Eurodollar Spread or "Commitment Fee", as the case may be, based upon the Ratings: ------------------------------------------------------------------------- Eurodollar Commitment Ratings ABR Spread Spread Fee ------------------------------------------------------------------------- Levex 0 0.00% .25% .09% ------- A- or higher by S&P; and A3 or higher by Moody's ------------------------------------------------------------------------- Levex 0 0.00% .375% .15% ------- BBB+ by S&P; and Baa1 by Moody's ------------------------------------------------------------------------- Levex 0 0.00% .45% .20% ------- BBB by S&P; and Baa2 by Moody's ------------------------------------------------------------------------- Levex 0 .50% .625% .25% ------- BBB- by S&P; and Baa3 by Moody's ------------------------------------------------------------------------- Levex 0 .50% 1.00% .375% ------- Lower than BBB- by S&P; and lower than Baa3 by Moody's ------------------------------------------------------------------------- For purposes of the foregoing, (i) if the Ratings in effect on any date fall in different Levels, the Applicable Rate shall be determined on such date by reference to the superior (numerically lower) Level, unless the Ratings differ by more than one Level, in which case the applicable Level shall be the Level next below the superior (numerically lower) of the two; (ii) if either Moody's or S&P shall not have in effect a Rating (other than because such rating agency shall no longer be in the business of rating corporate debt obligations), then such rating agency will be deemed to have established a Rating in Level 5; and (iii) if any rating established or deemed to have been established by Moody's or S&P shall be changed (other than as a result of a change in the rating system of either Moody's or S&P), such change shall be effective as of the day after the date on which such change is first announced by the rating agency making such change. Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of either Moody's or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, the Borrower and the Banks shall negotiate in good faith to amend the references to specific ratings in this definition to reflect such changed rating system or the non- availabili...
Eurodollar Spread means one and one-half of one percent ----------------- (1.50%).
Eurodollar Spread means 102.37 basis points (1.0237%).
Examples of Eurodollar Spread in a sentence
The Leverage Ratio utilized for purposes of determining the Eurodollar Spread and the Swingline Spread shall be that in effect as of the last day of the most recently completed fiscal quarter of the Borrower in respect of which financial statements have been delivered pursuant to this Agreement or the Existing Credit Agreement.
Subject to Section 2.06(c), the Borrower agrees ---------------- to pay interest in respect of the unpaid principal amount of each Eurodollar Loan from the date thereof until payment in full thereof at a rate per annum which shall be the sum of the Applicable Rate (Eurodollar Spread) plus the relevant Adjusted LIBO Rate, but in no event to exceed the Highest Lawful Rate.
Notwithstanding anything set forth in this Agreement, Swingline Loans shall bear interest at the Swingline Lender quoted cost of funds plus the Applicable Rate (Eurodollar Spread) for Tranche B Term Loans; provided, however, that Swingline Loans shall bear interest at a rate no higher than at the Alternate Base Rate plus the Applicable Rate (ABR Spread) for Revolving Loans.
In the event the Debt Ratings from the Rating Agencies are not equivalent, the Eurodollar Spread (bps) will be determined (i) based on the higher of the two Debt Ratings if the lower Debt Rating is no more than one level lower than the higher Debt Rating, and (ii) based on the level that is one rating level higher than the lower Debt Rating if the lower Debt Rating is more than one level lower than the higher Debt Rating.
Adjustments in the Eurodollar Spread (bps) for a Eurodollar Rate Loan based upon a change in a Debt Rating level shall be effective on the first day following the change in such Debt Rating.
More Definitions of Eurodollar Spread
Eurodollar Spread means, on any date and with respect to each Eurodollar Advance, the applicable rate per annum set forth in Schedule A based on the applicable Rating Level on such date.
Eurodollar Spread means two and 25/100 percent (2.25%).
Eurodollar Spread means, on any date and with respect to each Eurodollar Advance, the applicable rate per annum set forth in Schedule A based on the applicable Rating Level and Debt/Capitalization Ratio on such date.
Eurodollar Spread means, for any day, with respect to any Loans comprising Eurodollar Borrowings, (i) when the Aggregate Exposure is less than fifty percent (50%) of the aggregate Commitments, the applicable rate per annum under the caption “Column A,” (ii) when the Aggregate Exposure is greater than or equal to fifty percent (50%) of the aggregate Commitments but less than seventy-five percent (75%) of the aggregate Commitments, the applicable rate per annum under the caption “Column B,” and (iii) when the Aggregate Exposure is greater than or equal to seventy-five percent (75%) of the aggregate Commitments, the applicable rate per annum under the caption “Column C,” in each case, corresponding to the Debt Rating set forth in the applicable Level in the pricing matrix below under such as the case may be, from time to time in effect for each day during each related period, as specified below: Level Xxxxx’x Rating S&P Rating Fitch Rating Column A Column B Column C Level 1 Aa3 or above AA- or above AA- or above 1.25% 1.375% 1.50% Level 2 A1 A+- A+- 1.35% 1.475% 1.60% Level 3 A2 A A 1.45% 1.575% 1.70% Level 4 A3 A- A- 1.55% 1.675% 1.80% Level 5 Baa1 BBB+ BBB+ 1.65% 1.775% 1.90% Level 6 Baa2 and below BBB or below BBB or below 1.75% 1.875% 2.00% In the event of split Debt Ratings (i.e., one Debt Rating is at a different Level than one or more of the other Ratings), the Eurodollar Spread shall be based upon the Level in which the lowest Debt Rating(s) appears (for the avoidance of doubt, Level 6 is the lowest Level, and Level 1 is the highest Level for purposes of the immediately above pricing matrix). References to Debt Ratings above are references to rating categories as presently determined by Xxxxx’x, S&P and Fitch and in the event of adoption of any new or changed rating system by Xxxxx’x, S&P or Fitch, including, without limitation, any recalibration or realignment of the Debt Rating in connection with the adoption of a “global” rating scale, each of the Debt Ratings from the Rating Agency in question referred to above shall be deemed to refer to the rating category under the new rating system which most closely approximates the applicable rating category as currently in effect. Any change in the Eurodollar Spread resulting from a change in a Debt Rating shall be and become effective as of and on the date of the announcement of the change in such Debt Rating.
Eurodollar Spread means two and 50/100 percent (2.50%), provided that, if Mortgagor satisfies the Rate Reduction Conditions and only during the time such Rate Reduction Conditions remain satisfied, then "EURODOLLAR SPREAD", when used to calculate the rate of interest applicable to portions of Advances funded shall mean two and 25/100 percent (2.25%). At all times when the Rate Reduction Conditions are not satisfied, the Eurodollar Spread shall be two and 50/100 percent (2.50%).
Eurodollar Spread or "Commitment Fee Rate", as the case may be, based upon the Leverage Ratio as of the most recent determination date, provided that until the delivery to the Administrative Agent, pursuant to Section 5.01(b), of Holdings's consolidated financial statements for Holdings's first fiscal quarter ending after the Effective Date, the "Applicable Margin" for purposes of clause (b) above shall be the applicable margin per annum set forth below in Category 1: ABR Eurodollar Commitment Fee Leverage Ratio: Spread Spread Rate --------------- ------ ---------- -------------- Category 1 Equal to or greater 1.50% 2.50% 0.50% than 1.00 to 1.00 Category 2 Less than 1.00 to 1.00 1.25% 2.25% 0.50% but equal to or greater than 0.50 to 1.00 Category 3 Less than 0.50 to 1.00 1.00% 2.00% 0.50% but equal to or greater than 0.25 to 1.00 Category 4 Less than 0.25 to 1.00 0.75% 1.75% 0.50% For purposes of the foregoing, (a) the Leverage Ratio shall be determined as of the end of each fiscal quarter of Holdings's fiscal year based upon Holdings's consolidated financial statements delivered pursuant to Section 5.01(a) or (b) and (b) each change in the Applicable Margin resulting from a change in the Leverage Ratio shall be effective during the period commencing on and including the first Business Day after the date of delivery to the Administrative Agent of such consolidated financial statements indicating such change and ending on the date immediately preceding the effective date of the next such change, provided that the Leverage Ratio shall be deemed to be in Category 1 (i) at any time that an Event of Default has occurred and is continuing or (ii) at the option of the Administrative Agent or at the request of the Required Lenders if Holdings fails to deliver the consolidated financial statements required to be delivered by it pursuant to Section 5.01(a) or (b), during the period from the expiration of the time for delivery thereof until such consolidated financial statements are delivered.
Eurodollar Spread means the amount as set forth below: Term Facility Revolving Facility Status ------------- ------------------ ------