Floating Rate Debt definition

Floating Rate Debt. Any Secured Debt that bears interest at floating rates, which on the Closing Date shall consist of the Class A Notes, the Class B Notes and the Class A Loans.

Floating Rate Debt means, as of any date of determination, all Indebtedness with a variable interest rate that is not subject to a Hedging Agreement providing protection against fluctuations in interest rates.

Floating Rate Debt means all Indebtedness of the Borrower and its Subsidiaries which bears interest at fluctuating rates (and in any event shall include all Loans and other Indebtedness of the Borrower under any of the Loan Documents) and for which the Borrower or any such Subsidiary has not obtained Interest Rate Agreements which effectively cause such variable rates to be equivalent to fixed rates less than or equal to (a) the rate (as reasonably determined by the Agent) borne by United States 10-year Treasury Notes at the time the applicable Interest Rate Agreement became effective plus (b) 3.0%.

Examples of Floating Rate Debt in a sentence

• Floating Rate Debt Instruments - are debt securities issued by the Central and/or a State Government, Corporates or PSUs or other eligible issuers with interest rates that are reset periodically.

• Valuation of Non Traded /Thinly Traded and Unlisted Floating Rate Debt Securities (Floaters) There are no valuation guidelines prescribed by SEBI for Valuation of Non Traded / Thinly Traded and Unlisted Floating Rate Debt Securities.

• The Interest Rate payable in respect of a Floating Rate Debt Instrument must be determined by the Calculation Agent in accordance with these Conditions.

• Each Floating Rate Debt Instrument bears interest on its outstanding principal amount from (and including) its Interest Commencement Date to (but excluding) its Maturity Date at the Interest Rate.

• Inverse Floating Rate Debt Securities will have more volatile market values than conventional Floating Rate Debt Securities Inverse Floating Rate Debt Securities have an interest rate equal to a fixed rate minus a rate based upon a reference rate such as LIBOR.

More Definitions of Floating Rate Debt

Floating Rate Debt means all Indebtedness for borrowed money of the Borrower, the other Obligors and each of their respective Subsidiaries which bears interest at fluctuating rates (and in any event shall include all Loans and other Indebtedness of the Borrower under any of the Loan Documents) and for which the Borrower, such Obligor or such Subsidiary has not obtained Interest Rate Agreements which Interest Rate Agreements effectively cause such variable rates to be equivalent to, or to be capped at, fixed rates. For purposes of this definition, Floating Rate Debt of the Borrower, any other Obligor or any Subsidiary of the Borrower, the other Obligors and their respective Subsidiaries shall include the Floating Rate Debt of any Unconsolidated Affiliate of the Borrower, such Obligor or such Subsidiary, as the case may be, only to the extent of such Floating Rate Debt is recourse to the Borrower, such Obligor or such Subsidiary.

Floating Rate Debt means any part of the Obligations which bears interest at a floating rate.

Floating Rate Debt means Floating Rate Junior Debt and Floating Rate Senior Debt.

Floating Rate Debt has the meaning set forth in Section 3.4(g).

Floating Rate Debt. All Indebtedness of a Person that bears interest at a variable rate during the scheduled life of such Indebtedness and for which such Person has not obtained interest rate swap agreements that effectively cause such variable rates to be equivalent to fixed rates through the maturity of the Indebtedness.

Floating Rate Debt means the New Floating Rate Debt and the APE Floating Rate Debt.

Floating Rate Debt means any outstanding Indebtedness of Borrower which bears interest at a rate which is subject to periodic adjustment (either automatically by reference to a fluctuating base or market rate of interest or at the option of the lender) at any time prior to the earlier of (a) the then effective Maturity Date and (b) the maturity date or termination date of such Indebtedness. In determining Floating Rate Debt, the effects of any Interest Rate Contracts held by the obligor under such Indebtedness shall be considered on a basis consistent with the foregoing.