Break Funding Amount shall have the meaning provided in Section 11.5.
Break Funding Amount. On any Optional Termination Date, Party A shall calculate the Break Funding Amount. If the Break Funding Amount is positive, then, in addition to any other amount then payable by Party B, Party B shall also pay to Party A, on such date, the Break Funding Amount. If the Break Funding Amount is negative, then Party A shall pay to Party B, on such date, the absolute value of the Break Funding Amount. For purposes, hereof, "Break Funding Amount" means the amount, determined by Party A in a commercially reasonable manner, equal to (1) the xxxx-to-market value to Party A as of the Optional Termination Date, of a swap incorporating the terms set out in the definition of Zero Coupon USD Swap Rate as if (i) Party A were the Floating Rate Payer, (ii) the Notional Amount were equal to the Initial Price multiplied by the Relevant Share Number; (iii) the original term of such swap were equal to the Term hereof, and (iv) no amounts then due under such swap remain unpaid, minus (2) an amount equal to the Relevant Share Number multiplied by the difference between the Zero Spread Forward Price calculated as of the relevant Optional Termination Date and the Initial Price, where "Zero Spread Forward Price " is calculated in the same manner as the Forward Price but for a Spread of 0%.
Break Funding Amount means the amount, determined by Party A in a commercially reasonable manner, equal to (1) the xxxx-to-market value to Party A as of the Optional Termination Date, of a swap incorporating the terms set out in the definition of Zero Coupon USD Swap Rate as if (i) Party A were the Floating Rate Payer, (ii) the Notional Amount were equal to the Initial Price multiplied by the Relevant Share Number; (iii) the original term of such swap were equal to the Term hereof, and (iv) no amounts then due under such swap remain unpaid, minus (2) an amount equal to the Relevant Share Number multiplied by the difference between the Zero Spread Forward Price calculated as of the relevant Optional Termination Date and the Initial Price, where "Zero Spread Forward Price " is calculated in the same manner as the Forward Price but for a Spread of 0%.
Examples of Break Funding Amount in a sentence
The Class A-1 Revolving Notes may be repaid (in whole or in part) at the option of the Issuer (at the direction of the Collateral Manager) from the liquidation of Eligible Investments in the Principal Collateral Account on any Business Day; provided, that the related Break Funding Amount, if any, shall be payable in accordance with the Quarterly Priority of Payments or the Maturity Date Priority of Payments, as applicable.
Please note that the Redemption Prices have been calculated using an estimate for the Break Funding Amount that utilizes the most recently available LIBOR in lieu of the LIBOR referenced in the definition of Break Funding Amount.
As such, the Redemption Prices may be updated when the applicable LIBOR is available for purposes of finalizing the calculation of the Break Funding Amount.
More Definitions of Break Funding Amount
Break Funding Amount means, in relation to any Further Senior Notes which are issued or any Unpaid Senior Notes to be exchanged for Paid Up Senior Notes other than on an Interest Payment Date and which will be consolidated and form a single series with any Senior Notes outstanding, an amount (which may be positive or negative) determined by the Investment Administrator on the Determination Date in accordance with the following formula:
Break Funding Amount means, with respect to each prepayment of the Class A-1 Revolving Notes, an amount (not less than zero) equal to the sum of (i) the product of (A) the positive difference, if any, between (I) LIBOR as of the immediately preceding LIBORDetermination Date and (II) LIBOR as of the second London Business Day prior to the date of such prepayment, (B) the amount of such prepayment and (C) a fraction, the numerator of which is the actual number of days from and including the date of such prepayment to but excluding the next succeeding Quarterly Payment Date and the denominator of which is 360 and (ii) interest accrued at the Class A Note Rate on the amount determined pursuant to clause (i) above from and including the date of the related prepayment to but excluding the date paid in accordance with the Quarterly Priority of Payments or the Maturity Date Priority of Payments, as applicable. Maturity Date Priority of Payments. On the Maturity Date, all CDO Assets and other Eligible Investments in the Principal Collateral Account and Interest Collateral Account shall be liquidated and the proceeds thereof, shall be distributed in the following order of priority ("Maturity Date Priority of Payments"):
Break Funding Amount means an amount equal to the present value (discounted at the Discount Rate defined below and determined by the Calculation Agent in a commercially reasonable manner) of the product of (1) the difference between the Floating Rate Option applicable to the then current Calculation Period and the Discount Rate, (2) the Relevant Share Number, (3) the Initial Price, and (4) a fraction the numerator of which is the number of days in the period commencing on and including the Final Settlement Date to but excluding the next Optional Termination Date and the denominator of which is 360. "Discount Rate" means the appropriate interpolated USD-LIBOR-BBA rate determined by the Calculation Agent as of the Final Settlement Date.
Break Funding Amount shall have the meaning provided in Section 7.6 of the Participation Agreement.
Break Funding Amount is defined in Section 5.10(b) of the Participation Agreement.
Break Funding Amount means any loss or out-of-pocket expense incurred (including any loss or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Participant to make, continue or maintain any portion of its investment in any Note or Certificate on a LIBO Rate basis) as a result of any payment of all or any portion of the Lease Balance, for any reason, on a date other than a Payment Date, including, without limitation, by reason of acceleration.
Break Funding Amount shall have the meaning provided in Section 7.5 of the Participation Agreement.