Eurodollar Rate Spread means, for each Eurodollar Period, the applicable additional component of interest, expressed as a percentage per annum, set forth below opposite the Applicable Pricing Level, to be added to the Eurodollar Rate in determining the applicable rate of interest for Eurodollar Loans: Applicable Pricing Eurodollar Rate Level Spread ----- ------ I 1.50%
Eurodollar Rate Spread means (A) as to each Advance Rate the applicable Eurodollar Rate Spread set forth below opposite such Advance Rate for the applicable Collateral type, or such other Eurodollar Rate Spread as may be mutually agreed to by Borrower and Lender: -------------------------------------------------------------------------------------------------------------------------- Eurodollar Rate Spread (expressed as percentage points per annum and as Collateral Type Advance Rate basis points) -------------------------------------------------------------------------------------------------------------------------- Conduit Loan 90% 1.25% 125bp -------------------------------------------------------------------------------------------------------------------------- Non-Conduit Loans (limited to 90% LTV maximum) First Mortgage (75% LTV maximum) 85% 1.75% 175bp -------------------------------------------------------------------------------------------------------------------------- Subordinate Mortgage Loans, Mezzanine Loans, CMBS and Equity Interests* 70% 2.25% 225bp -------------------------------------------------------------------------------------------------------------------------- * Solely for illustrative purposes, Borrower and Lender agree that the following example of a transaction illustrates their intent: with respect to an item of Collateral that is a First Mortgage Loan for which the appraised value of the underlying real property is $100,000,000, on which a First Mortgage Loan has been made in the aggregate amount of $80,000,000, with Lender advancing hereunder 85% of a 75% LTV ($63,750,000), plus 70% of the remaining 5% LTV (70% of $15,000,000 equals $3,500,000), the aggregate loans from Lender to Borrower would equal $67,250,000, resulting in a 84.06% underlying loan-to-loan value. In addition, Lender will finance non-conduit loans originated by Borrower with an aggregate underlying LTV up to 90% and above 90% on a case-by-case basis. The Eurodollar Rate Spread may exceed the levels set forth above on loans with underlying LTVs in excess of 90%. and (B) notwithstanding anything set forth in clause (A) to the contrary, in the event the Termination Date shall be extended pursuant to the terms hereof, for the period from and after the First Anniversary to, and including, the date the Loans are repaid in full, as to each Advance Rate the sum of (x) the applicable Eurodollar Rate Spread set forth opposite such Advance Rate for the applicable Collateral type in clause...
Eurodollar Rate Spread means (A) as to each Purchase Rate the applicable Eurodollar Rate Spread set forth below opposite such Purchase Rate for the applicable “Transaction Asset Type” (as set forth in the chart below), or such other Eurodollar Rate Spread as may be mutually agreed to by Seller and Buyer: Transaction Asset Type Purchase Rate Eurodollar Rate Spread (expressed as percentage points per annum and as basis points) Initial Transaction Asset 60% 1.50%* 150 bps* All Eligible Transaction Assets other than Initial Transaction Asset and DYT Assets To be determined in Buyer’s sole good faith discretion. To be determined in Buyer’s sole good faith discretion. DYT Assets Not applicable. Not applicable. * In the event that at any time, and for so long as, the quotient of (a) the outstanding amount of the Repurchase Price of the Initial Transaction Asset divided by (b) the outstanding principal amount of the Initial Transaction Asset, shall be less than fifty percent (50%), the Eurodollar Rate Spread with respect to the Initial Transaction Asset shall be 1.00% (100 bps). In the event that a Rate Step-Up shall become effective pursuant to the terms of this Agreement, the Eurodollar Rate Spread for the Initial Transaction Asset shall be 1.00% (100bps) higher (for each day that such Rate Step-Up is in effect) than the Eurodollar Rate Spread that would otherwise be in effect.
Examples of Eurodollar Rate Spread in a sentence
Except as otherwise provided in Section 3.6, the unpaid principal amount of any Eurodollar Loan shall bear interest at a rate per annum equal to the Eurodollar Rate for that Eurodollar Loan plus the Eurodollar Rate Spread.
In the event of any change in the Interest Coverage Ratio of the Consolidated Entity for the most recently ended four full fiscal quarters of the Consolidated Entity, the Eurodollar Rate Spread shall change effective as of the first day of the first Interest Period beginning after the date on which the most recent Financial Statements of the Consolidated Entity were required to be delivered to the Agent pursuant to Section 7.1(a) or 7.1(c), as applicable.
References herein to commercial mortgage backed securities and related terms are solely to set forth the definitions of Eurodollar Rate Spread, Advance Rate and Maximum Advance Rate for such collateral and the CMBS Loan Agreement shall govern as to all other matters.
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On each Quarterly Payment Date and on the earlier of the expiration date of a Standby Letter of Credit and the date upon which the Obligations are paid in full and the Commitment terminated, Borrower shall pay in arrears to the Administrative Agent, for the account of each Lender according to its Pro Rata Share of the Commitment, a Standby Letter of Credit fee equal to the Eurodollar Rate Spread times the undrawn amount of each outstanding Standby Letter of Credit.
More Definitions of Eurodollar Rate Spread
Eurodollar Rate Spread means, 3.50%.
Eurodollar Rate Spread is defined in the Fee Letter.
Eurodollar Rate Spread means as to each Purchase Rate the applicable Eurodollar Rate Spread set forth below opposite such Purchase Rate for the applicable Transaction Asset Type, or such other Eurodollar Rate Spread as may be mutually agreed to by Seller and Buyer: Eurodollar Rate Spread (expressed as percentage points Transaction Asset Type Purchase Rate per annum and as basis points) ---------------------- ------------- ------------------------------ ----------------------------------------------------------------------------------------------------------- Whole Loans [****] [****] [****] ----------------------------------------------------------------------------------------------------------- B Notes, Preferred Equity Interests and Mezzanine [****] [****] [****] Loans and participation interests in any of the foregoing* ---------------------------------------------------- (50% - 55% LTV maximum) [****] [****] [****] ---------------------------------------------------- (56% - 60% LTV maximum) [****] [****] [****] ---------------------------------------------------- (61% - 70% LTV maximum) [****] [****] [****] ---------------------------------------------------- (71% - 75% LTV maximum) [****] [****] [****] ----------------------------------------------------------------------------------------------------------- (76% - 80% LTV maximum) [****] [****] [****] ---------------------------------------------------- (81% - 85% LTV maximum) [****] [****] [****] ---------------------------------------------------- (86% - 90% LTV maximum) [****] [****] [****] ----------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- CMBS [****] [****] [****] Rating: [****] [****] [****] ---------------------------------------------------- BBB [****] [****] [****] ---------------------------------------------------- BBB- [****] [****] [****] ----------------- ----------------- ---------------- BB+ [****] [****] [****] ---------------------------------------------------- BB [****] [****] [****] ---------------------------------------------------- BB- [****] [****] [****] ----------------------------------------------------------------------------------------------------------- B+ [****] [****] [****] ---------------------------------------------------- B [****] [****] [****] ---------------------------------------------------- B- [****] [****] [****] ...
Eurodollar Rate Spread means (A) with respect to each item of Eligible Collateral pledged to Lender before March 30, 1999 and set forth on Exhibit G attached hereto, for the period to, and including, December 8, 1999, as to each Advance Rate the applicable Eurodollar Rate Spread set forth below opposite such Advance Rate for the applicable Collateral type, or such other Eurodollar Rate Spread as may be mutually agreed to by Borrower and Lender: ------------------------------------------------------------------------------------------------------ Collateral Type Advance Rate Eurodollar Rate Spread (expressed as percentage points per annum and as basis points) ------------------------------------------------------------------------------------------------------ Subordinate Mortgage Loans, Mezzanine 65% 1.75% 175bp Loans, CMBS and Equity Interests 75% 1.85% 185bp 80% 2.20% 220bp ------------------------------------------------------------------------------------------------------
Eurodollar Rate Spread means an additional component of ---------------------- interest (which may vary over the term of any Eurodollar Rate Loan) to be added to the Eurodollar Rate in determining the interest rate payable with respect to Eurodollar Rate Loans. As of each date of determination, the Eurodollar Rate Spread equals the interest rate per annum set forth below opposite the credit rating then assigned to the Senior Unsecured Debt by Xxxxx'x Investors Service, Inc. ("Moody's") and Standard & Poor's Ratings Group (a division of XxXxxx-Xxxx, Inc.) ("S&P") on that date: Credit Rating Eurodollar Rate Spread ------------- ---------------------- S&P Moody's --- ------- A- or A3 (or higher) .1600% BBB+ or Baa1 .2000% BBB or Baa2 .2250% BBB- or Baa3 .2500% BB+ or Ba1 (or lower) .5000% ; provided that (a) if the credit ratings assigned by Moody's and S&P -------- differ by one "notch" (e.g., BBB+ versus Baa2) then the higher (BBB+) --- of the two credit ratings shall be used, (b) if the credit ratings assigned by Moody's and S&P differ by more than one "notch" (e.g. BBB+ versus Baa3), then the average --- (BBB/Baa2) of the two credit ratings shall be used and (c) if the Senior Unsecured Debt is at any time not rated by Moody's or S&P then the credit rating that is one "notch" below the credit rating then assigned to the First Mortgage Bonds by Moody's or S&P (as applicable) shall be deemed to be the credit rating assigned by such rating agency to the Senior Unsecured Debt.
Eurodollar Rate Spread set forth herein or as otherwise defined or limited herein; provided, that, the Collateral Value shall be deemed to be zero or such greater amount as determined by Lender in respect of each item of Eligible Collateral (1) in respect of which there is a breach of a representation or warranty by a Collateral Obligor, (2) in respect of which there is a delinquency in the payment of principal and/or interest which continues for a period in excess of 30 days (such period to include any applicable grace periods) unless otherwise approved by Lender, or (3) which has been released from the possession of Custodian under the Custodial Agreement to Borrower for a period in excess of 14 days.
Eurodollar Rate Spread means, with respect to each Transaction Asset, the applicable Eurodollar Rate Spread set forth below opposite such Purchase Rate for the applicable Transaction Asset type, or such other Eurodollar Rate Spread as may be mutually agreed to by Seller and Buyer; provided, however, that if the “first dollar” and “last dollar” of the Indebtedness represented by such Transaction Asset would dictate different Eurodollar Rate Spreads (any such Transaction Asset shall, for purposes of this Amendment, be referred to as a “Blended Rate Asset”), then the Eurodollar Rate Spread for such a Blended Rate Asset shall be the weighted average of the Eurodollar Rate Spreads attributable to each dollar of such Blended Rate Asset, as determined in the sole good faith of Buyer. Transaction Asset Type Purchase Rate Eurodollar Rate Spread (expressed as percentage points per annum and as basis points) Whole Loans TBD by MS on a case by case basis TBD by MS on a case by case basis TBD by MS on a case by case basis B Notes, Preferred Equity Interests and Mezzanine Loans and participation interests in any of the foregoing* (greater than 50%, up to 55% LTV) [****] [****] [****] (greater than 55%, up to 60% LTV) [****] [****] [****] (greater than 60%, up to 70% LTV) [****] [****] [****] (greater than 70%, up to 75% LTV) [****] [****] [****] (greater than 75%, up to 80% LTV) [****] [****] [****] (greater than 80%, up to 85% LTV) [****] [****] [****] (greater than 85%, up to 90% LTV) [****] [****] [****] CMBS Rating: BBB [****] [****] [****] BBB- [****] [****] [****] BB+ [****] [****] [****] BB [****] [****] [****] BB- [****] [****] [****] B+ [****] [****] [****] B [****] [****] [****] B- [****] [****] [****] Unrated [****] [****] [****] Class F Notes [****] [****] [****] Class G Notes [****] [****] [****] Class H Notes [****] [****] [****] Other CDO Notes [****] [****] [****] * B Notes, Preferred Equity Interests and Mezzanine Loans and participations in any of the foregoing, in each case relating to hotel and other hospitality properties shall have a maximum LTV as determined by the Buyer in its sole discretion.