Dated as of September 30, 2004 MCG COMMERCIAL LOAN TRUST 2004–1, As the Trust, MCG FINANCE IV, LLC, as the Trust Depositor, MCG CAPITAL CORPORATION, as the Originator and as the Servicer, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as the Indenture...Sale and Servicing Agreement • November 4th, 2004 • MCG Capital Corp • New York
Fixed Rate Excess means, as of any Determination Date, an amount equal to a fraction (expressed as a percentage), the numerator of which is equal to the product of (a) the excess, if any, of the Weighted Average Coupon for such Determination Date over the Minimum Weighted Average Coupon for such Determination Date and (b) the aggregate Outstanding Loan Balance of all fixed rate Loans (excluding any Charged-Off Loans and Delinquent Loans) as of such Determination Date and the denominator of which is equal to the aggregate Outstanding Loan Balance of all floating rate Loans (excluding Charged-Off Loans and Delinquent Loans) held by the Trust as of such Determination Date. In determining the Fixed Rate Excess on any Determination Date, the Weighted Average Coupon will be calculated as if the Spread Excess were equal to zero.
