Alternate Rate Spread Adjustment definition

Alternate Rate Spread Adjustment means the first alternative set forth in the order below that can be determined by Buyer as of the Benchmark Replacement Date:
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Alternate Rate Spread Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Alternate Index Rate, an amount (which may be a positive or negative value or zero) equal to the difference (expressed as the number of basis points) between (1) the average value of the then-current Benchmark during the ninety (90) day period ending as of the most recent Determination Date for which such Benchmark was available and (2) the average value of the applicable Unadjusted Alternate Index Rate during such period.
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Alternate Rate Spread Adjustment. As defined in the Mortgage Loan Agreement.
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More Definitions of Alternate Rate Spread Adjustment

Alternate Rate Spread Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Alternate Index Rate, the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero) that has been selected by Administrative Agent giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Alternate Index Rate by the Relevant Governmental Body or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Alternate Index Rate for U.S. dollar-denominated floating rate balance sheet loans at such time with sponsors similar to Blackstone Sponsor.
Sample 1
Alternate Rate Spread Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Alternate Index Rate, the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero) that has been selected by Class A Lender giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Alternate Index Rate by the Relevant Governmental Body or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Alternate Index Rate for U.S. dollar-denominated floating rate commercial real estate loans with similarly situated counterparties at such time.
Sample 1
Alternate Rate Spread Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Alternate Index Rate, the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero) that has been selected by Administrative Agent giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Alternate Index Rate by the Relevant Governmental Body or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Alternate Index Rate for U.S. dollar- denominated floating rate balance sheet loans at such time with sponsors similar to Blackstone Sponsor.
Sample 1
Alternate Rate Spread Adjustment means, in connection with any conversion of a Transaction in accordance with the terms hereof to an Alternate Rate Transaction, a spread adjustment as determined by Buyer in its sole but good faith determination at the time of conversion, (which may be positive, negative or zero) equal to (1) (x) if the Transaction is being converted from a LIBOR Transaction to an Alternate Rate Transaction, the daily average of LIBOR (with a floor of zero percent) or (y) if the Transaction is being converted from a Prime Rate Transaction to an Alternate Rate Transaction, the daily average of the Prime Index Rate (with a floor of zero percent), in either case of (x) or (y), as applicable, over the one hundred eighty (180) day period (excluding days within such 180 day period that are not Business Days) ending two (2) Business Days prior to the date of conversion (excluding from such average the five (5) highest days and the five (5) lowest days during such one hundred eighty (180) day period), minus (2) the daily average of the Alternate Index (with a floor of zero percent) over the one hundred eighty (180) day period (or such shorter period to the extent such historical rates are not available, and excluding days within such one hundred eighty (180) day or shorter period that are not Business Days), ending two (2) Business Days prior to the date of conversion (excluding from such average, if such period of averaging exceeds thirty (30) days, the five (5) highest days and the five (5) lowest days during such one hundred eighty (180) day period). Notwithstanding the foregoing, Buyer may elect, in its sole but good faith discretion, to apply its or any then customary alternate rate index and/or spread adjustment methodology, applied at the time of conversion of a Transaction to an Alternate Rate Transaction, then commonly used by Buyer for commercial real repurchase facilities similar in size and character to this Agreement and the transactions included therein in lieu of the actual calculation as provided above.
Sample 1

Related to Alternate Rate Spread Adjustment

  • Alternate Rate means, for any day, the sum of (a) a rate per annum selected by the Administrative Agent, in its reasonable discretion based on market conditions in consultation with the Company (and any applicable Subsidiary Borrower) and the relevant Lenders, plus (b) the Applicable Margin for Eurocurrency Loans. When used in reference to any Loan, “Alternate Rate” refers to whether such Loan is bearing interest at a rate determined by reference to the Alternate Rate.

  • Weighted Average Adjusted Net Mortgage Rate For any Distribution Date and Loan Group, the average of the Adjusted Net Mortgage Rate of each Mortgage Loan in that Loan Group, weighted on the basis of its Stated Principal Balance as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date).

  • LIBOR Rate Adjustment Date With respect to each Distribution Date, the second LIBOR Business Day immediately preceding the commencement of the related Interest Accrual Period.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Spread Adjustment means 100 basis points.

  • Interest Rate Adjustment Date With respect to each Adjustable Rate Mortgage Loan, the date, specified in the related Mortgage Note and the related Mortgage Loan Schedule, on which the Mortgage Interest Rate is adjusted.

  • LIBOR Adjustment Date With respect to any Payment Date, the second business day before the related Accrual Period begins. For this purpose, a “business day” is a day on which banks are open for dealing in foreign currency and exchange in London, New York City and Washington, D.

  • Substitute Reference Rate of Interest Adjustments means such adjustments as are determined by the Issuer to be consistent with enabling the correct functioning of the Substitute Reference Rate of Interest (which may include, without limitation, adjustments to the applicable screen page, Business Day Convention, the definition of Business Day, the Interest Determination Date, the Day Count Fraction or any method or definition for obtaining or calculating the Substitute Reference Rate of Interest).

  • Adjusted Net Maximum Mortgage Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed-Rate Mortgage Loan) as of the first day of the month preceding the month in which the related Distribution Date occurs minus the sum of (i) the Trustee Fee Rate and (ii) the Servicing Fee Rate.

  • Adjusted Net Mortgage Rate As to each Mortgage Loan and at any time, the per annum rate equal to the Mortgage Rate less the Expense Fee Rate.

  • Interest Adjustment Rate means the interest adjustment rate assigned to the Security. The initial Interest Adjustment Rate is the interest adjustment rate specified in the Table (the "Initial Interest Adjustment Rate").The Issuer may adjust, in its reasonable discretion pursuant to §315 BGB and in consideration of the relevant capital market practice and by acting in good faith (including market interest rates and the interest-rate expectations of the market), the Interest Adjustment Rate, including the Initial Interest Adjustment Rate, on any Scheduled Trading Day within the range (deviation (+) or (-)) specified in the Table for any given Security. The adjusted rate will be published without undue delay in accordance with §12.

  • Credit Adjustment shall have the meaning specified in Section 3.02.

  • Weighted Average Net Mortgage Rate With respect to any Distribution Date, the weighted average of the applicable Net Mortgage Rates of the Mortgage Loans as of the first day of the related Due Period, weighted on the basis of their respective Stated Principal Balances as of the first day of such Due Period (after giving effect to any payments received during any applicable grace period).

  • SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread to be applied to the SNB Policy Rate in order to reduce or eliminate, to the extent reasonably practicable under the circumstances, any economic prejudice or benefit (as applicable) to Noteholders as a result of the replacement of the Swiss Average Rate Overnight with the SNB Policy Rate for purposes of determining SARON, which spread will be determined by the Calculation Agent, acting in good faith and a commercially reasonable manner, taking into account the historical median between the Swiss Average Rate Overnight and the SNB Policy Rate during the two year period ending on the date on which the SARON Index Cessation Event occurred (or, if more than one SARON Index Cessation Event has occurred, the date on which the first of such events occurred).

  • Adjusted Eurodollar Rate means for any Interest Period with respect to any Eurodollar Loan, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to (a) the Eurodollar Rate for such Interest Period multiplied by (b) the Statutory Reserves.

  • Daily Adjusting LIBOR Rate means, for any day, a per annum interest rate which is equal to the quotient of the following:

  • Applicable Advance Rate For each Collateral Obligation and for the applicable number of Business Days between the certification date for a sale or participation required by Section 9.4 and the expected date of such sale or participation, the percentage specified below: Senior Secured Loans with a Market Value of: 90% or more of par 100 % 93 % 92 % 88 % Below 90% of par 100 % 80 % 73 % 60 % Other Collateral Obligations with a Xxxxx’x Rating of at least “B3” and a Market Value of 90% or more of par 100 % 89 % 85 % 75 % All other Collateral Obligations 100 % 75 % 65 % 45 %

  • Rate Adjustment Date With respect to each ARM Loan, the date on which the Note Rate adjusts.

  • Pricing Rate the per annum percentage rate for determination of the Price Differential;

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • Substitute Rate shall have the meaning set forth in Section 2.2.3(b).

  • Subsequent Interest Period has the meaning specified in Section 307.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • Eurodollar Rate (Reserve Adjusted) means, with respect to any Eurodollar Loan for any Interest Period, a rate per annum (rounded upwards, if necessary, to the nearest 1/16th of 1%) determined pursuant to the following formula: Eurodollar Rate = Eurodollar Rate (Reserve Adjusted) 1-Eurocurrency Reserve Percentage.

  • Adjusted CD Rate has the meaning set forth in Section 2.07(b).

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.