Variable Rate Indebtedness definition

Variable Rate Indebtedness means any portion of indebtedness or other payment obligations, the interest rate on which is not established at the time of incurrence and has not at some subsequent date been established at a single numerical rate for the entire term thereof.
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Variable Rate Indebtedness means any Debt that bears interest at a variable rate without the benefit of an interest rate hedge or other interest rate protection agreement. For the avoidance of doubt, Variable Rate Indebtedness shall not include the notional amount of caps which protect against an upward movement of the LIBO Rate up to 300 basis points.
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Variable Rate Indebtedness means any Utility Indebtedness which provides for interest to be payable thereon at a rate per annum that may vary from time to time over the term thereof in accordance with procedures provided in the instrument creating such Utility Indebtedness.
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Examples of Variable Rate Indebtedness in a sentence

  • Maintain an aggregate Pro Rata Share of the Debt (including the Loan) of the Consolidated CRT Entities and the Unconsolidated CRT Entities which is Variable Rate Indebtedness of not more than thirty-five (35%) percent of the Total Asset Value.

  • The aggregate pro rata amount of the Indebtedness (including the Obligations) of the Consolidated Group which is Variable Rate Indebtedness shall not exceed twenty percent (20%) of the Total Asset Value.

  • The ratio, expressed as a percentage, of (i) the Indebtedness of the REIT and its consolidated Subsidiaries that is Variable Rate Indebtedness (exclusive of the Indebtedness under this Agreement and the Loan Documents) to (ii) Total Asset Value shall not exceed twenty-five percent (25%) as of the end of the most recently ended fiscal quarter.

  • Commencing on the Effective Date and thereafter until all Loans are paid in full and the Lenders have no further obligation to make Loans hereunder, the Borrower shall maintain in effect Interest Rate Contracts with counterparties and in form reasonably satisfactory to the Agent covering that portion of Borrower's Variable Rate Indebtedness equal to the amount by which Borrower's Variable Rate Indebtedness exceeds 20% of Total GAAP Assets.

  • Permit Total Variable Rate Indebtedness at any time to exceed 25% of Total Asset Value at such time.


More Definitions of Variable Rate Indebtedness

Variable Rate Indebtedness means any Indebtedness that bears interest at a variable rate without the benefit of a Swap Contract.
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Variable Rate Indebtedness means any Parity Bonds, the interest rate on which is subject to periodic adjustment, at intervals, at such times and in such manner as shall be determined by resolution authorizing such Parity Bonds; provided that if the interest rate shall have been fixed for the remainder of the term thereof, it shall no longer be Variable Rate Indebtedness.
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Variable Rate Indebtedness means any System Indebtedness which provides for interest to be payable thereon at a rate per annum that may vary from time to time over the term thereof in accordance with procedures provided in the instrument creating such System Indebtedness.
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Variable Rate Indebtedness means any indebtedness or obligation the interest rate on, or amount of, which is not fixed at the time of incurrence of such indebtedness or obligation, and has not at some subsequent date been fixed, at a single numerical rate for the entire remaining term of the indebtedness or obligation.
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Variable Rate Indebtedness means any portion of Indebtedness the interest rate on which is not established at the time of incurrence at a fixed or constant rate until maturity.
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Variable Rate Indebtedness means, as of any date of determination, any Indebtedness on which the interest rate borne thereby may vary during any part of its remaining term.
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Variable Rate Indebtedness means any indebtedness, including Bonds, Parity Obligations and Subordinate Obligations, the interest rate on which is not fixed at the time of incurrence of such indebtedness, and has not at some subsequent date been fixed, at a single numerical rate or rates for the entire term of the indebtedness.
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