Interest Rate Hedge Trigger definition

Interest Rate Hedge Trigger means that, as of any Determination Date, the Excess Spread Percentage is below 11.50%.
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Interest Rate Hedge Trigger shall occur if (i) for a Collection Period in which a Securitization has occurred and the immediately following Collection Period the average of the Gross Excess Spread Percentage for such Collection Period and the two preceding Collection Periods (or, if fewer than three Collection Periods have elapsed since the Closing Date, the average of the Gross Excess Spread Percentage for the number of Collection Periods that have elapsed since the Closing Date) is equal to or less than 16.75%, or (ii) for any other Collection Period, the Gross Excess Spread Percentage is equal to or less than 16.75%. For purposes of calculating the Interest Rate Hedge Trigger for the first Collection Period, “Collection Period” means the period from the initial Cutoff Date through and including the last day of the calendar month immediately preceding the first Payment Date.
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Interest Rate Hedge Trigger means that, as of any Determination Date, the average of the Excess Spread Percentage for such Collection Period and the two preceding Collection Periods is below 11.5016.75%.
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Examples of Interest Rate Hedge Trigger in a sentence

  • For so long as an Interest Rate Hedge Trigger is outstanding, the Borrower shall maintain Hedge Transactions in accordance with this Section 6.03 with an aggregate notional amount that is at least 95.0% of the Loans Outstanding at any such time.


More Definitions of Interest Rate Hedge Trigger

Interest Rate Hedge Trigger shall occur if, other than during a Securitization Trigger Holiday, (i) for a Collection Period in which a Securitization has occurred and the immediately following Collection Period the average of the Gross Excess Spread Percentage for such Collection Period and the two preceding Collection Periods (or, if fewer than three Collection Periods have elapsed since the Closing Date or a Securitization Trigger Holiday, the average of the Gross Excess Spread Percentage for the number of Collection Periods that have elapsed since the Closing Date or as specified in the definition of “Securitization Trigger Holiday”) is equal to or less than 16.75%, or (ii) for any other Collection Period, the Gross Excess Spread Percentage is equal to or less than 16.75%. For purposes of calculating the Interest Rate Hedge Trigger for the first Collection Period, “Collection Period” means the period from the initial Cutoff Date through and including the last day of the calendar month immediately preceding the first Payment Date.
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Interest Rate Hedge Trigger. An event occurring when the Fixed Rate Loan Percentage is greater than 10%.
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Related to Interest Rate Hedge Trigger

  • Interest Rate Agreement means with respect to any Person any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement as to which such Person is party or a beneficiary.

  • Swap Agreement means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a Swap Agreement.

  • Hedge Provider means Xxxxx Fargo or any of its Affiliates.