Xxxxx’x Recovery Rate definition

Xxxxx’x Recovery Rate means, with respect to any Asset, as of any date of determination, the recovery rate determined in accordance with the following, in the following order of priority:
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Xxxxx’x Recovery Rate means, with respect to any Middle Market Loan or ABS Direct Loan, the recovery rate specified by Xxxxx’x for such Loan: Xxxxx’x Category Recovery Rate Senior Secured ABL Loan 60 % Senior Secured Loan 50 % Stretch Senior Secured Loan 50 % LOT Loan 40 % Second Lien Loan 40 % Subordinated Loan 30 % DIP Loan 50 % ABS Direct Loan 25 %
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Xxxxx’x Recovery Rate using the values set forth in the applicable Monthly Report on the tab referencing “Collateral Summary Report”, (iii) calculate the Xxxxx’x Diversity Score by reference to the Diversity Score Table set forth in Annex III hereto for the related Aggregate Industry Equivalent Unit Score set forth therein in accordance with the provisions of such Annex using the values set forth in the applicable Monthly Report on the tab referencing “Xxxxx’x Diversity Score”, (iv) calculate the Xxxxx’x Asset Correlation Factor in accordance with the Xxxxx’x asset correlation methodology set forth in Annex IV using the values set forth in the applicable Monthly Report on the tab referencing “Xxxxx’x Asset Correlation” and (v) provide the Servicer with a report of such calculations and of any discrepancies with the Weighted Average Xxxxx’x Rating Factor, Weighted Average Xxxxx’x Recovery Rate, Xxxxx’x Diversity Score or Xxxxx’x Asset Correlation Factor calculated by the Borrower, or by the Servicer on its behalf.
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Examples of Xxxxx’x Recovery Rate in a sentence

  • For purposes of determining the Weighted Average Xxxxx’x Recovery Rate, the Collateral Value of a Defaulted Loan shall be deemed to be zero.

  • The Collateral Manager shall deliver to Xxxxx’x, the Collateral Administrator, the Trustee and the Initial Purchaser a report calculating the Diversity Score, the Weighted Average Xxxxx’x Rating Factor, the Weighted Average Floating Spread and the Weighted Average Xxxxx’x Recovery Rate, in each case, as of the Closing Date.


More Definitions of Xxxxx’x Recovery Rate

Xxxxx’x Recovery Rate has the meaning set forth on Schedule F hereto.
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Xxxxx’x Recovery Rate. With respect to any Loan Obligation, 60%.
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Xxxxx’x Recovery Rate means, with respect to any Loan, the recovery rate specified by Xxxxx’x for such Loan; provided that prior to the time that such Loan has been assigned a recovery rate by Xxxxx’x, the Xxxxx’x Recovery Rate with respect to such loan shall be deemed to be the percentage specified in the table below: Xxxxx’x Category Recovery Rate Type 1: U.S. or Canadian Obligor senior secured Loan with first priority perfected Lien 50 % Type 2: U.S. or Canadian Obligor senior secured “second lien” or “last-out” Loan 40 % Type 3: U.S. or Canadian Obligor senior unsecured Loan 30 % Type 4: U.S. or Canadian Obligor senior subordinated Loan or junior subordinated Loan 15 % Type 5: Non-US, Non-Canadian Obligor any Loan 0 %
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Xxxxx’x Recovery Rate means, with respect to any Loan, the recovery rate specified by Xxxxx’x for such Loan; provided that (i) the Xxxxx’x Recovery Rate for any Loan for which the Xxxxx’x Rating has been determined pursuant to clause (e) of the definition of “Xxxxx’x Rating”, shall be determined in accordance with Annex B hereto, and (ii) prior to the time that such recovery rate has been specified by Xxxxx’x or so determined, the Xxxxx’x Recovery Rate with respect to such loan shall be deemed to be the percentage specified in the table below: Xxxxx’x Category Recovery Rate Type 1: U.S. or Canadian Obligor senior secured Loan with first priority perfected Lien 50 % Type 2: U.S. or Canadian Obligor senior secured “second lien” or “last-out” Loan 40 % Type 3: U.S. or Canadian Obligor senior unsecured Loan 30 % Type 4: Non-U.S., Non-Canadian Obligor any Loan 0 %
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Xxxxx’x Recovery Rate has the meaning assigned to such term in Schedule 7.
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Related to Xxxxx’x Recovery Rate

  • S&P Recovery Rate With respect to a Collateral Obligation, the recovery rate set forth in Section 1 of Schedule 4 using the Initial Rating of the most senior Class of Secured Notes Outstanding at the time of determination.

  • Moody’s Recovery Rate With respect to any Collateral Obligation, as of any date of determination, the recovery rate determined in accordance with the following, in the following order of priority:

  • Recovery Rate means, in relation to any UK Four institution the percentage of the original face value of senior unsecured debt obligations of the affected UK Four institution, as derived by the Calculation Agent from either the ISDA Auction Final Price or the Market Value.

  • Replacement Reference Rate means a reference rate which is:

  • Weighted Average Adjusted Net Mortgage Rate For any Distribution Date and Loan Group, the average of the Adjusted Net Mortgage Rate of each Mortgage Loan in that Loan Group, weighted on the basis of its Stated Principal Balance as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date).

  • Weighted Average Net Mortgage Rate With respect to any Distribution Date, the weighted average of the applicable Net Mortgage Rates of the Mortgage Loans as of the first day of the related Due Period, weighted on the basis of their respective Stated Principal Balances as of the first day of such Due Period (after giving effect to any payments received during any applicable grace period).

  • Penalty Rate means the Stated Rate plus two percent (2.00%) per annum of the Liquidation Price of each share of Series A Preferred Stock.

  • Day Rate means the rate per day per grade tendered by the Supplier in the Supplier’s proposal that shall never be exceeded within this Contract;

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.

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

  • Weekly Rate means the interest rate on the Bonds established in accordance with Section 2.03(b) hereof.

  • Rolling Three Month Delinquency Rate With respect to any Distribution Date, the fraction, expressed as a percentage, equal to the average of the Delinquency Rates for each of the three (or one and two, in the case of the first and second Distribution Dates, respectively) immediately preceding calendar months.

  • Primary Servicing Fee Rate means, with respect to each Mortgage Loan, the rate that corresponds to such Mortgage Loan set forth on Exhibit A hereto under the heading “Primary Servicing Fee.”

  • SOFR Rate means the rate that will be obtained by the Paying Agent for each Interest Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, means, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

  • Daily Rate means the rate specified as such in the Reference Rate Terms.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • Amortization rate means the amortization rate, as defined in Section 49-11-102, to be applied to the system that would have covered the retiree if the retiree's reemployed position were deemed to be an eligible, full-time position within that system.

  • Reset Reference Rate means in respect of a Reset Period, the gross redemption yield (as calculated by the Agent Bank on the basis set out by the United Kingdom Debt Management Office in the paper “Formulae for Calculating Gilt Prices from Yields”, page 5, Section One: Price/Yield Formulae “Conventional Gilts”; Double dated and Undated Gilts with Assumed (or Actual) Redemption on a Quasi-Coupon Date (published 8 June 1998, as amended or updated from time to time) or if such basis is no longer in customary market usage at such time, in accordance with generally accepted market practice at such time, on a semi-annual compounding basis (rounded up (if necessary) to four decimal places) of the Benchmark Gilt in respect of that Reset Period, with the price of the Benchmark Gilt for the purpose of determining the gross redemption yield being the arithmetic average (rounded up (if necessary) to the nearest 0.001 per cent. (0.0005 per cent. being rounded upwards)) of the bid and offered prices of such Benchmark Gilt quoted by the Reset Reference Banks at 11.00 a.m. (London time) on the Reset Determination Date in respect of such Reset Period on a dealing basis for settlement on the next following dealing day in London. Such quotations shall be obtained by or on behalf of the Issuer and provided to the Agent Bank. If at least four quotations are provided, the Reset Reference Rate will be determined by reference to the rounded arithmetic mean of the quotations provided, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If only two or three quotations are provided, the Reset Reference Rate will be determined by reference to the rounded arithmetic mean of the quotations provided. If only one quotation is provided, the Reset Reference Rate will be determined by reference to the rounded quotation provided. If no quotations are provided, the Reset Reference Rate will be the previous Reset Reference Rate or (in the case of the first Reset Period) 1.581 per cent., where:

  • Delinquency Rate With respect to any calendar month, the fraction, expressed as a percentage, the numerator of which is the aggregate outstanding principal balance of all Mortgage Loans 60 days Delinquent or more (including all foreclosures, bankruptcies and REO Properties) as of the close of business on the last day of such month, and the denominator of which is the Pool Balance as of the close of business on the last day of such month.

  • Adjusted Net Mortgage Rate As to each Mortgage Loan and at any time, the per annum rate equal to the Mortgage Rate less the Expense Fee Rate.

  • Utilization Fee Rate means the percentage set forth in Schedule 1 hereto beside the then applicable Level.