Applicable Rate Margin definition
Applicable Rate Margin means, for any day, with respect to any Eurodollar Loan or ABR Loan, the General Margin therefor as specified in Schedule 1.01-1 hereto.
Applicable Rate Margin means, for any day, with respect to any ABR Loan 0.25%, and with respect to any Eurodollar Loan 2.50%.
Applicable Rate Margin means, for any day, with respect to any Eurodollar Loan or ABR Loan, the General Margin therefor as specified in Schedule 1.01-1 hereto. “Approved Subordinated Debt” means Indebtedness subordinated to the Obligations of the Borrowers under this Agreement and the other Loan Documents on terms approved in writing by the Administrative Agent and the Required Lenders. “Assessment Rate” means, for any day, the annual assessment rate in effect on such day that is payable by a member of the Bank Insurance Fund classified as “well-capitalized” and within supervisory subgroup “B” (or a comparable successor risk classification) within the meaning of 12 C.F.R. Part 327 (or any successor provision) to the Federal Deposit Insurance Corporation for insurance by such Corporation of time deposits made in dollars at the offices of such member in the United States; provided that if, as a result of any change in any law, rule or regulation, it is no longer possible to determine the Assessment Rate as aforesaid, then the Assessment Rate shall be such annual rate as shall be determined by the Administrative Agent to be representative of the cost of such insurance to the Lenders. “Asset Sale” shall mean any sale, transfer, lease or other disposition of any property or asset of any Credit Party or any of its Subsidiaries except a sale, transfer, lease or other disposition in the ordinary course of business (a) of cash, (b) of temporary cash investments, (c) of trade receivables, (d) of inventories, or (e) of any asset by any Credit Party or by a Subsidiary to any Credit Party or to another Subsidiary. “Assignment and Acceptance” means an assignment and acceptance entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent. “Availability Period” means the period from and including the Restatement Effective Date to but excluding the earlier of the Maturity Date and the date of termination of the Revolving Credit Commitments. “Base CD Rate” means the sum of (a) the Three-Month Secondary CD Rate multiplied by the Statutory Reserve Rate plus (b) the Assessment Rate. “Board” means the Board of Governors of the Federal Reserve System of the United States of America. 2
Examples of Applicable Rate Margin in a sentence
The new Applicable Margin as so determined by the Bank shall be effective as of the first day of the current Fiscal Quarter, and such new Applicable Margin shall remain in effect through the last day of such current Fiscal Quarter, to be adjusted as of the first day of the following Fiscal Quarter, based upon the determination of a new Applicable Rate Margin in accordance with the above provisions.
For each issuance or renewal of a Letter of Credit, Borrower will pay to Agent, for the pro rata benefit of Lenders in accordance with their respective Pro Rata Percentage, an issuance or renewal fee in an amount equal to the Applicable Rate Margin on a per annum basis (calculated at the time of issuance of the Letter of Credit) of the face amount of such Letter of Credit, payable quarterly in arrears.
The Loans comprising each CDOR Borrowing shall bear interest at a rate per annum equal to the CDOR Rate as in effect at such time plus the Applicable Rate Margin.
The Loans comprising each Australian Bank ▇▇▇▇ Swap Rate Borrowing shall bear interest at a rate per annum equal to the Australian Bank ▇▇▇▇ Swap Rate as in effect at such time plus the Applicable Rate Margin.
More Definitions of Applicable Rate Margin
Applicable Rate Margin means, for any day, with respect to any Loan, or with respect to the commitment fees payable hereunder, as the case may be, the applicable rate per annum set forth below under the caption “Eurocurrency/CDOR/Australian Applicable Rate Margin”, “Alternate Base Rate Applicable Rate Margin” or “Commitment Fee Rate”, as the case may be, based upon the Net Leverage Ratio (calculated on a Pro Forma Basis) as of the most recent determination date: NET LEVERAGE RATIO EUROCURRENCY/CDOR/ AUSTRALIANAPPLICABLE RATEMARGIN ALTERNATE BASE RATEAPPLICABLE RATEMARGIN COMMITMENTFEE Category 1≥ 2.00 to 1.0 1.625% 0.625% 0.225% Category 2< 2.00 to 1.0≥ 1.00 to 1.0 1.375% 0.375% 0.175% Category 3< 1.00 to 1.0 1.000% 0.000% 0.15% For purposes of the foregoing, (a) the Applicable Rate Margin shall be determined as of the end of each fiscal quarter of the Company, based upon the Company’s 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 Net Leverage Ratio shall be effective during the period commencing on and including 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 if ▇▇▇▇▇▇▇ fails to deliver the annual or quarterly consolidated financial statements required to be delivered by it pursuant to Section 5.01, the Net Leverage Ratio shall be deemed to be in Category 1 during the period from the expiration of the time for delivery thereof until such consolidated financial statements are delivered. If at any time the Administrative Agent determines that the financial statements upon which the Applicable Rate Margin was determined were incorrect (whether based on a restatement, fraud or otherwise), the Borrowers shall be required to retroactively pay any additional amount that the Borrowers would have been required to pay if such financial statements had been accurate at the time they were delivered.