Liquidity Breakage definition

Liquidity Breakage the amount equal to all losses incurred by a Lender (other than a COF Lender) as a result of unwinding its arrangements entered into to reserve Liquidity Costs. Any calculation by such Lender shall be conclusive; provided, that such Lender will furnish to the Borrower an officer’s certificate from a duly authorized officer stating that Liquidity Breakage has been incurred and listing the Liquidity Breakage amount, and the specification of such amount in such officer’s certificate shall be deemed a certification by such Lender that the determinants for calculating the Liquidity Breakage were based on its treasury-assessed liquidity costs as at the applicable dates.
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Liquidity Breakage means, with respect to Helaba and KfW IPEX Bank only and each in its capacity as a Lender only, the amount equal to all losses incurred by it as a result of unwinding its arrangements entered into to reserve Liquidity Costs. Any calculation by such Lender shall be conclusive, absent manifest error; provided, that such Lender will furnish to the Borrower an officer’s certificate from a duly authorized officer stating that Liquidity Breakage has been incurred and listing the Liquidity Breakage amount, and the specification of such amount in such officer’s certificate shall be deemed a certification by such Lender that the determinants for calculating the Liquidity Breakage were based on its actual treasury-assessed liquidity costs as at the applicable dates.
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Liquidity Breakage has the meaning set forth in the Loan Agreement.
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Examples of Liquidity Breakage in a sentence

  • The Issuer may prepay Liquidity Advances drawn down under the Liquidity Facility on any date, in which case the Issuer shall pay to the Liquidity Facility Provider the interest accrued in respect of such Liquidity Advances up to the date of repayment and shall pay to, or receive from, the Liquidity Facility Provider, Liquidity Breakage Amounts (as defined in the relevant Liquidity Facility Agreement) in respect of such prepayments.

  • Liquidity Breakage Amount has the meaning given to such term in the relevant Liquidity Facility Agreement.


More Definitions of Liquidity Breakage

Liquidity Breakage means the amount, if any, required to compensate each Participant for any losses (excluding loss of profit and the type of losses, costs and expenses included in Swap Breakage Loss or LIBOR Breakage) which it incurs (on an actual or notional basis) as the result of (x) any failure to borrow a Loan under Section 2.2 of the Credit Agreement following the issuance of the relevant Notice of Borrowing or (y) any acceleration under Section 4.04(b) of the Security Agreement or prepayment after acceleration under Section 4.04(b) of the Security Agreement of principal or interest on any Loan Certificate held by it or the failure to make any such payment on the date scheduled therefor, including, without limitation, losses incurred in connection with unwinding or liquidating any liquidity arrangements in connection with the establishment of any Liquidity Margin, as reasonably determined by such Participant, which determination shall be conclusive absent manifest error. Annex APage 12 [Definitions]
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Related to Liquidity Breakage

  • Hedge Breakage Costs For any Hedge Transaction, any amount payable by the Seller for the early termination of that Hedge Transaction or any portion thereof.

  • Breakage Costs shall have the meaning set forth in Section 2.2.3(h) hereof.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Funding Lender means Citibank N.A., a national banking association, and any successor under this Funding Loan Agreement and the Borrower Loan Documents.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • L/C Disbursements a payment or disbursement made by the Issuing Lender pursuant to a Letter of Credit.

  • Net Aggregate Prepayment Interest Shortfall With respect to any Distribution Date, the amount, if any, by which (a) the aggregate of all Prepayment Interest Shortfalls incurred in connection with the receipt of Principal Prepayments on the Mortgage Loans during the related Due Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the Certificate Account for such Distribution Date pursuant to Section 3.19 in connection with such Prepayment Interest Shortfalls.

  • Breakage Fee means, for Advances which are repaid (in whole or in part) on any date other than a Payment Date, the breakage costs, if any, related to such repayment, based upon the assumption that the Lender funded its loan commitment in the London Interbank Eurodollar market and using any reasonable attribution or averaging methods which the Lender deems appropriate and practical, it hereby being understood that the amount of any loss, costs or expense payable by the Borrower to any Lender as Breakage Fee shall be determined in the respective Lender Agent’s reasonable discretion and shall be conclusive absent manifest error.

  • Workout-Delayed Reimbursement Amounts With respect to any Mortgage Loan or Serviced Loan Combination, the amount of any Advance made with respect to such Mortgage Loan or Serviced Loan Combination on or before the date such Mortgage Loan or Serviced Loan Combination becomes (or, but for the making of three monthly payments under its modified terms, would then constitute) a Corrected Loan, together with (to the extent accrued and unpaid) interest on such Advances, to the extent that (i) such Advance is not reimbursed to the Person who made such Advance on or before the date, if any, on which such Mortgage Loan or Serviced Loan Combination becomes a Corrected Loan and (ii) the amount of such Advance becomes a future obligation of the Mortgagor to pay under the terms of modified Loan Documents. That any amount constitutes all or a portion of any Workout-Delayed Reimbursement Amount shall not in any manner limit the right of any Person hereunder to determine in the future that such amount instead constitutes a Nonrecoverable Advance.

  • Liquidity Provider has the meaning assigned to such term in the recital of parties to this Agreement.

  • ARD Loan Any Mortgage Loan that provides that if the unamortized principal balance thereof is not repaid on its Anticipated Repayment Date, such Mortgage Loan will accrue Additional Interest at the rate specified in the related Mortgage Note and the Mortgagor is required to apply excess monthly cash flow generated by the related Mortgaged Property to the repayment of the outstanding principal balance on such Mortgage Loan.

  • Special Servicing Fee Rate With respect to each Specially Serviced Mortgage Loan and each REO Loan, 0.25% per annum.

  • Prepayment Period With respect to any Distribution Date, the calendar month preceding the calendar month in which such Distribution Date occurs.

  • Master Servicing Fee Rate With respect to each Mortgage Loan, 0.25% per annum.

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • L/C Disbursement means a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit.

  • Servicing Advances All customary, reasonable and necessary "out of pocket" costs and expenses incurred in the performance by the Master Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any enforcement or judicial proceedings, including foreclosures, (iii) the management and liquidation of any REO Property and (iv) compliance with the obligations under Section 3.09.

  • Replacement Liquidity Provider has the meaning set forth in the Intercreditor Agreement.