Floating Rate Loan Asset definition
Floating Rate Loan Asset means a Loan Asset (i) that provides for scheduled payments of floating-rate interest in cash on a semi-annual or more frequent basis, (ii) under which the interest rate payable by the Obligor thereof is based on a prime rate or the London Interbank Offered Rate, plus some specified interest percentage in addition thereto, and (iii) that provides that such interest rate will reset immediately (or at the end of designated interest period) upon any change in the related prime rate or the London Interbank Offered Rate.
Floating Rate Loan Asset means an Eligible Loan Asset under which the Loan Rate payable by the Obligor thereof is based on the Applicable Prime Rate or the Applicable LIBOR Rate, plus some specified interest percentage in addition thereto, and the Eligible Loan Asset provides that such Loan Rate will reset in accordance with customary terms immediately upon any change in the related Applicable Prime Rate or the Applicable LIBOR Rate.
Floating Rate Loan Asset means a Loan Asset (i) that provides for scheduled payments of floating-rate interest in cash on a semi-annual or more frequent basis, (ii) under which the interest rate payable by the Obligor thereof is based on a prime rate or the London Interbank Offered Rate or any successor thereto (including the Secured Overnight Financing Rate) (subject, if applicable, to an interest rate floor), plus some specified interest percentage in addition thereto, and (iii) that provides that such interest rate will reset immediately (or at the end of the designated interest period) upon any change in the related prime rate or the London Interbank Offered Rate or any successor thereto (including the Secured Overnight Financing Rate).
More Definitions of Floating Rate Loan Asset
Floating Rate Loan Asset means a Loan Asset that bears interest at a floating rate.
Floating Rate Loan Asset means a Loan Asset under which the interest rate payable by the Obligor thereof is based on the Fifth Street Prime Rate or Fifth Street LIBOR Rate, plus some specified interest percentage in addition thereto, and which provides that such interest rate will reset immediately upon any change in the related Fifth Street Prime Rate or Fifth Street LIBOR Rate.
Floating Rate Loan Asset means a Loan Asset under which the Interest rate payable by the Obligor thereof is based on the Ares Prime Rate or Ares LIBORBenchmark Rate, plus some specified Interest percentage in addition thereto, and which provides that such Interest rate will reset immediately upon any change in the related Ares Prime Rate or Ares LIBORBenchmark Rate.
Floating Rate Loan Asset means a Loan Asset under which the Interest rate payable by the Obligor thereof is based on the Ares Prime Rate or Ares Benchmark Rate, plus some specified Interest percentage in addition thereto, and which provides that such Interest rate will reset immediately upon any change in the related Ares Prime Rate or Ares Benchmark Rate.
Floating Rate Loan Asset means a Loan Asset that bears interest at a floating rate. “Foreign Lender” is defined in Section 2.12(d).