Applicable Revolving Margin definition

Applicable Revolving Margin means, on any date, the percentage set forth in the table below based on the ratings assigned to the Facilities on such date by Xxxxx’x Investors Service, Inc. and Standard & Poor’s Ratings Services: Ba1 (or higher)/BB+ (or higher) 1.50 % Ba2/BB 1.75 % Ba3/BB- 2.00 % B1 (or lower)/B+ (or lower) 2.50 % If the Facilities are rated by only one such rating agency, the rating of such rating agency shall be used in determining the Applicable Revolving Margin. If the Facilities are rated by both such rating agencies and (x) the ratings differential is one level, the lower rating will apply or (y) the ratings differential is two levels or more, the midpoint rating will apply; provided that if there is no midpoint rating, the lower of the two intermediate ratings surrounding the midpoint will apply. If the Facilities are not rated by either of such rating agencies, the Facilities shall be deemed to be rated one level higher than (i) in the case of Xxxxx’x Investors Service Inc., the Borrower’s corporate family rating and (ii) in the case of Standard & Poor’s Rating Services, the Borrower’s corporate credit rating and, in each case, the rules of the preceding two sentences shall apply to such deemed ratings. If the Facilities are not rated (or deemed rated in accordance with the preceding sentence) by either or such rating agencies, the Applicable Revolving Margin shall be 2.50%.

Applicable Revolving Margin means, on any date, (x) with respect to any Tranche A Revolving Credit Loan Commitments or Tranche A Revolving Credit Loans, the percentage set forth below under the heading “Tranche A Margin” and (y) with respect to any Tranche B Revolving Credit Loan Commitments or Tranche B Revolving Credit Loans, the percentage set forth in the table below under the heading “Tranche B Margin,” in each case, based on the ratings assigned to the Facilities on such date by Xxxxx’x Investors Service, Inc. and Standard & Poor’s Ratings Services: Ba1 (or higher)/BB+ (or higher) 1.50 % 3.50 % Ba2/BB 1.75 % 3.75 % Ba3/BB- 2.00 % 4.00 % B1 (or lower)/B+ (or lower) 2.50 % 4.50 % If the Facilities are rated by only one such rating agency, the rating of such rating agency shall be used in determining the Applicable Revolving Margin. If the Facilities are rated by both such rating agencies and (x) the ratings differential is one level, the lower rating will apply or (y) the ratings differential is two levels or more, the midpoint rating will apply; provided that if there is no midpoint rating, the lower of the two intermediate ratings surrounding the midpoint will apply. If the Facilities are not rated by either of such rating agencies, the Facilities shall be deemed to be rated one level higher than (i) in the case of Xxxxx’x Investors Service Inc., the Borrower’s corporate family rating and (ii) in the case of Standard & Poor’s Rating Services, the Borrower’s corporate credit rating and, in each case, the rules of the preceding two sentences shall apply to such deemed ratings. If the Facilities are not rated (or deemed rated in accordance with the preceding sentence) by either or such rating agencies, the Applicable Revolving Margin shall be (x) with respect to any Tranche A Revolving Credit Loan Commitments or Tranche A Revolving Credit Loans, 2.50% and (y) with respect to any Tranche B Revolving Credit Loan Commitments or Tranche B Revolving Credit Loans, 4.50%.”;

Applicable Revolving Margin. With respect to:

Examples of Applicable Revolving Margin in a sentence

• If there is any change in the relevant Applicable Revolving Margin during any quarter, the daily maximum amount of each Revolving Letter of Credit shall be computed and multiplied by the relevant Applicable Revolving Margin separately for each period during such quarter that such relevant Applicable Revolving Margin was in effect.

• Notwithstanding the foregoing, the Applicable Revolving Margin for the period from the Closing Date to and including the date on which the Agent receives the financial statements required by Section 5.1(a) with respect to the Borrower’s fiscal quarter ending December 31, 2004, shall be Revolving Leverage Level 1.

• Interest shall accrue and be payable on the unpaid balance of the Advances at a floating rate per annum equal to the sum of the Prime Rate plus 2.0% (the latter being the “Applicable Revolving Margin”); provided, however, that upon the happening of any Event of Default, then, at the option of the Lender, the Advances shall thereafter bear interest at a floating rate equal to the sum of (a) the Prime Rate, plus (b) the Applicable Revolving Margin, plus (c) 2.0%.

• Interest shall accrue and be payable on the unpaid balance of the Advances at a floating rate per annum equal to the sum of the Reference Rate plus 2% (the latter being the “Applicable Revolving Margin”); provided, however, that upon the happening of any Event of Default, then, at the option of the Lender, the Advances shall thereafter bear interest at a floating rate equal to the sum of (a) the Reference Rate, plus (b) the Applicable Revolving Margin, plus (c) 4%.

• Such fee shall be allocated between the Tranche A Revolving Credit Loan Banks and the Tranche B Revolving Credit Loan Banks based on such Banks earning a commission equal to the Applicable Revolving Margin for Tranche A Revolving Credit Loans and the Applicable Re-volving Margin for Tranche B Revolving Credit Loans, respectively, and then ratably in proportion to their Total Exposures.

More Definitions of Applicable Revolving Margin

Applicable Revolving Margin means, with respect to any Revolving Loan, three-quarters of one percent (0.75%) per annum.

Applicable Revolving Margin means a percentage per annum determined by reference to the ratio of total Debt for Borrowed Money to Operating Cash Flow, as set forth below: Base Rate Eurodollar CD Rate Ratio Advances Advances Advances ----- --------- ---------- -------- greater than 5.0:1.0 0.75% 1.875% 2.000% greater than 4.5:1.0 but less than or equal to 5.0:1.0 0.50% 1.625% 1.750% 8 -4- greater than 4.0:1.0 but less than or equal to 4.5:1.0 0.25% 1.375% 1.500% greater than or equal to 3.0:1.0, but less than or equal to 4.0:1.0 0.00% 1.125% 1.250% less than 3.0:1.0 0.00% 0.875% 1.000% Any change in the Applicable Revolving Margin required pursuant to the foregoing shall become effective on the fifth day after receipt by the Agent of the Borrower's most recent financial statement and Compliance Certificate of the Borrower delivered pursuant to Section 3.01(l)(xvi), 5.03(b) or 5.03(c); provided however, that in the event that the Borrower fails to provide any financial statement on a timely basis in accordance with Section 5.03(b) or 5.03(c), any interest rate increase payable as a result thereof shall be retroactively effective to the date on which the financial statement in question should have been received by the Agent in accordance with Section 5.03, and the Borrower shall pay any amount due as a result thereof upon written demand from the Agent.

Applicable Revolving Margin means, in relation to the Revolving Outstandings and subject to Clause 5.3 (MARGIN RATCHET), 2.25 % per annum.

Applicable Revolving Margin means, for any day, on and after the Eleventh Amendment Effective Date, with respect to any ABR 2022 Extended Revolving Credit Loan or Term SOFR 2022 Extended Revolving Credit Loan, or with respect to the 2022 Extended Revolving Credit Commitment Fee, as the case may be, the applicable rate per annum set forth below under the caption “ABR Spread”, “Adjusted SOFR Spread” or “2022 Extended Revolving Credit Commitment Fee Rate”, as the case may be, based upon the ratings by Xxxxx’x and/or S&P, respectively, applicable on such date to the Borrower’s senior secured long-term debt securities (in each case, as such rate per annum may be increased or decreased by any relevant Sustainability Adjustments as of the applicable date of determination):

Applicable Revolving Margin means with respect to the Revolving Loan, the margin of Two Hundred Seventy-Five (275) Basis Points (2.75%).

Applicable Revolving Margin means, in relation to the Revolving Outstandings, 2.00% per annum.

Applicable Revolving Margin means 2.00%, provided if the Borrower consummates an Equity Financing after the date hereof from which Borrower receives at least $4,000,000 (but less than $8,000,000) then Applicable Revolving Margin shall mean 1.75%, provided, further, if the Borrower consummates an Equity Financing after the date hereof from which Borrower receives at least $8,000,000 then Applicable Revolving Margin shall mean 1.50%. The foregoing reduction in such margin amount shall be effective on and after such time that reasonable evidence of Borrower’s satisfaction with the applicable conditions has been supplied to and accepted by Bank and shall only apply on a prospective basis thereafter.