Applicable Term Loan Base Rate Margin definition
Applicable Term Loan Base Rate Margin means a rate per annum equal to 2.50%. Notwithstanding the foregoing, (a) in the case of any Incremental Term Loan maintained as a Base Rate Loan of a given Tranche, the Applicable Term Loan Base Rate Margin shall be that percentage per annum set forth in, or calculated in accordance with, Section 2.11 and the relevant Incremental Term Loan Commitment Agreement; and (b) on and after the date of the most recent incurrence of any Tranche of Incremental Term Loans which gives rise to a determination of a new Applicable Increased Term Loan Spread, the Applicable Term Loan Base Rate Margins for any Tranche of Term Loans (other than such new Tranche of Incremental Term Loans) shall be the higher of (I) the Applicable Increased Term Loan Spread for such Tranche of Term Loans and (II) the Applicable Term Loan Base Rate Margin for such Tranche of Term Loans as otherwise determined above in the absence of this clause (b).
Applicable Term Loan Base Rate Margin means initially a rate equal to 1.25% per annum during the period from the Closing Date until the first day of the third fiscal quarter of 1998. Thereafter, such rate will fluctuate quarterly on the first day of each fiscal quarter, commencing with the third fiscal quarter of 1998, based upon the Leverage Ratio for the preceding twelve-month period, calculated as of the last day of such preceding twelve-month period, as set forth below: If the Leverage Applicable Term Loan Ratio is: Base Rate Margin --------------- -------------------- Equal to or greater than 5.0 1.250% Less than 5.0 but equal to or greater than 4.5 1.250% Less than 4.5 but equal to or greater than 4.0 1.150% Less than 4.0 but equal to or greater than 3.5 1.000% Less than 3.5 but equal to or greater than 3.0 0.750% Less than 3.0 0.625%
Applicable Term Loan Base Rate Margin means the per annum interest rate from time to time in effect and payable in addition to the Adjusted Base Rate applicable to the Term Loan, as determined by reference to Section 1.2(a).
Examples of Applicable Term Loan Base Rate Margin in a sentence
With respect to Revolving Credit Loans, the Applicable Revolver Base Rate Margin, and with respect to the Term Loan, the Applicable Term Loan Base Rate Margin.
Except as otherwise provided in ss.5.6, the outstanding principal amount of the Term Loan shall bear interest at the rate per annum equal to the (a) the Base Rate PLUS the Applicable Term Loan Base Rate Margin on Base Rate Loans or (b) Eurodollar Rate PLUS the Applicable Term Loan Eurodollar Margin on Eurodollar Loans.
More Definitions of Applicable Term Loan Base Rate Margin
Applicable Term Loan Base Rate Margin shall have the meaning set forth in Section 2.03(a)(ii) hereof.
Applicable Term Loan Base Rate Margin appearing in Section 1.1 of the Credit Agreement is hereby replaced in its entirety with the following definition: