Margin Reset Date definition
Examples of Margin Reset Date in a sentence
Lender will endeavor to notify Borrower of the Applicable Margin that will be effective on the Applicable Margin Reset Date within thirty (30) days of each Applicable Margin Reset Date, but the Applicable Margin shall apply as of such Applicable Margin Reset Date whether such notice is given by Lender or received by Borrower.
The Applicable Margin used to determine the Base Rate on the Applicable Margin Reset Date shall be determined by Lender in its sole discretion using its then applicable standards for establishing an interest rate spread.
Adjustment of Margin In this Clause 10.2: "Margin Reset Date" means any day upon which there is a change in the credit rating assigned to the Parent's long term unsecured and unsubordinated debt by either or both of the Rating Agencies, as notified to the Facility Agent in accordance with Clause 19.3 (Information - miscellaneous); "Margin Period" means the period from (and including) a Margin Reset Date to (but excluding) the next Margin Reset Date.
If the Borrower and the Agent agree on a new Margin that shall be the Margin with effect from the Margin Reset Date throughout the remainder of the Security Period.
If the Borrower and the Agent fail to reach agreement on the new Margin to apply with effect from the Margin Reset Date, the Borrower shall prepay the Loan on the Margin Reset Date if requested to do so by the Agent.