that Interest Determination Date; or (2) if the rate referred to in clause (1) does not so appear on Moneyline Telerate Page 7058, the monthly weighted average cost of funds paid by member institutions of the Eleventh Federal Home Loan Bank District that was most recently announced (the “Eleventh District Index”) by the Federal Home Loan Bank of San Francisco as the cost of funds for the calendar month immediately preceding that Interest Determination Date; or (3) if the Federal Home Loan Bank of San Francisco fails to announce the Eleventh District Index on or prior to the particular Interest Determination Date for the calendar month immediately preceding that Interest Determination Date, the Eleventh District Cost of Funds Rate in effect on the particular Interest Determination Date.

  • T-Bill Rate means, for any Quarterly Floating Rate Period, the average yield expressed as a percentage per annum on three-month Government of Canada Treasury Bills, as reported by the Bank of Canada, for the most recent treasury bills auction preceding the applicable Floating Rate Calculation Date.

  • Mid-Swap Rate means, in relation to a Reset Determination Date and subject to Condition 3(b)(ii), either:

  • 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:

  • Net Yield means, with respect to any Monthly Period, Portfolio Yield with respect to such Monthly Period minus the Base Rate with respect to such Monthly Period.

  • Benchmark Rate means, with respect to any Redemption Date, the rate per annum equal to the annual equivalent yield to maturity or interpolated maturity of the Comparable Benchmark Issue (as defined below), assuming a price for the Comparable Benchmark Issue (expressed as a percentage of its principal amount) equal to the Comparable Benchmark Price for such Redemption Date.

  • Maintenance Margin means the minimum amount of money required in your Trading Account as specified on the Trading Platform in order to keep a Transaction open on the Trading Platform.

  • Base CD Rate means the sum of (a) the Three-Month Secondary CD Rate multiplied by the Statutory Reserve Rate plus (b) the Assessment Rate.

  • Recovery Rate means, in relation to any UK Four institution the percentage of the original face value of senior unsecured debt obligations of the affected UK Four institution, as derived by the Calculation Agent from either the ISDA Auction Final Price or the Market Value.

  • Reference Bond Rate means, with respect to any date of redemption, the rate per annum equal to the annual or semi-annual yield (as the case may be) to maturity or interpolated yield to maturity (on the relevant day count basis) of the Reference Bond, assuming a price for the Reference Bond (expressed as a percentage of its nominal amount) equal to the Reference Bond Price for such date of redemption;

  • 5-year Mid-Swap Rate Quotations means the arithmetic mean of the bid and offered rates for the annual fixed leg (calculated on a 30/360 day count basis) of a fixed-for-floating euro interest rate swap transaction which:

  • Applicable Treasury Rate means the yield to maturity at the time of computation of United States Treas- ury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become publicly available at least two Business Days prior to the redemption date (or, if such statistical release is not so published or available or such information is not available thereon, any publicly available source of similar market data selected by the Company in good faith)) most nearly equal to the period from the redemption date to April 1, 2021; provided, however, that if the period from the redemption date to April 1, 2021 is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Applicable Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from the redemption date to such applicable date is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used.

  • Money Market Yield means a yield (expressed as a percentage) calculated in accordance with the following formula: Money Market Yield = D x 360 x 100 360 – (D x M) where “D” refers to the applicable per annum rate for commercial paper quoted on a bank discount basis and expressed as a decimal, and “M” refers to the actual number of days in the applicable Interest Reset Period.

  • CPI Daily Inflation Reference Index means (A) in relation to the first day of any given month, the CPI Monthly Reference Index of the third month preceding such month, and (B) in relation to a day (D) (other than the first day) in any given month (M), the linear interpolation of the CPI Monthly Reference Index pertaining respectively to the third month preceding such month (M - 3) and the second month preceding such month (M - 2) calculated in accordance with the following formula:

  • Auction Final Price means the relevant auction final price that may be published by ISDA or any administrator of any auction coordinated by ISDA from time to time and that would be applicable to the senior, unsecured debt obligations issued or guaranteed by the relevant