Component Prime Rate Spread definition

Component Prime Rate Spread means, in connection with any conversion of the Loan from a LIBOR Loan to a Prime Rate Loan, with respect to each Component of the Loan, the difference (expressed as the number of basis points) between (a) the sum of (i) LIBOR, determined as of the Interest Determination Date for which LIBOR was last available, plus (ii) the Component Spread applicable to such Component, minus (b) the Prime Rate as of such Interest Determination Date; provided, however, that if such difference is a negative number for such Component, then the Component Prime Rate Spread for such Component shall be zero.
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Component Prime Rate Spread means in connection with any conversion of the Components from a Term SOFR Loan to a Prime Rate Loan, with respect to each Component of the Loan, the difference (expressed as the number of basis points) between (a) the sum of (i) Term SOFR, determined as of the Interest Determination Date for which Term SOFR was last available, plus (ii) the Term SOFR Spread plus (iii) the Component Spread applicable to such Component, minus (b) the Prime Rate as of such Interest Determination Date; provided, however, that if such difference is a negative number for such Component, then the Component Prime Rate Spread for such Component shall be zero.
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Related to Component Prime Rate Spread

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • LIBOR Spread means, at any date or any period of determination, the LIBOR Spread that would be in effect on such date or during such period pursuant to the chart set forth in Section 2.22 based on the rating of the Borrower's senior unsecured long-term debt.

  • LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).

  • Reference Rate means the rate specified as such hereon.

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