Applicable Rate for ABR Loans definition

Applicable Rate for ABR Loans or “Commitment Fee Rate”, as the case may be, based upon Holdings’ Senior Secured Net Leverage Ratio as of the most recent determination date; provided, that until the delivery to the Administrative Agent, pursuant to Section 5.01, of Holdings’ consolidated financial information for Holdings’ first fiscal quarter ending after the Effective Date, the “Applicable Rate” shall be the applicable rate per annum set forth below in Level I: 1.75% 1.25% 0.75% Applicable Rate for Eurocurrency Loans and Term Benchmark Loans 0.30% 0.25% Level IV 0.20% > 3.00 to 1.00 Applicable Rate for ABR Loans 2.00% 1.00% 0.35% Level II For purposes of the foregoing, (a) the Applicable Rate shall be determined as of the end of each fiscal quarter of Holdings based upon Holdings’ annual or quarterly consolidated financial statements delivered pursuant to Section 5.01 and (b) each change in the Applicable Rate resulting from a change in the Senior Secured Net Leverage Ratio shall be effective three Business Days after the date of delivery to the Administrative Agent of such consolidated financial statements indicating such change and ending on the date immediately preceding the effective date of the next such change; provided, that the Senior Secured Net Leverage Ratio shall be deemed to be in Level IV for the period commencing three Business Days after Holdings fails to deliver the annual or quarterly consolidated financial statements required to be delivered by it pursuant to Section 5.01, and ending on the date which is three Business Days after such statements are actually delivered. Commitment Fee Rate
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Applicable Rate for ABR Loans or “Commitment Fee” in the table below, as the case may be, based upon the Total Leverage Ratio, as more fully described below.
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Applicable Rate for ABR Loans in the definition of “Applicable Rate” shall be increased or decreased (or neither increased nor decreased), as applicable, pursuant to the Sustainability Rate Adjustment as set forth in such Pricing Certificate and (ii) the Applicable Rate described under the heading “Applicable Rate for Revolving Facility Commitment Fee” in the definition of “Applicable Rate” shall be increased or decreased (or neither increased nor decreased), as applicable, pursuant to the Sustainability Commitment Fee Adjustment as set forth in the Pricing Certificate. For purposes of the foregoing, (A) each of the Sustainability Rate Adjustment and the Sustainability Commitment Fee Adjustment shall be determined as of the fifth Business Day following receipt by the Administrative Agent of a Pricing Certificate delivered pursuant to paragraph (f) of this Section 2.23 based upon the KPI Metrics set forth in such Pricing Certificate and the calculations of the Sustainability Rate Adjustment and the Sustainability Commitment Fee Adjustment, as applicable, therein (such day, the “Sustainability Pricing Adjustment Date”) and (B) each change in the Applicable Rate resulting from a Pricing Certificate shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date (or, in the case of non-delivery of a Pricing Certificate, the last day such Pricing Certificate could have been delivered pursuant to the terms of paragraph (f) of this Section 2.23). For the avoidance of doubt, changes to the Applicable Rate pursuant to this Section 2.23 in respect of any Class of Loans and Commitments shall cease on the earlier of (x) the Maturity Date in respect of such Class of Loans and Commitments and (y) December 31, 2026 (unless otherwise agreed by the Borrower and the Lenders pursuant to an amendment effected in accordance with Section 9.02).
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Examples of Applicable Rate for ABR Loans in a sentence

  • Unless the Default Rate shall apply, (i) each ABR Loan shall bear interest on each day outstanding at the Alternate Base Rate plus the Applicable Rate for ABR Loans in effect on such day and (ii) each Eurodollar Loan shall bear interest on each day during the related Interest Period at the related Adjusted LIBO Rate plus the Applicable Rate for Eurodollar Loans in effect on such day.

  • If any amount required to be paid by any Lender to the LC Issuer pursuant to this subsection is not paid by such Lender to the LC Issuer within three Business Days after the date such payment is due, the LC Issuer shall, in addition to such amount to be paid, be entitled to recover from such Lender, on demand, interest thereon calculated from such due date at the Alternate Base Rate plus the Applicable Rate for ABR Loans.

  • Such an audit program would include the supervisor periodical contacting customers and inquiring about the level of service that was provided by the reviewer.

  • The Borrower promises to pay to the LC Issuer, or to the LC Issuer’s order, on demand, the full amount of each Matured LC Obligation together with interest thereon (i) at the Alternate Base Rate plus the Applicable Rate for ABR Loans to and including the second Business Day after the Matured LC Obligation is incurred, subject to Section 2.09(b), and (ii) at the Default Rate applicable to ABR Loans on each day thereafter.

  • All disbursements or payments related to Letters of Credit shall be deemed to be U.S. Revolving Loans and shall bear interest at the Applicable Rate for ABR Loans.

  • For the avoidance of doubt, the Applicable Rate for ABR Loans or for Eurodollar Loans, as applicable, for the 2019 Incremental Term Loans shall mean, as of any date of determination, the applicable percentage per annum with respect to any Initial Term Loan as set forth in the definition of “Applicable Rate” in the Amended Credit Agreement.

  • All disbursements or payments related to Letters of Credit shall be deemed to be Revolving Loans and shall bear interest at the Applicable Rate for ABR Loans.

  • The interest rate shall change whenever the applicable Alternate Base Rate, the Applicable Rate for ABR Loans, the Adjusted LIBO Rate, or the Applicable Rate for Eurodollar Loans changes.

  • For the avoidance of doubt, the Applicable Rate for ABR Loans or for Eurodollar Loans, as applicable, for the Incremental Term Increase shall mean, as of any date of determination, the applicable percentage per annum with respect to any Initial Dollar Term Loan as set forth in the definition of “Applicable Rate” in the Credit Agreement.

  • As of June 30, 2022, the Applicable Rate for Term SOFR Loans is 1.25% per annum and the Applicable Rate for ABR Loans is 0.25% per annum.


More Definitions of Applicable Rate for ABR Loans

Applicable Rate for ABR Loans or “Commitment Fee”, as the case may be, based upon the Pricing Level applicable on such date: Pricing Level Leverage Ratio Commitment Fee Applicable Rate for Term Benchmark /RFR Loans Applicable Rate for ABR Loans and Canadian Prime Loans Level I < 1.00 to 1.00 0.175% 1.25% 0.25% Level II > 1.00 to 1.00 but < 2.00 to 1.00 0.20% 1.50% 0.50% Level III > 2.00 to 1.00 but < 3.00 to 1.00 0.25% 1.75% 0.75% Level IV > 3.00 to 1.00 but < 4.00 to 1.00 0.35% 2.25% 1.25% Level V > 4.00 to 1.00 0.40% 2.50% 1.50% In each case, the Pricing Level shall be determined in accordance with the foregoing table based on the Borrower’s then-current Leverage Ratio. If at any time the Borrower fails to deliver the Financials on or before the date the Financials are due pursuant to Section 5.01, the highest then applicable Pricing Level shall be deemed applicable for the period commencing three (3) Business Days after such required date of delivery and ending on the date which is three (3) Business Days after the Financials are actually delivered, after which the Pricing Level shall be determined in accordance with the table above as applicable. The Applicable Rate as in effect from the Effective Date through the date a Compliance Certificate for the period ending June 30, 2022 is delivered shall be determined based upon Pricing Level 3. Adjustments, if any, to the Pricing Level then in effect shall be effective three (3) Business Days after the Administrative Agent has received the applicable Financials (it being understood and agreed that each change in Pricing Level shall apply 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). “Applicable Time” means, with respect to any Borrowings and payments in any Alternative Currency, the local time in the place of settlement for such Alternative Currency as may be determined by the Administrative Agent or the applicable Issuing Bank, as the case may be, to be necessary for timely settlement on the relevant date in accordance with normal banking procedures in the place of payment. “Approved Electronic Platform” has the meaning assigned to such term in Section 8.03(a). “Approved Fund” has the meaning assigned to such term in Section 9.04(b). “Assignment and Assumption” means an assignment and assumption agreement entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 9.04), and accep...
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Applicable Rate for ABR Loans as the case may be, based on the Consolidated Leverage Ratio applicable on such date:
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Related to Applicable Rate for ABR Loans

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, 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:

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Applicable Eurodollar Margin means, as at any date of determination, the rate per annum then applicable to Eurodollar Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Advance Rate For each Collateral Obligation and for the applicable number of Business Days between the certification date for a sale or participation required by Section 9.4 and the expected date of such sale or participation, the percentage specified below: Senior Secured Loans with a Market Value of: 90% or more of par 100 % 93 % 92 % 88 % Below 90% of par 100 % 80 % 73 % 60 % Other Collateral Obligations with a Xxxxx’x Rating of at least “B3” and a Market Value of 90% or more of par 100 % 89 % 85 % 75 % All other Collateral Obligations 100 % 75 % 65 % 45 %

  • Applicable Rate means a percentage per annum equal to:

  • Applicable Base Rate Margin means, on any day, a rate per annum equal to the higher of (a) the Applicable Eurocurrency Margin for such day minus 1.00% and (b) 0.00%.

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Base Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Eurodollar Margin means a rate per annum determined in accordance with the Pricing Schedule.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • Applicable Revolver LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Base Rate Option means the option of the Borrower to have Loans bear interest at the rate and under the terms set forth in Section 4.1.1(a)(i) [Revolving Credit Base Rate Option].

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • Revolving Credit Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Base Rate Committed Loan means a Committed Loan that is a Base Rate Loan.

  • Eurodollar Rate Reserve Percentage for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • Applicable Interest Rate Margin means (a) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (b) as to any LIBO Rate Advance, the applicable rate per annum set forth below under the caption “LIBO Rate Spread”, determined by reference to the higher of (i) the rating of Mondelēz’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Standard & Poor’s for Mondelēz) and (ii) the rating of Mondelēz’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Moody’s for Mondelēz), in each case on such date: A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.835 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 0.940 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.045 % 1.045 % BBB by Standard & Poor’s Baa2 by Moody’s 0.150 % 1.150 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.250 % 1.250 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Interest Rate Margin shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Interest Rate Margin shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders and (z) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders, the Applicable Interest Rate Margin shall be 0.250% as to any Base Rate Advance and 1.250% as to any LIBO Rate Advance.