LIBO Rate Applicable Margin definition
LIBO Rate Applicable Margin means (a) on any date for which it is determined prior to the Revolving Period Commitment Termination Date and on which the ratio (expressed as a percentage) of the outstanding principal of Senior Debt, including any Revolving Loans outstanding, to the Borrowing Base then in effect shall equal those ratios set forth below, the percentage set forth opposite such ratio: Ratio of Senior Debt LIBO Rate to Borrowing Base Applicable Margin -------------------- ----------------- Greater than 95% 2.000% Greater than 80% and less than or equal to 95% 1.750% Greater than 60% and less than or equal to 80% 1.450% Greater than 40% and less than or equal to 60% 1.200% Less than or equal to 40% .875%
LIBO Rate Applicable Margin in Section 1.1 of the Credit Agreement is hereby amended by replacing the existing pricing grid with the following pricing grid: Greater than or equal to 90% 2.000 % Greater than or equal to 66.6% and less than 90% 1.750 % Greater than or equal to 33.3% and less than 66.6% 1.500 % Less than 33.3% 1.250 %
LIBO Rate Applicable Margin means (a) on any date for which it is --------------------------- determined prior to the Revolving Loan Commitment Termination Date and on which the ratio (expressed as a percentage) of the outstanding principal of Senior Debt, including any Revolving Loans outstanding, to the U.S. Borrowing Base then in effect on the first day of the Interest Period to which such margin is applicable shall equal those ratios set forth below, the percentage set forth opposite such ratio: Ratio of Senior Debt LIBO Rate to U.S. Borrowing Base Applicable Margin ---------------------- ----------------- Greater than 115% 1.500% Greater than 100% and less than or equal to 115% 1.250% Greater than 75% and less than or equal to 100% 1.125% Greater than 65% and less than or equal to 75% .875% Greater than 50% and less than or equal to 65% .750% Less than or equal to 50% .625%
Examples of LIBO Rate Applicable Margin in a sentence
The fee applicable to Letters of Credit shall be computed at the applicable LIBO Rate Applicable Margin per annum as provided in Schedule 2.4(e) hereto on the average daily amount of Letter of Credit Outstandings accrued from and after the date hereof.
More Definitions of LIBO Rate Applicable Margin
LIBO Rate Applicable Margin means (a) on any date for which it is determined prior to the Revolving Period Commitment Termination Date and on which the ratio (expressed as a percentage) of the outstanding principal of Borrowing Base Debt, including any Revolving Loans outstanding and Revolving Loan Letter of Credit Outstandings, to the Borrowing Base then in effect shall equal those ratios set forth below, the percentage set forth opposite such ratio: Ratio of Borrowing Base Debt LIBO Rate to Borrowing Base Applicable Margin --------------------------- ----------------- Greater than or equal to 80% 2.000% Greater than or equal to 50% and less 1.750% than 80% Greater than or equal to 20% and less 1.500% than 50% Less than 20% 1.250%