Applicable Margin definition

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 (i) until the date of delivery to the Agent of the certified unqualified audited consolidated financial statements of Holdings and its Subsidiaries for Holdings’ fiscal year ending December 31, 2017 and a related compliance certificate pursuant to Section 10.01(g) (x) with respect to any Eurodollar Loan, a percentage per annum equal to 9.00% and (y) with respect to any Base Rate Loan, a percentage per annum equal to 8.00% and (ii) thereafter, the percentages per annum set forth in the table below, based upon the Total Net Leverage Ratio as set forth in the most recent compliance certificate received by the Administrative Agent pursuant to Section 10.01(g): Total Net Leverage Ratio Eurodollar Rate Loans Base Rate Loans Greater than 2.25:1.00 9.00 % 8.00 % Less than or equal to 2.25:1.00 8.50 % 7.50 % Any change in the Applicable Margin pursuant to clause (ii) above resulting from a change in the Total Net Leverage Ratio shall become effective as of the first Business Day immediately following the date the applicable compliance certificate is delivered pursuant to Section 10.01(g); provided, however, if a compliance certificate was required to have been delivered pursuant to Section 10.01(g) but was not delivered within two Business Days of the date when due, then, an Applicable Margin of (x) 9.00% for any Eurodollar Loan or (y) 8.00% for any Base Rate Loan, in each case, shall retroactively be deemed to apply from the date that is one Business Day after the date on which the compliance certificate was required to have been delivered pursuant to Section 10.01(g) without regard to the Total Net Leverage Ratio until the date on which such compliance certificate is delivered.
Applicable Margin means:

Examples of Applicable Margin in a sentence

  • Each of the parties hereto acknowledge and agree, for the avoidance of doubt that, from and after the Amendment No. 2 Effective Date, the Applicable Margin for all purposes of the Credit Agreement shall be determined in accordance with the provisions of the Credit Agreement as amended hereby and that, for any day prior to the Amendment No. 2 Effective Date, the Applicable Margin shall be determined in accordance with the Credit Agreement prior to giving effect to this Amendment.

  • The Applicable Margin is based on the Company’s leverage ratio, as defined in the Revolving Credit Facility, with such margin ranging from 1.000% to 1.575%.The Company is required to pay certain fees in connection with the Revolving Credit Facility, including administrative service fees and an annual facility fee.

  • Borrowings under our 2012 Credit Facility bear interest at either: (i) the Base Rate (as defined in the agreement governing our 2012 Credit Facility (the “amended Credit Agreement”) plus the Applicable Margin (as defined in the amended Credit Agreement); or (ii) LIBOR plus the Applicable Margin (as defined in the amended Credit Agreement).

  • Commencing with the fiscal quarter of Lessee ending on or nearest to March 31, 1999, and continuing with each fiscal quarter thereafter, Lessor will determine the Applicable Margin in accordance with the foregoing pricing grid table, based on the ratio of (x) the Funded Indebtedness of the Companies as of the end of the fiscal quarter, to (y) the EBITDA of the Companies for the four consecutive fiscal quarters ended on the last day of the fiscal quarter, as identified in the pricing grid table.

  • Each Alternative Currency Term Rate Loan shall accrue interest at the Alternative Currency Term Rate plus the Applicable Margin for Alternative Currency Loans.


More Definitions of Applicable Margin

Applicable Margin and “Commitment Fee Rate” shall mean, for any day, the applicable rate per annum set forth below under the caption “Applicable Margin” or “Commitment Fee Rate”, respectively, based upon the ratings by Moody’s and S&P, respectively, applicable on such date to the Borrower’s non-credit-enhanced long term senior unsecured debt or, to the extent that no such rating is available, one (1) rating notch below the ratings of the Borrower’s long term senior secured debt: Debt Ratings Moody’s/S&P Commitment Fee Applicable Margin LIBOR ABR Category 1 > A1/A+ 0.075% 0.875% 0.000% Category 2 = A2/A 0.100% 1.000% 0.000% Category 3 = A3/A- 0.125% 1.125% 0.125% Category 4 = Baa1/BBB+ 0.175% 1.250% 0.250% Category 5 = Baa2/BBB 0.225% 1.500% 0.500% Category 6 < Baa3/BBB- 0.275% 1.750% 0.750% For purposes of this definition, (i) if the ratings established by Moody’s and S&P shall fall within different Categories, the Applicable Margin and the Commitment Fee 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 Margin and the Commitment Fee Rate shall be determined by reference to the Category next below the higher of the two Categories, (ii) if only one rating is available from either Moody’s or S&P, then such rating shall be used to determine the applicable Category, (iii) if neither Moody’s nor S&P shall have in effect a rating for the Borrower’s non-credit-enhanced long term senior unsecured debt and neither Moody’s nor S&P shall have in effect a rating for the Borrower’s long term senior secured debt, then Category 6 above shall apply, and (iv) if the ratings established or deemed to have been established by Moody’s and S&P shall be changed (other than as a result of a change in the rating system of Moody’s or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Applicable Margin and Commitment Fee 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 Moody’s 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 rati...
Applicable Margin means, as of any date, 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 from time to time in effect as set forth on Schedule I; 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 I as set forth on Schedule I 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, the Applicable Margin from the Closing Date until the financial statements and Compliance Certificate for the Fiscal Quarter ending March 31, 2008 are required to be delivered shall be at Level III as set forth on Schedule I.
Applicable Margin means, for any day, the rate per annum set forth below opposite the applicable level then in effect (based on the Leverage Ratio), it being understood that the Applicable Margin for (a) Alternate Base Rate Loans shall be the percentage set forth under the columnBase Rate Margin”, (b) LIBOR Rate Loans shall be the percentage set forth under the column “LIBOR Margin & L/C Fee”, (c) the Letter of Credit Fee shall be the percentage set forth under the column “LIBOR Margin & L/C Fee”, and (d) the Commitment Fee shall be the percentage set forth under the column “Commitment Fee”: Applicable Margin Level Leverage Ratio LIBOR Margin & L/C Fee Base Rate Margin Commitment Fee I Less than 2.00 to 1.00 1.50 % 0.50 % 0.30 % II Greater than or equal to 2.00 to 1.00 but less than 3.00 to 1.00 1.75 % 0.75 % 0.30 % III Greater than or equal to 3.00 to 1.00 but less than 3.50 to 1.00 2.00 % 1.00 % 0.375 % IV Greater than or equal to 3.5 to 1.00 2.25 % 1.25 % 0.40 % The Applicable Margin shall, in each case, be determined and adjusted quarterly on the date five (5) Business Days after the date on which the Administrative Agent has received from the Company the quarterly financial information (in the case of the first three fiscal quarters of the Company’s fiscal year), the annual financial information (in the case of the fourth fiscal quarter of the Company’s fiscal year) and the certifications required to be delivered to the Administrative Agent and the Lenders in accordance with the provisions of Sections 5.1(a), 5.1(b) and 5.2(b) (each an “Interest Determination Date”). Such Applicable Margin shall be effective from such Interest Determination Date until the next such Interest Determination Date. After the Closing Date, if the Credit Parties shall fail to provide the financial information or certifications in accordance with the provisions of Sections 5.1(a), 5.1(b) and 5.2(b), the Applicable Margin shall, on the date five (5) Business Days after the date by which the Credit Parties were so required to provide such financial information or certifications to the Administrative Agent and the Lenders, be based on Level IV until such time as such information or certifications or corrected information or corrected certificates are provided, whereupon the Level shall be determined by the then current Leverage Ratio. Notwithstanding the foregoing, the initial Applicable Margins shall be as set forth in Level II until the financial information and certificates required to be de...
Applicable Margin means a percentage per annum equal to:
Applicable Margin means the rate per annum set forth on the grid when the Borrowing Base Utilization Percentage is at its highest level.
Applicable Margin means with respect to Revolving Loans, (i) from the First Restatement Effective Date until one Business Day after the date of delivery of the Compliance Certificate and the financial statements for the period ending March 31, 2011, the applicable percentage, per annum, set forth below determined by reference to Pricing Level 1; and (ii) thereafter, the applicable percentage, per annum, set forth below determined by reference to the Leverage Ratio as set forth in the most recent Compliance Certificate received by Administrative Agent pursuant to Section 5.1(c): Pricing Level Leverage Ratio Applicable Margin for Eurocurrency Rate Loans Applicable Margin for Base Rate Loans 1 ³ 4.00:1.00 3.25 % 2.25 % 2 < 4.00:1.00 but ³ 2.75:1.00 3.00 % 2.00 % 3 < 2.75:1.00 2.75 % 1.75 % No change in the Applicable Margin shall be effective until one Business Day after the date on which Administrative Agent shall have received the applicable financial statements and a Compliance Certificate pursuant to Section 5.1(c) calculating the Leverage Ratio. At any time Parent Borrower has not submitted to Administrative Agent the applicable information as and when required under Section 5.1(c), the Applicable Margin shall be determined as if Pricing Level 1 shall have applied until one Business Day after the delivery of such information. Promptly upon receipt of the applicable information under Section 5.1(c), Administrative Agent shall give each Lender telefacsimile or telephonic notice (confirmed in writing) of the Applicable Margin and the Applicable Revolving Commitment Fee Percentage in effect from such date. If at a time when this Agreement is in effect and unpaid Obligations under this Agreement are outstanding (other than Obligations under any Cash Management Agreement or Hedge Agreement and indemnities and other contingent obligations not yet due and payable), as a result of any restatement of or other adjustment to the financial statements of Holdings or Parent Borrower or for any other reason, Parent Borrower, Holdings or the Lenders determine that (i) the Leverage Ratio as calculated by Holdings as of any applicable date was inaccurate and (ii) a proper calculation of the Leverage Ratio would have resulted in higher pricing for such period, the applicable Borrower shall immediately and retroactively be obligated to pay to Administrative Agent for the account of the applicable Lenders or Issuing Bank, as the case may be, promptly on demand by Administrative Agent (or, afte...
Applicable Margin means, as of any date of determination and with respect to Base Rate Loans or LIBOR Rate Loans, as applicable, the applicable margin set forth in the following table that corresponds to the most recent Total Leverage Ratio calculation delivered to Agent pursuant to Section 5.1 of the Agreement (the “Total Leverage Ratio Calculation”); provided, that for the period from the Closing Date through the date Agent receives the Total Leverage Ratio Calculation in respect of the testing period ending March 31, 2013, the Applicable Margin shall be set at the margin in the row styled “Level III”; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Margin shall be set at the margin in the row styled “Level III”: Level Total Leverage Ratio Calculation Applicable Margin Relative to Base Rate Loans (the “Base Rate Margin”) Applicable Margin Relative to LIBOR Rate Loans (the “LIBOR Rate Margin”) I If the Total Leverage Ratio is less 2.5:1.0 4.50 percentage points 5.50 percentage points II If the Total Leverage Ratio is greater than or equal to 2.5:1.0 and less than or equal to 3.0:1.0 4.75 percentage points 5.75 percentage points III If the Total Leverage Ratio is greater than 3.0:1.0 5.00 percentage points 6.00 percentage points Except as set forth in the foregoing proviso, the Applicable Margin shall be based upon the most recent Total Leverage Ratio Calculation, which will be calculated as of the end of each fiscal quarter. Except as set forth in the foregoing proviso, the Applicable Margin shall be re-determined quarterly on the first day of the month following the date of delivery to Agent of the certified calculation of the Total Leverage Ratio pursuant to Section 5.1 of the Agreement; provided, that if Borrowers fail to provide such certification when such certification is due, the Applicable Margin shall be set at the margin in the row styled “Level III” as of the first day of the month following the date on which the certification was required to be delivered until the date on which such certification is delivered (on which date (but not retroactively), without constituting a waiver of any Default or Event of Default occasioned by the failure to timely deliver such certification, the Applicable Margin shall be set at the margin based upon the calculations disclosed by such certification. In the event that the information regarding the Total Leverage Ratio contained in any certificate delivered pursuant to Section 5....