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: 364-Day Credit Agreement ABR Eurodollar Facility Leverage Ratio Spread Spread Fee Rate -------------- ------ ------ -------- Category 1 <1.75x 0 0.60% 0.15% Category 2 (Greater than or Equal to)1.75x 0 0.825% 0.175% <2.50x Category 3 (Greater than or Equal to)2.50x 0 1.05% 0.20% <3.00x Category 4 (Greater than or Equal to)3.00x 0 1.25% 0.25% 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.
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...
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 but subject to the following:
Examples of Eurocurrency Spread in a sentence
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.
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.
The table set forth in the definition of “Applicable Rate” shall be amended and restated in its entirety to read as follows: Aggregate Average Availability UK Base Rate Spread ABR Spread Eurocurrency Spread B/A Spread Can.
Xxxxxxxx Title: First Vice President Xxxxxxx Electric Co. Credit Agreement PRICING SCHEDULE Level Index Debt Rating Base Rate Spread Eurocurrency Spread FacilityFee Rate I AA-/Aa3 or better .
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.
More Definitions of Eurocurrency Spread
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.
Eurocurrency Spread in the first table in such definition and replacing it with the text "3.75%".
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 =====================================================================================================
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% ---------------------------------------------------------------------------------------------------------------
Eurocurrency Spread or "Facility Fee Rate", respectively, based upon the Leverage Ratio as of the most recent determination date; provided that from and after the Effective Date to but excluding the third Business Day after delivery of the financial statements for the fiscal quarter ending September 30, 2007, the "Applicable Rate" shall be deemed to be in Category 2: ABR Eurodollar Facility Leverage Ratio Spread Spread Fee Rate -------------- ------ ---------- --------- Category 1 < 1.75x 0.025 1.025% 0.225% Category 2 > or = 1.75x 0.225 1.225% 0.275% < 2.50x Category 3 > or = 2.50x 0.45 1.45% 0.30% < 3.00x Category 4 > or = 3.00x 0.675 1.675% 0.325% For purposes of the foregoing, (i) the Leverage Ratio shall be determined as of the end of each fiscal quarter or fiscal year of the Company, as applicable, based upon the Company's consolidated financial statements delivered pursuant to Section 6.01(a) or (b) and (ii) subject to the proviso set forth above in this definition, 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 Company 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.
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.
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.