Margin Reset Date means each January 1, April 1, July 1 and October 1 of each year commencing on July 1, 2003.
Margin Reset Date means any day upon which a Compliance Certificate is delivered to the Facility Agent in accordance with Clause 18.3 (Compliance Certificate) which shows that there has been a change in the Net Debt/EBITDA Ratio (as calculated in accordance with Clause 19 (Financial covenants)), which would have an effect on the level of the Margin as calculated in accordance with sub-paragraph (c) below; and
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); and
Examples of Margin Reset Date in a sentence
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.
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.
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.
On each Margin Reset Date, the Facility Agent shall determine the Margin (the "relevant Margin") which will apply to all Interest Periods commencing during the Margin Period commencing on that Margin Reset Date.
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.
More Definitions of Margin Reset Date
Margin Reset Date means each January 1, April 1, August 15 and October 1 of each year, commencing on January 1, 2008.
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. For the period from (and including) the date of this Agreement to (but excluding) the first Margin Reset Date, the Margin shall be 0.45 per cent. per annum. On each Margin Reset Date, the Facility Agent shall determine the Margin (the "relevant Margin") which will apply to all Interest Periods commencing during the Margin Period commencing on that Margin Reset Date. (d) (i) If the Parent's long term unsecured and unsubordinated debt has assigned to it a credit rating by only one Rating Agency, the relevant Margin shall be the percentage rate per annum shown alongside that credit rating under the heading of the relevant Rating Agency in the table below; (ii) if the Parent's long term unsecured and unsubordinated debt has assigned to it a credit rating by both Rating Agencies and the level of both credit ratings is the same, the relevant Margin shall be the percentage rate per annum shown alongside those credit ratings in the table below; (iii) if the Parent's long term unsecured and unsubordinated debt has assigned to it a credit rating by both Rating Agencies but the level of both credit ratings is not the same, then: (A) if the credit ratings are different by only one level, the lower level will apply; (B) if the credit ratings are different by more than one level, then either: (I) the average credit rating will apply; or (II) if the average credit rating falls between two levels, the higher level will apply, and for the purposes of this clause, the "level" of a credit rating shall be that shown as such alongside that credit rating in the table below, with level 1 being the highest and level 4 being the lowest. 1 A-or higher A3 or higher 0.425 2 BBB+ Baa1 0.45 3 BBB Baa2 0.50 4 BBB - or lower Baa3 or lower 0.75
Margin Reset Date means the earlier of:
Margin Reset Date means (a) September 2, 2000, and (b) thereafter, each January 1, April 1, July 1 and October 1 of each year commencing on January 1, 2001. "Margin Stock" has the meaning assigned to that term in Regulation U of the Board of Governors of the Federal Reserve System as in effect from time to time. "Marquette Gaming Facilities" means the Gaming Facilities owned, leased, operated or used by Company or its Restricted Subsidiaries in Marquette, Iowa, including the vessel Mxxx Xxxxxxxxx having Official No. 950558, built in 1989 at Freeport, Florida. "Material Adverse Effect" means (i) a material adverse effect upon the business, operations, properties, assets, condition (financial or otherwise) or prospects of Company and its Subsidiaries taken as a whole or (ii) the impairment of the ability of Company and its Subsidiaries taken as a whole to perform, or of Administrative Agent or Lenders to enforce, the Obligations. "Material Contract" means any contract or other arrangement to which Company or any of its Subsidiaries is a party (other than the Loan Documents) for which breach, nonperformance, cancellation or failure to renew could reasonably be expected to have a Material Adverse Effect. "Material Leasehold Property" means a Leasehold Property reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries. "Material Subsidiary" means each Subsidiary of Company now existing or hereafter acquired or formed by Company which, on a consolidated basis for such Subsidiary and its Subsidiaries, (i) for the most recent Fiscal Year accounted for more than 2.5% of the consolidated revenues of Company and its Subsidiaries or (ii) as at the end of such Fiscal Year, was the owner of more than 2.5% of the consolidated assets of Company and its Subsidiaries. "Merger" means the merger of Merger Sub with and into Lady Luck with Lady Luck as the surviving corporation. "Merger Agreement" means that certain Agreement and Plan of Merger dated as of October 5, 1999 among Company, Merger Sub and Lady Luck, as such agreement may be amended from time to time to the extent permitted under subsection 7.15A. "Merger Sub" means Isle Merger Corp., a Delaware corporation and wholly-owned Subsidiary of Company. "Mxxx Xxxxxxxxx Credit Agreement" means that certain $16,300,000 Credit Agreement dated as of October 5, 1999 between Gamblers Supply Management Company, a South Dakota corporation, as...
Margin Reset Date means, for each calendar year after 2010, the first day of the Interest Period falling immediately after the date of such calendar year on which the Borrower advises the Bank of the ratio of Net Debt to Operating EBITDA of the Ultimate Parent and its Subsidiaries for the Financial Year of the Ultimate Parent and its Subsidiaries ending on the last day of the calendar year before.
Margin Reset Date means the date the Borrower delivers, or such date as the Borrower should have delivered, a valuation of the Market Value of the Vessels to the Agent
Margin Reset Date means the third Business Day after receipt by the Facility Agent of any Compliance Certificate.