Line of Credit Pricing Grid definition

Line of Credit Pricing Grid means the following Line of Credit Pricing Grid:
Line of Credit Pricing Grid means the following Line of Credit Pricing Grid: --------------------------------------------------------------------------- - APPLICABLE MARGINS (IN BASIS POINTS) & FEE - --------------------------------------------------------------------------- RATIO OF FUNDED PRICING LIBOR REFERENCE LINE OF CREDIT DEBT TO EBITDA LEVEL MARGIN RATE MARGIN FACILITY FEE --------------------------------------------------------------------------- < 1.00 I 175 50 25.0 --------------------------------------------------------------------------- =/> 1.00 < 1.50 II 200 75 25.0 --------------------------------------------------------------------------- =/> 1.50 < 2.00 III 225 100 37.5 --------------------------------------------------------------------------- =/> 2.00 < 2.50 IV 250 125 50.0 --------------------------------------------------------------------------- Borrower shall be eligible for Level I pricing when its ratio of Funded Debt to EBITDA is less than 1.00:1.00; for Level II pricing when such ratio is equal to or greater than 1.00:1.00, but less than 1.50:1.00; for Level III pricing when such ratio is equal to or greater than 1.50:1.00, but less than 2.00:1.00; for Level IV pricing when such ratio is equal to or greater than 2.00:1.00, but less than 2.50:1.00. This ratio shall be measured quarterly for the preceding four-quarter period. The pricing will be set at Level IV until receipt of the first financial covenant compliance reflecting the Funded Debt to EBITDA ratio.
Line of Credit Pricing Grid means the following Line of Credit Pricing Grid: - APPLICABLE MARGINS (IN BASIS POINTS) & FEE - Ratio of Funded Pricing LIBOR Reference Line of Credit Debt to EBITDA Level Margin Rate Margin Facility Fee ---------------- ------- ------ ----------- -------------- < 1.00 I(*) 175 50 25.0 =/> 1.00 < 1.50 II(*) 200 75 25.0 =/> 1.50 < 2.00 III 225 100 37.5 =/> 2.00 < 2.50 IV 250 125 50.0 =/> 2.50 or < 0 V 300 150 75.0 (*)Pricing Level I and Level II options shall not be available for the period from the date of effectiveness of the Modification to April 1, 2002. Borrower shall be eligible for Level I pricing when its ratio of Funded Debt to EBITDA is less than 1.00:1.00; for Level II pricing when such ratio is equal to or greater than 1.00:1.00, but less than 1.50:1.00; for Level III pricing when such ratio is equal to or greater than 1.50:1.00, but less than 2.00:1.00; for Level IV pricing when such ratio is equal to or greater than 2.00:1.00, but less than 2.50:1.00; for Level V pricing when such ratio is equal to or greater than 2.50:1.00 or is less than 0. This ratio shall be measured quarterly for the preceding four-quarter period. The pricing will be set at Level III until receipt of the Borrower's next financial covenant compliance reflecting the Funded Debt to EBITDA ratio."

Examples of Line of Credit Pricing Grid in a sentence

  • The margins above the Reference Rate or LIBOR, as applicable (the "Interest Rate Margins"), at which the outstanding principal balances of the Line of Credit and each of the Term Loans bear interest from time to time shall be adjusted in accordance with the Line of Credit Pricing Grid and the Term Loan Pricing Grid, respectively.

  • Commencing on the Closing Date and continuing through the Line Maturity Date, Borrower shall pay to Agent, for the ratable benefit of Lenders, a per annum facility fee (the "Line of Credit Facility Fee") calculated based on the average undisbursed portion of the Line of Credit at the applicable Line of Credit Facility Fee described in the Line of Credit Pricing Grid.

  • The rate set forth above shall be adjusted in accordance with the Line of Credit Pricing Grid as of the first day of the month following receipt of Borrower's financial statements as required under this Agreement.

  • The margins above the Reference Rate or LIBOR, as applicable (the 'Interest Rate Margins'), at which the outstanding principal balances of the Line of Credit and each of the Term Loans bear interest from time to time shall be adjusted in accordance with the Line of Credit Pricing Grid and the Term Loan Pricing Grid, respectively.

Related to Line of Credit Pricing Grid

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Revolving Credit Limit has the meaning set forth in the Schedule.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Letter of Credit Limit means $5,000,000.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Committed Revolving Line means a credit extension of up to Two Million Dollars ($2,000,000).

  • Revolving Loan Agreement means that certain Amended and Restated Loan and Security Agreement dated as of the date hereof by and among the Borrower, the lenders from time to time party thereto and the Revolving Loan Administrative Agent.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Revolving Facility means the facility under which Borrower may request Bank to issue Advances, as specified in Section 2.1(a) hereof.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Revolving Credit Agreement means that certain Revolving Credit Agreement dated as of August 30, 2004 between the Company, certain of its Subsidiaries and the banks and financial institutions listed therein, as such agreement may be replaced, amended, supplemented or otherwise modified from time to time.