ABR Margin definition
ABR Margin as defined in subsection 2.21.
ABR Margin applicable at all times during any Calendar Quarter (or shorter period commencing on the Closing Date and ending on the last day of the Calendar Quarter in which the Closing Date occurs) is a rate per annum equal to the excess, if any, of the Eurocurrency Margin determined on the first Business Day of such Calendar Quarter (or shorter period) over 1.00% per annum (but not less than 0%).
ABR Margin has the meaning set forth on the Pricing Schedule.
Examples of ABR Margin in a sentence
Notwithstanding the foregoing and the Applicable Ratings Category on the Closing Date, prior to the delivery of the financial statements for the fiscal year of the Company ending January 2, 2015, the Applicable ABR Margin, Applicable Eurocurrency Rate Margin and Applicable Commitment Fee Percentage shall be determined by reference to Category 3.
Swingline Loans shall bear interest at a per annum rate equal to the Alternate Base Rate plus Applicable ABR Margin.
Following the delivery of a Rate Certificate in accordance with this Section 2.4(c), any change in the ABR Margin or the Eurodollar Margin, as the case may be, shall become effective with respect to all ABR Loans or Eurodollar Loans, as the case may be, and Letters of Credit outstanding hereunder on the first day of the fiscal quarter immediately following the fiscal quarter in which the Rate Certificate is delivered.
The Applicable ABR Margin shall be 1.25% per annum and the Applicable LIBOR Margin shall be 2.25% per annum.
The Applicable ABR Margin or Applicable LIBOR Margin, as applicable, for each Series [ ] New Term Loan shall mean, as of any date of determination, the applicable percentage per annum as set forth below.
More Definitions of ABR Margin
ABR Margin has the meaning assigned to such term in Section 2.21.
ABR Margin means 3.00% per annum.
ABR Margin or “Facility Fee”, as the case may be, based upon the ratings by ▇▇▇▇▇’▇ and S&P, respectively, applicable on such date to the Index Debt: Index Debt Ratings (S&P/▇▇▇▇▇’▇) Facility Fee (basis points per annum) LIBOR Margin (basis points per annum) ABR Margin (basis points per annum) Category 1 A/A2 or higher 7.0 80.5 0.0 Category 2 A-/A3 9.0 91.0 0.0 Category 3 BBB+/Baa1 10.0 102.5 2.5 Category 4 BBB/Baa2 12.5 112.5 12.5 For purposes of the foregoing, (i) if neither ▇▇▇▇▇’▇ nor S&P shall have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last two sentences of this definition), then both such rating agencies shall be deemed to have established a rating in Category 5; (ii) if only one of ▇▇▇▇▇’▇ or S&P shall have in effect a rating for the Index Debt, then the Borrower and the Lenders will negotiate in good faith to agree upon another rating agency to be substituted by an amendment to this Agreement for the rating agency which shall not have a rating in effect, and in the absence of such amendment the Applicable Rate will be determined by reference to the available rating; (iii) if the ratings established or deemed to have been established by ▇▇▇▇▇’▇ and S&P for the Index Debt shall fall within different Categories, the Applicable Rate shall be based on the higher of the two ratings unless one of the two ratings is two or more Categories lower than the other, in which case the Applicable Rate shall be determined by reference to the Category next below that of the higher of the two ratings; and (iv) if the ratings established or deemed to have been established by ▇▇▇▇▇’▇ and S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of ▇▇▇▇▇’▇ or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of ▇▇▇▇▇’▇ or S&P shall change, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Applicable Rate shall be determined by reference to the rating or ratings most recently in effect prior to such change or cessat...
ABR Margin or “Facility Fee”, as the case may be, based upon the ratings by S&P and ▇▇▇▇▇’▇, respectively, applicable on such date to the Index Debt: Category 1 BBB+/Baa1 or above 0.125 % 1.000 % 0.000 % Category 2 BBB/Baa2 0.150 % 1.100 % 0.100 % Category 3 BBB-/Baa3 0.200 % 1.300 % 0.300 % Category 4 BB+/Ba1 0.300 % 1.450 % 0.450 % Category 5 BB/Ba2 or below 0.350 % 1.650 % 0.650 % Until the earlier of (i) the date on which the Borrower obtains ratings from ▇▇▇▇▇’▇ and S&P with respect to its Index Debt, and (ii) 30 days following the Effective Date, the Borrowing shall be deemed to have a rating in Category 3; provided that, if the Borrower does not obtain such ratings within 30 days following the Effective Date, the Borrower shall be deemed to have a rating in Category 5 until such time as such ratings are obtained. For purposes of the foregoing, (a) if either ▇▇▇▇▇’▇ or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence of this definition), then such rating agency shall be deemed to have established a rating in Category 5; (b) if the ratings established or deemed to have been established by ▇▇▇▇▇’▇ and S&P for the Index Debt shall fall within different Categories, the Applicable Rate shall be based on the higher of the two ratings unless one of the two ratings is two or more Categories lower than the other, in which case the Applicable Rate shall be determined by reference to the Category next below that of the higher of the two ratings; and (c) if the ratings established or deemed to have been established by ▇▇▇▇▇’▇ and S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of ▇▇▇▇▇’▇ or S&P), such change shall be effective as of the date on which it is first publicly announced by the applicable rating agency. Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of ▇▇▇▇▇’▇ or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Applicable Rate shall be determined by refere...
ABR Margin applicable to outstanding ABR Loans shall be the Eurodollar Margin reduced by 1.00%.
ABR Margin means the applicable margin set forth in the Pricing Grid under the caption, "ABR Margin," determined based on the Utilization Percentage prevailing from time to time.
ABR Margin means for Term Loans, Revolving Loans and Swingline Loans, the rate per annum set forth under the relevant column heading opposite such Loans as set forth on Schedule A hereto.