Applicable Revolving Credit Rate means a percentage per annum equal to, (a) until delivery of financial statements for the first full fiscal quarter commencing on or after the Closing Date pursuant to Section 6.01, (A) for Eurodollar Loans, 3.50% , (B) for Base Rate Loans, 2.50% and (C) for Letter of Credit fees, 3.50% and (b) thereafter, the following percentages per annum, based upon the Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b): Applicable Revolving Credit Rate Pricing Level Total Leverage Ratio Eurodollar and Letter of Credit Fees Base Rate 1 <3.50:1.0 2.50 % 1.50 % 2 > 3.50:1.0 but <4.50:1.0 3.00 % 2.00 % 3 > 4.50:1.0 3.50 % 2.50 % Any increase or decrease in the Applicable Revolving Credit Rate resulting from a change in the Total Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b); provided that at the option of the Administrative Agent or the Majority Revolving Lenders, the highest Pricing Level shall apply as of the first Business Day after the date on which a Compliance Certificate was required to have been delivered but was not delivered, and shall continue to so apply to and including the date on which such Compliance Certificate is so delivered (and thereafter the Pricing Level otherwise determined in accordance with this definition shall apply). In the event that any financial statement or certification delivered pursuant to Section 6.01 or 6.02(b) is shown to be inaccurate (an “Inaccuracy Determination”), and such inaccuracy, if corrected, would have led to the application of a higher Applicable Revolving Credit Rate for any period (an “Applicable Period”) than the Applicable Revolving Credit Rate applied for such Applicable Period, then the Borrower shall immediately (i) deliver to the Administrative Agent a corrected Compliance Certificate for such Applicable Period, (ii) determine the Applicable Revolving Credit Rate for such Applicable Period based upon the corrected Compliance Certificate and (iii) immediately pay to the Administrative Agent the accrued additional interest owing as a result of such increased Applicable Revolving Credit Rate for such Applicable Period (the “Excess Amount”), which payment shall be promptly applied by the Administrative Agent in accordance with Section 2.13. It is acknowledged and agreed that nothing contained herein shall limit th...
Applicable Revolving Credit Rate means, on any day, with respect to any Eurodollar Loan, Base Rate Loan or commitment fees hereunder, respectively, the percent per annum set forth below under the caption “Eurodollar Margin,” “Base Rate Margin” or “Commitment Fee Rate”, respectively, based on the Applicable Leverage Level in effect on such day. Each change in the Applicable Revolving Credit Rate 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. Changes in the Applicable Revolving Credit Rate will occur automatically as changes in the Applicable Leverage Level occur as provided in the definition of Applicable Leverage Level.
Applicable Revolving Credit Rate means at any time (a) with respect to -------------------------------- Eurodollar Loans, a rate per annum equal to the Eurodollar Rate, (b) with respect to Base Rate Loans, a rate per annum equal to the Alternate Base Rate and (c) with respect to Alternate Currency Loans, a rate per annum equal to the Alternate Currency Rate.
Examples of Applicable Revolving Credit Rate in a sentence
The interest rate shall change whenever the applicable Base Rate, the Applicable Revolving Credit Rate for Base Rate Loans, the Eurodollar Rate, the LIBOR Reference Rate or the Applicable Revolving Credit Rate for Eurodollar Loans changes.
Borrower shall pay interest on the aggregate unpaid principal balance of the Revolving Credit Loans outstanding from time to time at the Applicable Revolving Credit Rate.
The unpaid principal balance of the Revolving Credit Loans outstanding from time to time shall bear interest at a rate per annum equal to the Applicable Revolving Credit Rate.
Each change in the rate of interest charged hereunder shall become effective, without notice to Borrower, upon the effective date of each change in the Applicable Revolving Credit Rate or the Maximum Rate, as the case may be.
More Definitions of Applicable Revolving Credit Rate
Applicable Revolving Credit Rate ten percent (10%) per annum.
Applicable Revolving Credit Rate means, on any day, with respect to any Eurodollar Loan, Base Rate Loan or commitment fees hereunder, respectively, the percent per annum set forth below under the caption “Eurodollar Margin,” “Base Rate Margin” or “Commitment Fee Rate”, respectively, based on the Applicable Leverage Level in effect on such day. Applicable Leverage Eurodollar Base Rate Commitment Fee Level Margin Margin Rate Level I 1.250 % 0.000 % 0.300 % Level II 1.500 % 0.000 % 0.375 % Level III 1.750 % 0.250 % 0.375 % Level IV 2.00 % 0.500 % 0.500 % Each change in the Applicable Revolving Credit Rate 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. Changes in the Applicable Revolving Credit Rate will occur automatically as changes in the Applicable Leverage Level occur as provided in the definition of Applicable Leverage Level.
Applicable Revolving Credit Rate means, on any day, with respect to any Eurodollar Loan, Base Rate Loan or commitment fees hereunder, respectively, the percent per annum set forth below under the caption “Eurodollar Margin,” “Base Rate Margin” or “Commitment Fee Rate”, respectively, based on the Applicable Leverage Level in effect on such day. Applicable Leverage Level Eurodollar Margin Base Rate Margin Commitment Fee Rate Level I 1.250% 0.000% 0.300% Level II 1.500% 0.000% 0.375% Level III 1.750% 0.250% 0.375% Level IV 2.00% 0.500% 0.500% Each change in the Applicable Revolving Credit Rate 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. Changes in the Applicable Revolving Credit Rate will occur automatically as changes in the Applicable Leverage Level occur as provided in the definition of Applicable Leverage Level.