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 assigned to such term in Section 2.21.
Examples of ABR Margin in a sentence
The Applicable ABR Margin and the Applicable LIBOR Margin shall have the same meaning as set forth in the Credit Agreement after giving effect to the Amendment No. 2.
The ABR Margin with respect to the Tranche B-1 Loans shall mean a percentage per annum equal to 2.50%.
The ABR Margin, LIBOR Margin and the facility fee are based upon our current senior unsecured debt rating.
The ABR Margin with respect to the Tranche B-4 Loans shall mean a percentage per annum equal to 1.25%.
For the avoidance of doubt, the requirements of this clause (b) shall not apply with respect to any amendment, amendment and restatement or other modification of this Agreement that requires or permits a transaction that results in a change in the Borrower’s corporate credit rating from Moody’s resulting in a decrease in the Applicable ABR Margin or the Applicable LIBOR Margin, but does not otherwise amend the Applicable ABR Margin or the Applicable LIBOR Margin with respect to the Tranche B-12 Term Loans.
More Definitions of ABR Margin
ABR Margin has the meaning set forth on the Pricing Schedule.
ABR Margin or “Facility Fee”, as the case may be, based upon the ratings by S&P and Xxxxx’x, 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 Xxxxx’x 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 Xxxxx’x 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 Xxxxx’x 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 Xxxxx’x and S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of Xxxxx’x 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 Xxxxx’x 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 means 3.00% per annum.
ABR Margin or “Facility Fee”, as the case may be, based upon the ratings by S&P, Xxxxx’x and Fitch, respectively, applicable on such date to the Index Debt: Category 1 A-/A3/A- or above 0.080% 0.920% 0.000% Category 2 BBB+/Baa1/BBB+ 0.100% 1.025% 0.025% Category 3 BBB/Baa2/BBB 0.125% 1.125% 0.125% Category 4 BBB‑/Baa3/BBB- 0.175% 1.200% 0.200% Category 5 BB+/Ba1/BB+ or below 0.200% 1.425% 0.425% NYDOCS02/1175986.51175986.8 3 and (y) with respect to any LIBOR 2019 Incremental Term Loan or ABR 2019 Incremental Term Loan, the applicable rate per annum set forth below under the caption “LIBOR Margin” or “ABR Margin”, as the case may be, based upon the ratings by S&P, Xxxxx’x and Fitch, respectively, applicable on such date to the Index Debt: Category 1 A-/A3/A- or above 0.625% 0.000% Category 2 BBB+/Baa1/BBB+ 0.750% 0.000% Category 3 BBB/Baa2/BBB 0.875% 0.000% Category 4 BBB‑/Baa3/BBB- 1.000% 0.000% Category 5 BB+/Ba1/BB+ or below 1.250% 0.250% For purposes of the foregoing, (a) if any of S&P, Xxxxx’x or Fitch shall not have in effect a rating for the Index Debt, then (i) if only one rating agency shall not have in effect a rating for the Index Debt, the Category then in effect shall be determined by reference to the remaining two effective ratings for the Index Debt, (ii) if two rating agencies shall not have in effect a rating for the Index Debt, one of such rating agencies shall be deemed to have in effect a rating in Category 5 and the Category then in effect shall be determined by reference to such deemed rating and the remaining rating in effect and (iii) if no rating agency shall have in effect a rating for the Index Debt, then Category 5 shall apply; (b) if the ratings in effect or deemed to be in effect by S&P, Xxxxx’x and Fitch for the Index Debt shall fall within different Categories, then (i) if three ratings for the Index Debt are in effect, then either (x) if two of the three ratings are in the same Category, such Category shall apply or (y) if all three of the ratings are in different Categories, then the Category corresponding to the middle rating for the Index Debt shall apply and (ii) if only two ratings for the Index Debt are in effect or deemed to be in effect, the Category then in effect 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 Category then in effect shall be determined by reference to the Category next below that of the higher of the two ratings; ...
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.