Definition of Applicable Margin (Base Rate)


Applicable Margin (Base Rate) , means, for any date, a rate per annum equal to the Credit Default Swap Spread (Base Rate) at such date as specified below, provided that in no event shall the Applicable Margin (Base Rate) be less than 1.25% per annum or greater than 5.00% per annum. The "Credit Default Swap Spread (Base Rate)" at any date is the credit default swap mid-rate spread applicable to senior debt of the Borrower with a maturity of one year from such date (the "Spread (Base Rate)"), as of the close of business on such date (or if such date is not a Business Day, on the next preceding Business Day), as provided by Markit Group Limited through its website or, if no such Spread (Base Rate) appears on such website, then the Spread (Base Rate), as of the close of business on such date (or if such date is not a Business Day, on the next preceding Business Day), as provided by Bloomberg through its website. If at any time the Credit Default Swap Spread (Base Rate) is unavailable and the Borrower and the Banks have been unable to agree, each in its own discretion, on an alternative means of determining the Spread (Base Rate), the Applicable Margin (Base Rate) shall be 5.00% per annum.

Examples of Applicable Margin (Base Rate) in a sentence

LEVEL III PERFORMANCE MARGINS: Interest Rate Option Applicable Margin Base Rate Option Zero Euro-Rate Option 0.875% Level III Performance Margins shall apply in the event that Financial Test III is satisfied and the other conditions set forth above are met.
LEVEL II PERFORMANCE MARGINS: Interest Rate Option Applicable Margin Base Rate Option Zero Euro-Rate Option 00% Level II Performance Margins shall apply in the event that Financial Test II is satisfied and the other conditions set forth above are met.
LEVEL IV PERFORMANCE MARGINS: Interest Rate Option Applicable Margin Base Rate Option Zero Euro-Rate Option 0.75% Level IV Performance Margins shall apply in the event that Financial Test IV is satisfied and the other conditions set forth above are met.
The definitions of Applicable Margin, Base Rate Portion, Borrowing Base, LIBOR Portion, LIBOR Request, Majority Lenders, Notes, Revolving Credit Maximum Amount and Total Credit Facility contained in Appendix A to the Loan Agreement are hereby deleted and the following are inserted in their stead.
The definitions of Applicable Margin, Base Rate, Revolving Commitment and Maximum Loan Limit set forth in Section 1 of the Loan Agreement are hereby amended and restated in their entirety to read as follows: Applicable Margin shall mean (i) with respect to Term A Loans, 4.50%, (ii) with respect to the commitment fee, .40%, (iii) with respect to Revolving Loans, 4.00%, and (v) with respect to Letters of Credit, 4.00%.