Applicable differential means the amount of property tax differential paid to the authority that is generated from agency land.
Applicable differential means, for each Hydrocarbon Group, the differential specified for such Hydrocarbon Group on Attachment 1, as modified from time to time as per Part 7(h) (which modifications, for the avoidance of doubt, need not (and are not anticipated to) take the form of formal amendments to Attachment 1).
Applicable differential means, on any date, with respect to a Eurodollar Committed Borrowing, the applicable differential for such Borrowing set forth below based upon the rating applicable on such date to the Index Debt: Eurodollar Committed Loan Differential (in 1/100 of 1% per annum) -------------------------- Category 3 BBB by S&P; or Baa2 by Moodx'x 20.0 Category 4 BBB - or lower by S&P; or Baa3 or lower by Moodx'x 25.0 For purposes of the foregoing, (a) if neither Moodx'x xxx S&P shall have in effect a rating for the Index Debt, then both such rating agencies will be deemed to have established ratings for the Index Debt in Category 4; (b) if only one of S&P and Moodx'x xxxll have in effect a rating for the Index Debt, the Company and the Banks 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, pending the effectiveness of such amendment, the Applicable Differential will be determined by reference to the available rating; (c) if the ratings established or deemed to have been established by S&P and Moodx'x xxxll fall within different Categories, the Applicable Differential shall be determined by reference to the superior (or numerically lower) Category; and (d) if any rating established or deemed to have been established by S&P or Moodx'x xxxll be changed (other than as a result of a change in the rating system of either Moodx'x xx S&P), such change shall be effective as of the date on which such change is first announced by the rating agency making such change. Each change in the Applicable Differential shall apply to all Eurodollar Committed Loans that are outstanding at any time 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 either S&P or Moodx'x xxxll change prior to the Maturity Date, the Company and the Banks shall negotiate in good faith to amend the references to specific ratings in this definition to reflect such changed rating system.
Examples of Applicable differential in a sentence
Regular Rate of Pay associated with the employee’s primary assignment.2. Applicable differential premiums (such as shift differential, call-back pay, on-call premium.
E.: Applicable differential geometry, Cambridge Uni- versity Press, Cambridge, 1986.
More Definitions of Applicable differential
Applicable differential means, (a) in the case of natural gas prices, an amount mutually determined by the Administrative Agent and the Borrower in good faith as equating to the highest sales price reasonably realizable based on well-recognized industry publications or NYMEX contract futures and (b) in the case of other Hydrocarbons, an amount determined by the Administrative Agent in good faith based on well-recognized industry publications.
Applicable differential means, for any day, with respect to any Eurodollar Revolving Loan, or with respect to the Facility Fees payable hereunder, as the case may be, the applicable rate per annum set forth below under the caption "Eurodollar Spread" or "Facility Fee Spread", as the case may be, based upon the ratings by Moodx'x xxx S&P, respectively, applicable on such date to the Index Debt:
Applicable differential means, on any date, with respect to a CD Borrowing or a Eurodollar Committed Borrowing, the applicable differential for the Loans comprising such Borrowing set forth below based upon the rating applicable on such date to the Index Debt: ----------------------------------------------------------------------------------------------------------- Eurodollar Committed Loan CD Loan Duff Differential Differential & (in 1/100 of 1% (in 1/100 of 1% per Rating by: S&P Moodx'x Phelxx per annum) annum) ----------------------------------------------------------------------------------------------------------- Category 1 AA- or Aa3 or AA- or higher higher higher 13.00 25.50 Category 2 A+ A1 A+ 17.00 29.50 A A2 A 17.00 29.50 A- A3 A- 17.00 29.50 Category 3 BBB+ Baal BBB+ 25 37.50 Category 4 BBB Baa2 BBB 30.00 42.50 Category 5 XXX- Xxx0 XXX- 31.25 43.75 Category 6 BB+ Ba1 BB+ 50.00 62.50 ----------------------------------------------------------------------------------------------------------- If during the course of any Interest Period, any of S&P, Moodx'x xx Duff & Xhelxx xxxll announce a change of its rating of the Index Debt, and as a result of such change, the Applicable Differential would increase or decrease if calculated at that date, the Applicable Differential will change with the effect from the date of such announcement. In the event of a split rating, the rating of the majority (or in the case of three different ratings, the middle rating) will apply.
Applicable differential and "Applicable Fee Percentage" and the respective definitions thereof are hereby deleted from the Credit Agreement.
Applicable differential means, on any date, with respect to a Eurodollar Committed Borrowing, 19/100 of 1% per annum until the Termination Date, and thereafter until the Maturity Date, 25/100 of 1%.