Spread Maintenance definition

Spread Maintenance means the present value of the sum of the related monthly payments for the period from the date of prepayment through and including the nineteenth (19th) Payment Due Date (recalculated as if the Applicable Interest Rate included only the Margin) discounted at an interest rate per annum equal to the One Year LIBOR Rate, such determination to be made by Lender in the exercise of its sole discretion, which calculation shall be conclusive, absent manifest error.
Sample 1
Spread Maintenance means, with respect to any repayment of any of the outstanding principal amount of the Loan prior to and including the Spread Maintenance Outside Date (whether a voluntary or mandatory prepayment), a payment to Lender in an amount equal to the sum of the present values as of the date of prepayment of each future installment of the Spread portion (i.e. the portion attributable to the Spread portion of the Applicable Interest Rate and not to the LIBOR portion) of each payment of interest that would have been payable under the Loan on the amount of the Loan being prepaid from the date of such prepayment through, and including, the Spread Maintenance Outside Date, such future installments of the Spread portion of each payment of interest to be discounted to present value at a rate per annum, compounded monthly, equal to 30-day LIBOR as it exists on the date of such prepayment.
Sample 1
Spread Maintenance means, with respect to any repayment or prepayment of all or any portion of the Outstanding Principal Balance (or acceleration of the Loan) prior to the Spread Maintenance End Date, a payment in an amount equal to the product of (x) the Applicable Margin, (y) the portion of the Loan which is being repaid that is subject to a spread maintenance fee as specified in Section 2.06; and (z) a fraction, the numerator of which is the number of days following the date through which interest on the prepaid amount has been paid to the end of the full interest accrual period associated with the Spread Maintenance End Date and the denominator of which is 360.
Sample 1

Examples of Spread Maintenance in a sentence

  • Borrower’s obligations under this Section 2.2.5 are in addition to Borrower’s obligations to pay any Spread Maintenance Premium applicable to a payment or prepayment of the Loan.

  • All Spread Maintenance Premium payments hereunder shall be deemed to be earned by Lender upon the funding of the Loan.

  • No Spread Maintenance Premium shall be due in connection with any prepayment made pursuant to this Section 2.4.2(a).

  • Notwithstanding anything herein to the contrary, no Spread Maintenance Premium shall be due in connection with any prepayment made pursuant to this Section 2.4.3(c).

  • Upon any repayment or prepayment of the Loan (including in connection with an acceleration of the Loan but excluding in connection with any mandatory prepayment pursuant to Section 2.4.3(a) (except where such prepayment arises as a result of a Voluntary Action) or Section 2.4.3(c)) made prior to the Spread Maintenance Date, Borrower shall pay to Lender on the date of such repayment or prepayment (or acceleration of the Loan) the Spread Maintenance Premium applicable thereto.

  • No Spread Maintenance Premium shall be owing on any such prepayment unless such Property became a Disqualified Property as a result of a Voluntary Action.

  • For the avoidance of doubt, no Spread Maintenance Premium shall be due in connection with any prepayment made pursuant to this Section 2.4.2(c).

  • Any such application to the Debt before or on the Spread Maintenance Date after an Event of Default shall be subject to the Spread Maintenance Premium, if any, applicable thereto.

  • Such Spread Maintenance Premium shall be required whether payment is made by Borrower, by a Person on behalf of Borrower, or by the purchaser at any foreclosure sale, and may be included in any bid by Lender at such sale.

  • Borrower shall not be required to pay a Spread Maintenance Premium or any other prepayment premium in connection with any prepayment made pursuant to this Section 2.6(b).


More Definitions of Spread Maintenance

Spread Maintenance means for each of Note A, Note B, and each Conversion Note, the present value of the sum of the related monthly payments for the period from the date of prepayment through and including the eighteenth (18th) Payment Due Date (recalculated as if the Applicable Interest Rate included only the Margin) discounted at an interest rate per annum equal to the One Year LIBOR Rate. The Spread Maintenance shall be equal to the sum of the calculations separately determined for each such Note A, Note B, and Conversion Note (if any), such determination to be made by Lender in the exercise of its sole discretion, which calculation shall be conclusive, absent manifest error.
Sample 1
Spread Maintenance means the product of (a) the Spread, (b) the prepaid amount of the Loan, and (c) a fraction, the numerator of which is the number of days between the date of prepayment and the twelve (12) month anniversary of the date hereof and denominator of which is 360.
Sample 1
Spread Maintenance means, with respect to any prepayment of the Loan prior to the Initial Maturity Date, an amount equal to the product of (a) the A Piece Percentage of such prepayment, (b) 1100 basis points, and (c) a fraction, the numerator of which shall equal the actual number of days from the date of such prepayment through the Initial Maturity Date and the denominator of which is 360.
Sample 1
Spread Maintenance means, with respect to any prepayment of the Loan prior to the February 9, 2011, an amount equal to the product of (a) the A Piece Percentage of such prepayment, (b) 1500 basis points, and (c) a fraction, the numerator of which shall equal the actual number of days from the date of such prepayment through the February 9, 2011 and the denominator of which is 360.”
Sample 1
Spread Maintenance shall have the meaning attributed to such term in Section 1.06(a)(iii) hereof.
Sample 1
Spread Maintenance means the product of (a) (1) if the Loan is being prepaid in full, the full amount of the Loan or (2) if the Loan is being prepaid in part, an amount equal to the product of the percentage of the amount of the Loan that is being prepaid multiplied by the full amount of the Loan multiplied by (b) the Applicable Margin, multiplied by (c) the quotient of (1) the number of full months remaining to the end of the Spread Maintenance Period as of the date on which prepayment will be made divided by (2) 12; and
Sample 1

Related to Spread Maintenance

  • Spread Maintenance Premium means, with respect to any payment or prepayment, an amount equal to the product of the following: (i) the LIBOR Margin, the Alternate Rate Spread or the Base Rate Spread then applicable to each such future installment of interest, multiplied by (ii) the principal amount of the Loan so prepaid, and multiplied by (iii) a fraction, the numerator of which is the number of days following the date through which interest on the prepaid amount has been paid through and including December 14, 2019, and the denominator of which is 360.

  • Yield Maintenance Period means the period from and including the date of this Note until but not including the Scheduled Initial Maturity Date.

  • Yield Maintenance Premium means the amount (if any) which, when added to the remaining principal amount of this Note, will be sufficient to purchase U.S. Obligations providing the required Scheduled Defeasance Payments; and

  • Yield Maintenance Charge With respect to any Mortgage Loan or Serviced Companion Loan, the yield maintenance charge or prepayment premium, if any, payable under the related Note in connection with certain prepayments.

  • Yield Maintenance Amount means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value of the Called Principal of such Note over the sum of (i) such Called Principal plus (ii) interest accrued thereon as of (including interest due on) the Settlement Date with respect to such Called Principal. The Yield-Maintenance Amount shall in no event be less than zero.

  • Scheduled Maintenance means any adjustment, repair, removal, disassembly, cleaning, or replacement of components or systems required by the manufacturer which is performed on a periodic basis to prevent part failure or equipment or engine malfunction, or anticipated as necessary to correct an overt indication of malfunction or failure for which periodic maintenance is not appropriate.

  • Yield Maintenance Agreement The yield maintenance agreement between the Trustee, on behalf of the Trust, and the Counterparty, which will be primarily for the benefit of the Class 1-CB-1 Certificates, substantially in the form attached hereto as Exhibit Q. The Yield Maintenance Agreement shall not be an asset of any REMIC formed under this Agreement.

  • Planned Maintenance means any Maintenance BT has planned to do in advance.

  • Operation and Maintenance Costs means the costs of:

  • Operation and Maintenance or “O&M” shall mean all activities required to operate, maintain, and monitor the effectiveness of the RA as specified in the SOW or any EPA-approved O&M Plan.

  • Operations and maintenance means a project delivery method in which the District enters into a single contract for the routine operation, routine repair, and routine maintenance of an infrastructure facility.

  • Maintenance Charges means the charges payable by the applicant to the Maintenance Agency in accordance with the demand raised by the Maintenance Agency for the maintenance and up keep of the said building/ said complex, including common areas and facilities but does not include; (a) the charges for actual consumption of utilities in the Dwelling Unit including but not limited to electricity, water, which shall be charged based on actual consumption on monthly basis and (b) any statutory payments, taxes, with regard to the Dwelling Unit/ said building/said complex.

  • Deferred Maintenance means improvements necessary for continued operations which do not improve productivity or alter the process technology.

  • Yield Maintenance Account The separate trust account maintained and held by the Trustee pursuant to Section 3.16, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trust on behalf of the Class A Certificateholders, and which account provides that the Trustee may make, or cause to be made, withdrawals therefrom in accordance with Section 3.16.

  • Routine maintenance means activities to keep an impervious surface as near as possible to its constructed condition. This includes ordinary maintenance activities, resurfacing paved areas, and exterior building changes or improvements which do not materially increase or concentrate stormwater runoff, or cause additional nonpoint source pollution.

  • Operation and Maintenance Expenses or ‘O&M expenses' means the expenditure incurred on operation and maintenance of the project, or part thereof, and includes the expenditure on manpower, repairs, spares, consumables, insurance and overheads;

  • Maintenance Period means the period so specified in an adoption agreement as a period of time—

  • Maintenance Window means the weekly maintenance windows for the Cloud Service identified in xxxxx://xxxxxxx.xxx.xxx/maintenance-windows. SAP may update the Maintenance Window from time to time in accordance with the Agreement.

  • Maintenance Schedule means a document which describes the specific scheduled maintenance tasks and their frequency of completion necessary for the safe operation of those aircraft to which it applies;

  • Maintenance area means any geographic region of the United States previously designated nonattainment pursuant to the CAA Amendments of 1990 and subsequently redesignated to attainment subject to the requirement to develop a maintenance plan under Section 175A of the CAA, as amended.

  • Generator Maintenance Outage means the scheduled removal from service, in whole or in part, of a generating unit in order to perform necessary repairs on specific components of the facility, if removal of the facility meets the guidelines specified in the PJM Manuals.

  • Major maintenance means the adjustment, repair or replacement of a component or module that could affect the accuracy of a measurement.

  • Prosecution and Maintenance or “Prosecute and Maintain” means, with regard to a Patent Right, the preparing, filing, prosecuting and maintenance of such Patent Right, as well as handling re-examinations, reissues, and requests for patent term extensions with respect to such Patent Right, together with the conduct of interferences, the defense of oppositions and other similar proceedings with respect to the particular Patent Right. For clarification, “Prosecution and Maintenance” or “Prosecute and Maintain” will not include any other enforcement actions taken with respect to a Patent Right.

  • Maintenance Outage means NERC Event Type MO, as set forth in attached Exhibit B, and includes any outage involving ten percent (10%) of the Facility’s Net Output that is not a Forced Outage or a Planned Outage.

  • Software Maintenance means the process of modifying software after delivery to correct faults, improve performance or other attributes, or adapt to a changed environment. (Reference ISO/IEC 14764:2006, as amended or superseded.) Software maintenance does not include any customization or configuration.

  • Support and Maintenance Services means the support and maintenance services described in Section 1 of these Support Terms.