Breakage Gains definition

Breakage Gains means the amount of gain actually realized by any holder of Preferred Securities (as reasonably determined by such holder), directly associated or incurred in connection with unwinding, terminating, modifying or otherwise breaking any interest rate swap or other interest rate hedging arrangement entered into with respect to the interest rate on the Preferred Securities prior to the expiration of the Fixed Rate Period where such unwinding, termination, modification or breaking is caused by the payment of principal on the Securities prior to the expiration of the Fixed Rate Period.

Breakage Gains means the amount (if any) by which: 2.2.18.1 the amount which a Lender would be able to obtain by placing an amount equal to the principal amount or Unpaid Sum received by it on deposit with a leading bank in the Johannesburg interbank market for a period starting on the Business Day following receipt or recovery and ending on the last day of the current Interest Period; exceeds: 2.2.18.2 the interest (excluding any margin) which a Lender should have received for the period from the date of receipt of all or any part of its participation in a Loan or Unpaid Sum to the last day of the current Interest Period in respect of that Loan or Unpaid Sum, had the principal amount or Unpaid Sum received been paid on the last day of that Interest Period;

Breakage Gains means the amount of gain actually realized by any Holder of Senior Notes (as determined by such Holder), directly associated or incurred in connection with unwinding, terminating, modifying or otherwise breaking any interest rate swap or other interest rate hedging arrangement entered into with respect to the interest rate on the Senior Notes prior to the expiration of the Fixed Rate Period where such unwinding, termination, modification or breaking is caused by the payment or defeasance of principal on the Senior Notes prior to the expiration of the Fixed Rate Period in connection with a Change-of-Control Election.

Examples of Breakage Gains in a sentence

• When calculating the Total Compensation Amount, Senior Debt Compensation and Senior Debt Liabilities (including Breakage Costs) for the purposes of this clause 6.6, Breakage Costs and Breakage Gains will be calculated as if the DA Approved Hedging had terminated on the Discontinuation Date.

• Use of personal leave days is unrestricted with the exception of all Fridays and the month of May, both of which require a specific reason and administrative approval.

• If the Company prepays the principal amount of the Securities prior to the expiration of the Fixed Rate Period, the Company shall pay to the applicable Holders all Breakage Costs, less Breakage Gains, resulting from such prepayment.

• On the Delivery Date the Owners shall grant the Mortgages, the Owners, the Parent and the Bareboat Charterer shall grant the other Security Documents (to which each is a party), and the Owner Trust shall grant a security interest in its rights, title and interest in and to the Collateral, including the Finance Lease, the Operating Lease and any Swap Breakage Gains under the Swap Agreement in favor of the Collateral Trustee.

• Any prepayment under this Agreement shall be made together with accrued interest on the amount prepaid and, subject to the addition of any Breakage Costs or the deduction of Breakage Gains by the Agent.

More Definitions of Breakage Gains

Breakage Gains has the meaning given to it in clause 5.2(b)(ii);

Breakage Gains means the amount (if any) by which the amount of interest contemplated in above e ceeds that in 1.9.1 above;

Breakage Gains means such amounts referred to in clause 20.1.2;

Breakage Gains means the amount (if any) by which the amount referred to in Clause 1.1.

Breakage Gains means the amount (if any) by which: 2.2.16.1 the amount which that Lender would be able to obtain by placing an amount equal to the amount then due or Unpaid Sum received by it on deposit with a leading bank in the Johannesburg interbank market for a period starting on the Business Day following receipt or recovery and ending on the last day of the current Interest Period; exceeds: 2.2.16.2 the interest which a Lender should have received for the period from the date of receipt of all or any part of its participation in the Advance or Unpaid Sum to the last day of the current Interest Period in respect of the Advance or Unpaid Sum, had the amount then due or Unpaid Sum received been paid on the last day of that Interest Period;

Breakage Gains means any gains or increased receipts which ATIS may receive as a result of any cancellation of this Agreement or full or partial pre-payment by the Borrower of the Outstanding Balance prior to the Final Repayment Date of the Loan;

Breakage Gains means the aggregate of all gains and profits received by a Class A Preference Shareholder and/or Class B Preference Shareholder pursuant to the premature termination, unwinding, closing-out or modification of any underlying hedge instrument or funding instrument necessitated by a payment being made in respect of the Class A Preference Shares and/or Class B Preference Shares (as the case may be) other than in accordance with the Payment Schedule less all costs and expenses actually incurred by that Class A Preference Shareholder and/or Class B Preference Shareholder (as the case may be) in relation thereto;