Trailing Excess Spread definition

Trailing Excess Spread means, as of any date of determination, the average of the Excess Spread in (i) the calendar month immediately prior to the calendar month that includes such date of determination and (ii) the calendar month that includes such date of determination.

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Examples of Trailing Excess Spread in a sentence

• The Credit Parties shall not permit the Trailing Excess Spread to be less than three and one-quarter percent (3.00%).

• The Credit Parties shall not permit the Trailing Excess Spread (UK) to be less than eight percent (8.00%).

• The Credit Parties shall not permit the Trailing Excess Spread to be less than two and three-quarters percent (2.75%).