Examples of Prime Applicable Margin in a sentence
Any change in the rate of interest on the Revolving Credit Notes due to a change in the Prime Rate or a change in the Prime Applicable Margin shall take effect as of the date of such change in the Prime Rate or Prime Applicable Margin, as applicable.
Any change in the rate of interest on the Term Loan Notes due to a change in the Prime Rate or a change in the Prime Applicable Margin shall take effect as of the date of such change in the Prime Rate or the Prime Applicable Margin.
If a rating agency upgrade results in a decrease in the Prime Applicable Margin or the LIBOR Applicable Margin and if such decrease is reversed and the affected Applicable Margin is restored with ninety (90) days thereafter, then Borrower shall pay at the time the next interest payment is due an additional amount equal to interest accrued from time to time during the period of upgrade at the differential between such Applicable Margins.
The Prime Applicable Margin and the LIBOR Applicable Margin shall each be determined on the basis of the Borrower's Funded Debt to EBITDA Ratio, as calculated based on the Borrower's consolidated financial statements for its most recent fiscal year or quarter.
Upon the occurrence and during the continuance of a Default or an Event of Default the Prime Applicable Margin and the LIBOR Applicable Margin may, as a result of changes in the Borrower's Leverage Ratio, increase but will not decrease.
Sums advanced under the Line of Credit shall bear interest, at the Borrower's option (subject to the terms and conditions set forth in Article III hereof), at (a) the variable per annum rate equal to the Prime Rate (as hereinafter defined) plus the Prime Applicable Margin (as hereinafter defined), or (b) the per annum rate equal to the one (1), two (2), three (3) or six (6) month LIBOR (as hereinafter defined) plus the LIBOR Applicable Margin (as hereinafter defined).
Sums advanced under the Acquisition Line of Credit shall bear interest, at the Borrower's option (subject to the terms and conditions set forth in Article II hereof), at (a) the variable per annum rate <PAGE> 2 equal to the Prime Rate (as hereinafter defined) plus the Prime Applicable Margin (as hereinafter defined), or (b) the per annum rate equal to the one (1), two (2), three (3) or six (6) month LIBOR (as hereinafter defined) plus the LIBOR Applicable Margin (as hereinafter defined).
The Prime Applicable Margin and the ----------------- LIBOR Applicable Margin shall each be determined on the basis of the Borrower's Funded Debt to EBITDA Ratio, as calculated based on the Borrower's consolidated financial statements for its most recent fiscal year or quarter.
The Prime Applicable Margin and the LIBOR Applicable Margin to be used in calculating the interest rate applicable to different types of Advances shall vary from time to time in accordance with the ratings for Borrower's or General Partner's long-term, senior unsecured debt as follows: Rating Period: * The letter categories used above are established by reference to S&P and Moody's categories, respectively.
Any change in the rate of interest on the Revolving Credit Note due to a change in the Prime Rate or a change in the Prime Applicable Margin shall take effect as of the date of such change in the Prime Rate or Prime Applicable Margin, as applicable.