Hedge Trigger Event definition

Hedge Trigger Event means the occurrence of either of the following (i) the Adjusted Benchmark for any Interest Accrual Period is greater than or equal to [***]% or (ii) the end of the Availability Period.

Hedge Trigger Event means that the daily average Adjusted Daily Simple SOFR exceeds 7.00% for any Interest Period.

Hedge Trigger Event means any date on which (i) the Aggregate Loan Amount is greater than zero, and (ii) the average Excess Spread for the three most recently ended Collection Periods is less than [***]*%.

Examples of Hedge Trigger Event in a sentence

• To the extent that the Issuer fails to purchase or cause to be purchased the Hedge Agreement following a Hedge Trigger Event in the timeframe described above, the Administrative Agent is authorized to obtain such Hedge Agreement on behalf of the Issuer and to direct the Indenture Trustee to withdraw from the Hedge Reserve Account, to the extent of funds available therein, the applicable Hedge Agreement premium and to pay such amount to the related Hedge Counterparty.

• So long as no Hedge Trigger Event has occurred, in lieu of providing Hedge Agreements, the Issuer may, upon prior written notice to the Administrative Agent, elect to exercise the Hedge Reserve Option and to deposit Hedge Reserve Amounts equal to the Hedge Reserve Account Required Balance in the Hedge Reserve Account.

• During the five (5) Business Day period following the occurrence of a Hedge Trigger Event, the Lenders shall not be obligated to grant any Credit Extension.

More Definitions of Hedge Trigger Event

Hedge Trigger Event means any date on which the Weighted Average Actual Gross Excess Spread is less than the Weighted Average Modeled Gross Excess Spread at the then applicable LIBOR Threshold.

Hedge Trigger Event shall exist if (i) on a Hedge Determination Date, (A) the LIBOR Rate is greater than 3.00% or (B) to the extent that the Aggregate Loan Balance exceeds $0.00, the Gross Excess Spread Percentage is less than 7.00%, or (ii) an Amortization Event shall exist, or (iii) the Facility Termination Date shall have occurred.

Hedge Trigger Event means, as of any date of determination, the difference of (i) the Weighted Average Coupon minus (ii) the LIBOR Rate is less than seven percent (7.00%).

Hedge Trigger Event means the earliest to occur of: (i) LIBOR for a three (3) month Interest Period is greater than or equal to one percent (1.00%), (ii) the expiration or termination of the Availability Period or (iii) the date that is thirty (30) days prior to the scheduled expiration of the Availability Period.

Hedge Trigger Event means (i) with respect to the Existing Loans, that the Net Existing WAC, is less than either one-month LIBOR or the Swap Rate as of any Borrowing Date or Payment Date, as determined by the Agent and (ii) with respect to the Additional Loans, that the Base Rate does not exceed one-month LIBOR by more than 1.00% as of any Borrowing Date or Payment Date, as determined by the Agent. Any such Hedge Trigger Event shall be deemed to be continuing unless and until the circumstance described in clause (i) or (ii), as applicable, ceases to exist as of any subsequent Borrowing Date or Payment Date, as determined by the Agent.

Hedge Trigger Event means the occurrence of either of the following (i) LIBOR for any Interest Accrual Period is greater than or equal to 2.75% or (ii) the end of the Availability Period.

Hedge Trigger Event shall be deemed to have occurred if the sum of the aggregate amount of Loans outstanding plus the Letter of Credit Exposure is greater than $200,000,000 at any time.