Floating Rate Index definition

Floating Rate Index means, with respect to Securities of any series that bear a floating interest rate, the index specified as the Floating Rate Index by the Company pursuant to Section 3.1 with respect to such series.
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Floating Rate Index as used in this Note means a floating interest rate equal to the US Prime Rate as published by the Wall Street Journal from time to time (or a comparable rate selected by Lender if The Wall Street Journal ceases to publish such rate). The initial Floating Index Rate is 3.25%, provided, the Floating Index Rate shall be adjusted on the 14th day of each month (commencing on April 14, 2021) to the then current US Prime Rate as published by The Wall Street Journal on the last business day preceding such date.” “The term “Stated Rate” as used in this Note means a floating annual interest rate equal to the greater of (i) the Floating Rate Index, or (ii) 2.75%.” 3.
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Floating Rate Index. The rate for a Rate Reset Date will be the rate for deposits in U.S. Dollars for a period of the designated maturity which appears on the Telerate Page 3750 as of 11:00 a.m., London time, on the Rate Reset Reference Date immediately preceding that Rate Reset Date. If such rate does not appear on the Telerate Page 3750, the rate for that Rate Reset Date will be determined on the basis of the rates at which deposits in U.S. Dollars are offered by four major banks in the London interbank market (the "Reference Banks") at approximately 11:00 a.m., London time, on such Rate Reset Reference Date to prime banks in the London interbank market for a period of the designated maturity and commencing on that Rate Reset Date. The Member and the Bank will request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that Rate Reset Date will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that Rate Reset Date will be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Member and the Bank, at approximately 11:00 a.m., New York City time, on that Rate Reset Date for loans in U.S. Dollars to leading European banks for a period of the designated maturity commencing on that Rate Reset Date. Designated Maturity: Monthly Libor Spread: LIB1M + 0.080 LIBOR Determination: 2 New York and London business days prior to each payment date.
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Examples of Floating Rate Index in a sentence

  • From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, Applicable Premium, if any, and Floating Rate Index Breakage Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue.

  • Payments of principal of, interest on, and any Applicable Premium and Floating Rate Index Breakage Amount with respect to this Note are to be made in lawful money of the United States of America in the manner provided in the Private Shelf Agreement.

  • Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a LIBOR Transition Event, Lender may amend this Note to change the Floating Rate Index from the One Month London Interbank Offered Rate to a Benchmark Replacement.

  • Floating Dividend Rate A floating rate equal to the Floating Rate Index plus 5.008% per annum per $25.00 of liquidation preference per share Floating Rate Index Three-month LIBOR Floating Rate Reset Frequency Quarterly during the Floating Rate Period Business Day Convention During the Fixed Rate Period, following business day.

  • The initial Floating Index Rate is 3.25%, provided, the Floating Index Rate shall be adjusted on the 14th day of each month (commencing on April 14, 2021) to the then current US Prime Rate as published by The Wall Street Journal on the last business day preceding such date.” “The term “Stated Rate” as used in this Note means a floating annual interest rate equal to the greater of (i) the Floating Rate Index, or (ii) 2.75%.” 3.

  • NORTHERN LIGHTS FUND TRUST W.E. Xxxxxxxx & Co., LLC on behalf of Power Income Fund, Power Dividend Index Fund, Power Momentum Index Fund, Power Floating Rate Index Fund, Power Dividend Mid-Cap Index Fund and Power Global Tactical Allocation/JAForlines Fund By: _________________________________ By: ________________________________ Name: Xxxxxxx Xxxxxxxxxx Name: Xxxxxxx X.

  • If an Event of Default occurs and is continuing, the principal of this Note shall become due and payable in the manner, at the price (including any applicable Applicable Premium and Floating Rate Index Breakage Amount) and with the effect provided in the Private Shelf Agreement.

  • Prepayment of the Notes to be made pursuant to this Section 8.7 shall be made at 100% of the principal amount of such Notes being so prepaid, together with interest on such principal amount then being prepaid accrued to the date of prepayment and, in respect of any Notes bearing a floating interest rate, any Floating Rate Index Breakage Amount determined for the prepayment date with respect to such principal amount.

  • In the case of each optional prepayment of Notes of any Series pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment (which shall be a Business Day), together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount, Applicable Premium, if any, and Floating Rate Index Breakage Amount.

  • NORTHERN LIGHTS FUND TRUST W.E. Xxxxxxxx & Co., LLC on behalf of Power Income Fund, Power Dividend Index Fund, Power Momentum Index Fund, Power Floating Rate Index Fund and Power Dividend Mid-Cap Index Fund By: _________________________________ By: ________________________________ Name: Xxxxx Xxxx Name: Xxxxxxx X.


More Definitions of Floating Rate Index

Floating Rate Index means, in relation to the interest being borne during any Interest Period by any Note that bears a floating interest rate, for any Reset Date, the floating rate index specified for such Note in the relevant Confirmation of Acceptance.
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Related to Floating Rate Index

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • Floating Rate Convention means that each relevant date shall be the date which numerically corresponds to the preceding such date in the calendar month which is the number of months specified in the applicable Final Terms as the Specified Period after the calendar month in which the preceding such date occurred; provided, however, that:

  • CB Floating Rate means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month LIBOR Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including the effective date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively.

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • Floating Rate Interest Period means each period commencing on the date of the Closing and, thereafter, commencing on a Floating Rate Interest Payment Date and continuing up to, but not including, the next Floating Rate Interest Payment Date.

  • Quarterly Floating Rate Period means the period from and including a Quarterly Commencement Date to but excluding the next succeeding Quarterly Commencement Date.

  • Treasury Index Rate means the average yield to maturity for actively traded marketable U.S. Treasury fixed interest rate securities having the same number of 30-day periods to maturity as the length of the applicable Dividend Period, determined, to the extent necessary, by linear interpolation based upon the yield for such securities having the next shorter and next longer number of 30-day periods to maturity treating all Dividend Periods with a length greater than the longest maturity for such securities as having a length equal to such longest maturity, in all cases based upon data set forth in the most recent weekly statistical release published by the Board of Governors of the Federal Reserve System (currently in H.15 (519)); provided, however, if the most recent such statistical release shall not have been published during the 15 days preceding the date of computation, the foregoing computations shall be based upon the average of comparable data as quoted to the Trust by at least three recognized dealers in U.S. government securities selected by the Trust.

  • Floating Rate Margin means 7.50 per cent. per annum.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Floating Rate means, for any day, a rate per annum equal to (i) the Alternate Base Rate for such day plus (ii) the Applicable Margin, in each case changing when and as the Alternate Base Rate changes.

  • Adjusted CD Rate has the meaning set forth in Section 2.07(b).

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • Floating Rate Note means any Class A-2b Note.

  • Reference Index means each of the indices comprising the Reference Portfolio.

  • Reference Rate means the rate specified as such hereon.

  • Adjusted LIBOR means, for any Borrowing of Eurodollar Loans, a rate per annum determined in accordance with the following formula: Adjusted LIBOR = LIBOR

  • Floating Day Count Fraction means, in respect of the calculation of an amount of interest for any Interest Period:

  • Adjusted One Month LIBOR Rate means, an interest rate per annum equal to the sum of (i) 1.00% per annum plus (ii) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the Screen Rate at approximately 11:00 a.m. London time on such day.

  • Pricing Rate Period means, with respect to any Transaction and any Remittance Date (a) in the case of the first Pricing Rate Period, the period commencing on and including the Purchase Date for such Transaction and ending on and excluding the following Remittance Date, and (b) in the case of any subsequent Pricing Rate Period, the period commencing on and including the immediately preceding Remittance Date and ending on and excluding such Remittance Date; provided, however, that in no event shall any Pricing Rate Period for a Purchased Asset end subsequent to the Repurchase Date for such Purchased Asset.

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by Xxxxx Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • Reset Period means the First Reset Period or a Subsequent Reset Period, as the case may be;

  • Rate Year means July 1st of a given Calendar Year through June 30th of the succeeding Calendar Year.

  • 3-Month LIBOR means the London interbank offered interest rate for three-month, U.S. dollar deposits determined by the Trustee in the following order of priority: