Applicable Euro-Rate Margin definition

Applicable Euro-Rate Margin means the rate per annum set forth in the chart below which corresponds to the range of ratios in which the ratio of the Borrower's Consolidated Total Indebtedness to Adjusted EBITDA as at the end of the preceding fiscal quarter falls: ---------------------------------------------- -------------------------------- Consolidated Total Indebtedness Applicable Euro-Rate Margin to Adjusted EBITDA ratio ---------------------------------------------- -------------------------------- Less than or equal to 1.5 to 1.0 1/2% ---------------------------------------------- -------------------------------- Greater than 1.5 to 1.0 but less than 5/8% or equal to 2.0 to 1.0 ---------------------------------------------- -------------------------------- Greater than 2.0 to 1.0 but less than 3/4% or equal to 2.5 to 1.0 ---------------------------------------------- -------------------------------- Greater than 2.5 to 1.0 but less than 7/8% or equal to 3.0 to 1.0 ---------------------------------------------- -------------------------------- Greater than 3.0 to 1.0 1% ---------------------------------------------- -------------------------------- All adjustments shall be determined as of the date on which the Borrower's quarterly financial statements and Compliance Certificate are required to be delivered pursuant to items (i) and (iii) of Section 6.02. The foregoing notwithstanding the Applicable Euro-Rate Margin from the Second Amendment Effective Date to and including the April 1998 Delivery Date shall be five-eighths of one percent (5/8%). Prior to the Second Amendment Effective Date, the Applicable Euro Rate Margin shall be determined under the Original Credit Agreement.
Applicable Euro-Rate Margin means (i) in the case of each of the Revolving Loans and Tranche A Term Loans, a percentage per annum equal to 3.00% and (ii) in the case of Tranche B Term Loans, a percentage per annum equal to 3.75%; provided that the percentage set forth in clause (i) above shall be adjusted by the applicable Interest Reduction Discount.
Applicable Euro-Rate Margin means, for each Euro-Rate Portion, a rate per annum equal to the annualized rates (stated in terms of basis points) indicated on the pricing grid attached hereto as "Exhibit A" and corresponding to the ratings established by both S&P and Xxxxx'x applicable to the Borrower's Senior Ratings at such date of determination, provided, however, that the Applicable Euro-Rate Margin will be increased by twelve and one-half (12.5) basis points (0.125%) during the period in which more than 50% of the Commitments are utilized. For the purposes hereof, the Commitments shall be deemed to be utilized by the aggregate amount of Loans and/or Letters of Credit then outstanding. For purposes of determining the Applicable Euro-Rate Margin: (i) if the Senior Ratings established by Xxxxx'x and S&P shall differ, the pricing shall be based on the higher of the two Senior Ratings unless one of the Senior Ratings is two or more levels lower than the other, in which case the pricing shall be determined by reference to the level next above that of the lower of the two Senior Ratings, (ii) if any Senior Rating established by Xxxxx'x or S&P shall be changed (other than as a result of a change in the rating system of either Xxxxx'x or S&P), such change shall be effective as of the date on which such change is first announced by the rating agency making such change, (iii) notwithstanding anything herein to the contrary, if at any time during the term of this Agreement, the Borrower shall not have a Senior Rating assigned by S&P, the "Applicable Euro-Rate Margin" means, for each Euro-Rate Portion, a rate per annum equal to the annualized rates (stated in terms of basis points) indicated on the pricing grid attached hereto as Exhibit A and corresponding to the ratings established by Xxxxx'x applicable to the Borrower's Senior Ratings at such date of determination, and (iv) notwithstanding anything herein to the contrary, if at any time during the term of this Agreement, the Borrower shall not have a Senior Rating assigned by Xxxxx'x, the "Applicable Euro-Rate Margin" means, for each Euro-Rate Portion, a rate per annum equal to the annualized rates (stated in terms of basis points) indicated on the pricing grid attached hereto as Exhibit A and corresponding to the ratings established by S&P applicable to the Borrower's Senior Ratings at such date of determination.

Examples of Applicable Euro-Rate Margin in a sentence

  • The Adjusted Euro-Rate for each Euro-Rate Portion then outstanding shall be adjusted automatically, from time to time, effective upon each change in the Applicable Euro-Rate Margin resulting from an increase or decrease in utilization of the Commitments.

  • A rate of interest per annum (computed on the basis of a year of 360 days and the actual number of days elapsed) equal to the sum of (A) the Euro-Rate plus (B) the Applicable Euro-Rate Margin from time to time in effect (the "Adjusted Euro-Rate").

  • The Borrower shall pay to the Agent for the ratable account of the Lenders a fee (the "Letter of Credit Fee") equal to the Applicable Euro-Rate Margin for Revolving Credit Loans (computed on the basis of a year of 360 days and actual days elapsed), which fees shall be computed on the daily average amount of the Letters of Credit Outstanding and shall be payable quarterly in arrears commencing with the last day of each September, December, March and June following issuance of each Letter of Credit.

  • Subject to the provisions of Sections 2.2E and 4 hereof, each Revolving Credit Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at the Base Rate plus the Applicable Base Rate Margin or the Euro-Rate plus the Applicable Euro-Rate Margin, as the case may be.

  • If the Borrower fails to deliver either the Hungarian Guarantee Documents or the Hungarian Loan Reorganization Documents within 90 days following the Restatement Closing Date, then each of the otherwise existing Applicable Base Rate Margin, Applicable Euro-Rate Margin and the Letter of Credit Fee shall in lieu of interest at the Default Rate, be increased by 20 basis points and 120 days thereafter by a further 15 basis points.


More Definitions of Applicable Euro-Rate Margin

Applicable Euro-Rate Margin means for each Euro-Rate Portion, a rate per annum equal to the following annualized rates (stated in terms of basis points) that correspond to the ratings established by both S&P and Moodx'x xxxlicable to New Jersey Natural Gas Company's Senior Ratings at such date of determination: SENIOR SECURED DEBT RATING APPLICABLE EURO-RATE MARGIN -------------------------- --------------------------- Level 1 40.0 Greater than or equal to A+/A1 Levex 0 00.0 X-/X0 Xxxxx 0 80.0 BBB/Baa2 Level 4 100.0 BBB-/Baa3 or less provided, however, that the Applicable Euro-Rate Margin will be increased by twelve and one-half (12.5) basis points (.125%) during the period in which more than 66-2/3% of the Commitments are utilized. For the purposes hereof, the Commitments shall be deemed to be utilized by the aggregate amount of Loans then outstanding. For purposes of determining the Applicable Euro-Rate Margin: (i) if one or both of Moodx'x xx S&P shall fail to have in effect a Senior Rating for New Jersey Natural Gas Company, then such rating agency shall be deemed to have established a Senior Rating in Levex 0, (xx) xx the Senior Rating established by Moodx'x xxx S&P for New Jersey Natural Gas Company shall differ, the pricing shall be based on the higher of the two Senior Ratings unless one of the Senior Ratings is two or more Levels lower than the other, in which case the pricing shall be determined by reference to the Level next above that of the lower of the two Senior Ratings; and (iii) if any Senior Rating established by Moodx'x xx S&P for New Jersey Natural Gas Company shall be changed (other than as a result of a change in the rating system of either Moodx'x xx S&P), such change shall be effective as of the date on which such change is first announced by the rating agency making such change.
Applicable Euro-Rate Margin means the applicable per annum percentage set forth in the table appearing in Section 2.2A hereof, with respect to Euro-Rate Loans.
Applicable Euro-Rate Margin means (i) in the case of each of the Revolving Loans and Tranche A Term Loans, a percentage per annum equal to 3.75%, effective as of the Amendment Effective Date and (ii) in the case of Tranche B Term Loans, a percentage per annum equal to 4.25%, effective as of the Amendment Effective Date; provided, however, that the percentage per annum provided in clauses (i) and (ii) above shall increase an additional .25% effective as of November 15, 2001 in the event that the Borrowers do not both (a) deliver to the Administrative Agent on behalf of the Lenders the June 2002 Repayment Letter of Intent and (b) make a repayment of Term Loans in accordance with the terms of Section 4.02(i) in an aggregate amount of at least $30.0 million generated by an Asset Sale or Asset Sales (on terms and conditions consistent with this Credit Agreement and otherwise acceptable to the Administrative Agent) on or before November 15, 2001; provided that if such an Asset Sale includes the sale of Receivables Related Assets that are required, pursuant to the terms of the Receivables Financing Agreement, to be used to reduce Indebtedness thereunder, then the amount of such repayment shall be reduced dollar-for-dollar to the extent of such repayment of the Receivables Financing Agreement; All of the percentages set forth above shall be adjusted by the applicable Interest Reduction Discount. 'Consolidated Debt' shall mean, at any time, all Indebtedness of the Company and its Subsidiaries determined on a consolidated basis; provided that for purposes of this definition, the amount of Indebtedness in respect of Interest Rate Protection Agreements and Other Hedging Agreements shall be at any time equal to the unrealized net loss position, if any, of the Company and/or its Subsidiaries thereunder on a marked to market basis determined no more than one month prior to such time; provided, further, that for the purposes of this definition, Consolidated Debt shall be considered to include (without duplication) all outstanding amounts under the Receivables Financing Agreement).
Applicable Euro-Rate Margin means that rate per annum shown in the appropriate place on Annex I, attached hereto and made a part hereof.
Applicable Euro-Rate Margin means:
Applicable Euro-Rate Margin means 5.50%."
Applicable Euro-Rate Margin means four percent (4.00%) per annum.