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 Second Lien Incremental Facility will not be more than 75 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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MFN Requirement has the meaning set forth in clause (25) of the definition of “Permitted Liens”.
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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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Examples of MFN Requirement in a sentence

  • In the event such MFN Requirement is not met then Seller’s exclusive remedy is its release from the Most Favored Nation obligations.


More Definitions of MFN Requirement

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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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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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 Requirement or “Perfection Requirements” shall have the meaning set forth in Section 4(j) of this Agreement.

  • Bid Submission Requirement means a task a Prospective Contractor must complete when submitting a bid response. These requirements will be distinguished by using the term “shall” or “must” in the requirement.

  • Qualification Requirements means the qualification requirements as set forth in Section-2, Clause 2.1 of this RFP;

  • Minimum Participation Requirements means a set of minimum training, risk management, communication and capital or collateral requirements required for Participants in the PJM Markets, as set forth herein and in the Form of Annual Certification set forth as Tariff, Attachment Q, Appendix 1. Participants transacting in FTRs in certain circumstances will be required to demonstrate additional risk management procedures and controls as further set forth in the Annual Certification found in Tariff, Attachment Q, Appendix 1.

  • Certification Requirements means those requirements specified or referenced in this Agreement that you must meet in order to use and maintain the Certification Designation and use the Logo in accordance with the terms of this Agreement.

  • Design requirements means the written description of the infrastructure facility to be procured pursuant to this article, including:

  • 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.

  • Storage Injection Requirements means all volumes required by the Seller for injection into underground storage, including cushion gas, and for liquification, including fuel used for injection and in liquification plants, or for such other storage projects that may be developed expressly for the protection of supply to high priority users.

  • 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 all applicable (i) Data Protection Laws, (ii) Privacy Policies and (iii) those terms of any Contracts imposing obligations on the Company or its Subsidiaries with respect to the Company’s collection, use, storage, disclosure, or cross-border transfer of Personal Data.

  • Reporting Requirement By January 31, 2017, the District will provide for OCR’s review and approval the Web Accessibility Policy drafted consistent with Item 1.

  • 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.

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

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

  • FTR Credit Requirement means the amount of credit that a Participant must provide in order to support the FTR positions that it holds and/or for which it is bidding. The FTR Credit Requirement shall not include months for which the invoicing has already been completed, provided that PJMSettlement shall have up to two Business Days following the date of the invoice completion to make such adjustments in its credit systems. FTR Credit Requirements are calculated and applied separately for each separate customer account.

  • Base Day-ahead Scheduling Reserves Requirement means the thirty-minute reserve requirement for the PJM Region established consistent with the Applicable Standards, plus any additional thirty-minute reserves scheduled in response to an RTO-wide Hot or Cold Weather Alert or other reasons for conservative operations.

  • Medicaid Notification of Termination Requirements Any Contractor accessing payments for services under the Global Commitment to Health Waiver and Medicaid programs who terminates their practice will follow the Department of Vermont Health Access, Managed Care Organization enrollee notification requirements.

  • Additional Day-ahead Scheduling Reserves Requirement means the portion of the Day- ahead Scheduling Reserves Requirement that is required in addition to the Base Day-ahead Scheduling Reserves Requirement to ensure adequate resources are procured to meet real-time load and operational needs, as specified in the PJM Manuals.

  • Liquidity Requirement shall have the meaning as set forth in Section 2.12(b).

  • 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.

  • Applicable effluent standards and limitations means all State and Federal effluent standards and limitations to which a discharge is subject under the Act, including, but not limited to, effluent limitations, standards of performance, toxic effluent standards and prohibitions, and pretreatment standards.

  • Listing Requirements means the Main Market Listing Requirements of Bursa Securities.

  • Statement of Requirements means a statement issued by the Authority or any Other Contracting Body detailing its Services Requirement issued in accordance with the Ordering Procedure;