the Margin. 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 the Fixed Rate; and
the Margin. 94 SCHEDULE 5..................................................................95 MANDATORY COST FORMULAE............................................95 SCHEDULE 6..................................................................98
the Margin. So long as the overdue amount remains unpaid, the default interest rate shall be recalculated in accordance with the provisions of this Clause 6,3 on the last day of each such Interest Period and any unpaid interest shall be compounded at the end of each Interest Period.
the Margin. 9.3.1. The margin on the Facility is the following at the time of the conclusion of the Agreement: The Margin 1.75 %, p.a.
9.3.2. In the event of a one-year breach of the Agreement’s provision regarding the Borrower’s leverage, cf. section 13.1.1, the Marginal will be regulated as follows: EBITDA leverage of 3.0-<3.5x The margin is increased to 1.80% pa EBITDA leverage of 3.5-<4.0x The margin is increased to 1.85% pa When EBITDA leverages again comply with the set key figures, cf. section 13.1.1, the Margin will be reduced to 1.75 pa
9.3.3. Converts Pharmacosmos Facilities ApS, CVR no. 42388084 existing mortgage financing of the property Xxxxxxxxxxx 00, Xxxxxx, to a mortgage credit institution other than Nykredit Realkredit A/S, the Margin is adjusted so that in the remaining part of the credit period it is set at 2% p.a.
the Margin. The Margin will vary based upon 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 as follows: Funded Debt/EBITDA Applicable Margin less than or equal to 75% 70 bp greater than 75% but 85 bp less than or equal to 150% greater than 150% but 110 bp less than or equal to 225% greater than 225% but 130 bp less than or equal to 300% greater than 300% 160 bp The applicable Margin shall be determined by the Agent quarterly (based upon the latest 10Q 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 were delivered to the Agent.
the Margin 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. 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...
the Margin. EURIBOR (or, in the case of Advances in an Optional Currency, LIBOR) for that Term and
the Margin. The interest due will be paid on each Interest Due Date.
