Weighted Average Spread means, with respect to Floating Rate Obligations (in each case excluding Defaulted Loans), as of any date, the number obtained by:
Weighted Average Spread means, as of any date of determination, an amount (rounded up to the next 0.01%) equal to the weighted average of (a) for Floating Rate Loans, the Weighted Average Floating Spread of the Floating Rate Loans and (b) for Fixed Rate Loans, the excess of the Weighted Average Fixed Coupon of the Fixed Rate Loans over the then-current weighted average strike rate under the Hedge Transactions, or, if there are no Hedge Transactions outstanding, over the then current LIBO Rate.
Weighted Average Spread means, as of any date, the number, expressed as a percentage, obtained by dividing:
Examples of Weighted Average Spread in a sentence
If the Issuer receives any interest payments on any Collateral Obligation net of any applicable withholding tax, the Interest Coverage Tests and the Minimum Weighted Average Spread Test will be determined by reference to such net receipts.
The test that is satisfied on any date of determination if the Weighted Average Spread plus the Excess Weighted Average Coupon equals or exceeds the Minimum Spread.
A percentage equal as of any date of determination to a number obtained by multiplying (a) the excess, if any, of the Weighted Average Spread over the Minimum Spread by (b) the number obtained, including for this purpose any capitalized interest, by dividing the Aggregate Principal Balance of all Floating Rate Obligations by the Aggregate Principal Balance of all Fixed Rate Obligations.
They are allowed to be reported outside the Volume Weighted Average Spread (VWAS) in the market.
The following Trade Types are supported for Manual Trades: Note: The price of Standard Trades needs to be within the Volume Weighted Average Spread (VWAS).
More Definitions of Weighted Average Spread
Weighted Average Spread means, as of any date of determination with respect to all Eligible Loan Assets, the Spread obtained by summing the products obtained for each of the Eligible Loan Assets that are Floating Rate Loan Assets, by multiplying: (a) the Spread of each such Eligible Loan Asset, by the maximum committed funding amount, and dividing such sum by: (b) the aggregate maximum committed funding amounts of all Eligible Loan Assets that are Floating Rate Loan Assets.
Weighted Average Spread means, as of any day, the number expressed as a percentage equal to (i) the Aggregate Funded Spread divided by (ii) the Aggregate Eligible Collateral Obligation Amount.
Weighted Average Spread means, as of any day, the number expressed as a percentage equal to (i) the Aggregate Funded Spread divided by (ii) the Aggregate Eligible Collateral Obligation Amount (excluding any interest that has been deferred and capitalized on any Deferrable Collateral Obligation).
Weighted Average Spread means, as of any date of determination, a fraction (expressed as a percentage) obtained by (a) multiplying the Outstanding Balance of each Eligible Loan Asset (and, in the case of any Delayed Draw Loan Asset or Revolving Loan, the unfunded portion of the commitment thereunder) (other than a Defaulted Loan) included in the Collateral as of such date by its Effective Spread, (b) summing the amounts determined pursuant to clause (a), and (c) dividing the sum determined pursuant to clause (b) above by the aggregate Outstanding Balance of all Eligible Loan Assets (and the unfunded portions of all Delayed Draw Loan Assets and Revolving Loans, as applicable) (other than a Defaulted Loan) included in the Collateral as of such date.
Weighted Average Spread. As of any Measurement Date, a fraction (expressed as a percentage and rounded up to the next 0.001%), (a) the numerator of which is the sum of the products determined by multiplying the outstanding Principal Balance of each Middle Market Loan and ABS Direct Loan (excluding Charged-Off Loans and Delinquent Loans) in the Collateral as of such Measurement Date by (i) in the case of Middle Market Loans or ABS Direct Loans that are Floating Rate Loans, the stated spread above or below LIBOR of the current interest rate applicable to such Loan or (ii) in the case of Middle Market Loans or ABS Direct Loans that are Fixed Rate Loans, the spread above or below LIBOR of the interest rate applicable to such Loan calculated on any Measurement Date by the Servicer in its sole discretion on behalf of the Administrative Agent by subtracting LIBOR from the interest rate of such Loan, and (b) the denominator of which is the sum of the outstanding Principal Balances of all Middle Market Loan and ABS Direct Loans (excluding Charged-Off Loans and Delinquent Loans) in the Collateral as of such Measurement Date; provided that for purposes of this definition, (1) no contingent payment of interest will be included in such calculation; (2) any interest rate payable by an Obligor shall exclude any portion of the interest that is currently being deferred in violation of the terms of the related Required Loan Documents; (3) in the case of an interest rate for a Middle Market Loan or ABS Direct Loan that is a Floating Rate Loan not expressed as a stated spread above or below LIBOR, the stated spread to LIBOR relating to such Loan shall be calculated on any Measurement Date by the Servicer in its sole discretion on behalf of the Administrative Agent by subtracting LIBOR from the interest rate of such Loan; and (4) Middle Market Loans or ABS Direct Loans that are Charged-Off Loans and Delinquent Loans will be included in the calculations described herein if, as of such Measurement Date, such Loans are paying in full current interest pursuant to the terms of their respective Underlying Instruments.
Weighted Average Spread. As of any date of determination, the number obtained (rounded up to the next 0.001%), by (A) summing the products obtained by multiplying (i) with respect to any Loan Obligation (other than a Defaulted Obligation), the greater of (x) the current stated spread above LIBOR (net of any servicing fees and expenses) at which interest accrues on each such Loan Obligation and (y) if such Loan Obligation provides for a minimum interest rate payable thereunder, the excess, if any, of the minimum interest rate applicable to such Loan Obligation (net of any servicing fees and expenses) over LIBOR by (ii) the Principal Balance of such Loan Obligation as of such date, and (B) dividing such sum by the aggregate Principal Balance of all Loan Obligations (excluding all Defaulted Obligations).
Weighted Average Spread means, as of any date, the number determined by summing the number obtained by adding: The Aggregate Funded Spread (with respect to all Collateral Obligations that are not Fixed Rate Obligations) + The Aggregate Unfunded Spread The Aggregate Principal Balance of all Collateral Obligations that are not Fixed Rate Obligations as of such date; provided that if the foregoing amount is less than the Row Spread Level in effect as of such date, then all or a portion of the Weighted Average Spread Adjustment, if any, as of such date, to the extent not exceeding such shortfall, shall be added to such result.