Applicable Term Loan Margin definition
Applicable Term Loan Margin means, (i) for any day immediately prior to the Amendment No. 4 Effective Date, with respect to any Term Loan that is an ABR Loan, 6.00% per annum, and any Term Loan that is a Eurodollar Loan, 7.00% per annum and (ii) for any day on and after the Amendment No. 4 Effective Date, with respect to any Term Loan that is an ABR Loan, 4.75% per annum, and any Term Loan that is a Eurodollar Loan, 5.75% per annum.”
Applicable Term Loan Margin means, with respect to the Term Loan Facility:
Applicable Term Loan Margin means (i) 425 basis points for Term Loans that are Base Rate Loans and (ii) 525 basis points for Term Loans that are Eurodollar Loans.
Examples of Applicable Term Loan Margin in a sentence
The outstanding principal amount of each Term Loan made by each Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Term Loan is a Base Rate Loan, the Base Rate plus the Applicable Term Loan Margin, and (ii) during such periods as such Term Loan is a Eurodollar Loan, the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for the applicable Interest Period plus the Applicable Term Loan Margin.
Each Term Loan or portion thereof maintained as a Base Rate Loan shall bear interest at a rate per annum equal to the Base Rate plus the Applicable Term Loan Margin.
With respect to any portion of the Term Loan that shall be a Eurodollar Loan, Borrower shall pay interest on the unpaid principal amount of each Eurodollar Loan outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto (but subject to changes in the Applicable Term Loan Margin), the Derived Term Loan Eurodollar Rate.
Each Term Loan or portion thereof maintained as a LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the LIBOR Adjusted Rate plus the Applicable Term Loan Margin.
In the event of any change in The Chase Manhattan Bank Rate, the rate as of the first of the month following any change, shall be equal to the Applicable Term Loan Margin plus The Chase Manhattan Bank Rate then in effect.
More Definitions of Applicable Term Loan Margin
Applicable Term Loan Margin means for any date, with respect to Term Loans, the applicable margin set forth under the column entitled "Applicable Term Loan Margin" in the definition of "Rating Based Margin", unless either (i) a rating for the Long Term Debt of Lincoln Telephone shall cease to be published by Standard & Poor's, or (ii) the Borrower shall for any Fiscal Year derive less than 70% of Total Operating Revenues from Lincoln Telephone, in either of which cases for any date after the date of cessation of publication of such rating or the last day of the Fiscal Year for which such minimum percentage of Total Operating Revenues was not derived from Lincoln Telephone, the Applicable Term Loan Margin with respect to the Term Loans shall mean the Alternative Margin and the Alternative Margin shall thereafter continue in effect unless and until either (a) if the Alternative Margin was in effect on account of the cessation of publication by Standard & Poor's of the rating referred to in clause (i) above, Standard & Poor's once again commences publication of such rating, or (b) if the Alternative Margin was in effect on account of the Borrower deriving less than 70% of Total Operating Revenues from Lincoln Telephone referred to in clause (ii) above, the Borrower in any subsequent Fiscal year derives at least 70% of Total Operating Revenues from Lincoln Telephone, in which case, on the date of commencement of such rating or on the first day of the immediately succeeding Fiscal Year following the Fiscal Year in which the Borrower derived such minimum percentage of Total Operating Revenues from Lincoln Telephone, as the case may be, the Alternative Margin shall cease to apply and the applicable margin set forth under the column entitled "Applicable Term Loan Margin" in the definition of "Rating Based Margin" will once again be applicable. The Alternative Margin may be made effective and rescinded from time to time in accordance with the provisions of this definition.
Applicable Term Loan Margin means (a) with respect to Closing Date Term Loans, (i) 175 basis points for Closing Date U.S. Term Loans that are Base Rate Loans, (ii) 275 basis points for Closing Date U.S. Term Loans that are Eurocurrency Loans and (iii) 325 basis points for Closing Date EMEA Term Loans, (b) with respect to 2020 EMEA Term Loans, (x) on and after the Amendment No. 2 Effective Date and prior to the two-year anniversary of the Amendment No. 2 Effective Date, (i) 325 basis points for 2020 EMEA Term Loans that are Base Rate Loans and (ii) 425 basis points for 2020 EMEA Term Loans that are Eurocurrency Loans, and (y) on and after the two-year anniversary of the Amendment No. 2 Effective Date, (i) 375 basis points for 2020 EMEA Term Loans that are Base Rate Loans and (ii) 475 basis points for 2020 EMEA Term Loans that are Eurocurrency Loans, and (c) with respect to any other Class of Term Loans, the rate or rates specified in the applicable Additional Credit Extension Amendment.
Applicable Term Loan Margin means, with respect to Initial Term Loans, (i) 6.50% per annum for Initial Term Loans that are Base Rate Loans and (ii) 7.50% per annum for Initial Term Loans that are Eurodollar Loans.
Applicable Term Loan Margin means with respect to Term Loans that are Prime Rate Loans or LIBOR Loans hereunder, the percentage set forth below under the headings "Prime Rate Margin" and "LIBOR Margin", respectively, opposite the applicable ratio: Greater than 3.25:1.00 0.25 % 2.00 % Less than or equal to 3.25:1.00 0 % 1.75 % The Applicable Term Loan Margins will be initially set with respect to each Term Loan on the date which is five (5) Business Days following the date of receipt by the Bank of the pro forma financial statements referred to in Section 5.03(f) on the basis of such financial statements and thereafter shall be reset on the date which is five (5) Business Days following the date of receipt by the Bank of the financial statements referred to in 6.03(a) and Section 6.03(b), together with a certificate of the Chief Financial Officer of the Co-Borrowers certifying the ratio of Consolidated Senior Debt to Consolidated EBITDA and setting forth the calculation thereof in detail; provided, however, that if any such financial statement and certificate are not received by the Bank within the time period required pursuant to Section 6.03(a) or Section 6.03(b), as the case may be, the Applicable Term Loan Margin will be established at the highest rates provided above from the date such financial statement and certificate were due until the date which is five (5) Business Days following the receipt by the Bank of such financial statements and certificate; and provided, further, that the Bank shall not in any way be deemed to have waived any Event of Default, or any rights or remedies hereunder or under any other Loan Document in connection with the foregoing proviso. During the occurrence and continuance of a Default or an Event of Default, no downward adjustment, and only upward adjustments, shall be made to the Applicable Term Loan Margin.
Applicable Term Loan Margin means, for any day, with respect to any Term Loan that is an ABR Loan, 4.00% per annum and any Term Loan that is a Eurodollar Loan, 5.00% per annum.
Applicable Term Loan Margin with respect to Term Loans, for each LIBOR Loan and for each Base Rate Loan as set forth below: Term Loan Leverage Level LIBOR Base Rate -------------- ----- --------- 1(greater than or equal to 5.50:1) +2.625% +1.625% 2(less than 5.50:1) +2.250% +1.250%
Applicable Term Loan Margin means twelve percent (12.00%).