Eurocurrency Spread definition

Eurocurrency Spread or "Facility Fee Rate", respectively, based upon the Leverage Ratio as of the most recent determination date; provided that until the delivery of the financial statements for the fiscal quarter ending December 31, 2001 the "Applicable Rate" shall be the applicable rate per annum set forth below in Category 2: Five-Year Credit Agreement ABR Eurodollar Facility Leverage Ratio Spread Spread Fee Rate Category 1 (less than) 1.75x 0 0.575% 0.175% Category 2 (greater than)1.75x 0 0.80% 0.20% (less than) 2.50x Category 3 (greater than)2.50x 0 1.00% 0.25% (less than) 3.00x Category 4 (greater than)3.00x 0 1.20% 0.30% For purposes of the foregoing, (i) the Leverage Ratio shall be determined as of the end of each fiscal quarter of the Borrower's fiscal year based upon the Borrower's consolidated financial statements delivered pursuant to Section 6.01(a) or (b) and (ii) each change in the Applicable Rate resulting from a change in the Leverage Ratio shall be effective during the period commencing on and including the date three Business Days after delivery to the Administrative Agent of such consolidated financial statements (and the related compliance certificate required under Section 6.01(c)) indicating such change and ending on the date immediately preceding the effective date of the next such change; provided that (A) the Leverage Ratio shall be deemed to be in Category 4 at any time that an Event of Default has occurred and is continuing and (B) if the Borrower fails to deliver the consolidated financial statements required to be delivered by it pursuant to Section 6.01(a) or (b) (and/or the related compliance certificate required to be delivered by it pursuant to Section 6.01(c)), any adjustment in the Applicable Rate shall be delayed until the delivery thereof and shall be retroactively applied for the period from the expiration of the time for delivery thereof until the date of such delivery.
Sample 1
Eurocurrency Spread. ABR Spread" or "Facility Fee Rate," based upon the ratings by Moody's and S&P, respectively, applicable on such date to the Index Xxxx: ==================================================================================================================== Eurocurrency Facility Fee Utilization Level Index Debt Rating Spread ABR Spread Rate Fee Rate -------------------------------------------------------------------------------------------------------------------- I >= A-/A3 0.35% 0.00% 0.10% 0.125% -------------------------------------------------------------------------------------------------------------------- II BBB+/Baa1 0.50% 0.00% 0.125% 0.125% -------------------------------------------------------------------------------------------------------------------- III BBB/Baa2 0.60% 0.00% 0.15% 0.125% -------------------------------------------------------------------------------------------------------------------- IV BBB-/Baa3 0.80% 0.00% 0.20% 0.25% -------------------------------------------------------------------------------------------------------------------- V <= BB+/Ba1 1.075% 0.025% 0.25% 0.25% ==================================================================================================================== For purposes of the foregoing, (i) if the ratings established or deemed to have been established by Moody's and S&P for the Index Debt shall fall within different Levexx, xxx Applicable Rate shall be based on the higher of the two ratings (i.e., the lower Level number) unless one of the two ratings is two or more Levels lower than the other, in which case the Applicable Rate shall be determined by reference to the Level next below that of the higher of the two Levels; and (ii) if the ratings established or deemed to have been established by Moody's and S&P for the Index Debt shall be changed (other than as x xxxxxt of a change in the rating system of Moody's or S&P), such change shall be effective as of the date on wxxxx xx is first announced by the applicable rating agency. Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of Moody's or S&P shall change, or if either such rating agency shall xxxxx xo be in the business of rating corporate debt obligations, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating sy...
Sample 1
Eurocurrency Spread or "Facility Fee Rate", as the case may be, based upon the Fixed Charge Coverage Ratio as reflected in the then most recently delivered Financials:
Sample 1

Examples of Eurocurrency Spread in a sentence

  • In the event the Debt Ratings from the Rating Agencies are not equivalent, the Eurocurrency Spread (bps) will be determined (i) based on the higher of the two Debt Ratings if the lower Debt Rating is no more than one level lower than the higher Debt Rating, and (ii) based on the level that is one rating level higher than the lower Debt Rating if the lower Debt Rating is more than one level lower than the higher Debt Rating.

  • Adjustments in the Eurocurrency Spread (bps) for a Eurocurrency Rate Loan based upon a change in a Debt Rating level shall be effective on the first day following the change in such Debt Rating.

  • Upon satisfaction of the requirements contained in this paragraph 6 as determined by the Agent in its sole discretion, the Domestic Rate Spread on Excess Domestic Rate Loans and the Eurocurrency Spread shall each be reduced by 0.25% per annum.

  • As of June 30, 2014, the Term Loan and loans under the Revolving Credit Facility bear interest atLIBOR plus 150 basis points, or the Eurocurrency Spread, or the alternate base rate (“ABR”) plus 50 basis points, and undrawn amounts are currently subject to a commitment fee of 22.5 basis points.

  • As of June 30, 2014, TripAdvisor used a one‑month interest period Eurocurrency Spread which is approximately 1.7% per annum.Interest is payable on a monthly basis while TripAdvisor is borrowing under the II-9one‑month interest rate period.

  • Xxxxxxxx Title: First Vice President PRICING SCHEDULE Level Index Debt Rating Base Rate Spread Eurocurrency Spread FacilityFee Rate I AA-/Aa3 or better .


More Definitions of Eurocurrency Spread

Eurocurrency Spread. LETTER OF CREDIT FEE RATE" or "COMMITMENT FEE RATE", as the case may be, based upon the Applicable Leverage Ratio on such day: ===================================================================================================== Letter of Applicable Leverage Ratio: ABR Eurocurrency Credit Commitment Spread Spread Fee Rate Fee Rate ----------------------------------------------------------------------------------------------------- 0% 1.00% 0.75% .250% <2.00 to 1 - ----------------------------------------------------------------------------------------------------- 0% 1.25% 1.00% .3125% >2.00 to 1 and < 2.50 to 1 - ----------------------------------------------------------------------------------------------------- .25% 1.50% 1.25% .375% >2.50 to 1 and < 3.00 to 1 - ----------------------------------------------------------------------------------------------------- .50% 1.75% 1.50% .4375% >3.00 to 1 and < 3.50 to 1 - ----------------------------------------------------------------------------------------------------- .75% 2.00% 1.75% .500% >3.50 to 1 =====================================================================================================
Sample 1
Eurocurrency Spread or "Facility Fee Rate", respectively, based upon the Leverage Ratio as of the most recent determination date; provided that the "Applicable Rate" shall be the applicable rate per annum set forth below in Category 2 from the Effective Date until the next change in the Applicable Rate in accordance with the immediately succeeding sentence: Credit Agreement EURO- LEVERAGE ABR CURRENCY FACILITY FEE RATIO SPREAD SPREAD RATE ------------------------------- ------ -------- ------------ Category 1: > 3.00 to 1 0% 0.80% 0.20% Category 2: > 2.50 to 1 and < or = 3.0 to 1 0% 0.70% 0.175% Category 3: > 2.0 to 1 and < or = 2.50 to 1 0% 0.60% 0.15% Category 4: > 1.50 to 1 and < or = 2.0 to 1 0% 0.50% 0.125% Category 5: < or = 1.50 to 1 0% 0.40% 0.10% For purposes of the foregoing, (i) the Leverage Ratio shall be determined as of the end of each fiscal quarter of the Borrower based upon the Borrower's consolidated financial statements delivered pursuant to Section 5.01(a) or (b) and (ii) each change in the Applicable Rate resulting from a change in the Leverage Ratio shall be effective during the period commencing on and including the date three Business Days after delivery to the Administrative Agent of such consolidated financial statements indicating such change and ending on the date immediately preceding the effective date of the next such change; provided that the Leverage Ratio shall be deemed to be in Category 1 (A) at any time that an Event of Default has occurred and is continuing and (B) if the Borrower fails to deliver the consolidated financial statements required to be delivered by it pursuant to Section 5.01(a) or (b), during the period from the expiration of the time for delivery thereof until such consolidated financial statements are delivered.
Sample 1
Eurocurrency Spread means 2.75%; provided, however, that (a) the Eurocurrency Spread shall be 2.25% if within 10 Business Days of the initial Acquisition Borrowing the credit facilities under this Agreement shall have received credit ratings from Standard & Poor's Ratings Services and Xxxxx'x Investors Service, Inc. of BB+ and Ba1 or higher, respectively and (b) the Eurocurrency Spread shall be increased by 0.75% during the Extension Period.
Sample 1
Eurocurrency Spread. Eurodollar Spread" or "Facility Fee Rate", as the case may be, set forth in the chart below which corresponds to the range of ratios in which the Borrower's Total Funded Debt to Consolidated EBITDA Ratio as at the end of the preceding Fiscal Quarter falls: ========================================================================================================= ABR LIBOR EUROCURRENCY FACILITY FEE TOTAL FUNDED DEBT SPREAD SPREAD SPREAD RATE TO CONSOLIDATED EBITDA RATIO ------ ------ ------------ ------------ --------------------------------------------------------------------------------------------------------- Equal to or Less than 0.75 to 1.0 0.0% 0.325% 0.325% 0.100% --------------------------------------------------------------------------------------------------------- Greater than 0.75 to 1.0 but equal to 0.0% 0.460% 0.460% 0.125% or less than 1.50 to 1.0 --------------------------------------------------------------------------------------------------------- Greater than 1.50 to 1.0 but equal to 0.0% 0.600% 0.600% 0.150% or less than 2.25 to 1.0 --------------------------------------------------------------------------------------------------------- Greater than 2.25 to 1.0 0.0% 1.25% 1.25% 0.300% ========================================================================================================= For purposes of the foregoing, all adjustments under this definition shall be determined as of the first day of the Fiscal Quarter following the date the Borrower's financial statements and Compliance Certificate are required to be delivered pursuant to items (a), (b) and (c) of Section 5.01.
Sample 1
Eurocurrency Spread. Eurodollar Spread" or "Facility Fee Rate", as the case may be, set forth in the chart below which corresponds to the range of ratios in which the Borrower's Total Funded Debt to Consolidated EBITDA Ratio as at the end of the preceding Fiscal Quarter falls: --------------------------------------------------------------------------------------------------------------- Total Funded Debt to Consolidated ABR LIBOR Eurocurrency Facility Fee EBITDA Ratio Spread Spread Spread Rate --------------------------------------------------------------------------------------------------------------- Equal to or Less than 0.75 to 1.0 0.0% 0.325% 0.325% 0.100% --------------------------------------------------------------------------------------------------------------- Greater than 0.75 to 1.0 but equal to 0.0% 0.460% 0.460% 0.125% or less than 1.50 to 1.0 --------------------------------------------------------------------------------------------------------------- Greater than 1.50 to 1.0 but equal to 0.0% 0.600% 0.600% 0.150% or less than 2.25 to 1.0 --------------------------------------------------------------------------------------------------------------- Greater than 2.25 to 1.0 0.0% 1.25% 1.25% 0.300% ---------------------------------------------------------------------------------------------------------------
Sample 1
Eurocurrency Spread in the first table in such definition and replacing it with the text "3.75%".
Sample 1

Related to Eurocurrency Spread

  • Eurocurrency when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate.

  • Eurocurrency Interest Period means with respect to any Eurocurrency Rate Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, to the extent agreed to by the Agent and each Lender making such Eurocurrency Rate Borrowing, twelve months or any shorter period) thereafter, as a Borrower may elect; provided that (a) if any Eurocurrency Interest Period would end on a day other than a Business Day, such Eurocurrency Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Eurocurrency Interest Period shall end on the next preceding Business Day, (b) any Eurocurrency Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Eurocurrency Interest Period) shall end on the last Business Day of the last calendar month of such Eurocurrency Interest Period and (c) no Eurocurrency Interest Period for any (i) Eurocurrency Rate Revolving Loan shall end after the latest Scheduled Termination Date for the applicable Revolving Commitments under the applicable Revolving Facility or (ii) Eurocurrency Rate Term Loans shall end after the stated maturity date of such Term Loans.

  • Eurocurrency Tranche the collective reference to Eurocurrency Loans under a particular Facility the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

  • Eurodollar when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Applicable Eurocurrency Margin means, as at any date of determination, the rate per annum then applicable to Eurocurrency Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Eurocurrency Base Rate means, for such Interest Period:

  • Eurocurrency Rate Reserve Percentage for any Interest Period for all Eurocurrency Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurocurrency Rate Advances is determined) having a term equal to such Interest Period.

  • Eurocurrency Reserve Percentage means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirements) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The Eurocurrency Rate for each outstanding Eurocurrency Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurocurrency Reserve Percentage.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Eurocurrency Loans Loans the rate of interest applicable to which is based upon the Eurocurrency Rate.

  • LIBOR has the meaning specified in the definition of Eurodollar Rate.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Eurocurrency Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Eurocurrency Rate Advance means a Revolving Credit Advance denominated in Dollars or a Committed Currency that bears interest as provided in Section 2.07(a)(ii).

  • Eurodollar Margin means the percentage set forth in Schedule 1 hereto beside the then applicable Level.

  • Eurodollar Reserve Percentage means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The Eurodollar Rate for each outstanding Eurodollar Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurodollar Reserve Percentage.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Rate Loans.

  • Eurocurrency Reserve Requirements for any day as applied to a Eurodollar Loan, the aggregate (without duplication) of the maximum rates (expressed as a decimal fraction) of reserve requirements in effect on such day (including basic, supplemental, marginal and emergency reserves) under any regulations of the Board or other Governmental Authority having jurisdiction with respect thereto dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board) maintained by a member bank of the Federal Reserve System.

  • Eurocurrency Reserve Requirement means the sum (without duplication) of the rates (expressed as a decimal) of reserves (including, without limitation, any basic, marginal, supplemental, or emergency reserves) that are required to be maintained by banks during the Interest Period under any regulations of the Federal Reserve Board, or any other governmental authority having jurisdiction with respect thereto, applicable to funding based on so-called “Eurocurrency Liabilities”, including Regulation D (12 CFR 224).

  • Eurodollar Rate Reserve Percentage for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.

  • Eurodollar Period means, as to each Eurodollar Rate Loan, the period commencing on the date specified by Borrower pursuant to Section 2.1(b) and ending 1, 2, 3 or 6 months (or, with the written consent of all of the Lenders, any other period) thereafter, as specified by Borrower in the applicable Request for Loan; provided that:

  • Eurocurrency Loan means any Eurocurrency Term Loan or Eurocurrency Revolving Loan.

  • Eurodollar Competitive Loan means any Competitive Loan bearing interest at a rate determined by reference to the LIBO Rate in accordance with the provisions of Article II.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Eurodollar Interest Period means, for any Eurodollar-based Advance, an Interest Period of one, two or three months (or any shorter or longer periods agreed to in advance by the Borrower, the Agent and the Lenders) as selected by the Borrower, for such Eurodollar-based Advance pursuant to Section 2.3 or 4.4 hereof, as the case may be.