Applicable Term Rate definition
Applicable Term Rate means the following percentages per annum based on whether that portion of the Term Loan is a Eurodollar Rate Loan or a Base Rate Loan: (a) for a Eurodollar Rate Loan, 2.00%, and (b) for a Base Rate Loan, 0.25%; provided however, that the Applicable Term Rate with respect to New Term Loans shall be as agreed by the Lenders providing such New Term Loans and the Borrowers at the time such Lenders agree to increase or provide their Term Loan Commitment in respect of such New Term Loans.
Applicable Term Rate is specified hereon as the method of Screen Rate Determination and the relevant Reference Rate is not ▇▇▇▇▇, SOFR, €STR or SARON Compounded:
Applicable Term Rate means, for any day, with respect to any ABR Term Loan or Eurodollar Term Loan, as the case may be, the applicable rate per annum set forth below under the caption “ABR Spread” or “Eurodollar Spread”, as the case may be. Applicable Term Rate 250 bps 0 bps
Examples of Applicable Term Rate in a sentence
The Loans comprising each Eurocurrency Term Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Term Rate.
SUNSHINE STATE INSURANCE COMPANY By: /s/ J▇▇▇ ▇▇▇▇▇ Name: J▇▇▇ ▇▇▇▇▇ Title: President and Chief Executive Officer UNITED PROPERTY & CASUALTY INSURANCE COMPANY By: /s/ D▇▇▇▇▇ ▇.
Each Alternative Currency Term Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable Borrowing Date at a rate per annum equal to the applicable Alternative Currency Term Rate plus the Applicable Term Rate Margin.
Such notice shall indicate the Applicable Term Rate with respect to such New Term Loans.
Each change in the rate of interest charged on the Term Loan shall become effective, without notice to Borrower, upon the CREDIT AGREEMENT PAGE 22 ---------------- effective date of each change in the Applicable Term Rate or the Maximum Rate, as the case may be.
More Definitions of Applicable Term Rate
Applicable Term Rate is deleted in its entirety and replaced with the following:
Applicable Term Rate means, for any day, (a) with respect to any ABR Loan or Eurocurrency Loan of a Class of Term Loans established pursuant to Section 2.22 or 2.23, the rate per annum specified therefor in the applicable Extension Agreement or Refinancing Facility Agreement and (b) with respect to any ABR Loan or Eurocurrency Loan that is a Tranche A Term Loan, the applicable rate per annum set forth below under the caption “ABR Spread” or “Eurocurrency Spread”, as the case may be, based upon the Total Leverage Ratio as of the end of the fiscal quarter of ▇▇▇▇▇▇ USA then most recently ended for which consolidated financial statements have been delivered pursuant to Section 5.01(a) or 5.01(b); provided that, for purposes of clause (b), until the date of the delivery of the consolidated financial statements pursuant to Section 5.01(a) or 5.01(b) as of and for the first fiscal quarter ended after the Effective Date, the Applicable Term Rate shall be based on the rates per annum set forth in Category 1: For purposes of the foregoing, each change in the Applicable Term Rate resulting from a change in the Total Leverage Ratio shall be effective during the period commencing on and including the Business Day following the date of delivery to the Administrative Agent pursuant to Section 5.01(a) or 5.01(b) of the consolidated financial statements indicating such change and ending on the date immediately preceding the effective date of the next such change. Notwithstanding the foregoing, the Applicable Term Rate shall be based on the rates per annum set forth in Category 2 (i) at any time that an Event of Default has occurred and is continuing if the Majority in Interest of the Tranche A Term Lenders shall so elect or (ii) if ▇▇▇▇▇▇ USA and the Company fail to deliver the consolidated financial statements required to be delivered pursuant to Section 5.01(a) or 5.01(b) or any Compliance Certificate required to be delivered pursuant hereto, in each case within the time periods specified herein for such delivery, during the period commencing on and including the day of the occurrence of a Default resulting from such failure and until the delivery thereof.
Applicable Term Rate means, for any day, with respect to any ABR Term Loan or Eurodollar Term Loan, as the case may be, the applicable rate per annum set forth below under the caption “ABR Spread” or “Eurodollar Spread”, as the case may be, based upon the Ratio, applicable on such date of the Borrower’s Consolidated Total Funded Debt to EBITDA measured at each Fiscal Quarter end, for the four Fiscal Quarter period then ended, taken together as a single accounting period:
Applicable Term Rate as set forth in Section 1.01 of the Credit Agreement is hereby amended so that the following provision is added to the end thereof: Provided further, however, during the Forbearance Period (as defined n Amendment No. 6), the Applicable Term Rate shall be the basis points number set forth in the above grid otherwise in accordance with the terms hereof plus an additional 25 basis points.
Applicable Term Rate means, for any day, with respect to any ABR Term Loan or Eurodollar Term Loan, as the case may be, the applicable rate per annum set forth below under the caption “ABR Spread” or “Eurodollar Spread”, as the case may be.
Applicable Term Rate as set forth in Section 1.01 of the Credit Agreement are hereby amended so that the term “Consolidated Total Funded Debt” as used therein is superseded and replaced in its entirety with “Consolidated Senior Funded Debt” each time it appears therein.
Applicable Term Rate means, for any day, (a) with respect to any ABR Loan or Eurocurrency Loan of a Class of Term Loans established pursuant to Section