Margin Adjustment has the meaning set forth in the Schedule 1.
Margin Adjustment means, (a) as of any date of determination when the Applicable Leverage Ratio is in excess of 3.50:1 but equal to or less than 4.00:1, an incremental interest margin of 0.075% per annum to be added to the Euro-Dollar Margin in determining the rate applicable to Euro Dollar Loans, (b) as of any date of determination when the Applicable Leverage Ratio is in excess of 4.00:1 but equal to or less than 4.75:1, an incremental interest margin of 0.150% per annum to be added to the Euro-Dollar Margin in determining the rate applicable to Euro-Dollar Loans, (c) as of any date of determination when the Applicable Leverage Ratio is in excess of 4.75:1, an incremental interest margin of 0.225% per annum to be added to the Euro-Dollar Margin in determining the rate applicable to Euro-Dollar Loans, and (d) as of any date of determination when the Applicable Leverage Ratio is less than 2.00:1, a deduction of 0.075% per annum to be subtracted from the Euro-Dollar Margin in determining the rate applicable to Euro-Dollar Loans.
Margin Adjustment has the meaning set forth in the Pricing Schedule.
Examples of Margin Adjustment in a sentence
An amount payable pursuant to this Section 5.09 (b) is a “Margin Adjustment Payment.” Northwest shall add in or setoff, as appropriate, any Margin Adjustment Payment in the next wire transfer due to Pinnacle.
Northwest shall have the right to audit the calculation of the Total Operating Cost, the Margin and the Margin Adjustment Payment, and shall report any disputes to Pinnacle.
For the avoidance of doubt, any adjustment to the Applicable Margin due to a Sustainability Margin Adjustment or any adjustment to the Facility Fee Rate due to a Sustainability Facility Fee Adjustment in any calendar year shall not be cumulative year-over-year.
An amount payable pursuant to this Section 5.12(b) is a “Margin Adjustment Payment.” Northwest shall add in or setoff, as appropriate, any Margin Adjustment Payment in the next wire transfer due to Pinnacle.
It is further understood and agreed that the Applicable Margin will never be reduced by more than [Redacted] or increased by more than [Redacted] and the Facility Fee Rate will never be reduced or increased by more than [Redacted], in each case pursuant to the Sustainability Margin Adjustment or the Sustainability Facility Fee Adjustment, as applicable, during any calendar year (the “Maximum Adjustment”).
More Definitions of Margin Adjustment
Margin Adjustment means the margin specified in the relevant Final Terms. “Rating” means the rating of the Casino’s senior unsecured long-term debt.
Margin Adjustment means, (a) as of any date of determination when the Applicable Leverage Ratio is in excess of 3.50:1 but equal to or less than 4.00:1, an incremental interest margin of 0.075% per annum to be added to the Euro-Dollar Margin in determining the rate applicable to Euro-Dollar Loans, (b) as of any date of determination when the Applicable Leverage Ratio is in excess of 4.00:1, an incremental interest margin of 0.150% per annum to be added to the Euro-Dollar Margin in determining the rate applicable to Euro-Dollar Loans, and (c) as of any date of determination when the Applicable Leverage Ratio is less than 2.00:1, a deduction of 0.075% per annum to be subtracted from the Euro-Dollar Margin in determining the rate applicable to Euro-Dollar Loans.
Margin Adjustment means 1.25 per cent per annum. “Interest Ratchet” means the following rates of interest:
Margin Adjustment means, positive or negative 2.5 basis points, as applicable. “Non-Emitting Generation Capacity” means, with respect to the Borrower, the Megawatts of owned and firm PPA (Purchased Power Agreement) generation capacity based on generation from nuclear, biomass/biogas, geothermal, hydroelectric, solar and wind generation sources, including Demand Side Management and battery storage. “Non-Emitting Generation Capacity Percentage” means, expressed as a percentage, the Non-Emitting Generation Capacity divided by Total Owned and Firm PPA Generation Capacity, as certified by the Borrower. “Non-Emitting Generation Capacity Target” means, with respect to any calendar year, the Non-Emitting Generation Capacity Target for such calendar year as set forth in the Sustainability Table. “Non-Emitting Generation Capacity Threshold” means, with respect to any calendar year, the Non-Emitting Generation Capacity Threshold for such calendar year as set forth in the Sustainability Table. “Pricing Certificate” means a certificate signed by a financial officer of the Borrower substantially in the form of Exhibit G to the Agreement setting forth (with computations in reasonable detail in respect thereof) the KPI Metrics for the immediately preceding calendar year which shall be based on and consistent with the KPI Metrics reported in the Annual KPI Report for such year, together with the resulting KPI Adjustment to apply from the KPISustainability Pricing Adjustment Date of the then current calendar year. “Significant KPI Event” means that (i) the Non-Emitting Generation Capacity Percentage for any calendar year (as set out in the Pricing Certificate and the Annual KPI Report), is (x) less than the Non-Emitting Generation Capacity Threshold for such calendar year by 2.5% or more or (y) greater than the Non-Emitting Generation Capacity Target for such calendar year by 2.5% or more, or (ii) the DART Rate for any calendar year (as set out in the Pricing Certificate and the Annual KPI Report), is (x) less than the DART Rate Target for such calendar year by 10.0% or more or (y) greater than the DART Rate Threshold for such calendar year by 10.0% or more. “Sustainability Table” means the table set out on Exhibit A to the Pricing Schedule. “Sustainability Targets” means each of the DART Rate Target and the Non-Emitting Generation Capacity Target. “Sustainability Thresholds” means each of the DART Rate Threshold and the Non-Emitting Generation Capacity Threshold. “Total Owned and Firm PPA G...
Margin Adjustment means a percentage which initially shall be 0% and which shall be adjusted from time to time as follows:
Margin Adjustment means either (i) the number of basis points (expressed as a percentage) equal to the product of five basis points per annum (.05%) multiplied by the number of long-term debt rating grades (if any) of S&P by which the Lessee Credit Rating exceeds BB (such number to include the Lessee Credit Rating but not BB) or (ii) the number of basis points (expressed as a percentage) equal to the sum of (A) the product of ten basis points per annum (.10%) multiplied by the number of long-term debt rating grades of S&P (if any) by which BB exceeds the higher of the Lessee Credit Rating or B- (such number to include BB but not such lower rating grade) plus (B) the product of twenty basis points per annum (.20%) multiplied by the number of long-term debt rating grades (if any) of S&P by which B- exceeds the Lessee Credit Rating (such number to include B- but not such lower rating grade).
Margin Adjustment in Section 1(a) hereof.