Eurodollar Spread definition
Eurodollar Spread or "Commitment Fee Rate", as the case may be, based upon the ratings by Moody's and S&P, respectively, applicable on such date to the Inde▇ ▇▇▇▇: ========================= ========================= ======================== Index Debt Ratings Commitment Fee Rate Eurodollar Spread ------------------------- ------------------------- ------------------------ Category 1 0.080 % 0.350 % = Baa1/BBB+ ------------------------- ------------------------- ------------------------ Category 2 0.100 % 0.450 % Baa2/BBB ------------------------- ------------------------- ------------------------ ------------------------- ------------------------- ------------------------ Category 3 0.125 % 0.625 % Baa3/BBB- ------------------------- ------------------------- ------------------------ ------------------------- ------------------------- ------------------------ Category 4 0.175 % 0.875 % = Ba1/BB+ ========================= ========================= ======================== On each day that the sum of the total Credit Exposures exceed 50% of the total Commitments, the Eurodollar Spread shall be 0.10% higher in the case of Category 1 and 2 and shall be 0.125% higher in the case of Category 3 and 4. Applicable Margin for ABR Loans is zero percent (0%). For purposes of the foregoing, if both Moody's and S&P shall not have in effect a rating for the Index Debt (▇▇▇▇r than by reason of the circumstances referred to in the last sentence of this definition), then such agencies shall be deemed to have established a rating in Category 4. If the ratings established or deemed to have been established by Moody's and S&P for the Index Debt shall fall within different Cate▇▇▇▇▇▇, the Applicable Margin shall be based on the higher of the two ratings, unless one of the two ratings is two or more Categories lower than the other, in which case the Applicable Margin shall be determined by reference to the Category next above that of the lower of the two ratings; provided, however, that if only one of Moody's or S&P shall have established a rating, then the App▇▇▇▇▇▇▇ Margin shall be determined by reference to such available rating. 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 a ▇▇▇▇▇▇ of a change in the rating system of Moody's or S&P), such change shall be effective as of the date on ▇▇▇▇▇ it is first announced by the applicable rating agency, irrespective of when notice of such change shall have been furnish...
Eurodollar Spread means, on any date and with respect to each Eurodollar Advance, the applicable rate per annum set forth in Schedule A based on the applicable Rating Level and Debt/Capitalization Ratio on such date.
Eurodollar Spread or "Commitment Fee Rate", as the case may be, based upon the Leverage Ratio as of the most recent determination date, provided that until the delivery to the Administrative Agent, pursuant to Section 5.01(b), of Holdings's consolidated financial statements for Holdings's first fiscal quarter ending after the Effective Date, the "Applicable Margin" for purposes of clause (b) above shall be the applicable margin per annum set forth below in Category 1: -------------------------------------------------------------------------------- ABR Eurodollar Commitment Fee Leverage Ratio: Spread Spread Rate -------------------------------------------------------------------------------- Category 1 Equal to or greater 1.50% 2.50% 0.50% than 1.00 to 1.00 -------------------------------------------------------------------------------- Category 2 Less than 1.00 to 1.00 1.25% 2.25% 0.50% but equal to or greater than 0.50 to 1.00 -------------------------------------------------------------------------------- Category 3 Less than 0.50 to 1.00 1.00% 2.00% 0.50% but equal to or greater than 0.25 to 1.00 -------------------------------------------------------------------------------- Category 4 0.75% 1.75% 0.50% Less than 0.25 to 1.00 -------------------------------------------------------------------------------- For purposes of the foregoing, (a) the Leverage Ratio shall be determined as of the end of each fiscal quarter of Holdings's fiscal year based upon Holdings's consolidated financial statements delivered pursuant to Section 5.01(a) or (b) and (b) each change in the Applicable Margin resulting from a change in the Leverage Ratio shall be effective during the period commencing on and including the first Business Day after the date of 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 (i) at any time that an Event of Default has occurred and is continuing or (ii) at the option of the Administrative Agent or at the request of the Required Lenders if Holdings 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.
Examples of Eurodollar Spread in a sentence
Adjustments in the Eurodollar Spread (bps) for a Eurodollar 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 Eurodollar 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.
Notwithstanding anything set forth in this Agreement, Swingline Loans shall bear interest at the Swingline Lender quoted cost of funds plus the Applicable Rate (Eurodollar Spread) for Tranche B Term Loans; provided, however, that Swingline Loans shall bear interest at a rate no higher than at the Alternate Base Rate plus the Applicable Rate (ABR Spread) for Revolving Loans.
The Leverage Ratio utilized for purposes of determining the Eurodollar Spread and the Swingline Spread shall be that in effect as of the last day of the most recently completed fiscal quarter of the Borrower in respect of which financial statements have been delivered pursuant to this Agreement or the Existing Credit Agreement.
Subject to Section 2.06(c), the Borrower agrees ---------------- to pay interest in respect of the unpaid principal amount of each Eurodollar Loan from the date thereof until payment in full thereof at a rate per annum which shall be the sum of the Applicable Rate (Eurodollar Spread) plus the relevant Adjusted LIBO Rate, but in no event to exceed the Highest Lawful Rate.
More Definitions of Eurodollar Spread
Eurodollar Spread means 102.37 basis points (1.0237%).
Eurodollar Spread means two and 25/100 percent (2.25%).
Eurodollar Spread or "Facility Fee Rate", as the case may be, based upon the ratings by S&P and ▇▇▇▇▇'▇, respectively, applicable on such date to the Index Debt of the Borrower (or the Parent, in the circumstance described below):
Eurodollar Spread or "Commitment Fee Rate", as the case may be, based upon the Leverage Ratio as of the most recent determination date; provided that until the delivery to the Administrative Agent, pursuant to Section 5.01(b), of Borrower's consolidated financial statements for Borrower's first full fiscal quarter commencing after the Third Restatement Effective Date, the "Applicable Rate" shall be the applicable rate per annum set forth below in Category 1:
Eurodollar Spread means, with respect to each Committed Eurodollar ----------------- Loan:
Eurodollar Spread means one and one-half of one percent ----------------- (1.50%).
Eurodollar Spread. COMMITMENT FEE RATE" or "LETTER OF CREDIT FEE RATE", as the case may be, based upon the Applicable Leverage Ratio for such Performance Period (or portion thereof): REVOLVING LOANS AND TRANCHE A TERM LOANS ABR EURODOLLAR COMMITMENT LETTER OF CREDIT APPLICABLE LEVERAGE RATIO: SPREAD SPREAD FEE RATE FEE RATE ------------------------------------------------- ------ ------ -------- -------- /greater than/5.25 TO 1 0.500% 1.750% 0.500% 1.500% /greater than/ 4.75 TO 1 AND /less than/ 5.25 TO 1 0.250% 1.500% 0.375% 1.250% or equal to /greater than/ 4.25 TO 1 AND /less than/ 4.75 TO 1 0% 1.250% 0.375% 1.000% or equal to /greater than/ 3.75 TO 1 AND /less than/ 4.25 TO 1 0% 1.125% 0.300% 1.000% or equal to /greater than/ 3.25 TO 1 AND /less than/ 3.75 TO 1 0% 1.000% 0.300% 0.750% or equal to /greater than/ 2.75 TO 1 AND /less than/ 3.25 TO 1 0% 0.750% 0.250% 0.500% or equal to /less than/ 2.75 TO 1 0% 0.625% 0.200% 0.500% or equal to TRANCHE B TERM LOANS APPLICABLE LEVERAGE RATIO: ABR SPREAD EURODOLLAR SPREAD -------------------------------------------------- ---------- ----------------- /greater than/ 5.25 TO 1 0.750% 2.000% /greater than/ 3.75 TO 1 AND /less than/ 5.25 TO 1 0.500% 1.750% or equal to /less than/ 3.75 TO 1 0.250% 1.500% or equal to