Negative Carry definition

Negative Carry means in relation to any Financial Assistance the negative Cost of Carry (if any) incurred by EFSF and allocated by EFSF to the funding of that Financial Assistance.
View Source
Negative Carry means in relation to any Financial Assistance the negative Cost of Carry (if any) incurred by ESM and allocated by ESM to the funding of that Financial Assistance in accordance with the ESM Pricing Policy.
View Source
Negative Carry means, with respect to any Prefunding Date, a percentage equal to (i) for the amount on deposit in the Prefunding Account by the Company, (a) the money market yield of the rate quoted on a discount basis for commercial paper having a thirty (30) day maturity, as made available and subse quently published by the Board of Governors of the Federal Reserve System in H.15(519) under the heading "Commercial Paper", plus (b) 1.40%, minus (c) the Targeted Interest Rate; (ii) for the amount on deposit in the Prefunding Account funded by the Bank Investors, (a) the LIBOR Rate, (b) plus 1.40%, minus (c) the Targeted Interest Rate.
View Source

Examples of Negative Carry in a sentence

  • On each Payment Date, the Servicer will instruct the Indenture Trustee to withdraw from the Negative Carry Account and deposit into the Collection Account an amount equal to the Negative Carry Amount for such Collection Period.

  • In addition, on the Payment Date following the calendar month in which the last day of the Funding Period occurs, the Servicer will instruct the Indenture Trustee to withdraw from the Negative Carry Account the amount remaining on deposit in the Negative Carry Account (after giving effect to all withdrawals from the Negative Carry Account on that Payment Date) and deposit it into the Collection Account for application as Available Funds for such Payment Date.

  • If the amount on deposit in the Negative Carry Account on any Payment Date (after giving effect to the withdrawal therefrom of the Negative Carry Amount for such Payment Date) is greater than the Required Negative Carry Account Balance, the excess will be released to the Seller.

  • On or before each Payment Date, the Indenture Trustee shall make all withdrawals and deposits to the Collection Account, Note Distribution Account, Reserve Account, the Pre-Funding Account, if any, and the Negative Carry Account, if any, and shall make all distributions to Certificateholders in accordance with Sections 5.06 and 5.07 of the Sale and Servicing Agreement.

  • On the Closing Date, the Depositor shall deposit in the Negative Carry Account $0.00 (the “Negative Carry Account Initial Deposit”) from the net proceeds of the sale of the Notes.

  • Subject to the proviso set forth in Section 5.1(a)(v), on the Closing Date, the Seller shall deposit the Negative Carry Account Initial Deposit into the Negative Carry Account.

  • On the Payment Date on which the Optional Acquisition is to be exercised, the Indenture Trustee shall transfer any amounts on deposit in the Reserve Account, the Acquisition Account and the Negative Carry Account into the Collection Account.

  • On the Payment Date on which the Optional Redemption is to be exercised, the Indenture Trustee shall transfer any amounts on deposit in the Reserve Account, the Acquisition Account and the Negative Carry Account into the Collection Account.

  • Any Certificateholder may, at its option, deposit funds into the Negative Carry Account on any date.

  • On the Closing Date, the Seller shall deposit the Negative Carry Account Initial Deposit into the Negative Carry Account.


More Definitions of Negative Carry

Negative Carry the meaning specified in the Security Agreement.
View Source
Negative Carry means, as of any date, with respect to the daily balance on deposit in the Disbursement Account during the period ending on such date an amount equal to the difference between interest calculated at a rate per annum equal to the Note Interest Rate on such balance and interest or other income accrued during such period (but only to the extent that such interest or other income is less than the Note Interest Rate) on Permitted Investments in the Disbursement Account.
View Source
Negative Carry means, with respect to any Distribution Date, the excess if any, of (i) the product of (A) the cost of funds with respect to all Advances accrued during the Accrual Period ending on such Distribution Date, i.e., (x) with respect to Base Rate Advances, the Federal Funds Rate, (y) with respect to Eurodollar Advances, LIBOR and (z) with respect to Commercial Paper Rate Advances, the cost of obtaining funds in the commercial paper market to fund such advances, and (B) the Average Daily Funded Percentage with respect to such Distribution Date over (ii) all Designated Series Investment Earnings with respect to such Distribution Date and with respect to all Designated Series.
View Source
Negative Carry has the meaning given to the term "Negative Carry" in the PSI LM Facility Agreement.
View Source
Negative Carry means, with respect to any Prefunding Date, a percentage equal to (i) for the amounts in the Prefunding Account deposited by VFCC, (a) the money market yield of the rate quoted on a discount basis for commercial paper having a 30 day maturity, as made available and subsequently published by the Board of Governors of the Federal Reserve System in H.15(519) under the heading "commercial paper," plus (b) 1.425%, minus (c) the Targeted Interest Rate and (ii) for the amounts in the Prefunding Account funded by the Investors, (a) the Adjusted LIBOR Rate, (b) plus 1.425%, minus (c) the Targeted Interest Rate.
View Source

Related to Negative Carry

  • Negative Carry Amount shall have the meaning specified in subsection 4.10(a) of the Agreement.

  • Permitted Receivables Net Investment means the aggregate cash amount paid by the purchasers under any Permitted Receivables Financing in the form of a factoring program in connection with their purchase of accounts receivable and customary related assets or interests therein, as the same may be reduced from time to time by collections with respect to such accounts receivable and related assets or otherwise in accordance with the terms of such Permitted Receivables Financing (but excluding any such collections used to make payments of commissions, discounts, yield and other fees and charges incurred in connection with any Permitted Receivables Financing in the form of a factoring program which are payable to any Person other than the Borrower or a Restricted Subsidiary).

  • Permitted Receivables Related Assets means any other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving receivables similar to Receivables and any collections or proceeds of any of the foregoing.

  • Required Collateral Fund Balance As of any date of determination, an amount equal to the aggregate of all amounts previously required to be deposited in the Collateral Fund pursuant to Section 2.02(d) (after adjustment for all withdrawals and deposits pursuant to Section 2.02(e)) and Section 2.03(b) (after adjustment for all withdrawals and deposits pursuant to Section 2.03(c)) and Section 3.02 to be reduced by all withdrawals therefrom pursuant to Section 2.02(g) and Section 2.03(d).

  • Noteholders’ Interest Carryover Amount means, with respect to any Class of Notes and any date of determination, all or any portion of the Noteholders’ Interest Distributable Amount for such Class of Notes for the immediately preceding Distribution Date which remains unpaid as of such date of determination, plus interest on such unpaid amount, to the extent permitted by law, at the respective Interest Rate borne by the applicable Class of Notes from such immediately preceding Distribution Date to but excluding such date of determination.