Current Spread means a per annum percentage rate as determined by the Calculation Agent having regard to the Financing Level Currency, prevailing market conditions and such other factors as the Calculation Agent determines to be relevant. The Calculation Agent may adjust the Current Spread on each Reset Date, but in any event, the Current Spread will not exceed the “Maximum Spread” (as specified in the definition of the relevant Series) per annum (save that if, in the sole discretion of the Calculation Agent, at any time the market rate for borrowing the Index or hedging the Securities with futures materially exceeds such market rate as of the Issue Date, the Maximum Spread may be increased to reflect this change). The Current Spread on the Issue Date is the spread specified as such in the definition of the relevant Series;
Current Spread means the rate (expressed as a percentage rate per annum) as determined by theCalculation Agent having regard to the Financing Level Currency, prevailing market conditions and such other factors as the Calculation Agent determines to be relevant. The Current Spread may be reset on a Reset Date, subject to the “Maximum Spread” (as specified in the applicable Final Terms) per annum (save that if, in the sole discretion of the Calculation Agent, at any time the market rate for borrowing the Share or hedging the Certificates with futures materially exceeds such market rate as of the Trade Date, the Current Spread and/or Maximum Spread may be increased to reflect this change). The Current Spread on the Trade Date is the spread specified as such in the applicable Final Terms.
Current Spread means a per annum percentage rate as determined by the Calculation Agent having regard to the Financing Level Currency, prevailing market conditions including (but not limited to) the liquidity of the global financial markets, the availability and cost of capital and credit, interest rates, the imposition or announcement of any (additional) legislation and/or regulation, which requires higher capital ratio requirements for banks and such other factors as the Calculation Agent determines to be relevant. The Current Spread will not exceed the “Maximum Spread” (as specified in the definition of the relevant Series in the applicable Final Terms) per annum (save that if, in the sole discretion of the Calculation Agent, at any time the market rate for borrowing the Shares or hedging the Securities with futures materially exceeds such market rate as at the Launch Date, the Current Spread may be increased to reflect this change but the Maximum Spread is fixed and may not be increased). The Current Spread on the Launch Date is the spread specified as such in the definition of the relevant Series in the applicable Final Terms;
Examples of Current Spread in a sentence
If on any Business Day a Current Spread Reserve Account Deposit Event is not then continuing and all outstanding indemnity payments payable to Purchaser Indemnitees have been paid in full, Seller may direct the Bank to distribute any remaining funds in the Current Spread Reserve Account to, or as directed by, Seller.
The Current Spread Reserve Account will be established pursuant to the Current Spread Reserve Account Control Agreement with respect to which Purchaser is an Entitlement Holder with Control.
If there are any funds remaining in the Current Spread Reserve Account after the Current Excess Servicing Spread and all indemnity payments payable to Purchaser Indemnitees have been paid in full, Seller shall direct the Bank to distribute such remaining funds to, or as directed by, Seller.
On any Business Day, at the instruction of Purchaser, Seller shall direct the Bank to apply funds in the Current Spread Reserve Account, if any, to the payment of indemnity payments payable to a Purchaser Indemnitee pursuant to Section 11.01.
So long as permitted by the Current Spread Reserve Account Control Agreement, Seller may direct the disposition of funds in the Current Spread Reserve Account strictly in accordance with Section 3.05.
More Definitions of Current Spread
Current Spread means, as of any date of determination, (i) with respect to any Collateral Debt Security which is a floating rate Collateral Debt Security, the stated spread above or below LIBOR at which interest accrues on such floating rate Collateral Debt Security, (ii) with respect to any Collateral Debt Security which is a Deemed Floating Rate Collateral Debt Security, the Deemed Floating Spread, each related to such Deemed Floating Rate Collateral Debt Security.
Current Spread means a per annum percentage rate as determined by the Index Sponsor having regard to PLN, prevailing marketconditions and such other factors as the Index Sponsor determines to be relevant. The Index Sponsor may adjust the Current Spread on each Reset Date, but in any event, the Current Spread will not exceed the “Maximum Spread” of 7% per annum nor fall below the “Minimum Spread” of 0.0% per annum. The Current Spread on the Issue Date is 2.0%;
Current Spread means, as of any date of determination, (a) with respect to any Floating Rate Security (other than a Hybrid Security), the stated spread above or below the London interbank offered rate or other applicable floating rate index for such Floating Rate Security at which interest accrues on such Floating Rate Security, (b) with respect to any Deemed Floating Rate Security, the Deemed Floating Rate plus the Deemed Floating Spread, each related to such Deemed Floating Rate Security and (c) with respect to any Hybrid Security after the Reset Date, the Current Spread (as determined by the Collateral Advisor on behalf of the Issuer pursuant to the next sentence). For the purpose of this definition, in the case of a Floating Rate Security which does not provide for the payment of interest based on a stated spread over the London interbank offered rate or a Hybrid Security after the Reset Date, the Collateral Advisor shall determine (and inform the Issuer and the Trustee of) the Current Spread as the difference between the applicable interest rate payable on such Collateral Debt Security and LIBOR, with LIBOR to be determined in accordance with Schedule B or, if the Collateral Advisor determines that it more accurately reflects the rate applicable to the security, to be determined as if such Floating Rate Security or Hybrid Security after the Reset Date were a Note and using an Interest Period based on the terms of such Floating Rate Security or Hybrid Security after the Reset Date.
Current Spread means 0.75% provided that if, in respect of any Calculation Date, the Value of Cash Component is zero or has a positive value, the Current Spread for such Calculation Date shall be minus 0.125% (- 0.125%);
Current Spread means 0.50% per annum provided that if, in respect of any Calculation Date (CD(t)), the Value of Cash Component as at CD(t) is zero or has a positive value, the Current Spread for CD(t) shall be -0.10% (minus 0.10%);
Current Spread means 0.80% provided that if, in respect of any Calculation Date, the value of Cash Component is zero or has a positive value, the Current Spread for such Calculation Date shall be -0.10% (minus 0.10%);
Current Spread means, as of any date of determination, (i) with respect to any Collateral Debt Security which is a Floating Rate Collateral Debt Security (other than a Synthetic Security), the stated spread above LIBOR at which interest accrues on such Floating Rate Collateral Debt Security and (ii) with respect to any Collateral Debt Security which is a Deemed Floating Rate Collateral Debt Security, the Deemed Floating Rate plus the Deemed Floating Spread, each related to such Deemed Floating Rate Collateral Debt Security; provided that the Current Spread of a Non-Libor Floating Rate Collateral Debt Security shall be calculated net of LIBOR; provided, further that the Current Spread of a Step-Up Security or a Step-Down Security shall be the interest rate or the spread over the applicable index or benchmark as of the date of determination.