MFN Requirement definition

MFN Requirement means that the all-in yield (taking into consideration interest rate margins, original issue discount (“OID”), upfront fees (which shall be deemed to constitute like amounts of OID) payable by Borrower to the relevant Lenders (with OID being equated to interest based on an assumed four-year life to maturity), but disregarding any arranger fees or LIBOR or Base Rate floor, of the First Lien Incremental Facility will not be more than 75 basis points higher than the corresponding all-in yield for the existing First Lien Term Facility, calculated consistently, but giving effect to any increase in interest rate margins or additional fees (which shall be deemed to constitute like amounts of OID) provided with respect to the existing First Lien Term Facility in connection with such issuance and/or syndication.
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MFN Requirement means, with respect to any applicable Indebtedness, if the All-In Yield applicable to such Indebtedness exceeds by more than fifty (50) basis points per annum the All-In Yield then in effect for any Initial Term Loans or Delayed Draw Term Loans, as applicable, then the Applicable Rate of the existing Initial Term Loans or Delayed Draw Term Loans, as applicable, shall increase by an amount equal to such difference minus fifty (50) basis points; provided that if the applicable Indebtedness includes an interest rate floor greater than the applicable interest rate floor under any existing Initial Term Loans or Delayed Draw Term Loans, as applicable, such differential between the interest rate floors shall be equated to the Applicable Rate for purposes of determining whether an increase to the Applicable Rate under such Initial Term Loans or Delayed Draw Term Loans, as applicable, shall be required, but only to the extent an increase in the interest rate floor for such Initial Term Loans or Delayed Draw Term Loans, as applicable, would cause an increase in the interest rate then in effect thereunder, and in such case the interest rate floor (but not the Applicable Rate) applicable to such Initial Term Loans or Delayed Draw Term Loans, as applicable, shall be increased to the extent of such differential between interest rate floors.
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MFN Requirement has the meaning set forth in clause (25) of the definition of “Permitted Liens”.
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Examples of MFN Requirement in a sentence

  • Conceptually, the Bank’s value-added is the difference in the program’s development impact with and without the Bank’s involvement.


More Definitions of MFN Requirement

MFN Requirement means, with respect to any Indebtedness, the requirement that if the applicable margins (or similar measure of interest margin) for such Indebtedness are more than 0.50% per annum higher than the Applicable Margins for the Initial Term Loans, then the Applicable Margins for the Initial Term Loans shall be increased to the extent necessary so that the Applicable Margins for the Initial Term Loans are equal to the applicable margins for the Incremental Term Loans minus 0.50%; provided, further, that (A) in determining the Applicable Margins applicable to the Initial Term Loans and such Indebtedness, (x) any pricing floor and any OID or upfront fees shall be included (with OID being equated to interest based on an assumed four year life to maturity) and (y) customary arrangement or underwriting fees not payable to all Lenders in connection with the Initial Term Loans or such Indebtedness shall be excluded and (B) any such increase in the Applicable Margins for the Initial Term Loans required due to the application of any pricing floor shall be effected solely through the increase of the floor set forth in clause (b) of the definition of “Adjusted Eurodollar Rate”.
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MFN Requirement means that the all-in yield (taking into consideration interest rate margins, a Term SOFR or Base Rate floor (to the extent, but only to the extent, any such “floor” exceeds the Term SOFR for a three month interest period or Base Rate, as applicable, on the date of determination of the all-in yield), original issue discount (“OID”), upfront fees (which shall be deemed to constitute like amounts of OID) payable by Borrowers to the relevant Lenders (with OID, upfront fees, as applicable, being equated to interest based on an assumed four-year life to maturity), but disregarding any arranger fees, of the Second Lien Incremental Facility secured on a pari passu basis with the obligations under the Second Lien Term Facility will not be more than 50 basis points higher than the corresponding all-in yield for the existing Second Lien Term Facility, calculated consistently, but giving effect to any increase in interest rate margins or additional fees (which shall be deemed to constitute like amounts of OID) provided with respect to the existing Second Lien Term Facility in connection with such issuance and/or syndication.
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Related to MFN Requirement

  • Margin Requirement means the amount of money and/ or assets that the Client is required to deposit and/ or hold with the Firm as consideration for entering into a Transaction and/ or maintaining an Open Position on its Account;

  • Perfection Requirements means the making or procuring of filings, stampings, registrations, notarisations, endorsements, translations and/or notifications of any Finance Document (and/or any Security created under it) necessary for the validity, enforceability (as against the relevant Obligor or any relevant third party) and/or perfection of that Finance Document.

  • Risk Retention Requirements means the credit risk retention requirements of Section 15G of the Exchange Act (15 U.S.C. §78o-11), as added by Section 941 of the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act.

  • Data Protection Requirements means (i) Data Protection Laws; (ii) Privacy Policies, and (iii) Data Protection Orders.

  • Default Requirement means the amount specified as being applicable to the Reference Entity in the Standard, or its equivalent in the relevant Obligation Currency (or, if no such amount is specified, U.S.$ 10,000,000 or its equivalent in the relevant Obligation Currency) in either case, as of the occurrence of the relevant Credit Event.

  • MREL Requirement means the minimum requirement for own funds and eligible liabilities which is or, as the case may be, will be applicable to the Issuer;

  • Minimum Requirements means the minimum requirements for available commercial structures. The minimum requirements may be found at this link: https://portlandgeneral.com/energy- choices/renewable-power/green-future-impact The minimum requirements may be updated from time to time to reflect PGE’s criteria from its latest Commission accepted renewable request for proposals.

  • Day-ahead Scheduling Reserves Requirement means the sum of Base Day-ahead Scheduling Reserves Requirement and Additional Day-ahead Scheduling Reserves Requirement.

  • Mandatory City Requirements means those City laws set forth in the San Francisco Municipal Code, including the duly authorized rules, regulations, and guidelines implementing such laws that impose specific duties and obligations upon Contractor.