LIBO Rate Spread definition

LIBO Rate Spread or “Commitment Fee”, as the case may be, applicable on such date to the Total Leverage Ratio: Level I - When the TLR > 3.75 0.75 % 2.25 % .500 Level II - When the TLR < 3.75 and > 3.25 0.50 % 2.00 % .375 Level III - When the TLR < 3.25 and > 2.75 0.25 % 1.75 % .250 Level IV - When the TLR < 2.75 0.00 % 1.50 % .200 *TLR is the abbreviation for Total Leverage Ratio. The Total Leverage Ratio is calculated for the most recently-completed Four Quarter Period. Until the receipt by Administrative Agent of the first quarterly Compliance Certificate after the Effective Date, the Total Leverage Ratio shall be deemed to be at Level III. The Applicable Rate, as adjusted to reflect such calculations, shall become effective on the date of receipt by the Administrative Agent of written notice from the Borrower of the Total Leverage Ratio applicable to such Four Quarter Period. If Borrower fails to timely furnish to the Administrative Agent written notice of the Total Leverage Ratio, then the Applicable Rate in effect on the last day of the last Four Quarter Period for which the Total Leverage Ratio was calculated shall remain in effect until a new Applicable Rate can be calculated, which new Applicable Rate shall become effective as provided in the immediately preceding sentence.
LIBO Rate Spread means: (a) during the Original Term, three and one half percent (3.5%); (b) during the First Extension Term (provided Borrower exercises its first Option to Extend in accordance with the terms of Section 2.3 hereof), four and one half percent (4.5%); and (c) during the Second Extension Term (provided Borrower exercises its second Option to Extend in accordance with the terms of Section 2.3 hereof), five and one half percent (5.5%). In the event the Obligations are not repaid in full on the Maturity Date, the LIBO Rate Spread for all periods after the Maturity Date until all Obligations are repaid in full shall be the LIBO Rate Spread in effect on the day prior to the Maturity Date.
LIBO Rate Spread means four percent (4.00%).

More Definitions of LIBO Rate Spread

LIBO Rate Spread means a percentage, determined as set forth in Section 2.4.
LIBO Rate Spread means three and 15/100th percent (3.15%).
LIBO Rate Spread means (a) during the Original Term, three and one half percent (3.5%); (b) during the First Extension Term (provided Borrower exercises its first Option to Extend in accordance with the terms of Section 2.3 hereof), four and one half percent (4.5%); and (c) during the Second Extension Term (provided Borrower exercises its second Option to Extend in accordance with the terms of Section 2.3 hereof), five and one half percent (5.5%); provided, however, that immediately after the Release Date, the LIBO Rate Spread shall be four and one half percent (4.5%) during any Second or Third Extension Term. In the event the Obligations are not repaid in full on the Maturity Date, the LIBO Rate Spread for all periods after the Maturity Date until all Obligations are repaid in full shall be the LIBO Rate Spread in effect on the day prior to the Maturity Date.

Related to LIBO Rate Spread

  • LIBOR Spread means, at any date or any period of determination, the LIBOR Spread that would be in effect on such date or during such period pursuant to the chart set forth in Section 2.22 based on the rating of the Borrower's senior unsecured long-term debt.

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • 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.

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

  • Applicable Eurodollar Rate Margin means, 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: