Base Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the LIBOR Margin determined as of the Determination Date for which LIBOR was last available and (b) the Base Rate as of such Determination Date; provided, however, that if such difference is a negative number, then the Base Rate Spread shall be zero.
Base Rate Spread or "Offshore Rate Spread," as appropriate, in the pricing grid set forth in Schedule 2.9(e) in accordance with the parameters for calculations of such amount also set forth in Section 2.9(e).
Base Rate Spread means, with respect to any Loan bearing interest at the Base Rate for any time prior to the Final Maturity Date, the applicable margin set forth below under the caption "Base Rate Spread", determined by reference to the percentage of the Borrowing Base that the sum of all Loans outstanding plus all LC Obligations represent at that time. Percentage of Borrowing Base Usage Base Rate Spread ------------------ ----------------- greater than or equal to 75% 0.25% greater than or equal to 60% but less than 75% 0.00% greater than 40% but less than 60% 0.00% less than or equal to 40% 0.00%
Examples of Base Rate Spread in a sentence
Except as otherwise provided in Section 3.7, the unpaid principal amount of any Base Rate Loan shall bear interest at a fluctuating rate per annum equal to the sum of the Base Rate plus the Applicable Base Rate Spread.
It is further understood and agreed that the Term SOFR Spread and Daily SOFR Spread and the Base Rate Spread will never be reduced by more than 0.02% in the aggregate pursuant to the Sustainability Margin Adjustment during any calendar year.
If on such day the Base Rate is 7.50%, then the Base Rate Spread shall be -0.75%.
Each Swing Line Loan shall bear interest on each day outstanding at a rate equal to the Base Rate plus the Base Rate Spread applicable to Revolving Loans in effect on such day.
For example, if on such day the Eurodollar Rate is 6.75% and the Base Rate is 6.25%, then the Base Rate Spread shall be 0.50%.
More Definitions of Base Rate Spread
Base Rate Spread. The percentage rate to be added to the Base Rate to determine the Base Interest Rate, calculated as follows, and effective on the first (1st) day of the month following Lender’s receipt of Borrower’s quarterly Financial Statement pursuant to the Loan Agreement, which receipt shall be not later than fifteen (15) days prior to an applicable change to the Base Rate Spread, keyed to Borrower’s then ratio of total liabilities to Tangible Net Worth (however no such ratio in excess of 3.25 to 1 is permitted under this Note): Ratio of Total Liabilities To Tangible Net Worth Base Rate Spread
Base Rate Spread means, with respect to any Base Rate Loan for any time prior to the Maturity Date, 1.5% per annum.
Base Rate Spread means zero percent (0%) per annum.
Base Rate Spread means, with respect to any Loan bearing interest at the Base Rate for any time prior to the Final Maturity Date, the applicable margin set forth below under the caption "Base Rate Spread", determined by reference to the percentage of the Borrowing Base that the sum of all Advances outstanding plus all LC Obligations represent at that time.
Base Rate Spread means, during each Pricing Period, the rate set forth below opposite the Leverage Ratio reported as of the last day of the Fiscal Quarter ending approximately two months prior to the first day of that Pricing Period (or, in the case of any Pricing Period commencing on the date of any Material Permitted Acquisition, the Pro Forma Leverage Ratio in effect on the date thereof): Less than or equal to 1.00:1.00 75.0 bps Greater than 1.00:1.00 but less than or equal to 1.50:1.00 100.0 bps Greater than 1.50:1.00 125.0 bps
Base Rate Spread means, (i) for any day during which the Series 2004 Subordinated Bonds bear interest determined by reference to the Base Rate as a result of the illegality or unavailability of LIBOR, 62.34% of the Base Rate for such day, (ii) for any day during which the Series 2004 Subordinated Bonds bear interest determined by reference to the Base Rate as a result of the occurrence and continuation of an Event of Default other than an event described in Section 10.01(a)(v), 62.34% of the Base Rate for such day plus 200 basis points, or (iii) for any day, commencing the preceding day, during which the Series 2004 Subordinated Bonds bear interest determined by reference to the Base Rate as a result of the occurrence and continuation of an Event of Default described in Section 10.01(a)(v) or a City Insolvency Event, 62.34% of the Base Rate for such day plus 250 basis points.
Base Rate Spread means, during each Pricing Period, the rate set forth below opposite the Leverage Ratio reported as of the last day of the Fiscal Quarter ending approximately two months prior to the first day of that Pricing Period (or, in the case of any Pricing Period commencing on the date of any Material Permitted Acquisition, the Pro Forma Leverage Ratio in effect on the date thereof):