Aggregate Funded Spread. As of any Measurement Date, the sum of: (a) in the case of each Floating Rate Obligation (other than a Defaulted Obligation) that bears interest at a spread over a reference rate based index that is a Benchmark-based Index or is the same as the then-current Benchmark applicable to the Floating Rate Notes (including, for any Permitted Deferrable Obligation, only the excess of the required current cash pay interest required by the Underlying Documents thereon over the applicable index and excluding the unfunded portion of any Delayed Drawdown Collateral Obligation and Revolving Collateral Obligation), (i) the stated interest rate spread paid in Cash on such Collateral Obligation above such index multiplied by (ii) the Principal Balance of such Collateral Obligation; provided that (i) with respect to any Floor Obligation, the stated interest rate spread paid in Cash on such Collateral Obligation over the applicable index shall be deemed to be equal to the sum of (x) the stated interest rate spread paid in Cash over the applicable index and (y) the excess, if any, of the specified “floor” rate relating to such Collateral Obligation over the greater of zero and the applicable index and (ii) the interest rate of each Step-Up Obligation will be deemed to be its current rate of interest and the interest rate of each Step-Down Obligation will be deemed to be the lowest rate of interest that such Collateral Obligation will by its terms pay in the future solely as a function of the passage of time; and (b) in the case of each Floating Rate Obligation (including, for any Permitted Deferrable Obligation, only the required current cash pay interest required by the Underlying Documents thereon and excluding the unfunded portion of any Delayed Drawdown Collateral Obligation and Revolving Collateral Obligation) that bears interest at a spread over an index other than a reference rate based index that is a Benchmark-based Index or is the same as the then-current Benchmark applicable to the Floating Rate Notes, (i) the excess of (x) the sum of such spread and the greater of such index or any applicable floor paid in Cash over (y) the Benchmark applicable to the Floating Rate Notes as of the immediately preceding Interest Determination Date (which spread or excess may be expressed as a negative percentage) multiplied by (ii) the Principal Balance of each such Collateral Obligation.
Aggregate Funded Spread means, as of any date, the sum of:
Aggregate Funded Spread means, as of any day, the sum of: (a) in the case of each Eligible Collateral Obligation (including, for any Deferrable Collateral Obligation, only the required current cash pay interest thereon) that bears interest at a spread over a London interbank offered rate based index, (i) the sum of (I) the stated interest rate spread on each such Collateral Obligation above such index plus (II) for each such Collateral Obligation that provides for a minimum index amount, the excess, if any, of such minimum index amount over such index multiplied by (ii) the Collateral Obligation Amount of each such Collateral Obligation, plus (b) in the case of each Eligible Collateral Obligation (including, for any Deferrable Collateral Obligation, only the required current cash pay interest thereon) that bears interest at a spread over an index other than a London interbank offered rate based index, (A) the excess for each such Collateral Obligation of the sum of such spread for each such Collateral Obligation and such index for each such Collateral Obligation over the LIBOR Rate for such applicable period of time (which spread or excess may be expressed as a negative percentage) multiplied by (B) the Collateral Obligation Amount of each such Collateral Obligation plus (c) in the case of each Eligible Collateral Obligation (including, for any Deferrable Collateral Obligation, only the required current cash pay interest thereon) that is a Fixed Rate Collateral Obligation, (x) the interest rate for such Collateral Obligation minus the then-applicable LIBOR rate of a period matching the payment period of such Collateral Obligation multiplied by (y) the Collateral Obligation Amount of each such Collateral Obligation.
Examples of Aggregate Funded Spread in a sentence
The meaning specified in the definition of Aggregate Funded Spread.
As of any Measurement Date, the number obtained by dividing: (a) the amount equal to (A) the Aggregate Funded Spread plus (B) the Aggregate Unfunded Spread plus (C) the Aggregate Excess Funded Spread by (b) an amount equal to the Aggregate Principal Balance of all Floating Rate Obligations as of such Measurement Date, in each case, excluding, for any Deferring Obligation, any interest that has been deferred and capitalized thereon.
As of any Measurement Date, the number obtained by dividing: (a) the amount equal to (A) the Aggregate Funded Spread plus (B) the Aggregate Unfunded Spread by (b) an amount equal to the Aggregate Principal Balance of all Floating Rate Obligations as of such Measurement Date.
As of any Measurement Date, the number obtained by dividing: (a) the amount equal to (A) the Aggregate Funded Spread plus (B) the Aggregate Unfunded Spread plus (C) the Aggregate Excess Funded Spread (for all purposes other than with respect to the S&P CDO Monitor Test) by (b) an amount equal to the Aggregate Principal Balance of all Floating Rate Obligations as of such Measurement Date, in each case, excluding, for any Deferring Obligation, any interest that has been deferred and capitalized thereon.
As of any Measurement Date, the number obtained by dividing: (a) the amount equal to (i) the Aggregate Funded Spread plus (ii) the Aggregate Unfunded Spread plus (iii) the Aggregate Excess Funded Spread; by (b) an amount equal to the lesser of (i) the Reinvestment Target Par Balance and (ii) an amount equal to the Aggregate Principal Balance (including for this purpose any capitalized interest) of all Floating Rate Obligations as of such Measurement Date.
More Definitions of Aggregate Funded Spread
Aggregate Funded Spread. As of any Measurement Date, the sum of:
Aggregate Funded Spread means, as of any date, the sum (for all Eligible Collateral Assets) of, in the case of each Eligible Collateral Asset that bears interest at a spread over an index, (i) the stated interest rate spread over such index multiplied by (ii) the Principal Balance of such Eligible Collateral Asset; provided that, with respect to any Floor Obligation, the stated interest rate spread on such Eligible Collateral Asset over such index shall be deemed to be equal to the sum of (x) the stated interest rate spread over such index and (y) the excess, if any, of the specified “floor” rate relating to such Collateral Asset over the Applicable Reference Rate as in effect.
Aggregate Funded Spread means, as of any date of determination, the sum of: (a) in the case of each Eligible Collateral Obligation that bears interest at a spread over an Applicable Interest Rate, (I)(x) the stated interest rate spread (including any applicable spread adjustments thereto) on each such Collateral Obligation above such index, plus (y) the greater of (i) such index or (ii) such floor minus (z) the Applicable Interest Rate for such applicable period of time multiplied by (II) the outstanding principal amount of each such Collateral Obligation, plus (b) in the case of each Eligible Collateral Obligation that bears interest at a spread over an index other than an Applicable Interest Rate, (I)(x) the stated interest spread (including any applicable spread adjustments thereto) on each such Collateral Obligation above such index, plus (y) the greater of (i) such index or (ii) such floor minus (z) the Applicable Interest Rate for such Eligible Collateral Obligation; provided that, Applicable Interest Rate for purposes of this clause (b) shall be determined based on the currency in which such Eligible Collateral Obligation is denominated for such applicable period of time, multiplied by (II) the outstanding principal amount of each such Collateral Obligation. For purposes of calculating the Aggregate Funded Spread, the stated interest rate of a Deferrable Collateral Obligation will be excluded from such calculation to the extent any Loan Party or the Servicer has actual knowledge that such payment of interest will not be made by the Obligor thereof during the applicable period or such payment of interest is not actually paid in cash.
Aggregate Funded Spread means, as of any date of determination, the aggregate sum of (i) the stated interest rate spread on each Eligible Loan that is a Floating Rate Loan (including any credit adjustment spread, if any, to be added to the index applicable thereto, but for each Permitted Deferrable Loan, only the required current cash pay interest thereon) above the index applicable thereto (inclusive of any applicable benchmark floor benefit or similar floor benefit) multiplied by (ii) the Adjusted Balance of each such Eligible Loan.
Aggregate Funded Spread. As of any date, in the case of each Collateral Obligation that is not a Fixed Rate Obligation (and excluding any PIK Loan to the extent of any non-cash interest and excluding the unfunded portion of any Delayed Drawdown Collateral Obligation and any Revolving Collateral Obligation) the number obtained by summing the products of (i) the excess of the stated interest rate (giving effect to any floor rate) with respect to each such Collateral Obligation over LIBORthe Reference Rate applicable to the Secured NotesDebt during the Interest Accrual Period in which such date occurs (which spread or excess may be expressed as a negative percentage) multiplied by (ii) the Principal Balance of each such Collateral Obligation (excluding the unfunded portion of any Delayed Drawdown Collateral Obligation or Revolving Collateral Obligation).
Aggregate Funded Spread means, as of any date, in the case of each Collateral Loan, (a)(i) in the case of each Floating Rate Obligation, the excess of the sum of the spread over the applicable index (including any London interbank offered rate based index or SOFR) and such index over Term SOFR as then in effect and (ii) in the case of each Fixed Rate Obligation, the stated coupon applicable to such Fixed Rate Obligation minus Term SOFR as then in effect (which spread or excess may be expressed as a negative percentage) multiplied by (b) the Principal Balance of such Collateral Loan.
Aggregate Funded Spread means, as of any date, in the case of each Collateral Obligation that is not a Fixed Rate Obligation (excluding the unfunded portion of any Delayed Drawdown Collateral Loan and any Revolving Collateral Loan)