Credit Default Swap Spread definition
Examples of Credit Default Swap Spread in a sentence
The Administrative Agent shall promptly give notice to the Borrower and each Lender of each determination of Adjusted LIBOR and the Credit Default Swap Spread, with respect to each Eurodollar Loan.
The Administrative Agent shall determine each interest rate applicable to the Loans hereunder insofar as such interest rate involves a determination of the Alternate Base Rate, Adjusted LIBOR, LIBOR Rate, Credit Default Swap Spread, Minimum Applicable Margin, or Maximum Applicable Margin, or any applicable default rate pursuant to Section 2.7, and such determination shall be conclusive and binding except in the case of the Administrative Agent’s manifest error or willful misconduct.
The Administrative Agent shall determine the Applicable Rate from time to time in accordance with the provisions set forth below: The "Euro-Currency Margin" is a rate per annum equal to the Credit Default Swap Spread at the applicable date of determination specified below, subject to the then applicable minimum and maximum rates which are set forth in the "Pricing Grid" below under the respective columns headed "Margin Floor" and "Margin Ceiling".
If on the next Business Day less than two Reference Banks submit a quotation to the Determination Agent, the Determination Agent shall determine the Credit Default Swap Spread in its reasonable discretion pursuant to § 315 of the German Civil Code on the following Business Day.
If at any time the Credit Default Swap Spread is unavailable, (i) the Administrative Agent shall notify the Borrower and the Lenders of such unavailability and (ii) the Borrower and the Lenders shall negotiate in good faith (for a period of up to thirty (30) days after the Credit Default Swap Spread becomes unavailable (such thirty-day period , the “Negotiation Period”)) to agree on an alternative method for establishing the Applicable LIBOR Rate.