Spread Excess means, as of any date of determination, a fraction (expressed as a percentage) the numerator of which is the product of (i) the greater of zero and the excess of the Weighted Average Spread for such date of determination over the Minimum Weighted Average Spread on such date of determination and (ii) the Adjusted Borrowing Value of all Floating Rate Loan Assets (excluding any defaulted Loan Assets) held by the Borrower as of such date of determination, and the denominator of which is the Adjusted Borrowing Value of all Fixed Rate Loan Assets (excluding any defaulted Loan Assets) held by the Borrower as of such date of determination.
Spread Excess means, as of any Measurement Date, a fraction (expressed as a percentage) the numerator of which is the product of (i) the greater of zero and the excess of the Weighted Average Spread for such Measurement Date over the minimum percentage necessary to pass the Weighted Average Spread Test on such Measurement Date and (ii) the Aggregate Principal Balance of all Floating Rate Underlying Assets (excluding any Defaulted Obligations) held by the Issuer as of such Measurement Date, and the denominator of which is the Aggregate Principal Balance of all Fixed Rate Underlying Assets (excluding any Defaulted Obligations) held by the Issuer as of such Measurement Date. In computing the Spread Excess on any Measurement Date, the Weighted Average Spread for the Measurement Date will be computed as if the Fixed Rate Excess were equal to zero.
Spread Excess means, as of any Measurement Date, a fraction (expressed as a percentage), the numerator of which is equal to the product of (a) the greater of zero and the excess, if any, of the Weighted Average Spread for such date over 1.87%, and (b) the aggregate Principal Balance of all Floating Rate Collateral Debt Securities and Deemed Floating Rate Collateral Debt Securities (excluding, in each case, Defaulted Securities, Written Down Securities or Deferred Interest PIK Bonds) and the denominator of which is the aggregate Principal Balance of all Collateral Debt Securities that are Fixed Rate Collateral Debt Securities (excluding Defaulted Securities, Written Down Securities, Deferred Interest PIK Bonds and Deemed Floating Rate Collateral Debt Securities).
Examples of Spread Excess in a sentence
Application of Excess Spread, Excess Finance Charge Collections and Available Interest Reserve Account Amount Allocated to Series 2012-A 1.
Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2016-E-II Allocated to Series 2013-2 1.
Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2016-E-II Allocated to Series 2013-1 1.
Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2008-2 1.
Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2016-E-I Allocated to Series 2014-3 1.
More Definitions of Spread Excess
Spread Excess. As of any Measurement Date, a fraction (expressed as a percentage), the numerator of which is equal to the product of (a) the greater of zero and the excess, if any, of the Weighted Average Spread for such Measurement Date over 2.75% and (b) the Aggregate Principal Balance of all Collateral Debt Securities that are Floating Rate Securities (excluding all Defaulted Securities and Written Down Securities) and the denominator of which is the Aggregate Principal Balance of all Collateral Debt Securities that are Fixed Rate Securities (excluding all Defaulted Securities and Written Down Securities), multiplying the resulting figure by 365 and then dividing by 360.
Spread Excess means, as of any date of determination, a fraction (expressed as a percentage) the numerator of which is the product of (i) the greater of zero and the excess of the Weighted Average Spread for such date of determination over the minimum percentage necessary to pass the Weighted Average Spread Test on such date of determination and (ii) the Aggregate Principal Balance of all Floating Rate Loans (excluding any Defaulted Obligations) held by the Borrower as of such date of determination, and the denominator of which is the Aggregate Principal Balance of all Fixed Rate Loans (excluding any Defaulted Obligations) held by the Borrower as of such date of determination. In computing the Spread Excess on any date of determination, the Weighted Average Spread for such date of determination will be computed as if the Fixed Rate Excess were equal to zero.
Spread Excess. The Moody's Spread Excess, the S&P Spread Excess or the Fitch Spread Excess, as the context requires.
Spread Excess means, as of any Measurement Date, a fraction (expressed as a percentage), the numerator of which is equal to the product of (a) the excess, if any, of the [**] CONFIDENTIAL TREATMENT REQUESTED Weighted Average Spread for such Measurement Date over [**] (or [**] on the First Ramp-Up Test Date or [**] on the Second Ramp-Up Test Date) and (b) the Aggregate Principal Balance of all Floating Rate Securities (excluding Defaulted Securities, Written-Down Securities and Deferred Interest PIK Bonds) and the denominator of which is the Aggregate Principal Balance of all Fixed Rate Securities (excluding Defaulted Securities, Written-Down Securities and Deferred Interest PIK Bonds). In computing the Spread Excess, the Weighted Average Spread shall be computed as if the Fixed Rate Excess were equal to zero.
Spread Excess means, as of any date of determination, a fraction (expressed as a percentage) the numerator of which is the product of
Spread Excess. As of any Measurement Date, a fraction (expressed as a percentage), the numerator of which is equal to the product of (a) the greater of zero and the excess, if any, of the Weighted Average Spread for such Measurement Date over, with respect to Moody’s, the number set forth in the row entitled “Minimum Weighted Average Spread” in the Moody’s Test Matrix, with respect to S&P, the number set forth in the row entitled “Minimum Weighted Average Spread” in the S&P Test Matrix, and with respect to Fitch, the number set forth in the row entitled “Minimum Weighted Average Spread” in the Fitch Test Matrix, in each case based on the scenario chosen by the Collateral Manager as currently applicable to the applicable Collateral Quality Tests and the Collateral Debt Securities in accordance with the Collateral Management Agreement and (b) the Aggregate Principal Balance of all Collateral Debt Securities that are Floating Rate Securities (excluding all Defaulted Securities and Written Down Securities) and the denominator of which is the Aggregate Principal Balance of all Collateral Debt Securities that are Fixed Rate Securities (excluding all Defaulted Securities and Written Down Securities), multiplying the resulting figure by 365 and then dividing by 360.
Spread Excess. As of any Measurement Date, a fraction (expressed as a percentage), the numerator of which is equal to the product of (a) the greater of zero and the excess, if any, of the Weighted Average Spread for such Measurement Date over, with respect to Moody’s, the number set forth in the row entitled “WAS” in the Moody’s Test Matrix, with respect to S&P, the number set forth in the row entitled “WAS” in the S&P Test Matrix, and with respect to Fitch, the number set forth in the row entitled “WAS” in the Fitch Test Matrix, in each case based on the scenario chosen by the Collateral Manager as currently applicable to the applicable Collateral Quality Tests and the Collateral Interests in accordance with the terms hereof, and (b) the aggregate Principal Balance of all Collateral Interests that are Floating Rate Securities (excluding all Defaulted Interests and Written Down Securities) and the denominator of which is the aggregate Principal Balance of all Collateral Interests that are Fixed Rate Securities (excluding all Defaulted Interests and Written Down Securities), multiplying the resulting figure by 365 and then dividing by 360