Tranche B Rate means, with respect to any Tranche B Term Loan (a) -------------- 1.50% per annum, in the case of an ABR Loan, or (b) 2.50% per annum, in the case of a Eurodollar Loan.
Tranche B Rate means, with respect to any Tranche B Term Loan (a) 2.25% per annum, in the case of an ABR Loan, and (b) 3.25% per annum, in the case of a Eurodollar Loan; provided, however, that in the event that within twelve months of the Closing Date the Borrower effects an issuance of Subordinated Debt with an initial public offering or purchase price which, together with the outstanding principal amount (after giving effect to any prepayments of the Series B Bonds made with the proceeds of such Subordinated Debt) of the Series B Bonds, exceeds $220,000,000, the Tranche B Rate will be reduced by 25 basis points.
Tranche B Rate means (a) if the Leverage Ratio is greater than or equal to 4.25 to 1.00 (i) 4.25% per annum, in the case of a Eurodollar Loan, and (ii) 3.25% per annum, in the case of an ABR Loan, or (b) if the Leverage Ratio is less than 4.25 to 1.00 (i) 4.00% per annum, in the case of a Eurodollar Loan, and (ii) 3.00% per annum, in the case of an ABR Loan.
Examples of Tranche B Rate in a sentence
The Borrower agrees to pay interest in respect of the Tranche B Term Loans in arrears on the amount unpaid and owed Tranche B Obligations at a rate per annum which is equal to the Tranche B Rate.
However, these proposed approaches are limited to specific construction tasks or types of workpieces.
Upon the occurrence and during the continuance of an Event of Default, the aggregate outstanding amount of the Loans will bear interest at a rate (the “ Default Rate”) that is equal to the sum of (i) *** per annum and (ii) in the case of Tranche A Loans, the greater of (A) the Tranche A Rate and (B) the Prime Rate and in the case of Tranche B Loans, the Tranche B Rate.
More Definitions of Tranche B Rate
Tranche B Rate. , for any day, means Prime Rate plus *** per annum.
Tranche B Rate means, during any Interest Period (as defined in the definition of LIBO Rate) for any portion of any Advance within Tranche B, an interest rate per annum equal to the Reserve Adjusted LIBO Rate (as defined in the definition of LIBO Rate) plus four (4%) percent.
Tranche B Rate means 12.00% per annum, plus the Treasury -------------- Spread.
Tranche B Rate is defined in Section 2.3(a)(ii).
Tranche B Rate in Section 1.01 of the Credit Agreement is hereby amended by replacing the percentages "2.75%" and "3.75%" with "3.25%" and 4.25%", respectively.
Tranche B Rate in its entirety as follows:
Tranche B Rate means (a) 2.25% per annum, in the case of a Eurodollar Loan, and (b) 1.00% per annum, in the case of an ABR Loan; provided that (i) if the Leverage Ratio as of the most recent determination date (determined as provided in the definition of the term "Applicable Rate") is less than 4.00 to 1.00, the Tranche B Rate will be (x) 2.00% per annum, in the case of a Eurodollar Loan, and (y) 0.75%, in the case of an ABR Loan, and (ii) during any period that the Leverage Ratio is deemed to be in Category 1 pursuant to the proviso to the last sentence of the definition of the term "Applicable Rate", the Tranche B Rate shall be determined without regard to clause (i) of this proviso.