Floating Rate Debt. Secured Debt that bears a floating rate of interest.
Floating Rate Debt. Any Debt that bears interest at floating rates, which on the Closing Date will consist of the Class A Debt and the Class B Notes.
Floating Rate Debt means, as of any date of determination, all Indebtedness with a variable interest rate that is not subject to a Hedging Agreement providing protection against fluctuations in interest rates.
Examples of Floating Rate Debt in a sentence
In determining whether the fixed interest rate on any Fixed Rate Debt is less than the Benchmark plus the spread of any Floating Rate Debt and/or whether the Benchmark plus the spread of any Floating Rate Debt is less than the fixed interest rate of any Fixed Rate Debt, the Issuer (or the Collateral Manager on its behalf) will make such determination by reference to the Benchmark plus the applicable spread as of the Redemption Date.
More Definitions of Floating Rate Debt
Floating Rate Debt means all Indebtedness for borrowed money of the Borrower, the other Obligors and each of their respective Subsidiaries which bears interest at fluctuating rates (and in any event shall include all Loans and other Indebtedness of the Borrower under any of the Loan Documents) and for which the Borrower, such Obligor or such Subsidiary has not obtained Interest Rate Agreements which Interest Rate Agreements effectively cause such variable rates to be equivalent to, or to be capped at, fixed rates. For purposes of this definition, Floating Rate Debt of the Borrower, any other Obligor or any Subsidiary of the Borrower, the other Obligors and their respective Subsidiaries shall include the Floating Rate Debt of any Unconsolidated Affiliate of the Borrower, such Obligor or such Subsidiary, as the case may be, only to the extent of such Floating Rate Debt is recourse to the Borrower, such Obligor or such Subsidiary.
Floating Rate Debt means all Indebtedness of the Borrower and its Subsidiaries which bears interest at fluctuating rates (and in any event shall include all Loans and other Indebtedness of the Borrower under any of the Loan Documents) and for which the Borrower or any such Subsidiary has not obtained Interest Rate Agreements which effectively cause such variable rates to be equivalent to fixed rates less than or equal to (a) the rate (as reasonably determined by the Agent) borne by United States 10-year Treasury Notes at the time the applicable Interest Rate Agreement became effective plus (b) 3.0%.
Floating Rate Debt has the meaning set forth in Section 3.4(g).
Floating Rate Debt. All Indebtedness of a Person that bears interest at a variable rate during the scheduled life of such Indebtedness and for which such Person has not obtained interest rate swap agreements that effectively cause such variable rates to be equivalent to fixed rates through the maturity of the Indebtedness.
Floating Rate Debt means the New Floating Rate Debt and the APE Floating Rate Debt.
Floating Rate Debt means any Indebtedness which is outstanding and bears interest at a rate which is subject to periodic adjustment (either automatically by reference to a fluctuating base or market rate of interest or at the option of the lender), excluding Reserved Construction Loans.