Step-Up Security definition
Step-Up Security. A security with a current interest rate of zero percent per annum at the time of purchase but which increases to predetermined levels on specific dates; provided that the term Step-Up Security shall not include any Loan.
Step-Up Security means a debt security or a loan that provides that the interest rate of which increases over a specified period of time other than due to the increase of the index relating to a floating rate Underlying Loan.
Step-Up Security means a security which by the terms of the related Underlying Instrument provides for an increase, in the case of a Fixed Rate Collateral Debt Security, in the per annum interest rate on such security or, in the case of a Floating Rate Collateral Debt Security, in the spread over the applicable index or benchmark rate, solely as a function of the passage of time; provided that a Step-Up Security will not include any such security
Examples of Step-Up Security in a sentence
No later than five (5) business days following Landlord’s approval of the Server Refresh certification, Landlord shall return the Step-Up Security Deposit to Tenant (provided, Tenant shall be required to thereafter deposit a new Step-Up Security Deposit as and to the extent provided in Item 10 of the Basic Lease Information).
Supplier (or its affiliate) shall cause the Step-Up Security Deposit to be returned to Customer promptly upon the expiration of the initial term of the Lease.
More Definitions of Step-Up Security
Step-Up Security. Any Collateral Debt Obligation which by the terms of the related Underlying Instrument provides for an increase, in the case of securities that bear interest at a fixed rate, in the per annum interest rate on such security or, in the case of securities that bear interest at a floating rate, in the spread over the applicable index or benchmark rate, solely as a function of the passage of time; provided that a Step-Up Security shall not be a security providing for payment of a constant rate of interest at all times after the date of Grant thereof by the Issuer to the Trustee.
Step-Up Security means a security with a current interest rate of zero percent per annum at the time of purchase but which changes to predetermined levels on specific dates.