Applicable Base Margin definition
Applicable Base Margin means, with respect to any Warehouse Facility, the meaning specified in the related Receivables Financing Agreement.
Applicable Base Margin the per annum interest rate margin from time to time in effect and payable in addition to the Base Rate applicable to the Base Rate Loans, as determined by reference to Schedule 2.11.
Applicable Base Margin means an annual rate equal to One and One-Half Percent (1.50%). Base Rate shall mean the BBA LIBOR Daily Floating Rate. The Base Rate shall be adjusted automatically on and as of the effective date of any change in the BBA LIBOR Daily Floating Rate.
Examples of Applicable Base Margin in a sentence
Adjusted Base Rate shall mean the Base Rate plus the Applicable Base Margin.
The Adjusted Base Rate shall be adjusted automatically on and as of the effective date of any change in the Base Rate and/or the Applicable Base Margin.
The Applicable Base Margin in effect on the date of execution of this Note shall be minus twenty five (-25) basis points.
As stated in the definition of Variable Rate, the Applicable Base Margin determined in accordance with this subparagraph shall be subtracted from the Base Rate to determine the Variable Rate.
During such periods as a Loan is a Base Rate Loan, it shall bear interest at a fluctuating rate per annum that shall at all times be equal to the Base Rate in effect from time to time plus the Applicable Base Margin in effect from time to time for such Loan.
More Definitions of Applicable Base Margin
Applicable Base Margin means an annual rate equal to One and One-Half Percent (1.50%). Bank of America Agreement shall mean the Credit Agreement by and between Borrower and Bank of America, N.A., executed on the date hereof or within thirty (30) days following the date hereof, as amended, modified or restated from time to time. Base Rate shall mean the BBA LIBOR Daily Floating Rate. The Base Rate shall be adjusted automatically on and as of the effective date of any change in the BBA LIBOR Daily Floating Rate.
Applicable Base Margin means (i) with respect to the period following the date of the First Amendment to but excluding June 30, 2005, 1.25% with respect to the Prime Rate and 2.25% with respect to the Eurodollar Rate, (ii) with respect to the period from and including June 30, 2005 to and excluding September 30, 2005, 1.50% with respect to the Prime Rate and 2.50% with respect to the Eurodollar Rate, (iii) with respect to the period from and including September 30, 2005 to but excluding the first date by which all the financial statements of SIRVA, Inc. and the Parent for the fiscal year ending December 31, 2004 and for the fiscal quarters ending March 31, 2005, June 30, 2005 and September 30, 2005 are delivered to the Agent (together with the related compliance certificates required to be delivered under the Receivables Sale Agreement), 1.75% with respect to the Prime Rate and 2.75% with respect to the Eurodollar Rate, and (iv) at any time thereafter the percentage set forth below opposite the Consolidated Leverage Ratio most recently reported by Parent and its Subsidiaries under the SIRVA Credit Agreement, as such agreement is in effect on the date hereof; provided that if and for so long as such Consolidated Leverage Ratio has not been so reported, the Applicable Base Margin shall be as set forth in clause (iii) above. Greater than or equal to 3.25 1.50 % 2.50 % Greater than or equal to 2.75 and less than 3.25 1.25 % 2.25 % Greater than or equal to 1.75 and less than 2.75 1.00 % 2.00 % Less than 1.75 0.75 % 1.75 %
Applicable Base Margin means (i) with respect to any date prior to September 30, 2000, a percentage per annum equal to 2.50%, and (ii) with respect to any date on and after September 30, 2000, a percentage per annum equal to 2.75%.
Applicable Base Margin means, as of any date of determination, a percentage per annum as shown in the applicable table set forth below (depending on whether or not the Borrower has consummated a Qualified High-Yield Offering as of such date of determination), in each case determined with reference to the Leverage Ratio then in effect; provided that, if the Borrower has failed to provide a Margin Rate Determination Certificate within the most recent period set forth in Section 5.01 or 7.01, the Leverage Ratio for purposes of determining the Applicable Base Margin shall be deemed to be 3.50:1.00 until such time as the Borrower next delivers a Margin Rate Determination Certificate establishing a Leverage Ratio of less than 3.50:1.00; and provided, further, that in no event shall the Applicable Base Margin exceed 0.25% during the period from the Effective Date through and including the earlier of (i) the High-Yield Cut-Off Date and (ii) the consummation of a Qualified High-Yield Offering.
A. PRIOR TO CONSUMMATION OF A QUALIFIED HIGH-YIELD OFFERING: ================================================================================ LEVERAGE RATIO APPLICABLE BASE MARGIN -------------------------------------------------------------------------------- x less than 2.75 0.00% -------------------------------------------------------------------------------- 2.75 less than or equal to x less than 3.00 0.25% -------------------------------------------------------------------------------- 3.00 less than or equal to x less than 3.50 0.50% -------------------------------------------------------------------------------- 3.50 less than or equal to x 0.625% ================================================================================
B. AFTER CONSUMMATION OF A QUALIFIED HIGH-YIELD OFFERING: ================================================================================ LEVERAGE RATIO APPLICABLE BASE MARGIN -------------------------------------------------------------------------------- x less than 3.50 0.00% -------------------------------------------------------------------------------- 3.50 less than or equal to x 0.25% ================================================================================
Applicable Base Margin means, as of any date of determination, a percentage per annum as shown below determined by the Leverage Ratio then in effect; provided that, if the Borrower has failed to provide a Margin Rate Determination Certificate within the most recent period set forth in Section 5.01 or 7.01, the Applicable Base Margin shall be 0.50% per annum: ========================================================== LEVERAGE RATIO APPLICABLE BASE MARGIN ---------------------------------------------------------- x < 2.75 0.00% ---------------------------------------------------------- 2.75 <= x < 3.00 0.25% ---------------------------------------------------------- 3.00 <= x 0.50% ==========================================================
Applicable Base Margin means (i) with respect to the period following the date of the First Amendment to and including December 31, 2005, 1.25% with respect to the Prime Rate and 2.25% with respect to the Eurodollar Rate, and (ii) at any time thereafter the percentage set forth below opposite the Consolidated Leverage Ratio most recently reported by Parent and its Subsidiaries under the SIRVA Credit Agreement, as such agreement is in effect on the date hereof; provided that if and for so long as such Consolidated Leverage Ratio has not been so reported, the Applicable Base Margin shall be as set forth in clause (i) above.