Interest Rate Margin Clause Samples
Interest Rate Margin. The interest rate margin (the "Interest Rate Margin") shall be that per annum rate of interest determined as set forth below: With respect to any Advance under the Revolving Loan Commitments, the applicable Interest Rate Margin shall be (x) from the Agreement Date through and including the date one (1) Business Day following the date on which the quarterly financial statements referred to in Section 7.1 with respect to the fiscal quarter ending November 30, 2004 are delivered to the Administrative Agent, 1.75% with respect to Eurodollar Advances and 0.25% with respect to Base Rate Advances, and (y) thereafter, the interest rate margin determined by the Administrative Agent based upon the Total Debt to EBITDA Ratio as of the fiscal quarter most recently ended for the immediately preceding four (4) fiscal quarter periods (with respect to which the financial statements referred to below have been delivered), effective as of the second Business Day after the financial statements referred to in Section 7.1 hereof, and an accompanying certificate of an Authorized Signatory of the Administrative Borrower certifying the calculations of the Total Debt to EBITDA Ratio as set forth in Section 7.3 hereof, are delivered by the Administrative Borrower to the Administrative Agent and each Lender as of such fiscal quarter most recently ended, expressed as a per annum rate of interest as follows:
Interest Rate Margin. From the Agreement Date through and -------------------- including July 30, 2000, the applicable Interest Rate Margin with respect to Base Rate Advances shall be 2.00% per annum, and the applicable Interest Rate Margin with respect to Eurodollar Advances shall be 3.00% per annum. Thereafter, the applicable Interest Rate Margin shall be the interest rate margin determined by the Agent based upon the Interest Coverage Ratio for the four fiscal quarter period most recently ended, effective as of the second Business Day after the financial statements and certificate referred to in Sections
6.1 and 6.3 hereof are delivered by the Borrower to the Agent and each Lender for the fiscal quarter most recently ended, expressed as a per annum rate of interest as follows: Base Rate Eurodollar Interest Coverage Advance Advance ------------------ Ratio Interest Interest ----- Rate Margin Rate Margin ----------- ----------- Less than 1.8 to 1.0 2.00% 3.00%
Interest Rate Margin. The applicable Variable Margin and Fixed Margin shall be determined for each succeeding Quarter based on the ratio of Consolidated Funded Debt to Financed Proportionate Operating Cash Flow ("CFD/FPOCF") for the most recently completed four Quarters as follows: CTD/FPOCF VARIABLE MARGIN FIXED MARGIN above 8.0X 100 250 8.0 and below, but above 6.5X 75 225 6.5 and below, but above 5.0X 50 200 5.0 and below, but above 3.5X 25 175 3.5X or below 0 150
Interest Rate Margin. The interest rate margin (the "Interest Rate Margin") shall be that per annum rate of interest determined as set forth below: With respect to any Advance under the Revolving Loan Commitment, the applicable Interest Rate Margin shall be (x) from the Agreement Date through the date six (6) months following the Agreement Date, 2.50% with respect to Eurodollar Advances and 1.00% with respect to Base Rate Advances, and (y) from the date six (6) months and one (1) day following the Agreement Date and thereafter, the interest rate margin determined by the Administrative Agent based upon the Fixed Charge Coverage Ratio as of the fiscal quarter most recently ended for the immediately preceding four (4) fiscal quarter periods (with respect to which the financial statements referred to below have been delivered), effective as of the second Business Day after the financial statements referred to in Section 7.1(b), hereof, and an accompanying certificate of an Authorized Signatory of the Administrative Borrower certifying the calculations of the Fixed Charge Coverage Ratio as set forth in Section 7.3 hereof, are delivered by the Administrative Borrower to the Administrative Agent and each Lender as of such fiscal quarter most recently ended, expressed as a per annum rate of interest as follows: BASE RATE ADVANCE (INCLUDING SWING LOANS) EURODOLLAR INTEREST ADVANCE INTEREST FIXED CHARGE COVERAGE RATIO RATE MARGIN RATE MARGIN --------------------------- ----------------------- ---------------- Greater than 2.50 to 1.00 0.25% 1.75% Greater than 2.00 to 1.00 but less 0.50% 2.00% than or equal to 2.50 to 1.00 Greater than 1.50 to 1.00 but less 0.75% 2.25% than or equal to 2.00 to 1.00 Greater than 1.25 to 1.00 but less 1.00% 2.50% than or equal to 1.50 to 1.00 Less than or equal to 1.25 to 1.00 1.25% 2.75% In the event that the Administrative Borrower fails to timely provide the quarterly financial statements and certificate referred to above in accordance with the terms of Sections 7.1(b) and 7.3, and without prejudice to any additional rights under Section 9.2, as of the second Business Day after delivery of such financial statements were due until the date two (2) Business Days following the date such financial statements and certificate are delivered, the applicable Interest Rate Margin shall be 2.75% with respect to Eurodollar Advances and 1.25% with respect to Base Rate Advances.
Interest Rate Margin. The Ninth Amendment to the Credit and Security Agreement and Waiver of Defaults dated March 29, 2005 established net income milestones that would allow the Borrower to reduce the Interest Rate Margin throughout the fiscal year. As of June 30, 2005 and September 30, 2005, the Borrower reported a loss of $283,000 and $606,000, respectively. As a result, the Borrower is not entitled to a decrease in the Interest Rate Margin, and the Interest Rate Margin effective as of July 1, 2005 is five percent (5.0%).
Interest Rate Margin. The interest rate margin (the “Interest Rate Margin”) shall be that per annum rate of interest determined as set forth below.
(i) The applicable Interest Rate Margin shall be (x) from the Second Amendment Date through June 30, 2004, 2.50% with respect to Eurodollar Advances and 1.00% with respect to Base Rate Advances, and (y) from June 30, 2004 and thereafter, the interest rate margin determined by the Agent based upon the Funded Debt/Adjusted EBITDA Ratio as of such fiscal quarter end, effective as of the second Business Day after the financial statements referred to in Section 6.2, hereof, and an accompanying certificate of an Authorized Signatory certifying the calculations of the Funded Debt/Adjusted EBITDA Ratio as set forth in Section 6.4 hereof, are delivered by the Borrower to the Agent and each Lender as of such fiscal quarter most recently ended, expressed as a per annum rate of interest as follows: Greater than or equal to 4.25 to 1.00 1.50 % 3.00 % Greater than or equal to 3.50 to 1.00 but less than 4.25 to 1.00 1.00 % 2.50 % Greater than or equal to 3.00 to 1.00 but less than 3.50 to 1.00 0.75 % 2.25 % Greater than or equal to 2.50 to 1.00 but less than 3.00 to 1.00 0.50 % 2.00 % Greater than or equal to 2.00 to 1.00 but less than 2.50 to 1.00 0.25 % 1.75 % Less than 2.00 to 1.00 0.00 % 1.50 % In the event that the Borrower fails to timely provide the financial statements and certificate referred to above in accordance with the terms of Sections 6.2 and 6.4 hereof, and without prejudice to any additional rights under Section 8.2 hereof, no downward adjustment of the applicable Interest Rate Margin in effect for the preceding quarter shall occur until the actual delivery of such financial statements and certificate.
Interest Rate Margin. The interest rate margin (the “Interest Rate Margin”) shall be that per annum rate of interest determined as set forth in subparagraphs (i) and (ii) below.