Unhedged Variable Rate Debt definition

Unhedged Variable Rate Debt means Indebtedness of the Parent, the Borrower and their Subsidiaries on a consolidated basis (without duplication) which has a floating rate of interest and which interest rate is not fixed, capped or otherwise limited by an interest rate protection product.
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Unhedged Variable Rate Debt means all Debt of the Obligors and their respective Subsidiaries for borrowed money or in respect of reimbursement obligations for letters of credit, guaranty obligations or Capitalized Leases, whether direct or contingent, including, to the extent applicable, the obligations under the Bank Credit Agreement, which bears interest at one or more variable rates and is not subject to an interest rate hedging arrangement having a minimum term of one (1) year and having other terms reasonably acceptable to the Required Holders.
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Unhedged Variable Rate Debt. Any Indebtedness with respect to which the interest is not fixed (or hedged to a fixed rate) or capped for the entire term of such Indebtedness to maturity.
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Examples of Unhedged Variable Rate Debt in a sentence

  • With regard to EPR, the ratio of Unhedged Variable Rate Debt to Total Asset Value shall not exceed twenty-five percent (25%).

  • Unhedged Variable Rate Debt of Loan Parties and their respective Subsidiaries shall not exceed thirty percent (30%) of Gross Asset Value; provided that, at any such time as Borrower has received an Investment Grade Rating, the foregoing covenant shall be of no further force and effect and Borrower shall not be required to comply therewith.

  • The Borrower will not at any time permit the Unhedged Variable Rate Debt of the REIT and its Subsidiaries on a Consolidated basis to exceed twenty percent (20%) of Gross Asset Value.

  • The answer is because historically we have emitted more, being a disproportionate part of the problem, so it is incumbent on us to be a disproportionate part of the solution.

  • The Borrower will not at any time permit the Unhedged Variable Rate Debt of REIT and its Subsidiaries to exceed twenty percent (20%) of Consolidated Total Asset Value.

  • Parent Company shall not at any time permit the Unhedged Variable Rate Debt of Parent Company and its Subsidiaries to exceed thirty-five percent (35%) of Gross Asset Value.

  • As at the end of any two consecutive fiscal quarters and any other date of measurement, the Obligors shall not permit the value of Unhedged Variable Rate Debt to exceed 30% of Gross Asset Value.

  • The aggregate amount of Unhedged Variable Rate Debt shall not exceed 30% of Total Asset Value.

  • Parent Company shall not at any time permit the Unhedged Variable Rate Debt of Parent Company and its Subsidiaries to exceed thirty percent (30%) of Gross Asset Value.

  • The Borrower shall not at any time permit the Unhedged Variable Rate Debt of Borrower and its Subsidiaries to exceed thirty percent (30%) of Gross Asset Value; provided that from and after the date that Agent first receives notice from REIT or Borrower that Borrower has obtained an Investment Grade Rating, the covenant in this §9.5 shall no longer be of any force or effect.


More Definitions of Unhedged Variable Rate Debt

Unhedged Variable Rate Debt means Indebtedness of the Parent, the Borrower and their Subsidiaries on a consolidated basis (without duplication) which has a floating rate of interest and which interest rate is not fixed, capped or otherwise limited by an interest rate protection product. “Unsecured Debt” means all Indebtedness of Borrower, Parent or their direct or indirect subsidiaries which is not Secured Debt, provided that any Indebtedness which is secured primarilysolely by a pledge of Equity Interests and/or cash flow from an entity that owns Real Property shall be deemed Unsecured Debt. “Unsecured Interest Coverage Ratio” means, as of any date of determination for such period of determination, the ratio of (i) the aggregate Net Operating Income from the Pool Properties to
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Related to Unhedged Variable Rate Debt

  • 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.

  • Variable Rate Transaction shall have the meaning ascribed to such term in Section 4.12(b).

  • Term SOFR Reference Rate means the forward-looking term rate based on SOFR.

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;