Lower Collar definition

Lower Collar. With respect to each Distribution Date, the applicable per annum rate set forth under the heading "1ML Strike Lower Collar" in the One-Month LIBOR Corridor Table (set forth on Exhibit H).
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Lower Collar. With respect to each Distribution Date, the applicable per annum rate set forth under the heading "Lower Collar" in the One-Month LIBOR Cap Table herein.
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Lower Collar has the meaning assigned to such term in Section 3.1(a).
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Examples of Lower Collar in a sentence

  • If the Estimated Net Working Capital is less than $18,000,000 (the "Lower Collar"), Lear shall cause the applicable Seller(s) to pay to the applicable Buyer(s) at Closing a sum equal to the amount by which the Estimated Net Working Capital is less than the Lower Collar.

  • The Class A-2A Cap Contract Notional Balances are as described in the following table: CLASS (1) With respect to any Distribution Date, if One-Month LIBOR (as determined by the Cap Contract Counterparty and subject to a cap equal to 9.420%) exceeds the Lower Collar, the Issuing Entity will receive payments pursuant to the Class A-2A Cap Contract.

  • It TABLE 6 OCCUPATIONAL COMPOSITION- BY COMMUNITY CATEGORY, FOR URBAN SETTLEMENTS, 1961 OCCUPATIONAL DISTRIBUTION (%)t __ _ _ _ _ __ - OCCUPATIONAL Upper Lower STATUS SCORES White White Upper Lower Collar Collar Manual MIanual Observed Predicted COMMUNITY CATEGORY (1) (2) (3) (4) Total (5) (6) Development towns .

  • However, Indecon’s ex ante report warned that inappropriate redevelopment could damage the historic urban fabric of Ireland’s cities.

  • Lower Collar $93.53 Upper Collar $114.32 If the share price at closing is outside of the collar, there will be an impact on purchase price.

  • The “Final Cash Consideration” will be the Base Cash Consideration plus (1) the amount, if any, by which Final Net Working Capital exceeds the Upper Collar Amount, minus (2) the amount, if any, by which the Lower Collar Amount exceeds Final Net Working Capital, plus (3) Final Closing Cash, minus (4) Final Closing Indebtedness, minus (5) Final Seller Transaction Expenses, minus (6) Final Taxes Payable.

  • Acknowledgement that the employee remains employed at will and that the telecommuting agreement does not constitute a contract of employment.

  • Upon determination of the Final Adjustment Statement pursuant to Section 2.3.4, a dollar-one adjustment to the Purchase Price shall be made and paid by the applicable Party to the other Party pursuant to the terms hereof with regard to the Closing Working Capital only if the Closing Working Capital exceeds the Working Capital Top Collar or the Closing Working Capital is less than the Working Capital Lower Collar, as applicable.

  • If the Closing Operating Working Capital is less than $3,272,000 (the “Lower Collar Amount”), the Purchase Price will be decreased by an amount equal to (i) the Lower Collar Amount, less (ii) the Closing Operating Working Capital (the “Purchase Price Decrease Amount”).

  • Although I recognise that for a credit card economy to flourish there must be economic incentives [i.e. profit] for businesses to issue and accept credit cards, experience in the US has shown that fiscally uneducated and irresponsible consumers will get over their head in debt when presented with a ―buy now—pay later‖ product.


More Definitions of Lower Collar

Lower Collar means the Target Working Capital minus One Million Dollars ($1,000,000).
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Lower Collar. With respect to each Distribution Date, the xxxxxxxxxx xxx xxxxx xxte set forth under the heading "Lower Collar" in the One-Month LIBOR Cap Table herein.
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Lower Collar means the amount equal to the Target Net Working Capital Amount minus $2,000,000.
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Lower Collar in the schedule to the related Cap Contract, (ii) an amount equal to the lesser of (x) the related Cap Contract Notional Balance for such Distribution Date and (y) the outstanding Certificate Principal Balance of the related classes of Certificates and (iii) the number of days in such Accrual Period, divided by 360. If a payment is made to the Issuing Entity under a Cap Contract and the Trustee is required to distribute excess amounts to the holders of the Class C Certificates as described above, information regarding such distribution will be included in the monthly statement made available on the Trustee's website pursuant to Section 4.05 hereof.
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Lower Collar has the meaning set forth in Section 2.5(e).
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Lower Collar has the meaning set forth in Section 1.13(a).
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Related to Lower Collar

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Risk Weighted Assets means the risk weighted assets or total risk exposure amount, as calculated by the Company in accordance with the Capital Regulations applicable to the Regulatory Group as at that point in time.

  • Adjustable Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Strike Rate means a fixed rate of interest under the Cap Agreement that does not exceed the Original Strike Rate. Rate Cap Agreement and Rate Cap Agreement Reserve Fund RIDER TO MULTIFAMILY LOAN AND SECURITY AGREEMENT TRADE NAMES (Revised 3-1-2014) The following changes are made to the Loan Agreement which precedes this Rider:

  • Current Portfolio At any time, the portfolio of Collateral Obligations and Cash and Eligible Investments representing Principal Proceeds (determined in accordance with Section 1.3 to the extent applicable), then held by the Issuer.

  • LIBOR Spread means, at any date or any period of determination, the LIBOR Spread that would be in effect on such date or during such period pursuant to the chart set forth in Section 2.22 based on the rating of the Borrower's senior unsecured long-term debt.

  • Weighted Average Floating Spread means, as of any date of determination, the number, expressed as a percentage, obtained by summing the products obtained by multiplying, in the case of each Floating Rate Portfolio Investment included in the Borrowing Base, on an annualized basis, the Spread of such Floating Rate Portfolio Investments, by the outstanding principal balance of such Floating Rate Portfolio Investments as of such date and dividing such sum by the aggregate outstanding principal balance of all such Floating Rate Portfolio Investments and rounding the result up to the nearest 0.01%.

  • Adjusted Net Maximum Mortgage Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed-Rate Mortgage Loan) as of the first day of the month preceding the month in which the related Distribution Date occurs minus the sum of (i) the Trustee Fee Rate and (ii) the Servicing Fee Rate.

  • ARM Loan A Mortgage Loan, if any, the Mortgage Interest Rate of which is subject to periodic adjustment in accordance with the terms of the related Mortgage Note.

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to 5.50 years.

  • Adjustable Rate Mortgage Loan A Mortgage Loan serviced pursuant to this Agreement under which the Mortgage Interest Rate is adjusted from time to time in accordance with the terms and provisions of the related Mortgage Note.

  • Weighted Average Spread means, as of any day, the number expressed as a percentage equal to (i) the Aggregate Funded Spread divided by (ii) the Aggregate Eligible Collateral Obligation Amount (excluding any interest that has been deferred and capitalized on any Deferrable Collateral Obligation).

  • Call Rate means, if the call option has been exercised with respect to the reset rate notes, the rate of interest that is either: • if the reset rate notes did not have at least one related swap agreement in effect during the previous reset period, the floating rate applicable for the most recent reset period during which the Failed Remarketing Rate was not in effect; or • if the reset rate notes had one or more swap agreements in effect during the previous reset period, the weighted average of the floating rates of interest that were due to the related Swap Counterparties from the trust during the previous reset period. The Call Rate will continue to apply for each reset period while the holder of the call option retains the reset rate notes.

  • Weighted Average SOFR means the arithmetic mean of SOFR in effect for each Business Day during the relevant Interest Period, calculated by multiplying the relevant SOFR by the number of calendar days such SOFR is in effect, determining the sum of such products and dividing such sum by the number of calendar days in the relevant Interest Period, provided however that during a Suspension Period, the SOFR for each day during that Suspension Period will be the value for the Business Day immediately prior to the first day of such Suspension Period. For purposes of this provision “Suspension Period” is the number of Business Days prior to the end of the relevant Interest Period as specified in the applicable pricing supplement.

  • Weighted Average Net Mortgage Rate With respect to any Distribution Date, the weighted average of the applicable Net Mortgage Rates of the Mortgage Loans as of the first day of the related Due Period, weighted on the basis of their respective Stated Principal Balances as of the first day of such Due Period (after giving effect to any payments received during any applicable grace period).

  • ABR Spread or "Commitment Fee Percentage", as the case may be, based upon the Rating applicable on such date. =============================================================================== Eurocurrency Commitment Fee S&P Ratings Spread ABR Spread Percentage ----------- ---------------- ---------- -------------- Category 1 ---------- BBB or higher 1.00% .000% .25% Category 2 ---------- BBB- 1.25% .250% .30% Category 3 --------- BB+ 1.625% .625% .35% Category 4 ---------- BB 2.00% 1.00% .40% Category 5 ---------- BB- 2.50% 1.50% .50% Category 6 ---------- Lower than BB- or unrated 3.00% 2.00% .75% =============================================================================== For purposes of the foregoing, (i) if S&P shall not have in effect a Rating, such rating agency shall be deemed to have established a Rating in Category 6; and (ii) if the Rating established or deemed to have been established by S&P shall be changed (other than as a result of a change in the rating system of S&P), such change shall be effective as of the date on which it is first announced by S&P. If the rating system of S&P shall change, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system and, pending the effectiveness of any such amendment, the Applicable Percentage shall be determined by reference to the ratings most recently in effect (or deemed to be in effect) prior to such change. Each change in the Applicable Percentage shall apply to Eurocurrency Loans and ABR Loans outstanding and Commitment Fees accruing during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Replacement Reference Rate means a reference rate which is:

  • 5-year Mid-Swap Rate means, in relation to a Reset Interest Period and the Reset Rate of Interest Determination Date in relation to such Reset Interest Period:

  • Underlying Assets With respect to a Loan, any property or other assets designated and pledged as collateral to secure repayment of such Loan, including, without limitation, to the extent provided for in the relevant Underlying Instruments, a pledge of the stock, membership or other ownership interests in the related Obligor and all Proceeds from any sale or other disposition of such property or other assets.