Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:
Applicable LIBOR Rate Margin set forth in Section 1.1 of the Credit Agreement is hereby amended to read as follows:
Applicable LIBOR Rate Margin means, as at any date of determination, the margin indicated in Section 2.11 as then applicable in the determination of LIBOR Rates.
Examples of Applicable LIBOR Rate Margin in a sentence
LIBOR Based Rate - The LIBOR Rate plus the Applicable LIBOR Rate Margin.
Changes in the Applicable LIBOR Rate Margin shall take effect as of the date on which the condition set forth in the relevant clause of the definition of each such term is satisfied.
Subject to SECTIONS 2.4.4 and 2.4.8, all LIBOR Loans shall bear interest on the unpaid principal amount thereof during the Interest Period applicable thereto at a rate per annum equal to the sum of LIBOR for such Interest Period PLUS the Applicable LIBOR Rate Margin.
Subject to Sections 2.4(f) and 2.4(j), LIBOR Advances shall bear interest on the unpaid principal amount thereof during the Interest Period applicable thereto at a rate per annum equal to the sum of the LIBOR Rate for such Interest Period plus the Applicable LIBOR Rate Margin.
Subject to Sections 2.4.4 and 2.4.8, all LIBOR Loans shall bear interest on the unpaid principal amount thereof during the Interest Period applicable thereto at a rate per annum equal to the sum of LIBOR for such Interest Period plus the Applicable LIBOR Rate Margin.
More Definitions of Applicable LIBOR Rate Margin
Applicable LIBOR Rate Margin means the per annum rate designated in the definition of “Applicable Margin” as the “Applicable LIBOR Rate Margin”.
Applicable LIBOR Rate Margin means, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: I 65.00 II 70.00 III 85.00 IV 115.00
Applicable LIBOR Rate Margin means the following:
Applicable LIBOR Rate Margin means, as of any date of determination: (i) 0.85%, if Borrower's senior long-term unsecured debt obligations are rated at least BBB+ or Baa1 by one or both of the Rating Agencies, (ii) 0.95%, if Borrower's senior long-term unsecured debt obligations are rated at least BBB or Baa2 by one or both of the Rating Agencies, (iii) 1.05%, if Borrower's senior long-term unsecured debt obligations are rated at least BBB- or Baa3 by one or both of the Rating Agencies, (iv) 1.25% if Borrower's senior long-term unsecured debt obligations are rated at least Ba1/Ba2 or BB+/BB by one or both of the Rating Agencies or (v) 1.50%, in any other case (including, without limitation, if Borrower's senior long-term unsecured debt obligations are not rated by either of the Rating Agencies).
Applicable LIBOR Rate Margin. “Applicable LOC Fee”, “Applicable Prime Rate Margin”, and “Applicable Unused Commitment Fee” means, as of any date, the applicable per annum rate shown in the applicable column in clause (vii) of Section 3.1.
Applicable LIBOR Rate Margin means with respect to each LIBOR Rate Loan, the following percentage points: (A) prior to the Closing Date, two and three quarters percentage prints (2.75%) and (B) from and after the Closing Date, (a) until the date of consummation of a Permitted Recourse Acquisition, one percentage point (1.00%) and (b) thereafter, (i) in the event that the Borrower shall have delivered Quarterly Financial Statements first due after such consummation in a timely manner in accordance with subsection 5.1(A), the percentage points set forth below each of which shall be applicable from the date of delivery of such Quarterly Financial Statements in accordance with subsection 5.1(A) (or failure thereof), and shall remain in effect until the earlier of (x) the timely delivery of Quarterly Financial Statements for the immediately succeeding fiscal quarter in accordance with subsection 5.1(A) (in which case, the Applicable LIBOR Rate Margin shall be determined based on such newly delivered Quarterly Financial Statements ) or (y) in the absence of such timely delivery, the date immediately following the date on which such Quarterly Financial Statements are due under subsection 5.1(A), in which case, the Applicable LIBOR Rate Margin shall be two percentage points (2.00%) (subject to a timely future delivery of Quarterly Financial Statements as described in (x) above) or (ii) in the event that the Borrower shall have failed to deliver Quarterly Financial Statements first due after such consummation, 2.00% which shall be applicable until timely delivery of Quarterly Financial Statements under subsection 5.1(A) and thereafter clause (i) above shall apply) ; provided, that if an adjustment in the Applicable LIBOR Rate Margin for any LIBOR Rate Loan would otherwise be made during an Interest Period, such adjustment shall be postponed (with no retroactive effect) until the first day of the immediately succeeding Interest Period therefor (assuming such LIBOR Rate Loan is renewed in whole or in part): if such Quarterly Financial Statements indicate that Interest Adjustment Ratios and Average Borrowing Availability are at: (x) Level I - the Applicable LIBOR Rate Margin is 1.00%; (y) Level II - the Applicable LIBOR Rate Margin is 1.50%; or (z) Level III - the Applicable LIBOR Rate Margin is 2.00.
Applicable LIBOR Rate Margin. “Applicable LOC Fee” and “Applicable Non-Use Fee” means, as of any date, the applicable per annum rate shown in the applicable column in the table set forth below based on the then applicable Tier associated with the then applicable Leverage Ratio: For purposes of determining the Applicable LIBOR Rate Margin, the Applicable Base Rate Margin, the Applicable LOC Fee, and the Applicable Non-Use Fee, the Leverage Ratio (and applicable Tier) will be determined as of the end of each calendar quarter occurring during the term of this Agreement (the end of each calendar quarter being a “Determination Date”) beginning with the calendar quarter ending June 30, 2015. On the Bank’s receipt of the financial statements required to be delivered to the Bank pursuant to Section 8.8, the Applicable LIBOR Rate Margin, the Applicable Base Rate Margin, the Applicable LOC Fee, and the Applicable Non-Use Fee will be subject to adjustment in accordance with the table set forth above based on the then Leverage Ratio and Tier so long as no Event of Default is existing as of applicable Determination Date or as of the effective date of adjustment. The foregoing adjustment, if applicable, to the Applicable LIBOR Rate Margin, the Applicable Base Rate Margin, the Applicable LOC Fee, and the Applicable Non-Use Fee will become effective for LIBOR Rate Loans requested, the unpaid principal balance of Base Rate Loans outstanding, non-use fees accruing, and fees due with respect to Letters of Credit issued or renewed, on and after the first day of the first calendar month following delivery to the Bank of the financial statements required to be delivered to the Bank pursuant to Section 8.8 until the next succeeding effective date of adjustment pursuant to this Agreement. Each of the financial statements required to be delivered to the Bank must be delivered to the Bank in compliance with Section 8.8. If the Borrowers, however, have not timely delivered their financial statements in accordance with Section 8.8, then, without limiting any of the rights and remedies available to the Bank by reason of such noncompliance, at the Bank’s option, commencing on the date upon which such financial statements should have been delivered in accordance with Section 8.8 and continuing until such financial statements are actually delivered in accordance with Sections 8.8, it shall be assumed for purposes of determining the Applicable LIBOR Rate Margin, the Applicable Base Rate Margin, the Applicable LOC Fee,...