Facility Interest definition

Facility Interest means a legal, beneficial or economic interest acquired or to be acquired expressly and specifically in or in relation to the Facility, whether as initial lender or by way of assignment, transfer, novation, sub-participation (whether disclosed, undisclosed, risk or funded) or any other similar method.

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Facility Interest means the Class A Facility Interest and the Class B Facility Interest, as applicable

Facility Interest means a legal, beneficial or economic interest acquired or to be acquired in or in relation to the Debt Financing, whether as initial lender or by way of assignment, transfer, novation, sub-participation (whether disclosed, undisclosed, risk or funded) or any other similar method, other than by way of credit protection or any other hedging arrangement conducted by an institution in connection with its overall portfolio hedging strategy; and

Examples of Facility Interest in a sentence

• The determination of the Lending Facility Interest Rate by the Lender will be final and binding upon all parties absent manifest error.

• If the date for any payment or prepayment under this Agreement is extended by operation of law or otherwise, interest with respect thereto will be payable at the Lending Facility Interest Rate during such extension period.

• The determination of the Revolving Facility Interest Rate by the Lender, in the absence of manifest error, will be conclusive and binding on the Borrowers.

• The Revolving Facility will accrue interest for each Interest Period until the Revolving Facility Balance has been paid in full at a rate per annum equal to the Revolving Facility Interest Rate for that Interest Period.

• The Lender will calculate the Revolving Facility Interest Rate for each Payment Date and the related Interest Period and the Revolving Facility Interest Payment Amount.

More Definitions of Facility Interest

Facility Interest means a legal, beneficial or economic interest acquired or to be acquired expressly and specifically in or in relation to the Term Facility, whether as initial Lender or by way of assignment, transfer, novation, sub-participation (whether disclosed, undisclosed, risk or funded) or any other similar method.

Facility Interest means, for any day, the sum of the products of (i) the Advances Outstanding on such day, multiplied by (ii) the Applicable Rate multiplied by (iii) 1/360.

Facility Interest means the Class 1 Type Facility Interest and the Class 2 Type Facility Interest, as applicable.

Facility Interest and “Facility Interests” each has the meaning ascribed to such term in the Note Purchase Agreement.

Facility Interest means a legal, beneficial or economic interest acquired or to be acquired in or in relation to the Facilities, whether as initial Lender or by way of assignment, transfer, novation, sub-participation (whether disclosed, undisclosed, risk or funded) or any other similar method; and

Facility Interest means interest payable by the Borrower at the relevant Facility Interest Rate pursuant to the relevant Loan Facility Agreement;

Facility Interest. Interest on outstanding amounts under the Facility (the “Facility Interest”) shall accrue daily commencing on the date that the Draw is advanced, and thereafter shall be payable monthly in arrears by the Borrower on the last Business Day of the next month at the rate of 6.75% per annum + 3 Month SOFR Rate (the “Facility Interest Rate”). For purposes of this Agreement, “3 Month SOFR Rate” shall refer to the rate published by the CME Group, representing the forward-looking cost of borrowing cash overnight collateralized by U.S. Treasury securities, as determined based on actual transactions in the repurchase agreement market.