Additional Cash Rate definition
Additional Cash Rate means the greater of (i) 3.4% and (ii) such higher rate as the Lender determines and so notifies Company in writing from time to time; provided, that the Additional Cash Rate shall not at any time exceed the then applicable “Additional Cash Rate” set forth in, and determined pursuant to, that certain Credit Agreement, dated as of February 28, 2008 (as amended and restated as of February 19, 2009, as further amended and restated as of August 5, 2011, as further amended and restated as of March 9, 2012, as further amended and restated as of November 7, 2012, as further amended on November 19, 2012, March 13, 2013 and February 21, 2014, and as further amended, restated, supplemented or otherwise modified from time to time), among Company, Pulse Electronics (Singapore) Pte Ltd, the lenders party thereto and Cantor Fitzgerald Securities, as Administrative Agent.
Additional Cash Rate means the greater of (i) 3.1% and (ii) such higher rate as the Required Lenders determine and so notify the Borrower in writing (or direct the Administrative Agent to do so) from time to time; provided, that in no event shall the Additional Cash Rate exceed an amount equal to the then-applicable Singapore withholding tax rate with respect to interest payments made by Singaporean borrowers to non-Singaporean lenders under local applicable Singapore tax law (and assuming the absence of any tax treaty). If a Special Tax Event occurs and the Required Lenders notify the borrower (or the Administrative Agent does so on their behalf) the Additional Cash Rate shall be permitted to be reduced as the Required Lenders direct.”
Additional Cash Rate has the meaning given in Section 2.1.1(c) of the Credit Agreement.
Examples of Additional Cash Rate in a sentence
Co-Borrowers shall pay interest on the unpaid principal amount of each (x) Initial Term PIK Loan at a fixed rate equal to the Initial Cash Rate plus 2.00% per annum (such rate, with respect to such Loan, the “Initial Term PIK Rate”) and (y) Additional Term PIK Loan at a fixed rate equal to the Additional Cash Rate plus 2.00% per annum (such rate, with respect to such Loan, the “Additional Term PIK Rate” and together with the Initial Term PIK Rate, the “Term PIK Rate”).
Subject to Section 2.6.3 and Section 2.1.2(c)(ii), Co-Borrowers shall pay interest on the unpaid principal amount of each (x) Initial Term Loan entirely in cash, at the Initial Cash Rate and (y) Additional Term Loan entirely in cash, at the Additional Cash Rate.
More Definitions of Additional Cash Rate
Additional Cash Rate means: 2.5 % per annum.