Eurodollar Rate Spread definition
Eurodollar Rate Spread means an additional component of interest (which may vary over the term of any Eurodollar Rate Loan) to be added to the Eurodollar Rate in determining the interest rate payable with respect to Eurodollar Rate Loans. As of each date of determination the Eurodollar Rate Spread equals the interest rate per annum set forth on the Pricing Grid.
Eurodollar Rate Spread means as to each Advance Rate the applicable Eurodollar Rate Spread set forth below opposite such Advance Rate for the applicable Collateral type, or such other Eurodollar Rate Spread as may be mutually agreed to by Borrower and Lender: ------------------------------------------------------------------------------------------------------------- Collateral Type Advance Eurodollar Rate Spread (expressed Rate as percentage points per annum and as basis points) ------------------------------------------------------------------------------------------------------------- Conduit Loan 90% 0.75% 75bp 95% 1.00% 100bp ------------------------------------------------------------------------------------------------------------- Non-Conduit Mortgage Loans First Mortgage (75% LTV maximum) 90% 1.45% 145bp First Mortgage (75% LTV maximum) 95% 1.65% 165bp ------------------------------------------------------------------------------------------------------------- Subordinate Mortgage Loans, Mezzanine 65% 1.75% 175bp Loans, CMBS and Equity Interests* 75% 1.85% 185bp 80% 2.20% 220bp ------------------------------------------------------------------------------------------------------------- * Solely for illustrative purposes, Borrower and Lender agree that the following example of a transaction illustrates their intent: with respect to an item of Collateral for which the appraised value of the underlying real property is $100,000,000, on which Mortgage Loans and Mezzanine Loans have been made in the aggregate amount of $85,000,000, with Lender advancing hereunder 95% of a 75% LTV ($71,250,000), plus 80% of a subordinate Mortgage Loan or Mezzanine Loan (80% of $10,000,000 equals $8,000,000), the aggregate loans from Lender to Borrower would equal $79,250,000, resulting in a 93.2% underlying loan-to-loan value. In addition, Lender will finance loans originated by Borrower with an aggregate underlying LTV up to 95% and above 95% on a case-by-case basis. The Eurodollar Rate Spread may exceed the levels set forth above on loans with underlying LTVs in excess of 90%.
Eurodollar Rate Spread means (A) as to each Purchase Rate the applicable Eurodollar Rate Spread set forth below opposite such Purchase Rate for the applicable “Transaction Asset Type” (as set forth in the chart below), or such other Eurodollar Rate Spread as may be mutually agreed to by Seller and Buyer: Initial Transaction Asset 60% 1.50%* 150 bps* All Eligible Transaction Assets other than Initial Transaction Asset and DYT Assets To be determined in Buyer’s sole good faith discretion. To be determined in Buyer’s sole good faith discretion. DYT Assets Not applicable. Not applicable. * In the event that at any time, and for so long as, the quotient of (a) the outstanding amount of the Repurchase Price of the Initial Transaction Asset divided by (b) the outstanding principal amount of the Initial Transaction Asset, shall be less than fifty percent (50%), the Eurodollar Rate Spread with respect to the Initial Transaction Asset shall be 1.00% (100 bps). In the event that a Rate Step-Up shall become effective pursuant to the terms of this Agreement, the Eurodollar Rate Spread for the Initial Transaction Asset shall be 1.00% (100bps) higher (for each day that such Rate Step-Up is in effect) than the Eurodollar Rate Spread that would otherwise be in effect.
Examples of Eurodollar Rate Spread in a sentence
Except as otherwise provided in Section 3.7, the unpaid principal amount of any Eurodollar Rate Loan shall bear interest at a rate per annum equal to the sum of the Eurodollar Rate for that Eurodollar Rate Loan plus the Applicable Eurodollar Rate Spread.
Except as otherwise provided in Section 3.6, the unpaid principal amount of any Eurodollar Loan shall bear interest at a rate per annum equal to the Eurodollar Rate for that Eurodollar Loan plus the Eurodollar Rate Spread.
Upon Lender's receipt of all of the Diligence Materials or Lender's waiver thereof, Lender, within five (5) Business Days, shall either (i) notify Borrower of the Maximum Advance Rate (which may be less than the Advance Rate set forth in the definition of Eurodollar Rate Spread) and the Asset Value for the proposed Collateral or (ii) deny, in Lender's sole and absolute discretion, Borrower's request for an advance.
In the event of any change in the Interest Coverage Ratio of the Consolidated Entity for the most recently ended four full fiscal quarters of the Consolidated Entity, the Eurodollar Rate Spread shall change effective as of the first day of the first Interest Period beginning after the date on which the most recent Financial Statements of the Consolidated Entity were required to be delivered to the Agent pursuant to Section 7.1(a) or 7.1(c), as applicable.
On each Quarterly Payment Date and on the earlier of the expiration date of a Standby Letter of Credit and the date upon which the Obligations are paid in full and the Commitment terminated, Borrower shall pay in arrears to the Administrative Agent, for the account of each Lender according to its Pro Rata Share of the Commitment, a Standby Letter of Credit fee equal to the Eurodollar Rate Spread times the undrawn amount of each outstanding Standby Letter of Credit.
More Definitions of Eurodollar Rate Spread
Eurodollar Rate Spread means, 3.50%.
Eurodollar Rate Spread is defined in the Fee Letter.
Eurodollar Rate Spread means as to each Purchase Rate the applicable Eurodollar Rate Spread set forth below opposite such Purchase Rate for the applicable Transaction Asset Type, or such other Eurodollar Rate Spread as may be mutually agreed to by Seller and Buyer: Eurodollar Rate Spread (expressed as percentage points Transaction Asset Type Purchase Rate per annum and as basis points) ---------------------- ------------- ------------------------------ ----------------------------------------------------------------------------------------------------------- Whole Loans [****] [****] [****] ----------------------------------------------------------------------------------------------------------- B Notes, Preferred Equity Interests and Mezzanine [****] [****] [****] Loans and participation interests in any of the foregoing* ---------------------------------------------------- (50% - 55% LTV maximum) [****] [****] [****] ---------------------------------------------------- (56% - 60% LTV maximum) [****] [****] [****] ---------------------------------------------------- (61% - 70% LTV maximum) [****] [****] [****] ---------------------------------------------------- (71% - 75% LTV maximum) [****] [****] [****] ----------------------------------------------------------------------------------------------------------- (76% - 80% LTV maximum) [****] [****] [****] ---------------------------------------------------- (81% - 85% LTV maximum) [****] [****] [****] ---------------------------------------------------- (86% - 90% LTV maximum) [****] [****] [****] ----------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- CMBS [****] [****] [****] Rating: [****] [****] [****] ---------------------------------------------------- BBB [****] [****] [****] ---------------------------------------------------- BBB- [****] [****] [****] ----------------- ----------------- ---------------- BB+ [****] [****] [****] ---------------------------------------------------- BB [****] [****] [****] ---------------------------------------------------- BB- [****] [****] [****] ----------------------------------------------------------------------------------------------------------- B+ [****] [****] [****] ---------------------------------------------------- B [****] [****] [****] ---------------------------------------------------- B- [****] [****] [****] ...
Eurodollar Rate Spread means 2.75%.
Eurodollar Rate Spread set forth herein or as otherwise defined or limited herein; provided, that, the Collateral Value shall be deemed to be zero or such greater amount as determined by Lender in respect of each item of Eligible Collateral (1) in respect of which there is a breach of a representation or warranty by a Collateral Obligor, (2) in respect of which there is a delinquency in the payment of principal and/or interest which continues for a period in excess of 30 days (such period to include any applicable grace periods) unless otherwise approved by Lender, or (3) which has been released from the possession of Custodian under the Custodial Agreement to Borrower for a period in excess of 14 days.
Eurodollar Rate Spread means the applicable percentage per annum set forth in the column "Eurodollar Rate Spread": PORTFOLIO LOAN TO VALUE RATIO EURODOLLAR RATE SPREAD -------------------------------------------------------------- Less than twenty-five percent (25%) 225 basis points -------------------------------------------------------------- Twenty-five percent (25%) or more but less than forty percent (40%) 250 basis points -------------------------------------------------------------- Forty percent (40%) or greater 275 basis points -------------------------------------------------------------- The Eurodollar Rate Spread shall be determined by reference to the matrix above, and any change in the Eurodollar Rate Spread shall be effective immediately (i) upon the date of each Advance hereunder, (ii) upon a Property becoming an Excluded Property, (iii) after giving effect to any release and substitution in accordance with Section 2.5 hereof (iv) after receipt of new Appraisals pursuant to Section 5.4 hereof or (v) upon a Conversion or a Floating Rate CMBS Conversion.
Eurodollar Rate Spread means (A) with respect to each item of Eligible Collateral pledged to Lender before March 30, 1999 and set forth on Exhibit G attached hereto, for the period to, and including, December 8, 1999, as to each Advance Rate the applicable Eurodollar Rate Spread set forth below opposite such Advance Rate for the applicable Collateral type, or such other Eurodollar Rate Spread as may be mutually agreed to by Borrower and Lender: ------------------------------------------------------------------------------------------------------ Collateral Type Advance Rate Eurodollar Rate Spread (expressed as percentage points per annum and as basis points) ------------------------------------------------------------------------------------------------------ Subordinate Mortgage Loans, Mezzanine 65% 1.75% 175bp Loans, CMBS and Equity Interests 75% 1.85% 185bp 80% 2.20% 220bp ------------------------------------------------------------------------------------------------------