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LC Margin definition

LC Margin means the percentage set forth below under the heading "LC Margin" opposite the applicable ratio. Consolidated Funded Debt to Consolidated EBITDA LC Margin ---------------------- --------- Equal to or less than 3.00:1.00 1.00% Greater than 3.00:1.00 but equal to or 1.25% less than 4.00:1.00 Greater than 4.00:1.00 1.50% Notwithstanding the foregoing, during the period commencing the Closing Date and ending on December 31, 1998 the LC Margin shall be 1.00%. The LC Margin will be set or reset on the date which is five Business Days following the date of receipt by the Agent of the financial statements referred to in Section 6.03(a) and Section 6.03(b) together with a certificate of the Chief Financial Officer of the Company certifying the ratio of Consolidated Funded Debt to Consolidated EBITDA and setting forth the calculation thereof in detail; provided, however, (a) the LC Margin will first be reset on January 1, 1999 provided the financial statements for the fiscal quarter ending September 30, 1998 and the certificate of the Chief Financial Officer of the Company identified above are delivered to the Agent not less than five (5) Business Days prior to January 1, 1999; and (b) if any such financial statement and certificate are not received by the Agent within the time period required pursuant to Section 6.03(a) or Section 6.03(b), as the case may be, the LC Margin will be set or reset based on a ratio of Consolidated Funded Debt to Consolidated EBITDA of greater than 4.00:1:00 and subject to increase as provided in Section 3.01(e) from the date such financial statement and certificate were due until the date which is five Business Days following the receipt by the Agent of such financial statements and certificate, and provided, further, that the Lenders shall not in any way be deemed to have waived any Default or Event of Default, including without limitation, a Default or Event of Default resulting from the failure of the Company to comply with Section 7.13 of this Agreement, or any rights or remedies hereunder or under any other Loan Document in connection with the foregoing proviso. During the occurrence and continuance of a Default or Event of Default, no downward adjustments and only upward adjustments, shall be made to the LC Margin.
Sample 1
LC Margin means 2%.
Sample 1
LC Margin means (i) 0.375% per annum for any day Level I Status exists; (ii) 0.475% per annum for any day Level II Status exists; (iii) 0.525% per annum for any day Level III Status exists; (iv) 0.750% per annum for any day Level IV Status exists; (v) 1.00% per annum for any day Level V Status exists; and (vi) 1.25% per annum for any day Level VI Status exists.
Sample 1

Examples of LC Margin in a sentence

  • Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment, subject to any agreements between Agent and individual Lenders), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.12(e)) which shall accrue at a rate equal to the L/C Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit.

  • The Applicable L/C Margin on Letters of Credit shall be as set forth in the Pricing Table.

  • The Borrowers shall pay a fee (the "Letter of Credit Fee") equal to (i) the Applicable L/C Margin multiplied by the Maximum Drawing Amount of each Financial Letter of Credit or (ii) 50% of the Applicable L/C Margin multiplied by the Maximum Drawing Amount of each Performance Letter of Credit.

  • The Borrowers shall pay a fee (the "Letter of Credit Fee") equal to the Applicable L/C Margin MULTIPLIED BY the Maximum Drawing Amount of each Letter of Credit.

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  • The Borrowers shall pay a fee (the "Letter of Credit Fee") equal to (i) the Applicable L/C Margin multiplied by the Maximum Drawing Amount of each Financial Letter of Credit plus (ii) 50% of the Applicable L/C Margin multiplied by the Maximum Drawing Amount of each Performance Letter of Credit.

  • Upon the occurrence of any Default or Event of Default, and so long as such Default or Event of Default continues without written waiver thereof by the Required Lenders, the annual rate at which such fee accrues shall be four percent (4.00%) plus the L/C Margin.

  • The Applicable Swing Line Margin, Applicable Index Margin, Applicable LIBOR Margin and Applicable L/C Margin will be 2.75%, 1.50%, 2.75% and 2.25%, respectively and shall not be subject to adjustment.

  • The L/C Fee shall be computed by multiplying the Applicable L/C Margin then in effect by the daily average of the aggregate available amount to be drawn under all Standby Letters of Credit outstanding during the Fiscal Quarter immediately preceding the Fee Payment Date (and shall be calculated on the basis of a 360 day year and the actual number of days elapsed).

  • On the last day of each March, June, September and December occurring after the date hereof (commencing December 31, 1998) and on the Expiration Date, the Borrowers shall pay to the Agent for the ratable account of the Lenders a fee at the rate equal to the Applicable L/C Margin per annum (computed on the basis of a year of 360 days and the actual number of days elapsed) on the average daily Stated Amount under Letters of Credit outstanding during the calendar quarter ending on such date.


More Definitions of LC Margin

LC Margin is hereby amended to delete the text "the fifth Business Day following the date of delivery of the financial statements for the third fiscal quarter ending March 28, 1999" and to insert the date "August 31, 1999" in place thereof.
Sample 1
LC Margin the Applicable Margin then in effect for LIBOR Loans which are Domestic Revolving Credit Loans per annum.
Sample 1

Related to LC Margin

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Note Margin With respect to each Mortgage Loan, the fixed percentage set forth in the related Mortgage Note and indicated in Exhibit One hereto as the "NOTE MARGIN," which percentage is added to the Index on each Adjustment Date to determine (subject to rounding in accordance with the related Mortgage Note, the Periodic Cap, the Maximum Mortgage Rate and the Minimum Mortgage Rate) the interest rate to be borne by such Mortgage Loan until the next Adjustment Date.

  • CD Margin means a rate per annum determined in accordance with the Pricing Schedule.

  • Base Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • Prime Rate Margin is one-quarter of one percent (0.25%).

  • LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: II 10.0 V 17.5

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Step Up Margin means the rate per annum specified in the applicable Final Terms; and

  • Applicable Base Rate Margin means, on any day, a rate per annum equal to the higher of (a) the Applicable Eurocurrency Margin for such day minus 1.00% and (b) 0.00%.

  • Free Margin means the amount of funds available in the Client Account, which may be used to open a position or maintain an Open Position. Free Margin shall be calculated as: Equity less (minus) Necessary Margin [Free margin = Equity- Necessary Margin].

  • First Margin means the margin specified as such in the applicable Final Terms; "First Reset Date" means the date specified in the applicable Final Terms;

  • Applicable Margins means collectively the Applicable Revolver Index Margin, the Applicable Term Loan Index Margin, the Applicable Revolver LIBOR Margin and the Applicable Term Loan LIBOR Margin.

  • Applicable ABR Margin means, at any date:

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: I 50.0 II 62.5 III 75.0 IV 87.5 V 100.0

  • Hedged Margin for CFD trading shall mean the necessary margin required by the Company so as to open and maintain Matched Positions.

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

  • Applicable Unused Line Fee Margin means the per annum fee, from time to time in effect, payable in respect of Borrowers’ non-use of committed funds pursuant to Section 1.9(b), which fee is determined by reference to Section 1.5(a).

  • Applicable Eurodollar Margin means, as at any date of determination, the rate per annum then applicable to Eurodollar Rate Loans determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • Applicable LIBOR Margin means, at any date:

  • Facility Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.

  • Interest Margin or "rm" means the percentage specified as such in the table below. The Calculation Agent may adjust the Interest Margin, acting in good faith and in a commercially reasonable manner, to reflect any disparity between the Reference Interest Rate and the Issuer's funding rate, save that the Interest Margin will not be less than the Minimum Interest Margin and will not exceed the Maximum Interest Margin;

Most Referenced Clauses

Most Referenced Definitions