Break Funding Cost definition
Break Funding Cost means, in cases where the principal is repaid or set off before the Due Date of the Individual Loan, and where the Reinvestment Rate falls below the Applicable Interest Rate for such Individual Loan, the amount calculated as the principal amount with respect to which such repayment or set-off was made, multiplied by (i) the difference between the Reinvestment Rate and the Base Rate, such difference then divided by 365, and (ii) the actual number of days of the Remaining Period. “Remaining Period” means the period commencing on the day the repayment or set-off was made and ending on the Due Date, and the “Reinvestment Rate” means the interest rate reasonably determined by the Lender as the interest rate to be applied on the assumption that the prepaid or off-set principal amount will be reinvested in the Tokyo Interbank Market during the Remaining Period. The calculation method for such Break Funding Cost shall be on a per diem basis, inclusive of first day and exclusive of last day, assuming that there are 365 days per year, wherein divisions shall be done at the end of the calculation, and fractions less than one Yen shall be rounded down.
Break Funding Cost means the amount (if any) calculated as follows:(Actual Fixed Term SOFR in basis points - USD Term SOFR for the remaining period in basis points) X Average Lease Outstanding / number of days in remaining period = Settlement in USD per day, for each day remaining in the relevant period.
Break Funding Cost means the amount (if any) calculated as follows:(Actual Fixed LIBOR in basis points - USD LIBOR for the remaining period in basis points) X Average Lease Outstanding / number of days in remaining period = Settlement in USD per day, for each day remaining in the Relevant Period.
Examples of Break Funding Cost in a sentence
The interest, Break Funding Cost and default interest and others for the receivables and obligations involved in such a set-off or application to payment shall be calculated up to the time of such calculation, and in such calculation, the interest rate and default interest rate shall be in accordance with each agreement, and the foreign exchange rate at the time such calculation is made, as reasonably determined by the Lender, shall be applied.
If there remains an Individual Loan with a Due Date that falls after the Desired Termination Date, the Lender shall notify the Borrower of the Break Funding Cost associated therewith no later than one (1) Business Day prior to the Desired Termination Date.
If the Prepayment is approved by the Lender, the Lender shall notify the Borrower of the Break Funding Cost no later than two (2) Business Days prior to the Desired Prepayment Date.
The Borrower shall pay, in accordance with Section 14, the total of the principal, the Accrued Interest and the Break Funding Cost in respect of the Loan to be prepaid on the Desired Prepayment Date.
The interest, Break Funding Cost and default interest and other payment for the receivables and obligations involved in such a set-off or application to payment shall be calculated on the premise that such receivables and obligations shall be extinguished on the day of such calculation.
More Definitions of Break Funding Cost
Break Funding Cost means, in cases where the principal is repaid or set off on a day other than the Due Date of the Individual Loan B, and where the Reinvestment Rate in such case falls below the Applicable Interest Rate B, the amount calculated as the principal amount with respect to which such repayment or set-off was made, multiplied by the difference between the Reinvestment Rate and the Applicable Interest Rate B, and calculated on a per diem basis in accordance with the actual number of days of the Remaining Period. “Remaining Period” in this item means the period commencing on the day (inclusive) the repayment or set-off was made and ending on the Repayment Date (exclusive), and the “Reinvestment Rate” in this item means the interest rate reasonably determined by the Lenders B as the interest rate to be applied on the assumption that the prepaid or off-set principal amount will be reinvested in the Tokyo Interbank Market during the Remaining Period. The calculation method for such Break Funding Cost shall be on a per diem basis, assuming that there are 365 days per year, wherein divisions shall be done at the end of the calculation, and fractions less than one yen shall be rounded down.
Break Funding Cost means, in the cases where the principal of a Loan is repaid or set off (including the cases where the guarantee obligations owed by any Guarantor with respect to the principal of a Loan is repaid or set off; the same shall apply hereinafter in this Item 18) on any day other than an Interest Payment Date, and where the Reinvestment Rate falls below the Base Rate for the Interest Calculation Period to which the date of such repayment or set-off belongs, the amount calculated as the principal amount with respect to which such repayment or set-off was made, multiplied by (i) the difference Term Loan Agreement for Equinix Japan K.K. dated September 30, 20163 between the Reinvestment Rate and the Base Rate and (ii) the actual number of days of the Remaining Period; provided, however, that such amount shall be within the range not in violation of the Laws and Ordinances. “Remaining Period” means the period commencing on the day on which the repayment or set-off was made and ending on the next Interest Payment Date, and the “Reinvestment Rate” means the interest rate reasonably determined by the relevant Lender as the interest rate to be applied on the assumption that the prepaid or set off principal amount will be reinvested in the Tokyo interbank market during the Remaining Period. Such Break Funding Cost shall be calculated on a day-to-day basis, inclusive of the first day and exclusive of the last day, and on the basis of a year of 365 days, wherein divisions shall be done at the end of the calculation, and fractions less than one yen (JPY 1) shall be rounded down.
Break Funding Cost means, in cases where the principal is repaid or set off before the Due Date of the Individual Loan, and where the Reinvestment Rate falls below the Applicable Interest Rate, the amount calculated as the principal amount with respect to which such repayment or set-off was made, multiplied by (i) the difference between the Reinvestment Rate and the Applicable Interest Rate, and (ii) the actual number of days of the Remaining Period. “Remaining Period” means the period commencing on the day the repayment or set-off was made and ending on the Interest Payment Date coming immediately thereafter, and the “Reinvestment Rate” means the interest rate reasonably determined by the Lenders as the interest rate to be applied on the assumption that the prepaid or off-set principal amount will be reinvested in the Tokyo Interbank Market during the Remaining Period. The calculation method for such Break Funding Cost shall be on a per diem basis, inclusive of first day and exclusive of last day, assuming that there are 365 days per year, wherein divisions shall be done at the end of the calculation, and fractions less than one yen shall be rounded down.
Break Funding Cost means, for any Series A Certificate, the amount ------------------ equal to the sum of LIBOR Break Amount and Swap Break Amount for such Series A Certificate.
Break Funding Cost means, in cases where the principal is repaid or set off before the Due Date of the Individual Loan, and where the Reinvestment Rate falls below the Applicable Interest Rate for such Individual Loan, the amount calculated as the principal amount with respect to which such repayment or set-off was made, multiplied by (i) the difference between the Reinvestment Rate and the Base Rate, such difference then divided by 365, and (ii) the actual number of days of the Remaining Period. “Remaining Period” means the period commencing on the day the repayment or set-off was made and ending on
Break Funding Cost means the following (i) or (ii):
(i) In cases where the principal is repaid or set off before the Due Date of any Individual Loan, and where the Reinvestment Rate falls below the Applicable Interest Rate applicable at the time of such repayment or set-off, an amount calculated by multiplying such prepaid or off-set amount by the difference between the Reinvestment Rate and such Applicable Interest Rate and by the actual number of days of the Remaining Period. The “Remaining Period” means the period commencing on the day the repayment or set-off was made ending on the immediately following Interest Payment Date, and the “Reinvestment Rate” means an interest rate reasonably determined by the Lender as the interest rate to be applied on the assumption that the prepaid or off-set principal amount will be reinvested in the Tokyo Interbank Market, the London Interbank Market or any other interbank market concerned during the Remaining Period. The calculation method for such Break Funding Cost shall be on a per diem basis, inclusive of first day and exclusive of last day, wherein divisions shall be done at the end of the calculation, and fractions less than one yen (or, as for Tranche B, less than USD 0.01) shall be rounded down. If the day on which the prepayment or set-off is made is the Interest Payment Date, no Break Funding Cost shall accrue.
Break Funding Cost means, in cases where the principal is repaid or set off on a