Applicable Margin definition
Applicable Margin means:
Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.
Applicable Margin means, as of any date and subject to Section 6.1(b) hereof, (a) with respect to interest on all Revolving Loans outstanding on any date or the letter of credit fee, as the case may be, a percentage per annum determined by reference to the applicable Leverage Ratio in effect on such date as set forth on Schedule I and (b) with respect to interest on all Term Loans outstanding on any date a percentage per annum determined by reference to the applicable Leverage Ratio in effect on such date as set forth on Schedule II; provided, that a change in the Applicable Margin resulting from a change in the Leverage Ratio shall be effective on the second Business Day after which the Borrower delivers the financial statements required by Section 5.1(a) or (b) and the Compliance Certificate required by Section 5.1(c); provided further, that if at any time the Borrower shall have failed to deliver such financial statements and such Compliance Certificate when so required, the Applicable Margin shall be at Level V as set forth on Schedule I, in the case of Revolving Loans, and Level V as set forth on Schedule II, in the case of Term Loans, until such time as such financial statements and Compliance Certificate are delivered, at which time the Applicable Margin shall be determined as provided above. Notwithstanding the foregoing but subject to Section 6.1(b), the Applicable Margin from the Closing Date until the financial statements and Compliance Certificate for the Fiscal Quarter ending December 31, 2006 are required to be delivered shall be at Level IV as set forth on Schedule I, in the case of Revolving Loans, and at Level IV as set forth on Schedule II, in the case of Term Loans. Notwithstanding anything to the contrary contained herein, at any time that the Revolving Credit Exposure exceeds 50% of the Aggregate Revolving Commitment Amount, then the Applicable Margin for Eurodollar Loans for all pricing Levels listed on Schedule I shall automatically increase by the Utilization Premium set forth on Schedule I. In the event that any financial statement or Compliance Certificate delivered pursuant to Section 5.1(a), (b) or (c) is shown to be inaccurate (so long as such inaccuracy is discovered within the first anniversary of the Termination Date), and such inaccuracy, if corrected, would have led to the application of a higher Applicable Margin as set forth on Schedule I, in the case of Revolving Loans, and as set forth on Schedule II, in the case of Term Loans, for any ...
Examples of Applicable Margin in a sentence
Following the effectiveness of an Sustainability Amendment, any modification to the Sustainability Pricing Provisions shall be subject only to the consent of the Company and the Majority Revolving Credit Facility Lenders so long as such modification does not have the effect of (1) increasing or decreasing the Sustainability Adjustment Limitations set forth in the Sustainability Amendment or (2) reducing the Applicable Margin or the Commitment Fee to less than zero.
More Definitions of Applicable Margin
Applicable Margin appearing in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
Applicable Margin has the meaning set forth in the Fee Letter.
Applicable Margin means a percentage per annum equal to:
Applicable Margin means the percentage rate set forth below corresponding to the Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 9.3 (subject to the provisions of this definition) : The Applicable Margin shall be determined and adjusted quarterly on the date (each a “Calculation Date”) ten (10) Business Days after the day by which the Borrower is required to provide a Compliance Certificate pursuant to Section 9.3 for the most recently ended fiscal quarter of the Parent Guarantor; provided that (a) the Applicable Margin shall be based on Level I until the first Calculation Date occurring after the Effective Date, and thereafter the Applicable Margin shall be determined by reference to the Leverage Ratio as of the last day of the most recently ended fiscal quarter of the Parent Guarantor preceding the applicable Calculation Date, and (b) if the Borrower fails to provide the Compliance Certificate as required by Section 9.3 for the most recently ended fiscal quarter of the Parent Guarantor preceding the applicable Calculation Date, then the Applicable Margin from such Calculation Date shall be based on Level VI until such time as an appropriate Compliance Certificate is provided, at which time the Applicable Margin shall be determined by reference to the Leverage Ratio as of the last day of the most recently ended fiscal quarter of the Parent Guarantor preceding such Calculation Date. The Applicable Margin shall be effective from and including one Calculation Date until but excluding the next Calculation Date. Any adjustment in the Applicable Margin shall be applicable to all Loans then outstanding or subsequently made. Notwithstanding the foregoing paragraph, in the event that any financial statement or Compliance Certificate delivered pursuant to Section 9.1, 9.2 or 9.3 is shown to be inaccurate (regardless of whether (i) this Agreement is in effect or (ii) any Loan is outstanding when such inaccuracy is discovered or such financial statement or Compliance Certificate was delivered), and such inaccuracy, if corrected, would have led to the application of a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin actually applied for such Applicable Period, then (A) the Borrower shall immediately deliver to the Administrative Agent a corrected Compliance Certificate for such Applicable Period, (B) the Applicable Margin for such Applicable Period shall be determin...
Applicable Margin means, on any date of determination, a rate that is determined, based upon the S&P Rating, the ▇▇▇▇▇’▇ Rating or the Fitch Rating, as follows: If at any time each Rating Agency issues a different rating, then the Applicable Margin shall be determined based on the intermediate rating at such time. If at any time two Rating Agencies issue the same rating, which is different than the other Rating Agency, the rating issued by such other Rating Agency shall be disregarded, and the Applicable Margin shall be determined based on the two identical ratings at such time. If there is no S&P Rating and Fitch Rating, then the Applicable Margin shall be determined based on the ▇▇▇▇▇’▇ Rating. If there is no ▇▇▇▇▇’▇ Rating and Fitch Rating, then the Applicable Margin shall be determined based on the S&P Rating. If there is no ▇▇▇▇▇’▇ Rating and S&P Rating, then the Applicable Margin shall be determined based on the Fitch Rating. If at any time only two Rating Agencies issue a rating and there is a difference of two or more rating levels between such Rating Agencies, then the Applicable Margin shall be determined based on the intermediate rating levels at the midpoint between the ratings issued by such Rating Agencies at such time or, if there is no midpoint, based on the higher intermediate level. If (i) there is no S&P Rating, ▇▇▇▇▇’▇ Rating and Fitch Rating or (ii) an Event of Default has occurred and is continuing, the Applicable Margin shall be the highest rate per annum indicated therefor in the above table. The S&P Rating, ▇▇▇▇▇’▇ Rating and Fitch Rating in effect on any date for purposes of determining the Applicable Margin shall be that S&P Rating, ▇▇▇▇▇’▇ Rating and Fitch Rating in effect at the close of business on such date. Each change in the Applicable Margin resulting from a publicly announced change in the S&P Rating, the Fitch Rating and/or the ▇▇▇▇▇’▇ Rating shall be effective during the period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next change.
Applicable Margin with respect to Revolving Loans and Swingline Loans, (a) from the Amendment No. 1 Effective Date until one Business Day after the date of delivery of the Compliance Certificate and the financial statements for the period ending June 30, 2013, the applicable percentage per annum set forth below determined by reference to Pricing Level 1; and (b) thereafter, the applicable percentage per annum set forth below determined by reference to the Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate delivered to the Administrative Agent pursuant to Section 5.2(b)(ii)(x): Pricing Level ConsolidatedLeverage Ratio Applicable Margin for Eurodollar Loans Applicable Margin for Base Rate Loans No change in the Applicable Margin shall be effective until one Business Day after the date on which the applicable financial statements and a Compliance Certificate pursuant to Section 5.2(b)(ii)(x) calculating the Consolidated Leverage Ratio shall have been delivered to the Administrative Agent. At any time the Borrower has not submitted to the Administrative Agent the applicable information as and when required under Section 5.2(b)(ii)(x), the Applicable Margin shall be determined as if Pricing Level 1 shall have applied until one Business Day after the delivery of such information to the Administrative Agent. Promptly upon receipt of the applicable information under Section 5.2(b)(ii)(x), the Administrative Agent shall give each Lender telefacsimile or telephonic notice (confirmed in writing) of the Applicable Margin in effect from the date of delivery of such information by the Borrower to the Administrative Agent.
Applicable Margin means, for any day, the applicable percentage set forth below under the caption "Base Rate Loans," or "Euro-Dollar Loans," as the case may be, based upon the Leverage Ratio as of the relevant date of determination: --------------------------------------------------------------------------------------------- Leverage Ratio Base Rate Loans Euro-Dollar Loans --------------------------------------------------------------------------------------------- Level I Greater than 3.0 to 1.0 0.375% 1.375% --------------------------------------------------------------------------------------------- Level II Equal to or less than 3.0 to 1.0, but greater than 2.5 to 1.0 0.125% 1.125% --------------------------------------------------------------------------------------------- Level III Equal to or less than 2.5 to 1.0, but greater than 2.0 to 1.0 0.000% 0.875% --------------------------------------------------------------------------------------------- Level IV Equal to or less than 2.0 to 1.0, but greater than 1.0 to 1.0 0.000% 0.750% --------------------------------------------------------------------------------------------- Level V Equal to or less than 1.0 to 1.0 0.000% 00.625% --------------------------------------------------------------------------------------------- Each change in the Applicable Margin resulting from a change in the Leverage Ratio shall be effective with respect to all Loans outstanding on and after the date of delivery to the Administrative Agent of the financial statements and certificates required by Section 5.01(a) or (b) and Section 5.01(e), respectively, indicating such change until the date immediately preceding the next date of delivery of such financial statements and certificates indicating another such change. Notwithstanding the foregoing, (i) from the Closing Date to the date of delivery to the Administrative Agent of the financial statements and certificates required by Section 5.01(a) or (b) and Section 5.01(e) for the fiscal quarter ending at least six months after the Closing Date, the Leverage Ratio shall be deemed to be in Level III for purposes of determining the Applicable Margin and (ii) (a) at any time during which the Borrower has failed to deliver the financial statements and certificates required by Section 5.01(a) or (b) and Section 5.01(e), respectively, or (b) at any time after the occurrence and during the continuance of an Event of Default, the Leverage Ratio shall be deemed to be in Level I for purposes of determin...