definiens: means the weighted average per annum yield to maturity payable by Spinco in respect of the Ind ebtedness for borrowed money that has been or would be incurred on or prior to the Closing Date to fund th e Cash Distribution under ( I ) then - available commit ments in respect of the Financing, ( II ) the then - available c ommitments in respect of the Alternative Financing and ( III ) any Permanent Financing that has been consumm ated, which weighted average yield shall be determi ned by reference to, in the case of ( x ) the funded or comm itted portion of any bank or bridge credit faciliti es whose pricing is based on a floating rate of interest, th e LIBOR rate ( in respect of the applicable currency in which such bank or bridge credit facilities are denominated ) f or a 3 - month interest period on the date immediatel y prior to the date of determination ( which shall take into ac count any applicable on such LIBOR rate set forth in the financing documentation governing such bank or bridge credit facilities ) plus the relevant applica ble margin at Closing plus any OID ( as used in this Agreement, means any original issue discount or upfront fees ( other than arrangement fees with respect to bank o r bridge credit facilities, gross spread on debt se curities and other similar fees ), with OID being equated to inte rest based on an assumed four - year life to maturity with respect to any bank credit facilities ( e.g., 100 ba sis points in OID equals 25 basis points of applica ble margin ) ( other than any 364 - day bridge credit facility, wit h respect to which OID shall be equated with applic able margin on a basis point - for basis point basis ( e.g., 25 ba sis points of OID equals 25 basis points of applica ble margin ) ), and amortized over the life of the instrument with respect to the debt instruments described in clause ( z ) below, and in each case without any present value discount ) thereon, ( y ) the funded or committed portion of a ny bank or bridge credit facilities, whose pricing is based on a fixed rate of interest, the per annum yield ( inc luding OID ) on such bank or bridge credit at Closing and ( z ) any d ebt securities, the per annum yield to maturity ( in cluding OID ) on such debt securities