ABR Margin definition
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 set forth on the Pricing Schedule.
Examples of ABR Margin in a sentence
Notwithstanding the foregoing and the Applicable Ratings Category on the Closing Date, prior to the delivery of the financial statements for the fiscal year of the Company ending January 2, 2015, the Applicable ABR Margin, Applicable Eurocurrency Rate Margin and Applicable Commitment Fee Percentage shall be determined by reference to Category 3.
Swingline Loans shall bear interest at a per annum rate equal to the Alternate Base Rate plus Applicable ABR Margin.
Following the delivery of a Rate Certificate in accordance with this Section 2.4(c), any change in the ABR Margin or the Eurodollar Margin, as the case may be, shall become effective with respect to all ABR Loans or Eurodollar Loans, as the case may be, and Letters of Credit outstanding hereunder on the first day of the fiscal quarter immediately following the fiscal quarter in which the Rate Certificate is delivered.
The Applicable ABR Margin shall be 1.25% per annum and the Applicable LIBOR Margin shall be 2.25% per annum.
The Applicable ABR Margin or Applicable LIBOR Margin, as applicable, for each Series [ ] New Term Loan shall mean, as of any date of determination, the applicable percentage per annum as set forth below.
More Definitions of ABR Margin
ABR Margin or “Facility Fee”, as the case may be, based upon the ratings by S&P and ▇▇▇▇▇’▇, respectively, applicable on such date to the Index Debt: 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 ▇▇▇▇▇’▇ 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 ▇▇▇▇▇’▇ 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 ▇▇▇▇▇’▇ 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 ▇▇▇▇▇’▇ and S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of ▇▇▇▇▇’▇ 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 ▇▇▇▇▇’▇ 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 agency and, pending the effectiveness of any such amendment, the Applicable Rate shall be determined by refere...
ABR Margin has the meaning assigned to such term in Section 2.21.
ABR Margin means 3.00% per annum.
ABR Margin opposite the applicable ratio and (c) with respect to the Unused Fee Rate in accordance with Section 3.04(a) hereof, the percentage set forth below under the heading “Unused Fee Rate” opposite the applicable ratio: Category Consolidated Leverage Ratio Margin Margin Fee Rate I Less than 1.00:1.00 2.00 % 0.00 % 0.25 % II Greater than or equal to 1.00:1.00 but less than 2.00:1.00 2.25 % 0.00 % 0.25 % III Greater than or equal to 2.00:1.00 2.50 % 0.25 % 0.375 % Notwithstanding the foregoing, during the period commencing on the Closing Date and ending on the date of reset of the Applicable Margin in accordance with this paragraph, the ABR Margin, the LIBOR Margin and the Unused Fee Rate shall be determined based upon the margins and rate set forth in Category II above. The Applicable Margin will be set or reset with respect to each Loan on the date which is five (5) Business Days following the date of receipt by the Administrative Agent of the financial statements referred to in Section 6.03(a) and Section 6.03(b) together with a certificate of the Financial Officer of the Company certifying the Consolidated Leverage Ratio and setting forth the calculation thereof in detail; provided, however, (a) the Applicable Margin will first be reset based on the financial statements for the fiscal year ending June 30, 2011, and (b) if any such financial statement and certificate are not received by the Administrative Agent within the time period required pursuant to Section 6.03(a) or Section 6.03(b), as the case may be, the Applicable Margin will be set or reset, unless the rate of interest specified in Section 3.01(c) is in effect, based on the margins and rate set forth in Category III above from the date such financial statements and certificate were due until the date which is five (5) Business Days following the receipt by the Administrative Agent of such financial statements and certificate, and provided, further, that the Lenders shall not in any way be deemed to have waived any Default or Event of Default, including without limitation, an Event of Default resulting from the failure of the Company to comply with Section 7.13 of this Agreement, or any rights or remedies hereunder or under any other Loan Document in connection with the foregoing proviso. During the occurrence and continuance of a Default or an Event of Default, no downward adjustment, and only upward adjustments, shall be made to the Applicable Margin.
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 applicable to outstanding ABR Loans shall be the Eurodollar Margin reduced by 1.00%.
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.