Assignment Of Interest Rate Cap
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How to fill out Assignment Of Member Interest In Limited Liability Company - LLC?
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FAQ
Interest Cap Premium = (Index Level ? Strike Price) x (Days in Period / 360) x (Notional Amount)
ASSIGNMENT OF RATE CAP means that certain Collateral Assignment of Interest Rate Hedge Agreement, dated as of the date hereof, executed by Borrower in connection with the Loan for the benefit of Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.
Example of Interest Rate Cap An adjustable-rate mortgage (or ARM) is one of the best examples of an interest rate cap in a lending setting. In an adjustable-rate mortgage, borrowers pay a fixed rate of interest in the first few years of the loan and then a variable rate after that.
An interest rate cap has three primary economic terms: the loan amount covered by the cap (the notional), the duration of the cap (the term), and the level of rates (the strike rate) above which the cap will pay out. As an example, a $100M, 3-year, 3% strike cap will pay out if SOFR exceeds 3% over the next 3 years.
Interest Rate Cap Documents means the Pledge, Interest Rate Cap Agreement and any and all other documents required pursuant thereto or hereto or as Lender shall require from time to time in connection with Borrower's obligation to maintain an Interest Rate Cap for the term of the Variable Facility Commitment.