Relevant Fraction definition

Relevant Fraction means, in respect of each Interest Period, an amount calculated by the Calculation Agent in accordance with the following formula:

Relevant Fraction means a fraction of which the numerator is the Market Value of that Ship, being sold or which has become a Total Loss and the denominator is the aggregate Market Value of all Mortgaged Ships at the relevant time.

Relevant Fraction means the fraction calculated in accordance with the following formula: Relevant Fraction = 1 – (A ÷ B)

Examples of Relevant Fraction in a sentence

• The quorum at any Meeting shall be at least two Voters representing or holding not less than the Relevant Fraction of the aggregate principal amount of the outstanding Notes; provided, however, that, so long as at least the Relevant Fraction of the aggregate principal amount of the outstanding Notes is represented by a Global Note, a single Proxy representing the Holder thereof shall be deemed to be two Voters for the purpose of forming a quorum.

• The quorum at any Meeting shall be at least two Voters representing or holding not less than the Relevant Fraction of the aggregate principal amount of the outstanding Notes; provided, however, that, so long as at least the Relevant Fraction of the aggregate principal amount of the outstanding Notes is represented by the Temporary Global Note and/or the Permanent Global Note, a single Proxy representing the holder thereof shall be deemed to be two Voters for the purpose of forming a quorum.

• The quorum at any Meeting shall be the Relevant Fraction of the aggregate principal amount of the outstanding Notes.

• The quorum at any Meeting shall be at least two Voters representing or holding not less than the Relevant Fraction of the aggregate principal amount of the outstanding Notes; provided, however, that, so long as at least the Relevant Fraction of the aggregate principal amount of the outstanding Notes is represented by a Global Note, a single Proxy representing the holder thereof shall be deemed to be two Voters for the purpose of forming a quorum.

• The quorum at any Meeting shall be one or more Voters representing or holding not less than the Relevant Fraction of the aggregate principal amount of the outstanding Notes.

More Definitions of Relevant Fraction

Relevant Fraction is a fraction whose:

Relevant Fraction means a fraction of which the numerator is 1 and the denominator the number of months comprised in the then current Interest Period in respect of that Advance (or, if the current Interest Period in respect of that Advance ends after the next due date for payment of interest under this Agreement the number of months from the later of the commencement of the current Interest Period in respect of that Advance or the last due date for payment of interest to the next due date for payment of interest under this Agreement).

Relevant Fraction means, in relation to a Mortgaged Ship which has become a Total Loss or is sold, the fraction having (i) as numerator the market value of the relevant Mortgaged Ship lost or sold as most recently determined in accordance with clause 8.2.2 and (ii) as a denominator the market value of all the Mortgaged Ships (including the relevant Mortgaged Ship lost or sold) as most recently determined in accordance with clause 8.2.2; and

Relevant Fraction is a fraction of which the numerator is 1 and the denominator the number of months comprised in the then current Interest Period (or, if current Interest Period ends after the next date for payment of interest under this Agreement, the number of months from the later of the commencement of the current Interest Period or the last due date for payment of interest to the next date for payment of interest under this Agreement).

Relevant Fraction means, as at any time, a fraction the numerator of which is the Authorised Denomination and the denominator is an amount equal to the aggregate of the Authorised Denominations of all outstanding Notes at such time.

Relevant Fraction means the fraction derived by dividing the number of days in the given performance year for which A has been Remuneration Code staff by the number of days in the year;

Relevant Fraction means, in respect of each tranche of Notes remarketed, a fraction the numerator of which is the aggregate principal amount of the Notes in such tranche that are being remarketed and the denominator of which is the aggregate principal amount of the Notes to be remarketed.