Applicable Margins and Fees Sample Clauses

Applicable Margins and Fees. (a) [Reserved].
Sample 1Sample 2Sample 3
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Applicable Margins and Fees. The ABR Applicable Margin, the LIBOR Applicable Margin and the Applicable Commitment Fee Percentage to be used in calculating the interest rate applicable to different types of Advances and the Commitment Fee shall vary from time to time in accordance with the ratio of Total Indebtedness to EBITDA: Ratio of LIBOR ABR Applicable Total Indebtedness to Applicable Applicable Commitment EBITDA Margin Margin Fee Percentage -------------------- ---------- ---------- -------------- Less than 2.5 1.50% 0.50% 0.25% 2.5 or over, but less than 3.0 1.75% 0.75% 0.30% 3.0 or over, but less than 3.5 2.00% 1.00% 0.40% 3.5 or over, but less than 4.0 2.25% 1.25% 0.45% 4.0 or over, but less than 4.5 2.50% 1.50% 0.50% 4.5 or over, but less than 4.75 2.75% 1.75% 0.55% The Applicable Margins and Applicable Commitment Fee Percentage will change only quarterly upon delivery of a compliance certificate in the form of attached hereto, reflecting the ratio of Total Indebtedness to EBITDA as of the last day of the preceding fiscal quarter as disclosed on the financial statements for such fiscal quarter delivered to the Lenders.
Sample 1
Applicable Margins and Fees. The Applicable Base Rate Margin, the Applicable SOFR Margin, the Applicable L/C Rate, and the Applicable Unused Line Fee Percentage shall be determined based on the Leverage Ratio as reported in the most recent Compliance Certificate (delivered to Administrative Agent pursuant to Section 8) by reference to Table 1 below: Table 1 Level Leverage Ratio Applicable Base Rate Margin Applicable SOFR Rate Margin/ Applicable L/C Rate Applicable Unused Line Fee Percentage I ≥ 3.25 1.50% 2.50% 0.500% II < 3.25 1.125% 2.125% 0.375% III < 2.25 0.75% 1.75% 0.250% IV < 1.50 0.375% 1.375% 0.250% 2.4.2
Sample 1
Applicable Margins and Fees. The Applicable Base Rate Margin, the Applicable LIBOR Margin, and Applicable Unused Line Fee Percentage shall be determined based on the Leverage Ratio as reported in the most recent Compliance Certificate (delivered to Administrative Agent pursuant to Section 8) by reference to Table 1 below: Table 1 Level Leverage Ratio Applicable Base Rate Margin Applicable LIBOR Margin Applicable Unused Line Fee Percentage I <3.0 1.50% 3.00% 0.65% II >3.0 but less than 3.5 2.00% 3.50% 0.75% III >3.5 but less than 4.0 2.50% 4.00% 1.00% IV >4.0 3.00% 4.50% 1.25% Notwithstanding the foregoing, Level II rates shall apply for all Loans made from the Closing Date until Administrative Agent has received a Compliance Certificate, satisfactory in form and substance to Administrative Agent, for Borrower’s Fiscal Quarter ending December 31, 2009.
Sample 1
Applicable Margins and Fees. The Applicable Base Rate Margin, the Applicable SOFR Margin, the Applicable L/C Rate, and the Applicable Unused Line Fee Percentage shall be determined, (i) with respect to Non-Extended Revolving Loans, based on the Leverage Ratio (Non-Extended Margin) as reported in the most recent Compliance Certificate (delivered to Administrative Agent pursuant to Section 8) by reference to Part A of Table 1 below and (ii) with respect to Extended Revolving Loans, for the first nine (9) months following the Amendment No. 4 Effective Date, at the rates per annum shown opposite Level I of Part B of Table 1 below, and thereafter, at the rates per annum shown opposite Levels II, III and IV of Part B of Table 1 below based on the Leverage Ratio as reported in the most recent Compliance Certificate (delivered to Administrative Agent pursuant to Section 8): -68- Xxxxxx Lease Finance Corporation Fourth Amended and Restated Credit Agreement Table 1 Part A Non-Extended Revolving Loans Level Leverage Ratio (Non- Extended Margin) Applicable Base Rate Margin Applicable SOFR Rate Margin/ Applicable L/C Rate Applicable Unused Line Fee Percentage I ≥ 3.25 1.500% 2.500% 0.500% II < 3.25 1.125% 2.125% 0.375% III < 2.25 0.750% 1.750% 0.250% IV < 1.50 0.375% 1.375% 0.250% Part B Extended Revolving Loans Level Leverage Ratio Applicable Base Rate Margin Applicable SOFR Rate Margin/ Applicable L/C Rate Applicable Unused Line Fee Percentage I N/A 2.000% 3.000% 0.500% II > 4.00 2.000% 3.000% 0.625% III < 4.00 1.750% 2.750% 0.625% IV < 3.50 1.500% 2.500% 0.500% (d) Term SOFR Conforming Changes. In connection with the use or administration of Term SOFR, Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. Administrative Agent will promptly notify Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR. 2.4.2
Sample 1
Applicable Margins and Fees. The ABR Applicable Margin and the LIBOR Applicable Margin to be used in calculating the interest rate applicable to different types of Advances and the Commitment Fee shall vary from time to time in accordance with the ratings for the Operating Partnership's or Equity Inns' long-term, senior unsecured debt as follows: No Rating Pricing Period in Effect: LIBOR ABR Applicable Applicable Margin Margin ----------------- -------------- Consolidated Total Indebtedness as a Percentage of Total Value less than or equal to 25% 1.775% 0.10% over 25%, but less than or equal 1.875% 0.25% to 35% over 35%, but less than or equal 2.00% 0.30% to 40% over 40% 2.25% 0.35% Rating Pricing Period in Effect: LIBOR ABR Rating Level of Lower of Two Highest Applicable Margin Applicable Margin Ratings* ------------------------------------ ----------------- ----------------- A-/A3 1.50% 0.0% BBB+/Baa1 1.625% 0.0% BBB/Baa2 1.75% 0.0% BBB-/Baa3 1.875% 0.0% * Rating levels established by reference to S&P and Moody's ratings, respectively. At least one of S&P or Moody's ratings must always be included in the two ratings used. The Applicable Margins when no Rating Pricing Period is in effect will change only quarterly and upon delivery of a compliance certificate in the form of Exhibit H attached hereto, when the Total Value is determined. When a Rating Pricing Period is in effect, all Applicable Margins shall change as and when the applicable rating level changes. In the event an agency issues different ratings for the Operating Partnership and Equity Inns, then the higher rating for the two entities shall be deemed to be the rating from such agency.
Sample 1
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Applicable Margins and Fees. The ABR Applicable Margin, the LIBOR Applicable Margin and the Applicable Commitment Fee Percentage to be used in calculating the interest rate applicable to different types of Advances and the Commitment Fee shall vary from time to time in accordance with the ratings for the Operating Partnership's or Equity Inns' long-term, senior unsecured debt as follows: No Rating Pricing Period in Effect: LIBOR ABR Applicable Consolidated Total Indebtedness as a Applicable Applicable Commitment Percentage of Total Value Margin Margin Fee Percentage ------------------------------------- ---------- ---------- -------------- less than 25% 1.40% 0.10% 0.20% 25% or over, but less than 35% 1.50% 0.25% 0.20% 35% or over, but less than 40% 1.625% 0.30% 0.25% 40% or over 1.75% 0.35% 0.30% Rating Pricing Period in Effect:
Sample 1

Related to Applicable Margins and Fees

  • Applicable Margins The ABR Applicable Margin and the LIBOR Applicable Margin to be used in calculating the interest rate applicable to different Types of Advances shall vary from time to time in accordance with the long-term unsecured debt ratings from Xxxxx’x, and Fitch of the General Partner and the Borrower. In the event the General Partner and the Borrower have different ratings, the rating of the higher rated entity shall be used. In the event the rating agencies are split on the rating for the higher rated entity, the lower rating for such entity shall be deemed to be the applicable rating (e.g., if the higher rated entity’s Xxxxx’x debt rating is Baa1, and its Fitch’s rating is BBB, then the Applicable Margins shall be computed based on the Fitch rating), and the Applicable Margins shall be adjusted effective on the next Business Day following any change in the higher rated entity’s Xxxxx’x debt rating, and/or Fitch’s debt rating, as the case may be. The applicable debt ratings and the Applicable Margins are set forth in the table attached as Exhibit A. In the event that Fitch or Xxxxx’x shall discontinue their ratings of the REIT industry, the General Partner or the Borrower, a mutually agreeable substitute rating agency (or two mutually agreeable substitute agencies if both existing rating agencies discontinue such ratings) shall be selected by the Required Lenders and the Borrower. If the Required Lenders and the Borrower cannot agree on a substitute rating agency or substitute rating agencies within thirty (30) days after such discontinuance, or if Fitch and Xxxxx’x shall discontinue their ratings of the REIT industry, the Borrower, or the General Partner, the Applicable Margin to be used for the calculation of interest on Advances hereunder shall be the highest Applicable Margin for each Type. If a rating agency downgrade or discontinuance results in an increase in the ABR Applicable Margin, the LIBOR Applicable Margin, or Facility Fee Rate and if such downgrade or discontinuance is reversed and the affected Applicable Margin is restored within ninety (90) days thereafter, at the Borrower’s request, the Borrower shall receive a credit against interest next due the Lenders equal to interest accrued from time to time during such period of downgrade or discontinuance and actually paid by the Borrower on the Advances at the differential between such Applicable Margins, and the differential of the Facility Fee paid during such period of downgrade. If a rating agency upgrade results in a decrease in the ABR Applicable Margin, LIBOR Applicable Margin or Facility Fee Rate and if such upgrade is reversed and the affected Applicable Margin is restored within ninety (90) days thereafter, Borrower shall be required to pay an amount to the Lenders equal to the interest differential on the Advances and the differential on the Facility Fees during such period of upgrade.

  • Applicable Margin The following percentages per annum, based upon the Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to §8.4(c): Level Total Leverage Ratio Eurodollar Rate Loans / Letter of Credit Fees Base Rate Loans Commitment Fee I ≥ 3.75x 2.00% 1.00% 0.35% II < 3.75x and ≥ 3.25x 1.75% 0.75% 0.30% III < 3.25x and ≥ 2.50x 1.50% 0.50% 0.25% IV < 2.50x 1.25% 0.25% 0.20% Any increase or decrease in the Applicable Margin resulting from a change in the Total Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to §8.4(c); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then, upon the request of the Required Lenders, Level I shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and shall remain in effect until the date on which such Compliance Certificate is delivered. The Applicable Margin in effect from the Sixth Amendment Effective Date through the date of delivery of the Compliance Certificate for the period ending March 31, 2019 (pursuant to §8.4(c)), with the financial statements to be delivered pursuant to §8.4(a), shall initially be set at Level II and in any event shall be no lower than Level II. Notwithstanding the foregoing to the contrary, in the event either the Borrowers or the Administrative Agent determines, in good faith, that the calculation of the Total Leverage Ratio on which the Applicable Margin for any particular period was determined is inaccurate and, as a consequence thereof, the Applicable Margin was lower or higher than it should have been, (i) the Borrowers shall promptly deliver (but in any event within ten (10) Business Days after the Borrowers discover such inaccuracy or the Borrowers are notified by the Administrative Agent of such inaccuracy, as the case may be) to the Administrative Agent correct financial statements for such period (and if such financial statements are not accurately restated and delivered within thirty (30) days after the first discovery of such inaccuracy by the Borrowers or such notice, as the case may be, and the Applicable Margin was lower than it should have been, then Level I shall apply retroactively for such period until such time as the correct financial statements are delivered and, upon the delivery of such corrected financial statements, thereafter the corrected Level shall apply for such period), (ii) the Administrative Agent shall determine and notify the Borrowers of the amount of interest that would have been due in respect of outstanding Obligations, if any, during such period had the Applicable Margin been calculated based on the correct Total Leverage Ratio (or, to the extent applicable, the Level I Applicable Margin if such corrected financial statements were not delivered as provided herein) and (iii) the applicable Borrower shall promptly pay to the Administrative Agent the difference, if any, between that amount and the amount actually paid in respect of such period. The foregoing notwithstanding shall in no way limit the rights of the Administrative Agent or the Lenders to exercise their rights to impose the rate of interest applicable during an Event of Default as provided herein.

  • Interest and Applicable Margins (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders with respect to the various Loans made by each Lender (or in the case of the Swing Line Loan, for the benefit of the Swing Line Lender), in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances which are designated as Index Rate Loans (and for all other Obligations not otherwise set forth below), the Index Rate plus the Applicable Revolver Index Margin per annum or, with respect to the Revolving Credit Advances which are designated as LIBOR Loans, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum; (ii) with respect to such portion of the Term Loan designated as an Index Rate Loan, the Index Rate plus the Applicable Term Loan Index Margin per annum or, with respect to such portion of the Term Loan designated as a LIBOR Loan, the applicable LIBOR Rate plus the Applicable Term Loan LIBOR Margin per annum; and (iii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum. As of the Closing Date, the Applicable Margins are as follows: Applicable Revolver Index Margin 1.50 % Applicable Revolver LIBOR Margin 2.75 % Applicable Term Loan Index Margin 1.50 % Applicable Term Loan LIBOR Margin 2.75 % The Applicable Revolver Index Margin and the Applicable Revolver LIBOR Margin shall be adjusted (up or down) prospectively on a quarterly basis as determined by Holdings’ and its Subsidiaries’ consolidated financial performance, commencing with the first day of the first calendar month that occurs more than one (1) day after delivery of Holdings’ quarterly Financial Statements to Lenders for the Fiscal Quarter ending March 31, 2008. Adjustments in the Applicable Revolver Index Margin and the Applicable Revolver LIBOR Margin will be determined by reference to the following grids: If Leverage Ratio is: Level of Applicable Margins: < 2.50:1.00 Level I › 2.50:1.00, but < 3.00:1.00 Level II › 3.00:1.00, but < 3.50:1.00 Level III › 3.50:1.00, but < 5.00:1.00 Level IV › 5.00:1.00 Level V Applicable Margins Level I Level II Level III Level IV Level V Applicable Revolver Index Margin 0.50% 1.00% 1.25% 1.50% 2.00% Applicable Revolver LIBOR Margin 1.75% 2.25% 2.50% 2.75% 3.25% All adjustments in the Applicable Revolver Index Margin and the Applicable Revolver LIBOR Margin after March 31, 2008 shall be implemented quarterly on a prospective basis, for each calendar month commencing at least one (1) day after the date of delivery to Lenders of the quarterly unaudited Financial Statements evidencing the need for an adjustment. Concurrently with the delivery of those Financial Statements, Borrower shall deliver to Agent and Lenders a certificate, signed by its chief financial officer, setting forth in reasonable detail the basis for the continuance of, or any change in, such Applicable Margins. Failure to timely deliver such Financial Statements in accordance with Section 6.2 hereof shall, in addition to any other remedy provided for in this Agreement, result in an increase in such Applicable Margins to the highest level set forth in the foregoing grid, until the first day of the first calendar month following the delivery of those Financial Statements demonstrating that such an increase is not required. If any Default or an Event of Default has occurred and is continuing at the time any reduction in such Applicable Margins is to be implemented, that reduction shall be deferred until the first day of the first calendar month following the date on which all Defaults or Events of Default are waived or cured.

  • Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate (a) All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurodollar Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

  • Facility Fees During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Administrative Agent for the account of the Lenders a facility fee equal to the daily aggregate amount of the Commitments (whether or not utilized) times a rate per annum equal to the Applicable Facility Fee. Such fee shall be payable quarterly in arrears on the first day of each January, April, July and October during the term of this Agreement and on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero. The Borrower acknowledges that the fee payable hereunder is a bona fide commitment fee and is intended as reasonable compensation to the Lenders for committing to make funds available to the Borrower as described herein and for no other purposes.

  • Fee Rate The fee shall be at the annual rate of 0.65% of the average daily net assets of the Fund.

  • Interest Rates and Letter of Credit Fee Rates Payments and Calculations (a) Interest Rates. Except as provided in Section 2.13(c) and Section 2.15(a), all Obligations (except for the undrawn portion of the face amount of Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin, or (ii) the maximum rate of interest allowed by applicable laws; provided, that following notice to Borrower in accordance with Section 2.15(a) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal, during the duration of the circumstances described in Section 2.15(a), to the lesser of (A) the Base Rate plus the Applicable Margin as calculated pursuant to Section 2.15(a) or (B) the maximum rate of interest allowable by applicable laws.

  • Applicable Rate The Applicable Rate shall be the following amounts per annum, based upon the ratio of Funded Debt to EBITDA (the “Financial Test”), as set forth in the most recent compliance certificate (or, if no compliance certificate is required, the Borrower’s most recent financial statements) received by the Bank as required in the Covenants section; provided, however, from the date hereof until the date on which Bank has received the first compliance certificate or financial statement from the Borrower, the Applicable Rate shall be equal to the Daily Simple SOFR plus two percent (2.00%). Applicable Rate (in percentage points per annum) Pricing Level Funded Debt to EBITDA Daily Simple SOFR + 1 Greater than or equal to 3.0 to 1.0 2.60 % 2 Greater than or equal to 2.5 to 1.0 but less than 3.0 to 1.0 2.30 % 3 Less than 2.5 to 1.0 2.00 % The Applicable Rate shall be in effect from the date the most recent compliance certificate or financial statement is received by the Bank until the date the next compliance certificate or financial statement is received; provided, however, that if the Borrower fails to timely deliver the next compliance certificate or financial statement, the Applicable Rate from the date such compliance certificate or financial statement was due until the date such compliance certificate or financial statement is received by the Bank shall be the highest pricing level set forth above. If, as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the Borrower or the Bank determines that (i) the Financial Test as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Financial Test would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the Bank an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. The Bank’s acceptance of payment of such amounts will not constitute a waiver of any default under this Agreement. The Borrower’s obligations under this paragraph shall survive the termination of this Agreement and the repayment of all other obligations.

  • Interest Rates and Fees (a) Tranche A Loans. The following interest and fees shall be payable with respect to Tranche A Loans:

  • Pricing Grid Pricing Level Leverage Ratio Applicable Margin for Eurodollar Loans Applicable Margin for Base Rate Loans Applicable Margin for Letter of Credit Fees Applicable Percentage for Commitment Fees I Greater than or equal to 2.50:1.00 3.25% per annum 2.25% per annum 3.25% per annum 0.50% per annum II Less than 2.50:1.00 but greater than or equal to 2.00:1.00 3.00% per annum 2.00% per annum 3.00% per annum 0.50% per annum III Less than 2.00:1.00 but greater than or equal to 1.50:1.00 2.75% per annum 1.75% per annum 2.75% per annum 0.45% per annum

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