Revolving Applicable Margin means, the margin specified below in the Pricing Grid based on Available Credit as set forth below.
Revolving Applicable Margin for any day, the applicable rate per annum set forth in the Pricing Grid for Revolving Loans.
Revolving Applicable Margin means initially (1) 1.75% in the case of ABR loans and (2) 2.75% in the case of Adjusted LIBOR loans, and following delivery of the quarterly financial statements for the first full fiscal quarter ended after the Closing Date, the percentages per annum determined in accordance with the pricing grid set forth below, based on Average Historical Excess Availability for the most recent fiscal quarter ending on the date prior to the first day of each fiscal quarter of the Lead Borrower; provided, that following the delivery by the Lead Borrower of a compliance certificate demonstrating a Fixed Charge Coverage Ratio (calculated using an unadjusted EBITDA) of at least 1.0 to 1.0, each percentage in the grid below shall be immediately, automatically and permanently reduced by 0.25%: Pricing Level Average Historical Excess Availability Applicable Margin for Adjusted LIBOR loans Applicable Margin for ABR loans I Greater than or equal to 67% of the Line Cap 2.50% 1.50% II Less than 67% of the Line Cap but greater than or equal to 33% of the Line Cap 2.75% 1.75% III Less than 33% of the Line Cap 3.00% 2.00% With respect to the FILO Loans: At the option of the Lead Borrower, Adjusted LIBOR plus the FILO Applicable Margin or ABR plus the FILO Applicable Margin (as defined below). “FILO Applicable Margin” means (1) 7.50% in the case of ABR loans and (2) 8.50% in the case of Adjusted LIBOR loans. With respect to all Loans: The interest period for the Revolving Loans (for Adjusted LIBOR borrowings) shall be one (1) month, two (2) months, three (3) months, six (6) months or, if agreed by all Revolving Lenders, twelve (12) months. The interest period for the FILO Loans (for Adjusted LIBOR borrowings) shall be one (1) month, two (2) months, three (3) months, or, if agreed by all FILO Lenders, six (6) months or twelve (12) months. Interest on the Revolving Loans or FILO Loans maintained as ABR loans shall be payable quarterly in arrears and upon prepayment. Interest on the Revolving Loans or FILO Loans maintained as Adjusted LIBOR loans shall be paid on the last day of the applicable interest period and upon prepayment, but no less frequently than three (3) months in arrears.
Examples of Revolving Applicable Margin in a sentence
Lead Borrower shall pay a fee on all outstanding letters of credit at a per annum rate equal to the Revolving Applicable Margin then in effect with respect to Adjusted LIBOR loans on the face amount of each such letter of credit.
When determining the Revolving Applicable Margin, any Term Loan Applicable Margin, and compliance by the Parent or the Borrower with any financial covenant contained in any of the Loan Documents (a) only the Ownership Share of the Parent of the financial attributes of a Subsidiary that is not a Wholly Owned Subsidiary shall be included and (b) the Parent’s Ownership Share of the Borrower shall be deemed to be 100.0%.
Swingline Loans shall bear interest at a per annum rate equal to the Base Rate as in effect from time to time plus the Revolving Applicable Margin for Base Rate Loans that are Revolving Loans.
More Definitions of Revolving Applicable Margin
Revolving Applicable Margin means (a) prior to the Revolving Adjustment Date (as defined below) an amount equal to three percent (3%) for Revolving Advances consisting of Domestic Rate Loans and an amount equal to four percent (4%) for Revolving Advances consisting of Eurodollar Rate Loans, and (b) on and after the first Revolving Adjustment Date, (i) for the fiscal quarters April 30, 2016, July 31, 2016, October 31, 2016 and January 31, 2017, upon receipt of the quarterly financial statements of Borrowers on a Consolidated Basis and related Compliance Certificate required under Section 9.8 for the most recently ended fiscal quarter and (ii) thereafter, upon receipt of the quarterly financial statements of Borrowers on a Consolidated Basis and related Compliance Certificate required under Section 9.8 for the fiscal quarters ending January 31 and July 31 of each year (such first day of the applicable fiscal month after the quarterly financial statements are due under Section 9.8, a “Revolving Adjustment Date”), the Revolving Applicable Margin for each type of Revolving Advance shall be adjusted, if necessary, to the applicable percent per annum set forth in the pricing table below corresponding to the TTM EBITDA for the trailing four quarter period ending on the last day of the most recently completed fiscal quarter prior to the applicable Revolving Adjustment Date: 2 TTM EBITDA APPLICABLE MARGINS FOR DOMESTIC RATE LOANS APPLICABLE MARGINS FOR EURODOLLAR RATE LOANS Revolving AdvancesRevolving AdvancesGreater than or equal to $20,000,0002.0%3.0%Greater than or equal to $15,000,000 but less than $20,000,0002.5%3.5%Greater than or equal to $9,000,000 but less than $15,000,0003.0%4.0%Less than $9,000,0003.5%4.5% If Borrowers shall fail to deliver the financial statements, certificates and/or other information required under Section 9.8 by the date required pursuant to such section, each Revolving Applicable Margin shall be conclusively presumed to equal the highest Revolving Applicable Margin specified in the pricing table set forth above until the date of delivery of such financial statements, certificates and/or other information, at which time the rate will be adjusted based upon the TTM EBITDA reflected in such statements. Notwithstanding anything to the contrary contained herein, Agent shall have the right upon the occurrence of any Event of Default and during the continuance thereof, to increase each Revolving Applicable Margin to equal the highest Revolving Applicable Margin specif...
Revolving Applicable Margin means (a) until the first Initial Revolving Adjustment Date, an amount equal to the amount set forth in Level III in the chart below, (b) upon receipt of the quarterly financial statements of Borrowers on a Consolidated Basis and related Compliance Certificate required under Section 9.8 for the fiscal quarter ending on or about October 31, 2020 the
Revolving Applicable Margin shall have the meaning given to that term in the Fee Letter.
Revolving Applicable Margin means, with respect to a particular Type of Revolving Loans, the percentage rate set forth below corresponding to the Leverage Ratio as determined in accordance with Section 10.1.(a): Level Leverage Ratio Revolving Applicable Margin for Revolving Loans that are LIBOR Loans Revolving Applicable Margin for Revolving Loans that are Base Rate Loans 1 Less than 4.00 to 1.00 1.55 % 0.55 % 2 Greater than or equal to 4.00 to 1.00 but less than 4.50 to 1.00 1.60 % 0.60 % 3 Greater than or equal to 4.50 to 1.00 but less than 5.00 to 1.00 1.65 % 0.65 % 4 Greater than or equal to 5.00 to 1.00 but less than 6.00 to 1.00 1.95 % 0.95 % 5 Greater than or equal to 6.00 to 1.00 2.30 % 1.30 %
Revolving Applicable Margin means, for any day, the applicable rate per annum set forth in the Pricing Grid for Revolving Loans; provided that prior to the first Revolving Adjustment Date occurring after the first fiscal quarter following the Closing Date, such applicable rate shall be (a) in the case of ABR Loans, 1.75% and (b) in the case of Eurodollar Loans, 2.75%.
Revolving Applicable Margin. The rate per annum equal to (a) 3.50%, if the Ratio of Senior Debt to TTM EBITDA is greater than 2.50; (b) 3.25%, if the Ratio of Senior Debt to TTM EBITDA is equal to or less than 2.50 and greater than 2.00; (c) 3.00% if the Ratio of Senior Debt to TTM EBITDA is equal to or less than 2.00 and greater than 1.00; and (d) 2.75%, if the Ratio of Senior Debt to TTM EBITDA is equal to or less than 1.00; provided, however, that from the date hereof until receipt of the financial statements for the period ended March 31, 2006, the Revolving Applicable Margin shall be based upon the Senior Debt to TTM EBITDA ratio as of November 30, 2005. Notwithstanding the foregoing, in the event that the Borrower fails to timely deliver the financial statements and Compliance Certificate as required under Section 8.1, then the Revolving Applicable Margin shall be 3.50% for the period from the date upon which they were to be delivered until the next Adjustment Date. The Revolving Applicable Margin shall be determined by the Bank based on the Ratio of Senior Debt to TTM EBITDA calculated from the financial statements for the quarter just ended prior to the relevant Adjustment Date.
Revolving Applicable Margin means, for any day, the applicable rate per annum set forth in the Pricing Grid.