the Margin. 5.3 If (a) Clause 5.1 applies to (i) the Advance with respect to any Interest Period or (ii) any Unpaid Sum with respect to any Default Interest Period or (b) by reason of circumstances affecting the London interbank market on three (3) consecutive occasions with respect to the Quotation Day for an Interest Period or a Default Interest Period (as applicable), LIBOR is not available for the relevant currency to prime banks in the London interbank market, then if the Facility Agent or the Borrower so requires, the Facility Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis (x) for determining the rates of interest from time to time applicable to the Advance or such Unpaid Sum and/or (y) upon which the Advance or such Unpaid Sum may be maintained (whether in Dollars or some other currency) thereafter and any such substitute basis that is agreed shall take effect in accordance with its terms and be binding on each Party for so long as the relevant circumstances subsist provided that (x) if at the end of the thirty (30) day period a substitute basis cannot be agreed, interest shall continue to be determined in accordance with Clause 5.2 or the Borrower shall have the right to require that each Lender transfers its entire participation in the Advance (and each Other Advance) to a transferee proposed by the Borrower (without prejudice to the Borrower’s prepayment right under Clause 7.4) and (y) the Facility Agent may not agree any such substitute basis without the prior consent of each Lender.
the Margin. 8.1.2 the Fixed Rate; and
the Margin. 6.2 All interest shall accrue from day to day and be calculated on the basis of a 365 day year and for the actual number of days elapsed.
the Margin. 3.2 The Borrower shall pay interest on the Advances for each Interest Period in arrear on the Interest Payment Date.
the Margin. 11.1.2 the rate notified by the Lender as soon as practicable and in any event before interest is due to be paid in respect of that Quarter, to be that which expresses as a percentage rate per annum the cost of the Lender of funding the Loan Amount from whatever source it may reasonably select; and
the Margin. The Applicable Rate shall be determined by the Administrative Agent two (2) Banking Days prior to the first (1st) day of the relevant Interest Period and the Administrative Agent shall promptly notify the Borrower in writing of the Applicable Rate as and when determined. Each such determination, absent manifest error, shall be conclusive and binding upon the Borrower.
the Margin. 4.2 The interest due will be paid on each Interest Due Date.
the Margin. 1.1.2 the rate notified to the Agent by that Lender as soon as practicable and in any event before interest is due to be paid in respect of that Interest Period, to be that which expresses as a percentage rate per annum the cost to that Lender of funding its participation in that Loan from whatever source it may reasonably select; and
the Margin. 8.2.2 EURIBOR (or, in the case of Advances in an Optional Currency, LIBOR) for that Term and
the Margin. The Margin, as determined from time to time by the Agent as provided herein, shall be equal to the lower of the margins corresponding to (a) the percentage that the Borrower's consolidated Funded Debt (excluding any Funded Debt subordinated to the indebtedness of the Borrower under the Credit Facility and in respect of which no payments of principal are scheduled to be paid on or before the Termination Date) bears to the consolidated EBITDA for the Borrower and (b) the Borrower's credit rating as determined by S & P and Moody's, as follows: -------------------------------- --------------------------------------------- -------------------------------------------- Applicable Margin Funded Debt/EBITDA Credit Rating -------------------------------- --------------------------------------------- -------------------------------------------- 45 bp less than or equal to 75% BBB+/Baa1 -------------------------------- --------------------------------------------- -------------------------------------------- 55 bp greater than 75%, but BBB/Baa2 less than or equal to 150% -------------------------------- --------------------------------------------- -------------------------------------------- 65 bp greater than 150%, but BBB-/Baa3 less than or equal to 225% -------------------------------- --------------------------------------------- -------------------------------------------- 85 bp greater than 225%, but BB+/Ba1 less than or equal to 300% -------------------------------- --------------------------------------------- -------------------------------------------- 110 bp greater than 300% BB/Ba2 -------------------------------- --------------------------------------------- -------------------------------------------- For purposes of determining the Applicable Margin, if the respective credit ratings of the Borrower by Moody's and S&P for any period correspond to two different margins, xxx Xpplicable Margin shall be the lowest of the margins corresponding to (x) the aforesaid ratio of Funded Debt to EBITDA,(y) the Borrower's credit rating as determined by S&P and (z) the Borrower's credit rating as determined by Moody's. The applicable Margin shall be determined by the Agent quxxxxxxx (based upon the latest 10Q or 10K report and Compliance Certificate delivered by the Borrower to the Agent from time to time pursuant to this Agreement). The newly determined Margin shall be effective on the last day of the month following the month during which such report and certificate...
