ABR Margin as defined in subsection 2.21.
ABR Margin applicable at all times during any Calendar Quarter (or shorter period commencing on the Closing Date and ending on the last day of the Calendar Quarter in which the Closing Date occurs) is a rate per annum equal to the excess, if any, of the Eurocurrency Margin determined on the first Business Day of such Calendar Quarter (or shorter period) over 1.00% per annum (but not less than 0%).
ABR Margin has the meaning assigned to such term in Section 2.21.
Examples of ABR Margin in a sentence
The unpaid principal amount of each ABR Loan shall bear interest from the date of the Borrowing thereof until maturity (whether by acceleration or otherwise) at a rate per annum that shall at all times be the Applicable ABR Margin plus the ABR in effect from time to time.
The ABR Margin, LIBOR Margin and the facility fee are based upon our current senior unsecured debt rating.
The ABR Margin with respect to the Tranche B-4 Loans shall mean a percentage per annum equal to 1.25%.
The Applicable ABR Margin and the Applicable LIBOR Margin shall have the same meaning as set forth in the Credit Agreement after giving effect to the Amendment No. 2.
The ABR Margin with respect to the Tranche B-2 Loans shall mean a percentage per annum equal to 2.25%.
More Definitions of ABR Margin
ABR Margin has the meaning set forth on the Pricing Schedule.
ABR Margin or “Facility Fee”, as the case may be, based upon the ratings by S&P and Xxxxx’x, respectively, applicable on such date to the Index Debt: Ratings (S&P/Xxxxx’x) Facility Fee (% per annum) LIBOR/ EURIBOR Margin (% per annum) ABR Margin (% per annum) Category 1 BBB+/Baa1 or above 0.125 % 1.000 % 0.000 % Category 2 BBB/Baa2 0.150 % 1.100 % 0.100 % Category 3 BBB-/Baa3 0.200 % 1.300 % 0.300 % Category 4 BB+/Ba1 0.300 % 1.450 % 0.450 % Category 5 BB/Ba2 or below 0.350 % 1.650 % 0.650 % Until the earlier of (i) the date on which the Borrower obtains ratings from Xxxxx’x and S&P with respect to its Index Debt, and (ii) 30 days following the Effective Date, the Borrowing shall be deemed to have a rating in Category 3; provided that, if the Borrower does not obtain such ratings within 30 days following the Effective Date, the Borrower shall be deemed to have a rating in Category 5 until such time as such ratings are obtained. For purposes of the foregoing, (a) if either Xxxxx’x or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence of this definition), then such rating agency shall be deemed to have established a rating in Category 5; (b) if the ratings established or deemed to have been established by Xxxxx’x and S&P for the Index Debt shall fall within different Categories, the Applicable Rate shall be based on the higher of the two ratings unless one of the two ratings is two or more Categories lower than the other, in which case the Applicable Rate shall be determined by reference to the Category next below that of the higher of the two ratings; and (c) if the ratings established or deemed to have been established by Xxxxx’x and S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of Xxxxx’x or S&P), such change shall be effective as of the date on which it is first publicly announced by the applicable rating agency. 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 Xxxxx’x 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 Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating ...
ABR Margin means 3.00% per annum.
ABR Margin means the applicable margin set forth in the Pricing Grid under the caption, "ABR Margin," determined based on the Utilization Percentage prevailing from time to time.
ABR Margin means for Term Loans, Revolving Loans and Swingline Loans, the rate per annum set forth under the relevant column heading opposite such Loans as set forth on Schedule A hereto.
ABR Margin applicable to outstanding ABR Loans shall be the Eurodollar Margin reduced by 1.00%. Rating of the Borrower’s unsecured, non-credit enhanced Senior Funded Debt Additional Percentage Per Annum Level 1: Equal to or greater than Baa2 by Moody’s and equal to or greater than BBB by S&P 1.00% Level 2: Equal to or greater than Baa3 by Moody’s and equal to or greater than BBB- by S&P, but less than Lxxxx 0 1.25% Level 3: Equal to or greater than Ba1 by Moody’s and equal to or greater than BB+ by S&P, but less than Lxxxx 0 1.75% Level 4: Equal to or less than Ba2 by Moody’s or equal to or less than BB by S&P 2.25% In the event that the Borrower withdraws from having its unsecured, non-credit enhanced Senior Funded Debt being rated by Mxxxx’x Investors Service, Inc. or Standard & Poor’s Ratings Group, so that one or both of such ratings services fails to rate the Borrower’s unsecured, non-credit enhanced Senior Funded Debt, the component of pricing from the grid set forth above for purposes of determining the applicable Eurodollar Rate for all Rate Periods commencing thereafter shall be 2.25% until such time as the Borrower subsequently causes its unsecured, non-credit enhanced Senior Funded Debt to be rated by both of said ratings services.
ABR Margin means, for any date, the rate set forth below in the row opposite such term and in the column corresponding to the “Status” on such date: STATUS LEVEL I LEVEL II LEVEL III LEVEL IV LEVEL V Fee Rate 0.15% 0.20% 0.25% 0.30%. 0.35% EuroDollar Margin 1.00% 1.25% 1.50% 1.75% 2.00% ABR Margin 0.00% 0.25% 0.50% 0.75% 1.00% For purposes of this Schedule, the following terms have the following meanings, subject to the concluding paragraph of this Schedule: “LEVEL I STATUS” exists at any date if, at such date, the Borrower’s credit rating is BBB+ or higher by S&P or Baa1 or higher by Xxxxx’x. “LEVEL II STATUS” exists at any date if, at such date, (i) the Borrower’s credit rating is BBB or higher by S&P or Baa2 or higher by Xxxxx’x and (ii) Level I Status does not exist. “LEVEL III STATUS” exists at any date if, at such date, (i) the Borrower’s credit rating is BBB- or higher by S&P or Baa3 or higher by Xxxxx’x and (ii) neither Level I Status nor Level II Status exists. “LEVEL IV STATUS” exists at any date if, at such date, (i) to Borrower’s credit rating is BB+ or higher by S&P or Ba1or higher by Xxxxx’x and (ii) none of Level I Status, Level II Status and Level III Status exists. “LEVEL V STATUS” exists at any date if, at such date, no other Status exists. “STATUS” refers to the determination of which of Level I Status, Level II Status, Level III Status, Level IV Status, or Level V Status exists at any date. The Eurodollar Margin, the ABR Margin and the Fee Rate shall be determined in accordance with the foregoing table based on the Borrower’s Status as of the last Business Day of the immediately preceding month. Adjustments, if any, to the Eurodollar Margin, the ABR Margin or the Fee Rate shall be effective from and after the first day of the first fiscal month immediately following such date until the first day of the first fiscal month immediately following the next such date. The credit ratings to be utilized for purposes of this Schedule are those assigned to the senior unsecured long-term debt securities of the Borrower without third-party credit enhancement, and any rating assigned to any other debt security of the Borrower shall be disregarded. The rating in effect at any date is that in effect at the close of business on such date. In the case of split ratings from S&P’s and Xxxxx’x, the rating to be used to determine which Status applies is the higher of the two; provided that if the split is more than one notch, a rating one notch below the higher rating...