Maximum Equity Component definition

Maximum Equity Component has the meaning given in Section 3.3(a).
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Maximum Equity Component on any Exchange Business Day, as a percentage of the Total Assets of the Fund, means the Equity Limit for all Classes of Shares, expressed as a percentage, determined in accordance with the formula set forth below: Equity Limit for all Classes of Shares =(Lowest NAV Per Share – Highest Floor)/Lowest NAV Per Share)*Multiple (or zero in the event that the Equity Limit for all Classes of Shares is less than 0.025); provided that the Equity Limit for all Classes of Shares shall not exceed 130% at any time; where, Highest Floor = the product of (i) the Adjusted Discount Factor and (ii) the highest Protected Amount Per Share of any of the four Classes of Shares; Lowest NAV = the lowest NAV Per Share of any of the four Classes of Shares. Per Share where, Adjusted Discount Factor = with respect to each Class of Shares, means the following quotient as determined by the Calculation Agent in a commercially reasonable manner and communicated to the Adviser prior to 9:00 a.m. (Eastern time) on each Exchange Business Day (and if not so communicated, the Adjusted Discount Factor last communicated to the Adviser by the Calculation Agent): (i) the present value discount factor representing the theoretical price, expressed as a percentage of par, of a theoretical zero coupon bond maturing on the Maturity Date, the yield of which is consistent with the Benchmark Yield Curve as of the date of determination; over (ii) an amount, based on the Fee Factor and the time (in years) remaining to the Maturity Date, determined by the Calculation Agent as follows: Fee Factor =0.0200 Multiple = __ t = the time, in years, remaining until the Maturity Date.
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Maximum Equity Component has the meaning given in SECTION 3.3(A).
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Examples of Maximum Equity Component in a sentence

  • All determinations or calculations of any Maximum Equity Component, Adjusted Discount Factor, Shortfall Amount, Aggregate Shortfall Amount, Floor Shortfall and Additional Floor Shortfall and any other determination or calculations the Calculation Agent is permitted or required to make under this Agreement shall for purposes of this Agreement be final, binding and unchallengeable absent manifest error.

  • All ----------------------------------------------------------- determinations or calculations of any Maximum Equity Component, Adjusted Discount Factor, Shortfall Amount, Aggregate Shortfall Amount, Floor Shortfall and Additional Floor Shortfall and any other determination or calculations the Calculation Agent is permitted or required to make under this Agreement shall for purposes of this Agreement be final, binding and unchallengeable absent manifest error.

  • Such notification shall be provided by the Warranty Provider or the Calculation Agent and shall specify the adjusted Multiple and the Maximum Equity Component recalculated using such adjusted Multiple as determined by the Calculation Agent in its sole discretion and based on the other information contained in the latest Daily Report received by the Warranty Provider and/or the Calculation Agent from the Adviser pursuant to Section 3.4(a).


More Definitions of Maximum Equity Component

Maximum Equity Component on any Exchange Business Day, as a percentage of the Total Assets of the Fund, means the Equity Limit for all Classes of Shares, expressed as a percentage, determined in accordance with the formula set forth below: Equity Limit for all Classes of Shares =(Lowest NAV Per Share – Highest Floor)/Lowest NAV Per Share)*Multiple (or zero in the event that the Equity Limit for all Classes of Shares is less than 0.025); provided that the Equity Limit for all Classes of Shares shall not exceed 130% at any time; where, Highest Floor = the product of (i) the Adjusted Discount Factor and (ii) the highest Protected Amount Per Share of any of the four Classes of Shares; Lowest NAV = the lowest NAV Per Share of any of the four Classes of Shares. Per Share where, Adjusted
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Related to Maximum Equity Component

  • Minimum Equity Amount shall have the meaning provided in the recitals to this Agreement.

  • Maximum Incremental Amount means, at any time, the sum of (a) $1,400.0 million minus the Dollar Equivalent amount (measured at the time of incurrence) of New Term Loans, New Revolving Commitments and Permitted Alternative Incremental Facilities Debt previously established or incurred in reliance on this clause (a) plus (b) the aggregate Dollar Equivalent amount (measured at the time of prepayment or reduction) of Term Loans and Revolving Commitments outstanding on the Closing Date (or established pursuant to clause (a) above) that are optionally prepaid or optionally reduced (other than with the proceeds of long-term Indebtedness (other than borrowings under any revolving credit facility) and other than Revolving Commitments replaced with New Revolving Commitments) following the Closing Date and on or prior to such time (and, in the case of any prepayment of Term Loans pursuant to Section 2.08(d), based on the Dollar Equivalent amount (measured at the time of each applicable prepayment) expended by the Borrowers pursuant to such Section 2.08(d) and not the principal amount) plus (c) an unlimited amount so long as, in the case of this clause (c) only, on a pro forma basis (including the application of proceeds therefrom but excluding any increase in cash and cash equivalents and treating any New Revolving Commitments established pursuant to this clause (c) as fully drawn and all Permitted Alternative Incremental Facilities Debt incurred pursuant to this clause (c) as secured by Liens whether or not actually secured (but without giving effect to any substantially simultaneous incurrence of any New Term Loans, New Revolving Commitments or Permitted Alternative Incremental Facilities made pursuant to the foregoing clauses (a) and (b))), the Consolidated Secured Debt Ratio would not exceed 3.00 to 1.00 (it being understood that the Borrowers shall be deemed to have used amounts under clause (c) (to the extent compliant herewith) prior to utilization of amounts under clause (a) or (b)).

  • Specified Equity Contribution means any cash contribution to the common equity of Holdings and/or any purchase or investment in an Equity Interest of Holdings other than Disqualified Equity Interests.

  • Interest Component Each future interest payment, or portion thereof, due on or prior to the Maturity Date, or if the Debt Security is subject to redemption or repayment prior to the Maturity Date, the first date on which such Debt Security is subject to redemption or repayment.

  • Class C Component The Component having such designation.

  • Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.

  • Senior Accelerated Distribution Percentage With respect to any Distribution Date occurring on or prior to the 60th Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, any Loan Group, 100%. With respect to any Distribution Date thereafter and any such Loan Group, if applicable, as follows:

  • Dilution Volatility Component means, at any time, the product (expressed as a percentage) of (i) the difference between (a) the highest three-month rolling average Dilution Ratio over the 12-month period then most recently ended and (b) the Adjusted Dilution Ratio, and (ii) a fraction, the numerator of which is equal to the amount calculated in (i)(a) of this definition and the denominator of which is equal to the amount calculated in (i)(b) of this definition.

  • Class E Component The Component having such designation.

  • Cash Component means the difference between the aggregate Net Asset Value of the Units comprising an Application Unit and the Application Basket Value.

  • Incremental Available Transfer Capability Revenue Rights means the rights to revenues that are derived from incremental Available Transfer Capability created by the addition of Merchant Transmission Facilities or of one of more Customer-Funded Upgrades.

  • Fully Diluted Weighted Average Basis means, when calculating the number of Outstanding Units for any period, a basis that includes (a) the weighted average number of Outstanding Units during such period plus (b) all Partnership Interests and Derivative Partnership Interests (i) that are convertible into or exercisable or exchangeable for Units or for which Units are issuable, in each case that are senior to or pari passu with the Subordinated Units, (ii) whose conversion, exercise or exchange price, if any, is less than the Current Market Price on the date of such calculation, (iii) that may be converted into or exercised or exchanged for such Units prior to or during the Quarter immediately following the end of the period for which the calculation is being made without the satisfaction of any contingency beyond the control of the holder other than the payment of consideration and the compliance with administrative mechanics applicable to such conversion, exercise or exchange and (iv) that were not converted into or exercised or exchanged for such Units during the period for which the calculation is being made; provided, however, that for purposes of determining the number of Outstanding Units on a Fully Diluted Weighted Average Basis when calculating whether the Subordination Period has ended or Subordinated Units are entitled to convert into Common Units pursuant to Section 5.7, such Partnership Interests and Derivative Partnership Interests shall be deemed to have been Outstanding Units only for the four Quarters that comprise the last four Quarters of the measurement period; provided, further, that if consideration will be paid to any Group Member in connection with such conversion, exercise or exchange, the number of Units to be included in such calculation shall be that number equal to the difference between (x) the number of Units issuable upon such conversion, exercise or exchange and (y) the number of Units that such consideration would purchase at the Current Market Price.

  • Corresponding Component As identified in the Preliminary Statement with respect to any Class of Non-Vertically Retained Principal Balance Certificates or Lower-Tier Regular Interest.

  • Original Class B-6 Percentage The Class B-6 Percentage as of the Cut-Off Date, as set forth in Section 11.13.

  • Principal Component The principal payment plus any interest payments that are either due after the date specified in, or are specified as ineligible for stripping in, the applicable Supplemental Agreement.

  • Original Class B-2 Percentage The Class B-2 Percentage as of the Cut-Off Date, as set forth in Section 11.09.

  • Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the Facility Usage on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • Commitment Utilization Percentage means on any day the percentage equivalent to a fraction (a) the numerator of which is the aggregate outstanding principal amount of Revolving Credit Loans, including the aggregate outstanding principal amount of Letters of Credit, Swingline Loans and Competitive Loans, and (b) the denominator of which is the Total Commitment (or, on any day after termination of the Commitments, the Total Commitment in effect immediately preceding such termination).

  • Conversion Percentage means, (A) the number of Class B Ordinary Shares being converted, divided by (B) the total number of Class B Ordinary Shares issued and outstanding (i.e. up to 1,000).

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of the Collateral Loans as of such date is less than or equal to seven (7.0) years.

  • Minimum Dilution Reserve Percentage means, at any time of determination, the product (expressed as a percentage and rounded to the nearest 1/100th of 1%, with 5/1000th of 1% rounded upward) of (a) the average of the Dilution Ratios for the twelve (12) most recent Fiscal Months, multiplied by (b) the Dilution Horizon Ratio.

  • Original Class B-1 Percentage The Class B-1 Percentage as of the Cut-Off Date, as set forth in Section 11.08.

  • Daily Maximum Cash Amount means, with respect to the conversion of any Note, the quotient obtained by dividing (A) the Specified Dollar Amount applicable to such conversion by (B) forty (40).

  • Original Class B-4 Percentage The Class B-4 Percentage as of the Cut-Off Date, as set forth in Section 11.11.

  • Hurdle Amount means for the applicable period, an amount equal to 5.0% of the Beginning VPU.