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 Loan Rate applicable to each advance may change due to the quarterly determination of the LIBOR Margin and Prime Margin, in accordance with the definitions thereof and based on the Cash Flow Leverage Ratio as reflected in the then most recent Compliance Certificate.
Adjustments, if any, to the LIBOR Margin and/or Prime Margin shall be effective on the earlier of (i) the date the Compliance Certificate is due pursuant to Section 6.1(e) below or (ii) the day after Agent receives the Compliance Certificate.
More Definitions of Prime Margin
Prime Margin means one percent (1%).
Prime Margin is currently negative fifty (-50) 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 means, with respect to each Prime Loan at any date, the applicable percentage per annum set forth below based on the Status in effect on such date (it being understood and agreed that the Prime Margin shall be adjusted on the date of any change in Status): Status Prime Margin Level I Status 2.5% Level II Status 2.0% Level III Status 1.5% Level IV Status 1.0%
Prime Margin opposite the applicable ratio: Consolidated Senior Debt Libor Margin Prime Margin to Consolidated EBITDA (360 day basis) (360 day basis) ----------------------- --------------- --------------- Equal to or less than 1.50% 0% 3.00:1.00 Greater than 3.00:1.00 but 1.75% 0% equal to or less than 3.25:1.00 Greater than 3.25:1.00 but 2.00% .25% equal to or less than 3.50:1.00 Greater than 3.50:1.00 but 2.25% .50% equal to or less than 3.75:1.00 Greater than 3.75:1.00 2.50% .75% Notwithstanding the foregoing, during the period commencing on and including the Closing Date and ending on the day immediately preceding the date the Applicable Margin is reset in accordance with the next sentence, the Libor Margin shall be 2.25% and the Prime Margin shall be .50%. The Applicable Margin will be reset with respect to each Loan on each date which is five Business Days following the date of receipt by the Agent of the financial statements referred to in Section 6.03(a) and Section 6.03(b) together with a certificate of the Chief Financial Officer of the Company certifying the ratio of Consolidated Senior Debt to Consolidated EBITDA and setting forth the calculation thereof in detail for the then most recently completed fiscal quarter of the Company. If any such financial statement and certificate are not received by the Agent within the time period required pursuant to Section 6.03(a) or Section 6.03(b), as the case may be, the Applicable Margin will be reset, based on a ratio of Consolidated Senior Debt to Consolidated EBITDA of greater than 3.75:1.00 from the date such financial statement and certificate were due until the date which is five Business Days following the receipt by the Agent of such financial statements and certificate, provided, however, that the Lenders shall not in any way be deemed to have waived any Default or Event of Default, including without limitation, an Event of Default resulting from the failure of the Company to comply with Section 7.13 of this Agreement, or any rights or remedies hereunder or under any other Loan Document in connection with the failure of the Agent to receive such financial statements and certificate. During the occurrence and continuance of a Default or an Event of Default, no downward adjustment, and only upward adjustments, shall be made to the Libor Margin and Prime Margin; provided, however, any downward adjustment shall become effective on the date, if any, on which such Default or Event of Default shall cease to be cont...
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 set forth in Section 2.1, "PAYMENT OF INTEREST PRIME COMMERCIAL RATE," of the 2000 Loan Agreement are hereby amended to recite as follows:
Prime Margin means one percent (1%) with respect to any Revolving Credit Advance and one and one-half percent (1-1/2%) with respect to amounts outstanding under the Term Loan.