Additional Spread definition

Additional Spread means the amount equal to the excess of Party B's Benefit Exposure less Party B's Exposure, as each is calculated on the same Valuation Date.
View Source
Additional Spread represents the excess of Party B's Benefit Exposure over Party B's Exposure, as calculated on the same Valuation Date according to the Joint Rating (as defined below) as the case may be, as follows: Joint Rating Additional Spread A1 (Moody's) and 0.15% A+ (S&P) and A+ (Fitch) A2 (Moody's) and 0.20% A (S&P) and A (Fitch) A3 (Moody's) and 0.25% A- (S&P) and A- (Fitch)
View Source
Additional Spread means a rate per annum equal to (i) zero during the one year period commencing on the most recent Set Date, (ii) 0.125% during the one year period commencing on the first anniversary of the most recent Set Date, (iii) 0.250% during the one year period commencing on the second anniversary of the most recent Set Date, (iv) 0.375% during the one year period commencing on the third anniversary of the most recent Set Date and (v) 0.500% on and after the fourth anniversary of the most recent Set Date and (y) "Set Date" means, initially, the Effective Date and thereafter each date on which the Applicable Rate is decreased pursuant to a change from the then-current Category upon which the Applicable Rate is based to a different Category which is higher (Categories with lower numbers being higher categories) than any Category on which the Applicable Rate was based at any time prior to such change. For purposes of this definition, (i) if neither S&P nor ▇▇▇▇▇'▇ shall have in effect a rating for Index Debt, then both such rating agencies will be deemed to have established ratings for Index Debt in Category 7; (ii) if only one of S&P and ▇▇▇▇▇'▇ shall have in effect a rating for Index Debt, the Borrowers and the Lenders will negotiate in good faith to agree upon another rating agency to be substituted by an amendment to this Agreement for the rating agency which shall not have a rating in effect, and pending the effectiveness of such amendment the Applicable Rate will be determined by reference to the available rating; (iii) if the ratings established or deemed to have been established by S&P and ▇▇▇▇▇'▇ shall fall within different Categories, the Applicable Rate shall be determined by reference to (x) if such ratings are adjacent, the higher of such ratings, and (y) if such ratings are not adjacent, the rating that is one rating lower than the higher of such ratings; and (iv) if any rating established or deemed to have been established by S&P or ▇▇▇▇▇'▇ shall be changed (other than as a result of a change in the rating system of either S&P or ▇▇▇▇▇'▇), such change shall be effective as of the date on which such change is first announced by the rating agency making such change. If the rating system of either S&P or ▇▇▇▇▇'▇ shall change prior to the Term Loan Maturity Date, the Borrowers and the Lenders shall negotiate in good faith to amend the references to specific ratings in this definition to reflect such changed rating system.
View Source

Examples of Additional Spread in a sentence

  • The Transferor shall make a deposit in an amount equal to the Additional Spread Account Amount (calculated after giving effect to any deposit pursuant to the preceding sentence) on the Additional Issuance Date.


More Definitions of Additional Spread

Additional Spread means the amount by which the Guaranteed Interest Rate as of the applicable Monthly Accounting Closing Date, on deposits received under the MVA Option of the MVA Policies after the First Amendment Effective Date, exceeds the greater of 3% and the Statutory Valuation Rate, in either case divided by 12.
View Source
Additional Spread means, if Borrower has not closed the Required Institutional Debt and made the repayments with the proceeds thereof as required by this Agreement on or before October 1, 1999, an additional interest rate spread equal to 0.25% per annum, which Additional Spread shall be included in the calculation of the Adjusted LIBOR Rate and the Variable Rate from such date until Borrower closes the Required Institutional Debt and makes the repayments with the proceeds thereof as required by this Agreement.
View Source
Additional Spread means, in respect of any Note, the percentage set forth in the applicable Pricing Supplement.
View Source

Related to Additional Spread

  • Adjustment Spread means either (a) a spread (which may be positive, negative or zero) or (b) a formula or methodology for calculating a spread, in each case to be applied to the Successor Rate or the Alternative Rate (as the case may be) and is the spread, formula or methodology which:

  • Applicable Spread means, in connection with the Maximum Rate for any Rate Period (and subject to adjustment as described in the definition of Maximum Rate) (i) when there is not a Failed Remarketing Condition, 200 basis points (2.00%), and (ii) while a Failed Remarketing Condition has occurred or is continuing, 200 basis points (2.00%) (up to 59 days of a continued Failed Remarketing Condition), 225 basis points (2.25%) (sixty (60) days but fewer than ninety (90) days of a continued Failed Remarketing Condition), 250 basis points (2.50%) (ninety (90) days but fewer than 120 days of a continued Failed Remarketing Condition), 275 basis points (2.75%) (120 days but fewer than 150 days of a continued Failed Remarketing Condition), 300 basis points (3.00%) (150 days but fewer than 180 days of a continued Failed Remarketing Condition), and 400 basis points (4.00%) (180 days or more of a continued Failed Remarketing Condition); provided that, if at any time when the Applicable Spread is 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) and the Failed Remarketing Condition no longer exists due to the successful remarketing of all Purchased VRDP Shares, then such Applicable Spread of 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) will continue to be the Applicable Spread in connection with determining the Maximum Rate in effect for each Rate Period commencing with the first Subsequent Rate Period after the Failed Remarketing Condition no longer exists through and including the first Subsequent Rate Period ending on or after the 45th day after the day the Failed Remarketing Condition no longer exists; provided, further, that (i) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 225 basis points (2.25%), the date such new Failed Remarketing Condition occurs will be deemed to be the 60th day of a continued Failed Remarketing Condition, (ii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 250 basis points (2.50%), the date such new Failed Remarketing Condition occurs will be deemed to be the 90th day of a continued Failed Remarketing Condition, (iii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 275 basis points (2.75%), the date such new Failed Remarketing Condition occurs will be deemed to be the 120th day of a continued Failed Remarketing Condition, (iv) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 300 basis points (3.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 150th day of a continued Failed Remarketing Condition and (v) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 400 basis points (4.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 180th day of a continued Failed Remarketing Condition, in each case, solely for purposes of determining the Applicable Spread.

  • Fixed Spread means the Bank’s fixed spread in effect at 12:01 a.m. Washington, D.C. time, one calendar day prior to the date of the Loan Agreement, for the Currency of denomination of such amount.”

  • Relative Spread with respect to any Note and any date of determination shall mean the ratio of the Interest Rate of such Note to the weighted average as of such date of determination (prior to taking into account any payments made on account of principal as of such date) of the Interest Rates on all the Notes based on their Principal Balances.

  • Weighted Average Spread means, as of any day, the number expressed as a percentage equal to (i) the Aggregate Funded Spread divided by (ii) the Aggregate Eligible Collateral Obligation Amount (excluding any interest that has been deferred and capitalized on any Deferrable Collateral Obligation).