Applicable ABR Rate definition

Applicable ABR Rate. “Borrowing Base”, “LIBOR Rate”, “Prepayment Fee”, “Security Agreement”, “Term Loan”, “Term Loan Commitment”, “Term Loan Maturity Date” and “Three Month LIBOR Rate” set forth in Section 1.1 of the Credit Agreement are hereby amended and restated to read as follows:
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Applicable ABR Rate means, for any period, in the event the Funded Debt to EBITDA ratio calculated pursuant to Section 6.1(e) hereof is (a) less than 1.00 to 1.00, then the ABR plus 0.00%, (b) greater than or equal to 1.00 to 1.00 but less than 2.00 to 1.00, then the ABR plus 0.25%, (c) greater than or equal to 2.00 to 1.00 but less than 3.00 to 1.00, then the ABR plus 0.50%, and (d) greater than or equal to 3.00 to 1.00, then the ABR plus 0.75%. The Applicable ABR Rate for any Fiscal Quarter shall be determined based on the financial statements delivered by the Borrower during the immediately
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Applicable ABR Rate means a percentage per annum (if positive) equal to the Applicable LIBOR Rate minus 1.00%.
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Examples of Applicable ABR Rate in a sentence

  • Section 2(b)(i) of the Existing Agreement is hereby amended by deleting the phrase “the Alternate Base Rate in effect from time to time” in its entirety and substituting therefor the new phrase “the Applicable ABR Rate in effect from time to time”.

  • Except as provided pursuant to clause (b) of this Section 3.1, the aggregate principal amount of the Revolving Loans outstanding from time to time shall bear interest at a rate per annum equal to the Applicable ABR Rate until the entire principal amount of the Revolving Loans shall have been repaid.

  • Section 2(j) of the Existing Agreement is hereby amended by deleting the phrase “at the Alternate Base Rate plus 2% per annum” in its entirety and substituting therefor the new phrase “at the Applicable ABR Rate in effect from time to time plus 2% per annum”.

  • Subject to the terms and conditions of clause (c) below and Section 3.9 hereof, the Borrower may, at its sole option prepay the principal amount of the Revolving Loans (whether bearing interest at the Applicable ABR Rate or Applicable LIBOR Rate) in whole or in part (in an amount of $1,000,000 or more and in multiples of $250,000) at any time and from time to time, without premium or penalty.

  • Each Drawing shall immediately be deemed to be and for all purposes of this Agreement shall constitute a Revolving Loan hereunder in the amount of such drawing (which Revolving Loan shall, for the avoidance of doubt, bear interest initially at the Applicable ABR Rate).


More Definitions of Applicable ABR Rate

Applicable ABR Rate means a rate per annum equal at all times to the sum of the Alternate Base Rate in effect from time to time plus the ABR Spread in effect from time to time.
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Applicable ABR Rate means, with respect to ABR Borrowings, ***.
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