Prime Margin means one of the following percentages, depending on the Leverage Ratio, as determined by Agent as of the Computation Date for the immediately preceding fiscal quarter:
Prime Margin means the applicable interest rate increment shown on the Pricing Grid Rider to be added for purposes of calculating the Alternate Base Rate.
Examples of Prime Margin in a sentence
The Adjusted Prime Rate shall be adjusted automatically on and as of the effective date of any change in the Prime Rate and/or the Applicable Prime Margin.
Adjusted Prime Rate shall mean the Prime Rate plus the Applicable Prime Margin.
The Borrower shall pay interest in Cdn Dollars on its Prime Loans outstanding from time to time at a rate per annum equal to the aggregate of the Prime Rate and the Applicable Pricing Margin for the Prime Margin in effect from time to time.
Prime Margin Loans requested by the Borrower, other than those resulting from the conversion of a Libor Loan, shall not be less than $10,000.00.
Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.8(e) shall bear interest at the interest rate then and thereafter applicable to Prime Margin Loans.
More Definitions of Prime Margin
Prime Margin means one percent (1%).
Prime Margin is currently negative seventy-five (-75) basis points and shall be subject to adjustment on each March 1 for application to the period commencing on such date in accordance with the Borrower’s ratio of Senior Bank Debt to EBITDA for the period commencing on the first day of the Borrower’s then-current fiscal year and ending on the last day of the second quarter of such fiscal year and on each September 1 for application to the period commencing on such date in accordance with the Borrower’s ratio of Senior Bank Debt to EBITDA for the period commencing on the first day of the Borrower’s immediately preceding fiscal year and ending on the last day of such fiscal year, as follows: if the Borrower’s ratio of Senior Bank Debt to EBITDA is 1.50 to 1.0 or greater, the Prime Margin shall be negative fifty (-50) basis points; if the Borrower’s ratio of Senior Bank Debt to EBITDA is less than 1.50 to 1.0 but equal to or greater than 1.00 to 1.0, the Prime Margin shall be negative seventy-five (-75) basis points; and if the Borrower’s ratio of Senior Bank Debt to EBITDA is less than 1.00 to 1.0, the Prime Margin shall be negative one hundred (-100) basis points. Such adjustments shall be based upon the Borrower’s ratio of Senior Bank Debt to EBITDA as determined from the financial statements delivered to the Bank pursuant to Section 2(b)(i) or (ii) hereof, as applicable. The foregoing provisions are not intended to, and shall not be construed to, authorize any violation by the Borrower of any Financial Covenant or constitute a waiver thereof or any commitment by the Bank to waive any violation by the Borrower of any Financial Covenant.
Prime Margin as used herein shall mean (i) zero, in respect of the Revolving Loan, and (ii) 25 basis points, in respect of the Term Loan.
Prime Margin with respect to any Prime Rate Loan, the applicable rate per annum set forth below under the caption “Prime Option”, based on Borrower’s Leverage Ratio as of the end of each fiscal quarter as set forth in Borrower’s annual or quarterly financial statements with each change in the Prime Margin resulting from a change in the Leverage Ratio being effective for the period commencing subsequent to the delivery of such consolidated financial statements indicating such change and ending on the date the immediately preceding the effective date of the next such change (e. g. a change based on financial statements for the quarter ending June 30th will be effective for the quarter commencing October 1st): Index Prime Option Category Leverage Ratio Margin I <1.50x -0- II ≥1.50x <2.00x 25 bps III ≥2.00x<2.25x 50 bps IV ≥2.25x< 2.50x 75 bps
Prime Margin means one of the following percentages, depending on the Leverage Ratio, as determined by Agent as of the Computation Date for the immediately preceding fiscal quarter: Leverage Ratio Prime Margin Greater than or equal to 5.0:1 2.25% Greater than or equal to 4.5:1, but less than 5.0:1 2.00% Greater than or equal to 4.0:1, but less than 4.5:1 1.75% Less than 4.0:1 1.50%
Prime Margin means in respect of a Prime Loan or portion thereof outstanding:
Prime Margin has the meaning specified in Section 6.2.