Applicable Prime Margin definition

Applicable Prime Margin means that as set forth in Section 2.02(a)(ii) hereof.

Applicable Prime Margin on any date means -1.0% (minus one percent) per annum.

Applicable Prime Margin means the Initial Prime Margin or, as the case may be, the Adjusted Prime Margin.

Examples of Applicable Prime Margin in a sentence

• The Adjusted Prime Rate shall be adjusted automatically on and as of the effective date of any change in the Prime Rate and/or the Applicable Prime Margin.

• Adjusted Prime Rate shall mean the Prime Rate plus the Applicable Prime Margin.

• Pricing Tier FUNDED DEBT TO EBITDA Ratio Applicable LIBOR Margin Applicable Prime Margin Applicable Unused Fee I ­> =2.0x 1.35% 0.10% 10 bps II ­>=1.50x 1.20% 0.00% 10 bps III ­<1.50x 1.00% 0.00% 10 bps The initial Applicable LIBOR Margin and Applicable Prime Margin will be 1.00% and 0.00 % respectively for the period of December __, 2014 until the Bank’s receipt of the 12/31/14 Compliance Certificate from the Borrower.

• The Applicable LIBOR Margin and the Applicable Prime Margin shall increase by an amount equal to the Utilization Premium (the “Utilization Premium”) set forth above during any period (and for only such period) in which Usage is more than Thirty Three and 33/100 Percent (33.33%).

• The interest rate shall be either the Applicable Libor Margin or Applicable Prime Margin (as defined in Exhibit A) as selected and achieved by the Borrower in the column under the header “Pricing Tier” appearing on Exhibit A.

More Definitions of Applicable Prime Margin

Applicable Prime Margin shall have the meaning ascribed thereto in Section 3.1 hereof.

Applicable Prime Margin means one half of one percent (1/2%)."

Applicable Prime Margin means zero percent (0%).

Applicable Prime Margin means the applicable percentage set forth in the table below based upon Borrower's ratio of Senior Funded Debt to EBITDA: Senior Funded Debt to EBITDA Prime > or = 2.00 - 2.50x 75 bps > or = 1.50x - < 2.00x 50 bps > or = 1.00x - < 1.50x 25 bps < 1.00 25 bps

Applicable Prime Margin in each case payable in cash monthly. • The DIP Lenders shall receive an undrawn facility fee equal to 0.50% of the undrawn portion of the DIP Loans, accruing daily and payable monthly in cash in arrears. • The Borrowers shall pay a fee on all outstanding DIP L/Cs at a rate per annum equal to the Applicable LIBOR Margin. • A fronting fee in an amount to be agreed on the then available face amount of each Additional L/C shall be payable monthly in arrears to the relevant Issuing Bank for its own account. • Default interest rate of an additional 2.0% per annum upon the occurrence and during the continuance of an Event of Default (as defined below), payable in cash on demand. Fees As provided in the Fee Letter among Parent Borrower, DIP Agent and the DIP Lenders. Collateral All amounts owing by the Borrowers under the DIP Credit Facility and by the Guarantors in respect thereof will be secured, subject to the Carve-Out (as defined below), by a first priority priming lien granted under section 364(d) of the Bankruptcy Code (the “DIP Liens”) on all assets of the Loan Parties (other than certain assets to be excluded, which shall be agreed by the Parent Borrower and the DIP Secured Parites) as of the DIP Effective Date (the “DIP Collateral”). Xxxxxx Drilling—DIP Term Sheet Such liens and security interests granted under the DIP Credit Facility shall be subject only to the Carve-Out.

Applicable Prime Margin means a percentage based on the prevailing Fixed Charge Coverage Ratio as set forth in the table below. Any change in the Applicable Prime Margin shall become effective five (5) Business Days after Bank’s receipt of a Compliance Certificate and related quarterly financial statements containing a quarterly Fixed Charge Coverage Ratio computation. If at any time such a Compliance Certificate and related quarterly financial statements are not delivered within the time period specified herein, the Applicable Prime Margin shall be 2.25% until five (5) Business Days after actual receipt by Bank of such Compliance Certificate and related quarterly financial statements. Less than 1.25:1 2.25% Greater than or equal to 1.25:1, but less than or equal to 1.50:1 2.00% Greater than 1.50:1 1.75%

Applicable Prime Margin as applicable, shall mean, as of any date of determination thereof, the applicable interest rate margin, determined by reference to the appropriate columns in the pricing matrix attached to this Agreement as Schedule 1.1. Adjustments to the Applicable LIBO/LIBOR Margin and the Applicable Prime Margin, based on Schedule 1.1, shall be implemented on a quarterly basis as follows: