Examples of Credit Default Swap Spread in a sentence
If at any time the Credit Default Swap Spread is unavailable, (i) the Administrative Agent shall notify the Borrower and the Lenders of such unavailability and (ii) the Borrower and the Lenders shall negotiate in good faith (for a period of up to thirty (30) days after the Credit Default Swap Spread becomes unavailable (such thirty-day period , the “Negotiation Period”)) to agree on an alternative method for establishing the Applicable LIBOR Rate.
The Administrative Agent shall promptly give notice to the Borrower and each Lender of each determination of Adjusted LIBOR and the Credit Default Swap Spread, with respect to each Eurodollar Loan.
The Administrative Agent shall determine each interest rate applicable to the Loans hereunder insofar as such interest rate involves a determination of the Alternate Base Rate, Adjusted LIBOR, LIBOR Rate, Credit Default Swap Spread, Minimum Applicable Margin, or Maximum Applicable Margin, or any applicable default rate pursuant to Section 2.7, and such determination shall be conclusive and binding except in the case of the Administrative Agent’s manifest error or willful misconduct.
The Applicable LIBOR Rate at any date of determination thereof in accordance with the provisions of the definition of “Applicable LIBOR Rate” which falls during the Negotiation Period shall be based upon the then most recently available quote of the Credit Default Swap Spread prior to such unavailability.
Each Borrower shall pay interest on the unpaid principal amount of each Swing Line Advance made to such Borrower from the date of such Swing Line Advance until such principal amount shall be paid in full at a rate per annum equal at all times during the Interest Period for such Swing Line Advance to the sum of (x) the EURIBO Rate for such Interest Period plus (y) the Credit Default Swap Spread applicable to such Interest Period, payable in arrears on the last day of such Interest Period.