Floating Rate Collateral Debt Security definition

Floating Rate Collateral Debt Security means any Collateral Debt Security that is expressly stated to bear interest expressed as a floating rate based upon a LIBOR Rate or the applicable rate on U.S. Treasury bills, prime rate, rate for commercial paper, federal funds rate or other index acceptable to each Rating Agency; provided, that any Collateral Debt Security that bears interest at a fixed rate for a specified period of time and then bears interest at a floating rate until its maturity, shall be a Floating Rate Collateral Debt Security only at such times that such Collateral Debt Security is bearing interest at a floating rate.
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Floating Rate Collateral Debt Security means any Collateral Debt Security or synthetic security that bears interest based upon a floating rate index.
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Floating Rate Collateral Debt Security means (i) any Collateral Debt Security that is expressly stated to bear interest based upon a floating rate index for Dollar-denominated obligations commonly used as a reference rate in the United States or the United Kingdom, (ii) any Collateral Debt Security the interest payments on which are derived primarily from underlying assets that bear interest based on a floating rate index and which has no stated fixed rate of interest or (iii) other than for purposes of calculating the Weighted Average Coupon Test, the Weighted Average Spread Test or clause (22) of the Eligibility Criteria, any Hybrid Security.
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Examples of Floating Rate Collateral Debt Security in a sentence

  • A Collateral Debt Security that provides that (i) it does not pay interest over a specified period of time ending prior to its maturity, but which does provide for the payment of interest after the expiration of such specified period or (ii) the interest rate of which decreases over a specified period of time other than due to the decrease of the index relating to a Floating Rate Collateral Debt Security.

  • The Issuer may from time to time convert a Fixed Rate Collateral Debt Security into a Deemed Floating Rate Collateral Debt Security by entering into a Deemed Floating Asset Hedge that obligates the Issuer to exchange fixed payments it receives under a Fixed Rate Collateral Debt Security for LIBOR-based payments from the Hedge Counterparty.

  • A Collateral Debt Security that provides that (i) it does not pay interest over a specified period of time ending prior to its maturity, but which does provide for the payment of interest after the expiration of such specified period or (ii) the interest rate of which increases over a specified period of time other than due to the increase of the index relating to a Floating Rate Collateral Debt Security.


More Definitions of Floating Rate Collateral Debt Security

Floating Rate Collateral Debt Security means a Collateral Debt Security that bears interest at a floating rate per annum equal to a spread over LIBOR.
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Floating Rate Collateral Debt Security means any Collateral Debt Security other than a Hybrid Security or Synthetic Security (a) that is expressly stated to bear interest based upon a floating rate index for Dollar-denominated obligations commonly used as a reference rate in the United States or the United Kingdom or(b) the interest payments on which are derived primarily from underlying assets that bear interest based on a floating rate index.
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Floating Rate Collateral Debt Security means any Collateral Debt Security which bears interest based upon LIBOR, prime rate or another floating rate index.
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Related to Floating Rate Collateral Debt Security

  • Floating Rate Obligation Any Collateral Obligation that bears a floating rate of interest.

  • Fixed Rate Obligation Any Collateral Obligation that bears a fixed rate of interest.

  • Floating Rate Security means a Debt Security that provides for the payment of interest at a variable rate determined periodically by reference to an interest rate index specified pursuant to Section 2.03.

  • Floating Rate Notes means the Class A-2b Notes.

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.

  • Floating Rate Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the Floating Rate.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • CB Floating Rate means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month LIBOR Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including the effective date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively.

  • Floating Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Senior Secured Loan Any assignment of or Participation Interest in a Loan that: (a) is not (and cannot by its terms become) subordinate in right of payment to any other obligation of the obligor of the Loan (other than with respect to trade claims, capitalized leases or similar obligations); (b) is secured by a valid first-priority perfected security interest or lien in, to or on specified collateral securing the obligor’s obligations under the Loan (subject to customary exceptions for permitted liens, including, without limitation, tax liens); (c) the value of the collateral securing the Loan at the time of purchase together with other attributes of the obligor (including, without limitation, its general financial condition, ability to generate cash flow available for debt service and other demands for that cash flow) is adequate (in the commercially reasonable judgment of the Collateral Manager) to repay the Loan in accordance with its terms and to repay all other Loans of equal seniority secured by a first lien or security interest in the same collateral; and (d) is not secured solely or primarily by common stock or other equity interests; provided that if such Loan is made to a parent entity that is secured solely or primarily by the stock of one or more of the subsidiaries of such parent entity to the extent that the granting by any such subsidiary of a lien on its own property would violate law or regulations applicable to such subsidiary (whether the obligation secured is such Loan or any other similar type of indebtedness owing to third parties), then the limitation set forth in this clause (d) shall not apply with respect to such Loan.

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Floating Rate Certificate A Certificate that provides for the payment of interest at a Floating Pass-Through Rate determined periodically by reference to a formula specified in the related Supplement.

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • Floating Rate Note means a Note on which interest is calculated at a floating rate, payable in arrear on one or more Interest Payment Dates in each year as may be agreed between the Issuer and the relevant Dealer, as indicated in the applicable Final Terms;

  • Floating Rate means, for any day, a rate per annum equal to (i) the Alternate Base Rate for such day plus (ii) the Applicable Margin, in each case changing when and as the Alternate Base Rate changes.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Fixed Rate Notes Together, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes.

  • Secured Rate Contract means any Rate Contract between Borrower and the counterparty thereto, which (i) has been provided or arranged by GE Capital or an Affiliate of GE Capital, or (ii) Agent has acknowledged in writing constitutes a “Secured Rate Contract” hereunder.

  • Senior Secured Credit Facilities means the amended and restated senior secured credit facilities dated November 30, 2016 among Studio City Company Limited, the guarantors named therein, the financial institutions named as lenders therein and the agent for such lenders, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, as such facilities may be amended, restated, modified, renewed, supplemented, replaced or refinanced from time to time.

  • Fixed Rate Security means a Security which provides for the payment of interest at a fixed rate.

  • Fixed Rate Note means a Note on which interest is calculated at a fixed rate payable in arrear on a fixed date or fixed dates in each year and on redemption or on such other dates as may be agreed between the Issuer and the relevant Dealer(s) (as indicated in the applicable Final Terms);

  • Floating Interest Rate means: (a) initially Three-Month Term SOFR (as defined below). (b) Notwithstanding the foregoing clause (i) of this Section 2(b): (i) If the Calculation Agent, determines prior to the relevant Floating Interest Determination Date that a Benchmark Transition Event and its related Benchmark Replacement Date (each of such terms as defined below) have occurred with respect to Three-Month Term SOFR, then the Company shall promptly provide notice of such determination to the Holders and Section 2(c) (Effect of Benchmark Transition Event) will thereafter apply to all determinations, calculations and quotations made or obtained for the purposes of calculating the Floating Interest Rate payable on the Subordinated Notes during a relevant Floating Interest Period. (ii) However, if the Calculation Agent, determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR, but for any reason the Benchmark Replacement has not been determined as of the relevant Floating Interest Determination Date, the Floating Interest Rate for the applicable Floating Interest Period will be equal to the Floating Interest Rate on the last Floating Interest Determination Date for the Subordinated Notes, as determined by the Calculation Agent (as defined below). (iii) If the then-current Benchmark is Three-Month Term SOFR and any of the foregoing provisions concerning the calculation of the interest rate and the payment of interest during the Floating Interest Period are inconsistent with any of the Three-Month Term SOFR Conventions determined by the Company, then the relevant Three-Month Term SOFR Conventions will apply.

  • Floating Rate Margin means 7.50 per cent. per annum.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.