Applicable Fixed Rate Benchmark Period definition

Applicable Fixed Rate Benchmark Period means, (i) with respect to a Fixed Rate Loan having a Stated Maturity Date that is the third anniversary of the Applicable Loan Closing Date (each such Loan, a “Three-Year Fixed Rate Loan”), the period set forth in the table below corresponding to the Average Life of the Items of Eligible Collateral securing such Three-Year Fixed Rate Loan as of the Applicable Loan Closing Date: Applicable Fixed Rate Benchmark Period Average Life of Each Item is Less than One Year Average Life of Each Item is Less than Two Years, but the Row Above Does Not Apply 1 year 2 years Neither of the Above Rows Applies 3 years ; provided that the Applicable Fixed Rate Benchmark Period with respect to a Three-Year Fixed Rate Loan secured by SBA Collateral or CMBS Collateral shall be 3 years and (ii) with respect to a Fixed Rate Loan having a Stated Maturity Date that is the fifth anniversary of the Applicable Loan Closing Date, 5 years.
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Applicable Fixed Rate Benchmark Period means, (i) with respect to a Fixed Rate Loan having a Stated Maturity Date that is the third anniversary of the Applicable Loan Closing Date (each such Loan, a “Three-Year Fixed Rate Loan”), the period set forth in the table below corresponding to the Average Life of the Items of Eligible Collateral securing such Three-Year Fixed Rate Loan as of the Applicable Loan Closing Date: Average Life of Each Item of Eligible Collateral (as of Applicable Loan Closing Date) Applicable Fixed Rate Benchmark Period Average Life of Each Item is Less than One Year 1 year Average Life of Each Item is Less than Two Years, but the Row Above Does Not Apply 2 years Neither of the Above Rows Applies 3 years ; provided that the Applicable Fixed Rate Benchmark Period with respect to a Three-Year Fixed Rate Loan secured by SBA Collateral or CMBS Collateral shall be 3 years and (ii) with respect to a Fixed Rate Loan having a Stated Maturity Date that is the fifth anniversary of the Applicable Loan Closing Date, 5 years.
Sample 1
Applicable Fixed Rate Benchmark Period means, (i) with respect to a Fixed Rate Loan, means having a Stated Maturity Date that is the third anniversary of the Applicable Loan Closing Date (each such Loan, a “Three-Year Fixed Rate Loan”), the period set forth in the table below corresponding to the overall Weighted Average Life of the Items of Eligible Collateral securing such Three-Year Fixed Rate Loan as of the Applicable Loan Closing Date: Weighted Average Life of Each Item of Eligible Collateral (as of Applicable Loan Closing Date) Applicable Fixed Rate Benchmark Period Average Life of Each Item is Less than oneOne yearYear Greater than or equal to one yearAverage Life of Each Item is Less than Two Years, but less than two yearsthe Row Above Does Not Apply Greater than or equal to two yearsNeither of the Above Rows Applies 1 year 2 years 3 years ; provided that the Applicable Fixed Rate Benchmark Period with respect to a Three-Year Fixed Rate Loan secured by SBA Collateral shall be 3or CMBS Collateral shall be 3 years and (ii) with respect to a Fixed Rate Loan having a Stated Maturity Date that is the fifth anniversary of the Applicable Loan Closing Date, 5 years.
Sample 1

Related to Applicable Fixed Rate Benchmark Period

  • Initial Fixed Rate Period means the period commencing on the Issue Date and ending on and including June 30, 2020.

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on July 1, 2020 and ending on and including June 30, 2025 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including June 30 in the fifth year thereafter.

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • Base Rate Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Eurodollar Business Day means any Business Day on which major commercial banks are open for international business (including dealings in Dollar deposits) in New York, New York and London, England.

  • Quarterly Floating Rate Period means, for the initial Quarterly Floating Rate Period, the period commencing on September 20, 2018 and ending on and including December 19, 2018, and thereafter the period from and including the day immediately following the end of the immediately preceding Quarterly Floating Rate Period to but excluding the next succeeding Quarterly Commencement Date.

  • Eurodollar Period means, as to each Eurodollar Rate Loan, the period commencing on the date specified by Borrower pursuant to Section 2.1(b) and ending 1, 2, 3 or 6 months (or, with the written consent of all of the Lenders, any other period) thereafter, as specified by Borrower in the applicable Request for Loan; provided that:

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Applicable Interest Period for each Credit Facility has the meaning specified for that Credit Facility in the Credit Facility Schedule; provided, however, that, at any time that the Applicable Prime Rate is the Applicable Index Rate, Applicable Interest Period shall mean the period commencing as of the most recent Applicable Interest Rate Determination Date and continuing until the next Applicable Interest Rate Determination Date or such earlier date as the Applicable Prime Rate shall no longer be the Applicable Index Rate; and provided, further, that, at any time the Libor Rate Index is adjusted as set forth in the definition thereof, or re-implemented following invocation of the Applicable Prime Rate as permitted herein, the Applicable Interest Period shall mean the period commencing as of such adjustment or re-implementation and continuing until the next Applicable Interest Rate Determination Date, if any.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • LIBOR-Based Rate means, with respect to each Interest Period, the per annum interest rate equal to the London Interbank Offered Rate which appears on Telerate Page 3750 at approximately 11:00 a.m. (London time) two LIBOR Business Days prior to the first day of such Interest Period for deposits of United States dollars for a period of time comparable to the Interest Period, and in an amount comparable to the principal amount of the Loan, plus 0.35%.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period:

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Eurocurrency Base Rate means, for such Interest Period:

  • Reference Rate of Interest Event means, with respect to the Swap Rate or any subsequent Reference Rate of Interest (the "Reference Rate of Interest") one of the following events:

  • Interest Period End Date means the date or dates specified as such in, or determined in accordance with the provisions of, the Final Terms and, if an Applicable Business Day Convention is specified in the Final Terms, as the same may be adjusted in accordance with the Applicable Business Day Convention or, if the Applicable Business Day Convention is the FRN Convention and an interval of a number of calendar months is specified in the Final Terms as the Interest Accrual Period, such dates as may occur in accordance with the FRN Convention at such specified period of calendar months following the Interest Commencement Date (in the case of the first Interest Period End Date) or the previous Interest Period End Date (in any other case) or, if none of the foregoing is specified in the Final Terms, means the date or each of the dates which correspond with the Interest Payment Date(s) in respect of the Instruments.

  • Designated LIBOR Currency means the currency specified on the face hereof as to which LIBOR shall be calculated or, if no such currency is specified on the face hereof, United States dollars.

  • Reference Rate Determination Date means, in relation to any Reference Rate Business Day(i):

  • Designated Eurodollar Market means, with respect to any Eurodollar Rate Loan, the London Eurodollar Market.

  • Subsequent Rate Period means, with respect to any Series of RVMTP Shares, the period consisting of seven calendar days, but adjusted in each case to reflect any changes when the regular calendar day that is a Rate Determination Date is not a Business Day, from, and including, the first calendar day following the Initial Rate Period of such Series to, and including, the next Rate Determination Date for such Series and any period thereafter from, and including, the first calendar day following a Rate Determination Date for shares of such Series to, and including, the next succeeding Rate Determination Date for shares of such Series.

  • Impacted Interest Period has the meaning assigned to such term in the definition of “LIBO Rate”.

  • LIBOR Business Day Any day on which banks in London, England and The City of New York are open and conducting transactions in foreign currency and exchange.