Term Loan Applicable Margin means a percentage based upon Borrowers’ ratio of Adjusted Funded Debt to EBITDA, as follows: Less than 0.5 to 1.0 2.25 % Equal to or greater than 0.5 to 1.0, but less than 1.0 to 1.0 2.5 % Equal to or greater than 1.0 to 1.0, but less than 1.5 to 1.0 2.75 % Equal to or greater than 1.5 to 1.0 3.0 %
Term Loan Applicable Margin means (a) on and after the Closing Date and at all times prior to the Fifth Amendment Effective Date, (i) in the case of all or any portion of the Term Loan comprising an ABR Borrowing, 1.25% per annum and (ii) in the case of all or any portion of the Term Loan comprising a Eurodollar Borrowing, 3.25% per annum; and (b) at all times on and after the Fifth Amendment Effective Date, (i) in the case of all or any portion of the Term Loan comprising an ABR Borrowing, 1.75% per annum and (ii) in the case of all or any portion of the Term Loan comprising a Eurodollar Borrowing, 3.75% per annum.
Term Loan Applicable Margin means the percentages set forth in the pricing grid below: Term Loan Applicable Margin for LIBO Rate Loans Term Loan Applicable Margin for Base Rate Loans
Examples of Term Loan Applicable Margin in a sentence
The Term Loan Applicable Margin shall not be adjusted based upon such ratio, if at all, until the first (1st) day of the first (1st) month following the delivery by Parent Company to the Agent of the Compliance Certificate after the end of a calendar quarter.
Each Initial Term Loan that is an ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Initial Term Loan Applicable Margin.
Such term shall have the meaning established within the definition of Revolving Credit Applicable Margin or Term Loan Applicable Margin, as applicable.
Each Initial Term Loan that is a Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Initial Term Loan Applicable Margin.
Until the Quarter-End following the Closing, the Revolving Loan Applicable Margin and the Term Loan Applicable Margin shall be determined by reference to a Compliance Certificate delivered by Borrowers at Closing.
More Definitions of Term Loan Applicable Margin
Term Loan Applicable Margin means, with respect to any Prime Rate Advance or Eurodollar Advance, as the case may be, under the Term Loan, the following amounts based on the ratio of consolidated Funded Debt to consolidated EBITDA of the Company and its Subsidiaries as of the end of the most recent fiscal quarter of the Company for which
Term Loan Applicable Margin means with respect to any Prime Rate Advance or Eurodollar Advance, as the case may be, the rate per annum set forth below opposite the applicable Funded Debt to EBITDA Ratio. Funded Debt to EBITDA Ratio is defined in the Credit Agreement.
Term Loan Applicable Margin three-quarters of one percent (.75%).”
Term Loan Applicable Margin means, as of any date of determination, a percentage per annum determined by reference to the Credit Rating Level as set forth below: Credit Rating Xxxxx 0 0.05 % 1.05 % Credit Rating Xxxxx 0 0.15 % 1.15 % Credit Rating Xxxxx 0 0.40 % 1.40 % Credit Rating Xxxxx 0 0.65 % 1.65 % Credit Rating Xxxxx 0 1.15 % 2.15 % The Term Loan Applicable Margin for each Base Rate Advance that is a Term Advance shall be determined by reference to the Credit Rating Level in effect from time to time, and the Term Loan Applicable Margin for any Interest Period for all Eurodollar Rate Advances that are a Term Advance comprising part of the same Borrowing shall be determined by reference to the Credit Rating Level in effect on the first day of such Interest Period; provided, however that no change in the Term Loan Applicable Margin resulting from the application of the Credit Rating Levels or a change in the Credit Rating Level shall be effective until three Business Days after the date on which the Administrative Agent receives written notice of the application of the Credit Rating Levels or a change in such Credit Rating Level.”
Term Loan Applicable Margin for each Type of Term Loan, the rate per annum set forth under the relevant column heading below:
Term Loan Applicable Margin means, with respect to a particular Type of Term Loans made pursuant to this Supplement, the percentage rate set forth below corresponding to the Leverage Ratio as determined in accordance with Section 10.1.(a): Level Leverage Ratio Term Loan Applicable Margin for Term Loans that are LIBOR Loans Term Loan Applicable Margin for Term Loans that are Base Rate Loans 1 Less than 4.00 to 1.00 1.80% 0.80% 2 Greater than or equal to 4.00 to 1.00 but less than 4.50 to 1.00 1.85% 0.85% 3 Greater than or equal to 4.50 to 1.00 but less than 5.00 to 1.00 1.90% 0.90% 4 Greater than or equal to 5.00 to 1.00 but less than 6.00 to 1.00 2.20% 1.20% 5 Greater than or equal to 6.00 to 1.00 2.55% 1.55% The Term Loan Applicable Margins shall be determined by the Administrative Agent from time to time, based on the Leverage Ratio as set forth in the Compliance Certificate most recently delivered by the Borrower pursuant to Section 9.3. Any adjustment to the Term Loan Applicable Margins shall be effective as of the first day of the calendar month immediately following the month during which the Borrower delivers to the Administrative Agent the applicable Compliance Certificate pursuant to Section 9.3. If the Borrower fails to deliver a Compliance Certificate pursuant to Section 9.3., the Term Loan Applicable Margins shall equal the percentages corresponding to Level 5 until the first day of the calendar month immediately following the month that the required Compliance Certificate is delivered. Notwithstanding the foregoing, for the period from the Supplement Effective Date through but excluding the date on which the Administrative Agent first determines the Term Loan Applicable Margins as set forth above, the Term Loan Applicable Margins shall be determined based on Level 1. Thereafter, the Term Loan Applicable Margins shall be adjusted from time to time as set forth in this definition. The provisions of this definition shall be subject to Section 2.4.(c). During the Surge Period, any Term Loan Applicable Margin determined as provided above shall be increased by 0.35%.
Term Loan Applicable Margin and "Term Note" are added to Section 1 of the Credit Agreement to read as follows: