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 the applicable percentages per annum set forth below, based upon the Leverage Ratio, as set forth in the most recent Compliance Certificate received by Administrative Agent pursuant to Section 7.1(d): Any increase or decrease in the Applicable Margin resulting from a change in the Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 7.1(d); provided that if a Compliance Certificate is not delivered when due in accordance with such Section, then upon the request of the Required Lenders, Pricing Level 4 shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and shall remain in effect until the date on which such Compliance Certificate is delivered. Subject to the foregoing sentence, the Applicable Margin from the Closing Date through the date a Compliance Certificate is delivered pursuant to Section 7.1(d) in respect of the first fiscal quarter of Borrower ending after the Closing Date shall be determined based upon Pricing Level 1. If, as a result of any restatement of or other adjustment to the financial statements of Borrower or for any other reason, Borrower or the Required Lenders determine that (i) the Leverage Ratio as calculated by Borrower 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, Borrower shall immediately and retroactively be obligated to pay to Administrative Agent for the account of the applicable Lenders, L/C Issuer or Swing Line Lender, as the case may be, promptly on demand by Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to Borrower under the Bankruptcy Code of the United States, automatically and without further action by Administrative Agent, any Lender, L/C Issuer or Swing Line Lender), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of Administrative Agent, any Lender, L/C Issuer or Swing Line Lender, as the case may be, under Section 2.3(c)(iii), 2.3(g) or 2.7(g) or under Article 8. Borrower’s obligations under this paragraph shall survive the termination of the Commitments and the repayment of all other Obligations hereu...
Examples of Applicable Margin in a sentence
The Loans constituting each ABR Borrowing shall bear interest at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin.
The Loans constituting each RFR Borrowing shall bear interest at a rate per annum equal to the Daily Simple RFR plus the Applicable Margin plus the S▇▇▇▇ Adjustment.
The Loans constituting each Eurocurrency Borrowing shall bear interest at a rate per annum equal to the applicable Relevant Rate for the related Interest Period for such Borrowing plus the Applicable Margin.
The unpaid principal amount of the Loans shall bear interest for each day until due at a rate equal to the greater of (a) the Applicable Rate (or, if applicable under Sections 3.4, 3.8 or 3.12, the Base Rate) plus, in each case, the Applicable Margin and (b) the Applicable Floor.
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 means for any day, with respect to (i) (a) Tranche B-1 Term Loans or Tranche B-2 Term Loans that are Eurodollar Rate Loans, 4.00% per annum and (b) Tranche B-1 Term Loans or Tranche B-2 Term Loans that are Base Rate Loans, 3.00% per annum, (ii) (a) Revolving Loans that are Eurodollar Rate Loans, 4.00% per annum and (b) Revolving Loans that are Base Rate Loans or Canadian Prime Rate Loans, 3.00% per annum; provided that commencing upon the date that financial statements are delivered for the Fiscal Quarter ending December 31, 2013, if the Leverage Ratio (calculated on a pro forma basis) as of the date of the most recently delivered financial statements is less than 2.75:1.00, each percentage figure in the preceding clause (ii) shall be reduced by 25 basis points (e.g. 4.00% shall be reduced to 3.75%). Changes in the Applicable Margin resulting from changes in the Leverage Ratio shall become effective on the date on which quarterly or annual financial statements are delivered to the Lenders pursuant to Section 5.01 and shall remain in effect until the next change to be effected pursuant to this definition. If any financial statements referred to above are not delivered within the time periods specified in Section 5.01, then, at the option of (and upon delivery of notice (telephonic or otherwise) by) the Required Revolving Lenders, until such financial statements are delivered, the Leverage Ratio as at the end of the fiscal period that would have been covered thereby shall for the purposes of this definition be deemed to be in excess of 2.75:1.00. In the event that any financial statement or certificate delivered pursuant to Section 5.01 is shown to be inaccurate, 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 applied for such Applicable Period, then (i) the U.S. Borrower shall immediately deliver to the Administrative Agent a correct certificate required by Section 5.01 for such Applicable Period and (ii) the U.S. Borrower (or the Canadian Borrower, as applicable) shall immediately pay to the Revolving Administrative Agent the accrued additional fees owing as a result of such increased Applicable Margin for such Applicable Period.
Applicable Margin has the meaning set forth in the Fee Letter.
Applicable Margin means a percentage per annum equal to:
Applicable Margin means, for any day, the rate per annum set forth below, it being understood that the Applicable Margin for (i) Base Rate Loans shall be the percentage set forth under the column "Base Rate Applicable Margin", and (ii) LIBOR Loans shall be the percentage set forth under the column "LIBOR Applicable Margin". The Applicable Margin shall be determined by reference to the Company's corporate rating provided by Standard & Poor's as set forth below: -------------------------------------------------------------------------------- Pricing Standard & Poor's LIBOR Applicable Base Rate Level Corporate Rating Margin Applicable Margin -------------------------------------------------------------------------------- I BBB+ or higher 0.450% 0.000% -------------------------------------------------------------------------------- II BBB 0.575% 0.000% -------------------------------------------------------------------------------- III BBB- 0.800% 0.000% -------------------------------------------------------------------------------- IV BB+ 0.950% 0.250% -------------------------------------------------------------------------------- V BB or lower 1.000% 0.375% -------------------------------------------------------------------------------- The Applicable Margin shall be determined and adjusted on the date of each change in the Company's corporate rating. Adjustments in the Applicable Margin shall be effective as to all Base Rate Loans and LIBOR Loans, existing and prospective, from the date of adjustment in rating. The Company shall provide the Administrative Agent with written notice of any change in the corporate rating of the Company within ten (10) Business Days after the Company becomes aware of or receives notice of such change. Notwithstanding the foregoing, during the period from December 1, 1999 through October 31, 2000, unless a change in the Company's corporate rating justifying an increase in the Applicable Margin occurs, the Applicable Margin for all LIBOR Loans shall be 0.950% and for all Base Rate Loans shall be 0.250%, and no adjustment to reduce the Applicable Margin shall be made.
Applicable Margin has the meaning set forth in Section 2.06(a).
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.