Designated Interest Rate means the weighted average Past Due Rate (as defined in the applicable Indentures) except with respect to that portion of any Final Drawing (or Applied Downgrade Advance which becomes a Final Drawing) which remains in a Cash Collateral Account, Designated Interest Rate means the weighted average Investment Earnings of funds in the Cash Collateral Accounts. As used in this Section, a Payment Default when used in connection with a Secured Certificate or Equipment Note means a default in the payment of principal thereof or interest thereon which has not been cured other than solely because of acceleration. The following terms are used in this Section as defined in the Intercreditor Agreement without regard to any amendment, modification or supplement thereto after the Closing Date: Cash Collateral Account, Equipment Notes, Final Drawing, Indentures, Interest Drawing and Investment Earnings. The Secured Certificates shall be executed on behalf of the Owner Trustee by its President or one of its Vice Presidents, Assistant Vice Presidents or Assistant Secretaries or other authorized officer. Secured Certificates bearing the signatures of individuals who were at any time the proper officers of the Owner Trustee shall bind the Owner Trustee, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Secured Certificates or did not hold such offices at the respective dates of such Secured Certificates. The Owner Trustee may from time to time execute and deliver Secured Certificates with respect to the Aircraft to the Indenture Trustee for authentication upon original issue and such Secured Certificates shall thereupon be authenticated and delivered by the Indenture Trustee upon the written request of the Owner Trustee signed by a Vice President or Assistant Vice President or other authorized officer of the Owner Trustee; provided, however, that each such request shall specify the aggregate Principal Amount of all Secured Certificates to be authenticated hereunder on original issue with respect to the Aircraft. No Secured Certificate shall be secured by or entitled to any benefit under this Trust Indenture or be valid or obligatory for any purposes, unless there appears on such Secured Certificate a certificate of authentication in the form provided for herein executed by the Indenture Trustee by the manual signature of one of its authorized officers and such certificate upon any Secured Cer...
Designated Interest Rate means the weighted average Past Due Rate (as defined in the applicable Indentures) in respect of "Series A Equipment Notes," "Series B Equipment Notes" and "Series C Equipment Notes" issued under the Indentures, except with respect to that portion of any Final Drawing (or Downgrade Drawing which becomes a Final Drawing) which remains in a Cash Collateral Account, Designated Interest Rate means the weighted average Investment Earnings of funds in the Cash Collateral Accounts. As used in this Section 2.02, a "Payment Default" when used in connection with an "Equipment Note" issued under an Indenture means a default in the payment of principal thereof or interest thereon, other than a default in the payment of principal or interest on a "Series D Equipment Note" issued under the Indentures which has not been cured other than solely because of acceleration. For purposes of Section 3.04(b) hereof, this is the fourth paragraph of Section 2.02. The Equipment Notes shall be executed on behalf of the Owner Trustee by its President or one of its Vice Presidents, Assistant Vice Presidents or Assistant Secretaries or other authorized officer. Equipment Notes bearing the signatures of individuals who were at any time the proper officers of the Owner Trustee shall bind the Owner Trustee, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Equipment Notes or did not hold such offices at the respective dates of such Equipment Notes. The Owner Trustee may from time to time execute and deliver Equipment Notes with respect to the Aircraft to the Indenture Trustee for authentication upon original issue and such Equipment Notes shall thereupon be authenticated and delivered by the Indenture Trustee upon the written request of the Owner Trustee signed by a Vice President or Assistant Vice President or other authorized officer of the Owner Trustee; provided, however,
Designated Interest Rate means the weighted average Investment Earnings of funds in the Cash Collateral Accounts. As used in this Section 2.02, a "Payment Default" when used in connection with an "Equipment Note" issued under an Indenture means a default in the payment of principal thereof or interest thereon, other than a default in the payment of principal or interest on a "Series D Equipment Note" or "Series E Equipment Note" issued under the Indentures which has not been cured other than solely because of acceleration. For purposes of Section 3.04(b) hereof, this is the fourth paragraph of Section 2.02. The Equipment Notes shall be executed on behalf of the Owner Trustee by its President or one of its Vice Presidents, Assistant Vice Presidents or Assistant Secretaries or other authorized officer. Equipment Notes bearing the signatures of Trust Indenture
Examples of Designated Interest Rate in a sentence
It is understood and agreed that the first Interest Period shall begin on the Consent and Amendment Effective Date and end on the last day of the same calendar month and shall bear interest at a rate equal to clause (i) of the definition of Designated Interest Rate.
Designated Interest Rate for each Interest Period shall be determined as of two (2) Business Days prior to the first calendar day of each calendar month; provided that if such day is not a Business Day, such determination shall be made on the immediate succeeding Business Day.
It is understood and agreed that the first Interest Period shall begin on the Closing Date and end on the last day of the same calendar month and shall bear interest at a rate equal to clause (i) of the definition of Designated Interest Rate.
More Definitions of Designated Interest Rate
Designated Interest Rate means the weighted average Past Due Rate (as defined in the applicable Indentures) in respect of "Series A Equipment Notes," "Series B Equipment Notes" and "Series C Equipment Notes" issued under the Indentures, except with respect to that portion of any Final Drawing (or Downgrade Drawing which becomes a Final Drawing) which remains in a Cash Collateral Account, Designated Interest Rate means the weighted average Investment Earnings of funds in the Cash Collateral Accounts. As used in this Section 2.02, a "Payment Default" when used in connection with an "Equipment Note" issued under an Indenture means a default in the payment of principal thereof or interest thereon, other than a default in the payment of principal or interest on a "Series D Equipment Note" or "Series E Equipment Note" issued under the Indentures which has not been cured other than solely because of acceleration. For purposes of Section 3.04(b) hereof, this is the fourth paragraph of Section 2.02. The Equipment Notes shall be executed on behalf of the Owner Trustee by its President or one of its Vice Presidents, Assistant Vice Presidents or Assistant Secretaries or other authorized officer. Equipment Notes bearing the signatures of Trust Indenture
Designated Interest Rate means, as of any time, the prime business rate of the Bank of Canada, plus two percent per year, calculated daily and compounded monthly, but not in excess of the highest rate per year permitted by law.
Designated Interest Rate means the weighted average Investment Earnings of funds in the Cash Collateral Accounts. As used in this Section 2.02, a "Payment Default" when used in connection with an "Equipment Note" issued under an Indenture means a default in the payment of principal thereof or interest thereon, other than a default in the payment of principal or interest on a "Series D Equipment Note" issued under the Indentures which has not been cured other than solely because of acceleration. For purposes of Section 3.04(b) hereof, this is the fourth paragraph of Section 2.02. The Equipment Notes shall be executed on behalf of the Owner Trustee by its President or one of its Vice Presidents, Assistant Vice Presidents or Assistant Secretaries or other authorized officer. Equipment Notes bearing the signatures of individuals who were at any time the proper officers of the Owner Trustee shall bind the Owner Trustee, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Equipment Notes or did not hold such offices at the respective dates of such Equipment Notes. The Owner Trustee may from time to time execute and deliver Equipment Notes with respect to the Aircraft to the Indenture Trustee for authentication upon original issue and such Equipment Notes shall thereupon be authenticated and delivered by the Indenture Trustee upon the written request of the Owner Trustee signed by a Vice President or Assistant Vice President or other authorized officer of the Owner Trustee; provided, however,
Designated Interest Rate means the weighted average Past Due Rate (as defined in the applicable Indentures) except with respect to that portion of any Final Drawing (or Applied Downgrade Advance or Applied Non-Extension Advance which becomes a Final
Designated Interest Rate means, for any Interest Period, the greater of (i) a rate of nine and three quarters percent (9.75%) per annum or (ii) Term SOFR, plus the Applicable Margin. “Floor” means a rate of interest equal to 1.00% per annum.“Interest Payment Date” shall mean, (i) prior to the Maturity Date, the last calendar day of each calendar month and (ii) the Maturity Date.“Interest Period” means the period commencing on the first day of the calendar month and ending on the earlier of (i) last day of the same calendar month and (ii) Maturity Date, provided that, the first Interest Period after the Closing Date, shall begin on the Closing Date and end on the last day of the same calendar month. “Relevant Governmental Body” means the FRB or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the FRB or the Federal Reserve Bank of New York, or any successor thereto.“Security Agreement” means that certain Security Agreement, dated as of even date herewith, among the Company and the other grantors party thereto from time to time, and LamVen LLC, Partners for Growth V, L.P. and the other secured parties party thereto from time to time.“SOFR” means a rate equal to the secured overnight financing rate as administered by the SOFR Administrator. “SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate). “Subordination Agreement” means that certain Subordination and Intercreditor Agreement, dated as of November 14, 2024, by and among, CCP Agency, LLC, in its capacity as Tier 1 Agent (as defined therein), Park Lane Investments LLC, in its capacity as Tier 2 Agent (as defined therein), LamVen LLC, in its capacity as Tier 3 Agent (as defined therein), LamVen LLC, in its capacity as Tier 4 Agent (as defined therein) and Partners For Growth V, L.P, as amended, restated, amended and restated, modified or supplemented from time to time.“Term SOFR” means the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date wi...
Designated Interest Rate means, for any Interest Period, the greater of (i) a rate of nine and three quarters percent (9.75%) per annum or (ii) Term SOFR, plus the Applicable Margin.
Designated Interest Rate has the meaning specified for such term in Section 2.02 of the Indenture.