Assumed Interest Expense definition
Assumed Interest Expense means, as of any date, the product of (a) the aggregate amount of all Unsecured Debt of the Companies as of such date, times (b) the weighted average interest rate per annum on all such Unsecured Debt as of such date.
Assumed Interest Expense means, with respect to any period, the aggregate of (x) the amount of interest projected to be payable during such period hereunder (based on the actual rate established hereunder during any current Interest Period or a reasonable published or third party proprietary forward rate in respect of any future Interest Period) plus or minus (y) the aggregate amount payable by or to the Borrower in accordance with each Rate Swap Transaction entered into in accordance with Section 7.26 of this Credit Agreement during such period.
Assumed Interest Expense means, with respect to each immediately preceeding four (4) Fiscal Quarters, an amount equal to the product of the Principal Amount (as of the last day of the immediately preceding Fiscal Quarter) by the greater of (A) seven percent (7%), or (B) the weighted average Applicable Base Rate or Applicable LIBO Rate, as applicable, then applicable under the Loan (which constant, in each case shall be calculated at all times using an actual/360 accrual convention). Bankruptcy Code shall mean Title 11, U.S.C.A., as amended from time to time and any successor statute thereto. Base Rate shall mean on any day the highest of: (a) the Prime Rate in effect on such day, (b) the sum of the Federal Funds Rate in effect on such day plus one half of one percent (0.50%), and (c) the Reserve Adjusted LIBO Rate in effect on such day plus one half of one percent (0.50%).
More Definitions of Assumed Interest Expense
Assumed Interest Expense means, as of any Testing Determination Date, the product of (a) the outstanding principal amount of the Loan and (b) a percentage equal to the Assumed Interest Rate.
Assumed Interest Expense means, with respect to each immediately preceding four (4) Fiscal Quarters, an amount equal to the product of the Principal Amount (as of the last day of the immediately preceding Fiscal Quarter) by the greater of (A) seven percent (7%), or (B) the weighted average Applicable Base Rate or Applicable LIBO Rate, as applicable, then applicable under the Loan (which constant, in each case shall be calculated at all times using an actual/360 accrual convention). Bankruptcy Code shall mean Title 11, U.S.C.A., as amended from time to time and any successor statute thereto.
Assumed Interest Expense means, with respect to the immediately preceding twelve (12) calendar months, an amount equal to the product of the Principal Amount then outstanding multiplied by the greater of (A) (i) with respect to the calculation of DSCR in connection with entering into an Extension Interest Rate Cap Agreement, the proposed LIBOR Cap Strike Rate and (ii) in all other cases, seven percent (7%), or (B) the weighted average Applicable Base Rate or Applicable LIBO Rate, as applicable, then applicable under the Loan (which constant, in each case shall be calculated at all times using an actual/360 accrual convention).
Assumed Interest Expense means an amount equal to the product of the Principal Amount (as of the last day of the immediately preceding Fiscal Quarter) by the greater of (A) seven and one-half percent (7.5%), (B) the weighted average Applicable Base Rate or Applicable LIBO Rate, as applicable, then applicable under the Loan (which constant, in each case shall be calculated at all times using an actual/360 accrual convention) and (C) a mortgage debt constant for a loan calculated using a per annum interest rate equal to the yield on a ten (10) year United States Treasury Note (at such time as determined by Administrative Agent) plus three and one-half percent (3.5%) and amortizing in full in a twenty-five (25) year period; provided that when determining the minimum strike rate for the hedging requirement, Assumed Interest Expense shall mean the LIBO Rate Spread plus the LIBOR Cap Strike Rate. Bankruptcy Code shall mean Title 11, U.S.C.A., as amended from time to time and any successor statute thereto.