Weighted Average Swap Rate means, as of any date of determination, the sum of:
Weighted Average Swap Rate means any substitute rate per annum selected by the Administrative Agent in its reasonable discretion. For purposes of this definition, any interpolated swap rate shall be determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) as the swap rate that results from interpolating on a linear basis between: (A) the applicable swap rate for the longest tenor then published by a nationally recognized source for interest and swap rate quotations that is shorter than the tenor of the applicable notional interest rate swap (calculated as the Weighted Average Life as of such date, divided by 12) and (B) the applicable swap rate for the shortest tenor then published by a nationally recognized source for interest and swap rate quotations that is longer than the tenor of the applicable notional interest rate swap (calculated as the Weighted Average Life as of such date, divided by 12).
Weighted Average Swap Rate means, as of any date of determination, the result of (I) the sum of (x) the product of (i) the 5-year USD Libor Swap Rate (USSW) as of such date of determination, and (ii) the Financed Unpaid Balance of all Eligible Receivables with an Original Term greater than 36 months, plus (y) the product of (i) the 3-year USD Libor Swap Rate (USSW) as of such date of determination, and (ii) the Financed Unpaid Balance of all Eligible Receivables with an Original Term of 36 months or less, divided by (II) the aggregate Financed Unpaid Balance of all Eligible Receivables in the Receivable Pool.
More Definitions of Weighted Average Swap Rate
Weighted Average Swap Rate means, as of any date of determination, the actual weighted average of the Swap Rates on the Hedging Agreements entered into by the SPV based on the Scheduled Notional Amount of each such Hedging Agreement.
Weighted Average Swap Rate means, as of any date of determination, the interpolated swap rate on such date for a notional USD LIBORfixed-to-floating interest rate swap having a tenor (expressed in years) equal to the quotient of the Weighted Average Life as of such date, divided by 12; provided, however, that if on any date of determination the LIBO Rate is no longer the Benchmark or if the Administrative Agent has determined that the USD LIBOR swap rates necessary for such interpolation are no longer published by a nationally recognized source for interest and swap rate quotations, then either (a) the foregoing reference to “USD LIBOR” shall be deemed to mean (and to have been replaced by) a substitute reference rate corresponding to the Benchmark and selected by the Administrative Agent, for which swap rates at the necessary tenors are then being published a nationally recognized source for interest and swap rate quotations, or (b) if in the Administrative Agent’s judgment (i) no substitute reference rate meeting the criteria set forth in clause (a) above is then available or (ii) the applicable published swap rates do not adequately and fairly reflect the cost of entering into actualfixed-to-floating interest rate swaps based on such reference rate and having the applicable tenors, then the “Weighted Average Swap Rate” shall mean any substitute rate per annum selected by the Administrative Agent in its reasonable discretion. For purposes of this definition, any interpolated swap rate shall be determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) as the swap rate that results from interpolating on a linear basis between: (A) the applicable swap rate for the longest tenor then published by a nationally recognized source for interest and swap rate quotations that is shorter than the tenor of the applicable notional interest rate swap (calculated as the Weighted Average Life as of such date, divided by 12) and (B) the applicable swap rate for the shortest tenor then published by a nationally recognized source for interest and swap rate quotations that is longer than the tenor of the applicable notional interest rate swap (calculated as the Weighted Average Life as of such date, divided by 12).
Weighted Average Swap Rate. The product of the Applicable Swap Rate for an allocated amount and the Amortization Weight applicable to that amount.
Weighted Average Swap Rate means, as of any date of determination, (i) if there is no Canadian Swap Notional Deficit or U.S. Swap Notional Deficit, the Weighted Average Actual Swap Rate, and (ii) if there is a Canadian Swap Notional Deficit or a U.S. Swap Notional Deficit, a percentage equal to (A) the sum of (i) (x) the Weighted Average Interpolated Canadian Swap Rate times (y) the U.S. Dollar Equivalent of the Canadian Swap Notional Deficit, plus (ii) (x) the Weighted Average Interpolated U.S. Swap Rate times (y) the U.S. Swap Notional Deficit, plus (iii) (x) the Weighted Average Actual Swap Rate times (y) the aggregate amount of the notional amounts in all the Interest Rate Hedging Agreements (calculated using the U.S. Dollar Equivalent in the case of any notional amounts denominated in Canadian Dollars), divided by (B) an amount equal to 95% of the Aggregate Outstanding Loan Amount. “Xxxxx Fargo” is defined in the preamble.
Weighted Average Swap Rate means, as of any date of determination, the result of (I) the sum of (x) the product of (i) the 5-year USD Libor Swap Rate (USSW) as of such date of determination, and (ii) the Financed Unpaid Balance of all Eligible Receivables with an Original Term greater than 36 months, plus (y) the product of (i) the 3-year USD Libor Swap Rate (USSW) as of such date of determination, and (ii) the Financed Unpaid Balance of all Eligible Receivables with an Original Term of 36 months or less, divided by (II) the aggregate Financed Unpaid Balance of all Eligible Receivables in the Receivable Pool. “Weighted Average Life” means, as of any date of determination, with respect to all Receivables in the Receivable Pool which are Eligible Receivables, the number of months obtained by: (a) summing the products obtained by multiplying (i) the Average Life as of such date of determination of each such Receivable, by (ii) the Financed Unpaid Balance of such Pool Receivable; and dividing such sum by: (b) the aggregate Financed Unpaid Balances at such time of all Pool Receivables which are Eligible Receivables. “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. “Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write- down and conversion powers are described in the EU Bail-In Legislation Schedule. “Yield” means, for any day with respect to any Rate Tranche for the Receivable Pool: LF = the Liquidation Fee, if any, for such day. “Yield and Fee Reserve” means as of any date of determination, the product of:
Weighted Average Swap Rate means, as of any date of determination, the interpolated swap rate on such date for a notional USD LIBOR fixed-to-floating interest rate swap having a tenor (expressed in years) equal to the quotient of the Weighted Average Life as of such date, divided by 12; provided, however, that if on any date of determination the LIBO Rate is no longer the Benchmark or if the Administrative Agent has determined that the USD LIBOR swap rates necessary for such interpolation are no longer published by a nationally recognized source for interest and swap rate quotations, then either (a) the foregoing reference to “USD LIBOR” shall be deemed to mean (and to have been replaced by) a substitute reference rate corresponding to the Benchmark and selected by the Administrative Agent, for which swap rates at the necessary tenors are then being published a nationally recognized source for interest and swap rate quotations, or (b) if in the Administrative Agent’s judgment (i) no substitute reference rate meeting the criteria set forth in clause (a) above is then available or (ii) the applicable published swap rates do not adequately and fairly reflect the cost of entering into actual fixed-to-floating interest rate swaps based on such reference rate and having the applicable tenors, then the “Weighted Average Swap Rate” shall mean any substitute rate per annum selected by the Administrative Agent in its reasonable discretion. For purposes of this definition, any interpolated swap rate shall be determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) as the swap rate that results from interpolating on a linear basis between: (A) the applicable swap rate for the longest tenor then published by a nationally recognized source for interest and swap rate quotations that is shorter than the tenor of the applicable notional interest rate swap (calculated as the Weighted Average Life as of such date, divided by 12) and (B) the applicable swap rate for the shortest tenor then published by a nationally recognized source for interest and swap rate quotations that is longer than the tenor of the applicable notional interest rate swap (calculated as the Weighted Average Life as of such date, divided by 12).
Weighted Average Swap Rate means in relation to each Utilization the weighted average of the Fixed Rate Swap Equivalents being the sum of all Installment Weights in that Utilization multiplied by their respective Fixed Rate Swap Equivalents.