Determination of Margin Sample Clauses

Determination of Margin. (a) The Margin shall be determined based on the ratio of Net Senior Debt divided by EBITDA and shall be as follows: Net Senior Debt / EBITDA Margin in % per annum > 2.25 x < 2.75 x 2.75% > 1.75 x < 2.25 x 2.10% > 1.25 x < 1.75 x 1.60% > 0.75 x < 1.25 x 1.25% < 0.75 x 0.90%
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Determination of Margin. As used in the Note, "Margin" means an incremental amount used in determining certain interest rates under the Note. The initial Margin shall be 65 basis points. The Margin shall be adjusted each fiscal quarter of the Borrower on the basis of the Leverage Ratio of the G&K Group as at the end of the previous fiscal quarter, in accordance with the following table: Leverage Ratio Margin (basis points) -------------- --------------------- 3.50 to 1 or more 127.5 3.00 to 1 or more, but less than 3.50 to 1 110 2.50 to 1 or more, but less than 3.00 to 1 90 2.00 to 1 or more, but less than 2.50 to 1 77.5 Less than 2.00 to 1 65 Reductions and increases in the Margin will be made quarterly within five business days following receipt of the Borrower's financial statements and quarterly certificates required under the Multibank Credit Agreement. Notwithstanding the foregoing, (i) if the Borrower fails to deliver any such financial statements or certificates when required under the Multibank Credit Agreement, the Bank may, by notice to the Borrower, increase the Margin to the highest rates set forth above until such time as the Bank has received all such financial statements and certificates, and (ii) no reduction in the Margin will be made if a Default or Event of Default has occurred and is continuing at the time that such reduction would otherwise be made.
Sample 1
Determination of Margin. The Purchase Price shall consist of actual production costs (as defined in Schedule 6) plus a differential (the "Margin") resulting from deducting from the Sales Price (i) the actual production costs, (ii) shipment costs, (iii) taxes and duties and other payments due to government authorities that have been paid by the Marketing Company in respect of the relevant transaction. If Gaifar has paid any additional costs incorporated with sales, these payments will be added to the actual production costs. BICO and the Marketing Company shall be entitled to have Gaifar's actual production costs verified by an independent auditor who shall be granted unlimited access to the production site and to Gaifar's books and records in order to make the assessment. If Gaifar shows, and the independent auditor confirms, that substantial losses of production occur due to failed lots, which are not taken into account in the production costs, the parties will agree on an adequate surcharge to add to the production costs in order to take account of such losses. If the parties cannot agree on such surcharge, they shall submit this dispute to an expert ("Expert") appointed by the parties; if the parties fail to agree on the Expert within two weeks after one party has informed the others of its wish to submit the dispute to the Expert, the Expert shall be nominated by the President of the German American Chamber of Commerce, Frankfurt/M. for binding resolution.
Sample 1
Determination of Margin. The Lender shall calculate the Asset Cover Ratio on the Drawdown Date and on the date falling every 3 months thereafter (each a “Margin Calculation Date”) for the purposes of calculating the applicable Margin and shall advise the Borrower in writing, within 5 Business Days of each Margin Calculation Date, of the applicable Margin which will apply for the 3-month period commencing on the relevant Margin Calculation Date Provided that in respect of each Margin Calculation Date other than the first Margin Calculation Date, the Lender shall only be obliged to advise the Borrower of the Margin which will apply for the 3-month period commencing on the relevant Margin Calculation Date if that Margin will be different to the Margin which applied immediately prior to the relevant Margin Calculation Date. For the purposes of calculating the Asset Cover Ratio pursuant to this Clause 4.12, the Market Value of the Ship shall be determined in accordance with Clause 14.3.
Sample 1
Determination of Margin. The Agent shall review the applicable Margin in relation to each Tranche on the date falling on the earlier of (i) 12 months after the Drawdown Date and (ii) 30 August 2009 (the “Margin Calculation Date”), and shall advise the Borrower in writing within 5 Business Days of the Margin Calculation Date of the Margin which will apply to that Tranche commencing on the Margin Calculation Date Provided that if the Borrower disagrees with the revised Margin the provisions of Clause 8.8(c) and 8.8(d) shall apply.
Sample 1
Determination of Margin. (a) The Agent shall calculate and determine the Margin (having regard to the definition of “Margin” in clause 1.2) at any time when required by it but (i) only on Quarter Dates (or within five (5) Banking Days following a Quarter Date) and (ii) in any event not more frequently than on each Quarter Date (or within five (5) Banking Days after each Quarter Date) of each calendar year. Following each determination by the Agent, the Margin so determined will apply to the Loan as of the Quarter Date on or around which the relevant determination was made.
Sample 1
Determination of Margin. (a) The Margin shall be determined and adjusted from time to time by reference to the lower of the ratings published by either Mxxxx’x or S&P (together, the Rating Agencies) in respect of the Company’s long term corporate credit rating (in the case of S&P) or senior implied rating (in the case of Mxxxx’x), each a relevant rating, such that when such a rating is that which appears in Column A in the table below, the Margin will be the percentage rate per annum which appears next to that rating in Column B. A B (per cent. per
Sample 1
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Determination of Margin. The Lender shall calculate the Market Value on the Drawdown Date and every 6 months thereafter (each a “Margin Calculation Date”) for the purposes of calculating the applicable Margin and shall advise the Borrower in writing of the applicable Margin which will apply for the 6-month period commencing on the relevant Margin Calculation Date Provided that in respect of each Margin Calculation Date other than the first applicable Margin Calculation Date, the Lenders shall only be obliged to advise the Borrowers of the Margin which will apply for the Interest Period commencing on the relevant applicable Margin Calculation Date if that Margin will be different to the Margin which applied immediately prior to the relevant Margin Calculation Date. For the purposes of calculating the Market Value of the Ship pursuant to this Clause 5.14, it shall be determined no more than 30 days prior to the relevant Margin Calculation Date. The valuations of the Ship are to be provided to the Agent at least 5 Business Days prior to the Margin Calculation Date.
Sample 1
Determination of Margin. For the purposes of calculating the Eurodollar Margin Increment in Section 6.2, the Ratio of Earnings to Fixed Charges as at the end of any Fiscal Quarter shall be determined (i) in the case of each of the first three Fiscal Quarters of any Fiscal Year by reference to the certificate from the Company to be delivered to the Bank pursuant to Section 11.1(c) and (ii) in the case of the last Fiscal Quarter of any Fiscal Year, initially by reference to a certificate from the Company to be delivered to the Bank not later than ninety days following the end of such Fiscal Quarter in the form of the certificate delivered pursuant to the foregoing clause (i) (but limited to the calculation of the Ratio of Earnings to Fixed Charges). Each such certificate shall contain the Company's calculation of the Ratio of Earnings to Fixed Charges as at the end of the preceding Fiscal Quarter. Until receipt by the Bank of such certificate, failure of the Company to furnish such certificate on a timely basis shall be deemed (for purposes of Sections 6.2) to constitute an acknowledgement by the Company that the Ratio of Earnings to Fixed Charges is less than 1.25:1. If, in the case of any Fiscal Quarter, the actual Ratio of Earnings to Fixed Charges as at the end of the preceding Fiscal Quarter (as determined by reference to the audited report delivered pursuant to Section 11.1, to any correction with respect to any certificate previously furnished by the Company or to any certificate furnished on an untimely basis) results in a Eurodollar Margin Increment different from that applied in connection with the Company's calculation, such new Eurodollar Margin Increment shall come into effect immediately upon the Bank's receipt of such report, correction or untimely certificate and shall be given retroactive effect to and including the first day of the Fiscal Quarter immediately following the Fiscal Quarter to which such report, correction or untimely certificate relates, and within fifteen days of the Bank's receipt of such report, correction or untimely certificate, either the Company shall pay to the Bank or the Bank shall pay to the Company such amounts as shall be necessary to give effect to such new Eurodollar Margin Increment.
Sample 1

Related to Determination of Margin

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • Determination of Amount In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase Option is exercisable (and in lieu of being entitled to receive Common Stock and Warrants) in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised portion of this Purchase Option into Units ("Conversion Right") as follows: upon exercise of the Conversion Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number of shares of Common Stock and Warrants comprising that number of Units equal to the quotient obtained by dividing (x) the "Value" (as defined below) of the portion of the Purchase Option being converted by (y) the Current Market Value (as defined below). The "Value" of the portion of the Purchase Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units underlying the portion of this Purchase Option being converted from (b) the Current Market Value of a Unit multiplied by the number of Units underlying the portion of the Purchase Option being converted. As used herein, the term "Current Market Value" per Unit at any date means the remainder derived from subtracting (x) the exercise price of the Warrants multiplied by the number of shares of Common Stock issuable upon exercise of the Warrants underlying one Unit from (y) the Current Market Price of the Common Stock multiplied by the number of shares of Common Stock underlying the Warrants and the Common Stock issuable upon exercise of one Unit. The "Current Market Price" of a share of Common Stock shall mean (i) if the Common Stock is listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), the last sale price of the Common Stock in the principal trading market for the Common Stock as reported by the exchange, Nasdaq or the NASD, as the case may be; (ii) if the Common Stock is not listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or the NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), but is traded in the residual over-the-counter market, the closing bid price for the Common Stock on the last trading day preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the fair market value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the Company shall determine, in good faith.

  • Determination of Rates Promptly after the determination of any interest rate provided for herein or any change therein, the Administrative Agent shall notify the Lenders to which such interest is payable and the Borrower thereof. Each determination by the Administrative Agent of an interest rate or fee hereunder shall, except in cases of manifest error, be final, conclusive and binding on the parties.

  • Determination of Fair Market Value For purposes of this Section 10.2, “fair market value” of a share of Common Stock as of a particular date (the “Determination Date”) shall mean:

  • Determination of Treasury Rate Unless otherwise specified in the applicable Pricing Supplement if the Base Rate specified on the face hereof is the Treasury Rate, the “Treasury Rate” means, with respect to any Treasury Rate Determination Date (as defined below), the rate for the auction held on such Treasury Rate Determination Date of direct obligations of the United States (“Treasury bills”) having the Index Maturity specified on the face hereof, as published in H.15(519) under the heading “U.S. Government Securities-Treasury bills-auction average (investment)” or, if not so published by 3:00 P.M., New York City time, on the Calculation Date pertaining to such Treasury Rate Determination Date, the auction average rate (expressed as a bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis) as otherwise announced by the United States Department of the Treasury for Treasury bills on such Treasury Rate Determination Date having the Index Maturity specified on the face hereof. In the event that the results of the auction of Treasury bills having the Index Maturity specified on the face hereof are not published or reported as provided above by 3:00 P.M., New York City time, on such Calculation Date, or if no such auction is held on such Treasury Rate Determination Date, then the Treasury Rate shall be calculated by the Calculation Agent and shall be a yield to maturity (expressed as a bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis) of the arithmetic mean of the secondary market bid rates, as of approximately 3:30 P.M., New York City time, on such Treasury Rate Determination Date, of three leading primary United States government securities dealers selected by the Calculation Agent for the issue of Treasury bills with a remaining maturity closest to the Index Maturity specified on the face hereof; provided, however, that if the dealers selected as aforesaid by the Calculation Agent are not quoting bid rates as mentioned in this sentence, the rate of interest for the applicable period will be the rate of interest in effect on such Treasury Rate Determination Date. The “Treasury Rate Determination Date” will be the day of the week in which the related Interest Reset Date falls on which Treasury bills would normally be auctioned. Treasury bills are normally sold at auction on Monday of each week, unless that day is a legal holiday, in which case the auction is normally held on the following Tuesday, except that such auction may be held on the preceding Friday. If, as the result of a legal holiday, an auction is so held on the preceding Friday, such Friday will be the Treasury Date Determination Date pertaining to the Interest Reset Date occurring in the next succeeding week. If an auction date shall fall on any Interest Reset Date for a Note whose Base Rate is the Treasury Rate, then such Interest Reset Date shall instead be the first Business Day immediately following such auction date. The interest rate for each such Interest Reset Date shall be the Treasury Rate plus or minus the Spread or multiplied by the Spread Multiplier, if any, as indicated on the face hereof.

  • Determination of LIBOR ARTICLE V

  • Determination of Amounts Whenever a Priority Debt Representative shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any First-Out Obligations (or the existence of any commitment to extend credit that would constitute First-Out Obligations), or Second-Out Obligations, or the existence of any Lien securing any such obligations, or the Shared Collateral subject to any such Lien, it may request that such information be furnished to it in writing by the other Priority Debt Representative and shall be entitled to make such determination on the basis of the information so furnished; provided, however, that if a Priority Debt Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Priority Debt Representative shall be entitled to make any such determination by such method as it may, in the exercise of its good faith judgment, determine, including by reliance upon a certificate of the Borrower. Each Priority Debt Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to the Borrower or any of their subsidiaries, any Priority Secured Party or any other Person as a result of such determination.

  • Determination of Market Rent If Tenant timely and appropriately objects to the Market Rent in Tenant’s Acceptance, Landlord and Tenant shall attempt to agree upon the Market Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within twenty-one (21) days following Tenant’s Acceptance (“Outside Agreement Date”), then each party shall make a separate determination of the Market Rent which shall be submitted to each other and to arbitration in accordance with the following items (i) through (vii):

  • Determination of Gross-Up Payment Subject to sub-paragraph (c) below, all determinations required to be made under this Section 6, including whether a Gross-Up Payment is required and the amount of the Gross-Up Payment, shall be made by the firm of independent public accountants selected by the Company to audit its financial statements for the year immediately preceding the Change in Control (the "Accounting Firm") which shall provide detailed supporting calculations to the Company and the Executive within 30 days after the date of the Executive's termination of employment. In the event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group affecting the Change of Control, the Executive may appoint another nationally recognized accounting firm to make the determinations required under this Section 6 (which accounting firm shall then be referred to as the "Accounting Firm"). All fees and expenses of the Accounting Firm in connection with the work it performs pursuant to this Section 6 shall be promptly paid by the Company. Any Gross-Up Payment shall be paid by the Company to the Executive within 5 days of the receipt of the Accounting Firm's determination. If the Accounting Firm determines that no Excise Tax is payable by the Executive, it shall furnish the Executive with a written opinion that failure to report the Excise Tax on the Executive's applicable federal income tax return would not result in the imposition of a penalty. Any determination by the Accounting Firm shall be binding upon the Company and the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm, it is possible that Gross-Up Payments which will not have been made by the Company should have been made ("Underpayment"). In the event that the Company exhausts its remedies pursuant to sub-paragraph (c) below, and the Executive is thereafter required to make a payment of Excise Tax, the Accounting Firm shall promptly determine the amount of the Underpayment that has occurred and any such Underpayment shall be paid by the Company to the Executive within 5 days after such determination. Amended and Restated Change in Control Agreement

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