LIBOR Break Amount means the amount, if any, required to compensate each Holder for any losses, costs or expenses (excluding loss of profit) which it may incur as the result of the prepayment (including any by virtue of an acceleration) (or the failure to make any such prepayment on the date irrevocably scheduled therefor) of any Loan Certificate held by it on a date other than the last day of the then current Interest Period therefor, including, without limitation, losses, costs or expenses incurred in connection with unwinding or liquidating any deposits or funding or financing arrangement with its funding sources, as reasonably determined by such Holder. Without limiting the effect of the preceding sentence, such compensation shall include an amount equal to the excess, if any, of (i) the amount of interest which otherwise would have accrued on the principal amount so prepaid (including any by virtue of an acceleration) from the date of such prepayment (including any by virtue of an acceleration) to the last day of such Interest Period (the “Break Period”) at the LIBOR therefor in excess of (ii) the interest component of the amount the affected Holder would have bid in the London interbank market for Dollar deposits of leading banks in amounts comparable to such principal amount and with maturities comparable to the Break Period (as reasonably determined by such Holder). Each Holder shall provide a certificate to the Borrower documenting its calculation of LIBOR Break Amount.
LIBOR Break Amount means the amount or amounts, if any, required to compensate each Lender for any losses, costs or expenses (excluding loss of profit) which it may incur as the result of the prepayment (including a prepayment following acceleration) (or the failure to make any such prepayment on the date irrevocably scheduled therefor) of any Note (or interest thereon) held by it on a date other than the immediately succeeding Interest Payment Date or in an amount different than the amount to be paid on such date pursuant to the terms of the Operative Documents, including, without limitation, losses, costs or expenses incurred in connection with unwinding or liquidating any deposits or funding or financing arrangement with its funding sources, as determined by such Lender absent manifest error. Without limiting the effect of the preceding sentence, such compensation shall include an amount equal to the excess, if any, of (i) the amount of interest which otherwise would have accrued on the principal amount of such Lender so prepaid from the date of prepayment to the immediately succeeding Interest Payment Date (the "Break Period") over (ii) the amount of interest component of the amount such Lender would have obtained from leading banks in the London interbank market for Dollar deposits of leading banks in an amount comparable to such principal amount and with a maturity comparable to the Break Period (as determined by such Lender absent manifest error).
LIBOR Break Amount means, for any Series A Certificate as at any ------------------ date of prepayment, purchase or acceleration of such Series A Certificate, an amount equal to the excess, if any, of (i) the amount of interest which otherwise would have accrued on the principal amount prepaid, purchased or accelerated for the period from the date of such prepayment, purchase or acceleration to the next subsequent Interest Payment Date at the applicable "Floating Rate" (i.e., LIBOR-based rate) of interest in effect on such date ---- (exclusive of any spread) under the Swap Transaction over (ii) the interest component of the amount the holder of such Series A Certificate would have bid in the London interbank market for Dollar deposits of leading banks in amounts comparable to such principal amount and with maturities comparable to such period.
Examples of LIBOR Break Amount in a sentence
If for whatever reason the Borrower or, as the case may be, the Sub-Borrower has not acquired title to the Aircraft on the Utilisation Date then the Relevant Lender shall be under no obligation to disburse the Loan and the Borrower shall, on demand, pay to the Agent any LIBOR Break Amount and/or any Expenses incurred by the Agent and/or the Relevant Lender in connection with the proposed Loan.
More Definitions of LIBOR Break Amount
LIBOR Break Amount hereunder shall be equal to the excess, if any, of (i) the amount of interest that otherwise would have accrued on the principal amount so paid, prepaid or not borrowed for the period from the date of such payment, prepayment or failure to borrow to the last day of the then current Interest Period for such Loan Participant’s Loan in respect of the Designated Aircraft (or, in the case of a failure to borrow, the Interest Period for the Loan that would have commenced on the date specified for such borrowing) at the applicable LIBOR rate over (ii) the amount of interest that otherwise would have accrued on such principal amount at a rate per annum equal to the interest component of the amount the applicable Loan Participant would have bid in the London interbank market for Dollar deposits of leading banks in amounts comparable to such principal amount and with maturities comparable to such period (as reasonably determined by such Loan Participant). For the avoidance of doubt, the calculation of LIBOR Break Amount shall not include any compensation for lost margin or profit.
LIBOR Break Amount has the meaning set forth in Section 3(g) of the Facility Agreement.
LIBOR Break Amount. “Default,” “Event of Default,” “Borrower’s Cost,” “Majority in Interest of Note Holders” or “Operative Documents,” contained herein or in any other Operative Document (except to change default definitions by providing for additional events of default), (ii) increase the principal amount of any Note or reduce the amount or extend the time of payment of any amount owing or payable under any Note or (except as provided in this Mortgage) increase or reduce the Breakage Amount or interest payable on any Note (except that only the consent of the affected Note Holder shall be required for any decrease in any amounts of or the rate of Breakage Amount or interest payable on such Note or any extension for the time of payment of any amount payable under such Note), or alter or modify the provisions of Article III with respect to the order of priorities in which distributions thereunder shall be made or with respect to the amount or time of payment of any such distribution, (iii) reduce, modify or amend any indemnities in favor of any Note Holder or alter the definition of “Indemnitee” to exclude any Note Holder (except as consented to by each Person adversely affected thereby), or (iv) modify, amend or supplement the Mortgage or consent to any assignment of the Mortgage, in either case in such a way as to release Borrower from its obligations in respect of the payments of principal and interest and other amounts due and owing hereunder. This Section 8.01 shall not apply to any mortgage or mortgages supplemental hereto permitted by, and complying with the terms of, Section 5.07, Section 7.02 or Section 8.04. Notwithstanding the foregoing, without the consent of each Note Holder, no such supplement to this Mortgage, or waiver or modification of the terms hereof or of any other agreement or document shall expressly permit the creation of any Lien on the Mortgage Estate or any part thereof, except as herein expressly permitted, or deprive any Note Holder of the benefit of the Lien of this Mortgage on the Mortgage Estate, except as provided in Sections 5.01 and 5.02 or in connection with the exercise of remedies under Article IV.
LIBOR Break Amount means an amount equal to the net loss or additional expense which a Lender sustains or incurs as a direct result of the payment or prepayment (whether by mandatory or voluntary prepayment, purchase, acceleration or any other form of payment or prepayment) of all or any portion of such Lender’s Note on a date other than the last day of an Interest Period, as reasonably determined by such Lender by reference to the LIBOR applicable in respect of such Interest Period and set forth in a statement provided by such Lender which includes in reasonable detail the basis for the calculations of the amount being claimed which statement shall be conclusive and binding for all purposes, except in the case of manifest error; provided, that in no event shall any portion of the LIBOR Break Amount, if any, be attributable to loss of future margin or profit.
LIBOR Break Amount means the amount, if any, required to compensate each ------------------ Noteholder for any losses, costs or expenses (but excluding any profit) which it may incur as the result of the prepayment, purchase or acceleration (or the failure to make any such prepayment or purchase on the date irrevocably scheduled therefor) of any Equipment Note held by it on a date other than the last day of the then current Interest Period therefor, including, without limitation, losses, costs or expenses incurred in connection with unwinding or liquidating any deposits or funding or financing arrangement with its funding sources, as reasonably determined by such Noteholder. Without limiting the effect of the preceding sentence, such compensation shall include an amount equal to the excess, if any, of (i) the amount of interest which otherwise would have accrued on the principal amount so prepaid, purchased or accelerated to the last day of such Interest Period (the "Break Period") at the LIBOR Rate therefor ------------ in excess of (ii) the interest component of the amount the affected Noteholder would have bid in the London interbank market for Dollar deposits of leading banks in amounts comparable to such principal amount and with maturities comparable to the Break Period (as reasonably determined by such Noteholder.)
LIBOR Break Amount means, with respect to any repayment of a Loan on any day other than a Repayment Date, the amount (if any) equal to the product of (i) the amount to be repaid, (ii) the amount (if any) expressed as a percentage by which six month LIBOR as of the Repayment Date before the date of repayment on an amount equal to the amount to be repaid exceeds LIBOR as of the date of such repayment on such amount to be repaid for the period from the date of repayment to the date when interest would next be payable on such Loan (absent such repayment) and (iii) a fraction, the numerator of which is the number of days from and including the date of repayment, to but excluding the date when interest would next have been payable on such Loan and the denominator of which is 360.
LIBOR Break Amount means the amount, if any, required to compensate each Holder for any losses, costs or expenses (excluding loss of profit) which it may incur as the result of the prepayment (including any by virtue of an acceleration) (or the failure to make any such prepayment on the date irrevocably scheduled therefor) of any Loan Certificate held by it on a date other than the last day of the then current Interest Period therefor, including, without limitation, losses, costs or expenses incurred in connection with unwinding or liquidating any deposits or funding or financing arrangement with its funding sources, as reasonably determined by such Holder. Without limiting the effect of the preceding sentence, such compensation shall include an amount equal to the excess, if any, of (i) the amount of interest which otherwise would have accrued on the principal amount so prepaid (including any by virtue of an acceleration) from the date of such prepayment (including any by virtue of an acceleration) to the last day of such Interest Period (the “ Break Period ”) at the LIBOR therefor in excess of (ii) the interest component of the amount the affected Holder would have bid in the London interbank market for Dollar deposits of leading banks in amounts comparable to such principal amount and with maturities comparable to the Break Period (as reasonably determined by such Holder). Each Holder shall provide a certificate to the Borrower documenting its calculation of LIBOR Break Amount.