Applicable Interest Addition means for each Eurodollar Loan that percent per annum set forth below in the applicable column, which shall be (i) determined based upon the rating of each rated class of the Borrower's long- term, senior unsecured Indebtedness for Money Borrowed, and, if no such Indebtedness is then outstanding, a class of long-term senior unsecured Indebtedness for Money Borrowed that the Borrower may issue from a shelf registration statement filed with the Securities and Exchange Commission covering, among other things, long-term senior unsecured Indebtedness for Money Borrowed (the "Rated Debt"), assigned by S&P and Moody's (or to the extent xxxxxxxed as described below, such other Alternative Rating Agency) (the "Debt Rating") as specified below and (ii) applicable to all Eurodollar Loans existing on and after the first date a specific Debt Rating is effective (the "Debt Rating Date") and continuing until, but not including, the immediate next Debt Rating Date: Applicable Interest Addition (Eurodollar Level Debt Rating spread) ----- ----------- ----------- I Less than or equal to BB by S&P and Ba2 by Moody's 1.025% II BB+ by S&P and Ba1 by Moody's .00% III BBB- by S&P and Baa3 by Moody's .00% IV BBB by S&P and Baa2 by Moody's .00% V Greater than or equal to BBB+ by S&P and Baa1 by Moody's .40% As of the date hereof, the initial Applicable Interest Addition equals 0.60%. In the event that the Debt Ratings assigned by S&P and Moody's differ by one ratixx xxxxl, the Applicable Interest Addition shall be determined by reference to the rating level having the higher Debt Rating without regard to the lower Debt Rating. In the event that the Debt Ratings assigned by S&P and Moody's differ by more thax xxx xating level, the Applicable Interest Addition shall be determined by reference to the Debt Rating which is one rating level higher than the lower assigned Debt Rating without regard to the higher assigned Debt Rating. The final Debt Rating level by which the Applicable Interest Addition is determined is referred to herein as a "Level". By way of illustration and not limitation, if S&P assigned a rating of BB+ (i.e., Level II) and Moody's assigns a rating ox Xxx0 (i.e., Level III), the Applicable Interest Addition will be .60% at Level III; however if S&P assigns a rating of BB (i.e., Level I) and Moody's assigns a rating ox Xxx0 (i.e., Level V), the Applicable Interest Addition will be .80% at Level II. In the event that either S&P or Moody's (but not both) shaxx xxx make ...
Applicable Interest Addition means for each Floating Rate Loan or LIBOR Loan that percent per annum set forth below:
Applicable Interest Addition means (i) for each Base Rate Loan which is not an Overadvance Loan, 1.00%, and (ii) for each Base Rate Loan which is also an Overadvance Loan, 2.00%; provided, however, that if, for any period set forth in clauses (i) through (v) of the definition of Overadvance Amount, the Secured Parties agree to any Overadvance Loan in an amount in excess of the amount set forth in such definition for such period, the interest rate for the amount of such excess shall be such higher rate as the parties may agree upon. The increased amount of interest on any Overadvance Loans shall accrue from the effective date of each Borrowing Base Certificate and shall be based upon the amount of Overadvance Loans outstanding on such effective date as calculated from the Borrowing Base reported in such Borrowing Base Certificate.
Examples of Applicable Interest Addition in a sentence
Based on the calculation set forth below, the Applicable Interest Addition as of the latest Determination Date is ___%.
More Definitions of Applicable Interest Addition
Applicable Interest Addition means for each Loan that percent per annum set forth below, which shall be based upon the Consolidated Funded Debt Ratio for the most recent Determination Date as specified below: Applicable Interest Addition ----------------- Consolidated Base Eurodollar Funded Debt Ratio Rate Rate ----------------- ---------- ---------- (a) Greater than .55 to 1.00 0 .650%
Applicable Interest Addition means for each Eurodollar Rate Loan, 2.75%, for each Base Rate Loan which is not an Overadvance Loan, 1.00%, and for each Base Rate Loan which is also an Overadvance Loan, 1.50%.
Applicable Interest Addition means that percent per annum set forth below in the case of each of a Floating CD Loan, Fixed CD Loan or Eurodollar Rate Loan, which percent shall be the Applicable Interest Addition effective beginning on the first day next following the date of delivery of the certificate described in Section 8.01(a)(iii) or Section 8.01(b)(iii) (the "Compliance Date") demonstrating that as of the end of such period either (i) the ratio of Consolidated Funded Indebtedness to Consolidated Total Capital is less than or equal to or more than, as the case may be, or (ii) the ratio of Consolidated EBIT to Consolidated Interest Expense is greater than or equal to or less than, as the case may be, the applicable ratio set forth opposite such Applicable Interest Addition (provided that if such determination shall result in more than one Applicable Interest Addition, the lower Applicable Interest Addition shall apply): Ratios Interest Addition ------ ----------------- EBIT to Interest Debt to Capital Floating Fixed Eurodollar CD Loan CD Loan Rate Loan ---------------- --------------- ------- ------- ---------
Applicable Interest Addition means for each Eurodollar Loan that percent per annum set forth below, which shall be (i) determined as of each Determination Date based upon the computations set forth in the compliance certificates furnished to the Agent pursuant to Sections 7.01(a)(ii) or 7.01(b)(ii) hereof as of such Determination Date and for the period then ended, subject to review and approval of such computations by the Agent, when such compliance certificates are furnished to the Agent (the "Compliance Date") and (ii) applicable to all Eurodollar Loans existing on and after the most recent Compliance Date, based upon the ratio of (x) Consolidated Funded Total Indebtedness as
Applicable Interest Addition means, for each type of Loan outstanding during any portion of any of the periods set forth below, the amount set forth for such type of Loan opposite such period: Term Loan Revolving Credit Loan --------- --------------------- Floating Floating LIBOR Rate LIBOR Rate ----- ---- ----- ---- Closing Date to 2.50% 1.00% 2.50% 1.00% and including January 31, 1996 February 1, 1996 2.75% 1.25% 2.50% 1.00% to and including April 30, 1996 May 1, 1996 and thereafter 3.00% 1.50% 2.50% 1.00%; provided, however, if on or before January 31, 1996 the Borrower shall make a prepayment of not less than $6,000,000 principal amount of the Term Loan from the proceeds of an offering of Qualified Equity Securities, then (i) the Applicable Interest Addition for all LIBOR Loans shall be 2.50% and (ii) the Applicable Interest Addition for all Floating Rate Loans shall be 1.00%;
Applicable Interest Addition means, for any day, with respect to any ABR Loan, Term Benchmark Loan or RFR Loan, as the case may be, the applicable percent per annum set forth below under the caption “Applicable Interest Addition for ABR Loans” or “Applicable Interest Addition for Term Benchmark Loans and RFR Loans”, as the case may be, opposite the Debt Ratings in effect on such day: Debt Ratings (S&P/Fitch/Moody’s) Applicable Interest Addition for ABR Loans Applicable Interest Addition for Term Benchmark Loans and RFR Loans Level 1 AA- or higher/ AA- or higher/Aa3 or higher 0% 0.750% Level 2 A+/A+/A1 0% 0.875% Level 3 A/A/A2 0% 1.000% Level 4 A-/A-/A3 0.125% 1.125% Level 5 BBB+/BBB+/Baa1 0.250% 1.250% Level 6 BBB or lower/ BBB or lower/Baa2 or lower 0.375% 1.375%
Applicable Interest Addition means for each CD or LIBOR Loan that percent per annum set forth below, which shall be (i) determined as of each Determination Date and furnished to the Agent not later than the time set forth in Section 7.01.(a) and (b) hereof (the "Compliance Date"), based upon the Consolidated Debt to Cash Flow Ratio, as specified below: Consolidated Debt to Applicable Cash Flow Ratio Interest Addition -------------------- ----------------- (a) Greater than 2.25 to 1.00 0.50% (b) Greater than 1.25 to 1.00 0.45% but Equal to or Less than 2.25 to 1.00 (c) Equal to or Less than 1.25 0.40% to 1.00