Proxy Interest Rate definition
Proxy Interest Rate means, on any date of determination, the weighted average interest rate, expressed as a per annum rate, determined pursuant to the following formula: where: CR = the weighted average cap rate (weighted by notional amount) with respect to all Interest Rate H▇▇▇▇▇ on such date, expressed as a per annum rate; NA = the aggregate notional amount of all Interest Rate H▇▇▇▇▇ on such date; DR = the Default Rate on such date, expressed as a per annum rate; and PA = the aggregate outstanding principal amount of all Advances on such date.