Applicable Margin Percentage means, at any time from and after the Restatement Effective Date , the applicable margin percentage (i) to be added to the LIBOR Market Index Rate and the LIBOR Rate pursuant to Section 2.8 for purposes of determining the Adjusted LIBOR Market Index Rate and the Adjusted LIBOR Rate, as the case may be, (ii) to be added to the Base Rate pursuant to Section 2.8 for the purpose of determining the Adjusted Base Rate and (iii) to be used in calculating the commitment fee payable pursuant to Section 2.9(a), in each case as determined under the following matrix with reference to the ratio of Consolidated Debt to Consolidated Total Capitalization: On each Adjustment Date (as hereinafter defined), the Applicable Margin Percentage for all Loans and the commitment fee payable pursuant to Section 2.9(a) shall be adjusted effective as of such date (based upon the calculation of the Consolidated Debt to Consolidated Total Capitalization as of the last day of the fiscal period to which such Adjustment Date relates) in12581222v10 24740.00017 accordance with the above matrix; provided, however, that, notwithstanding the foregoing or anything else herein to the contrary, if at any time the Borrower shall have failed to deliver the financial statements and a Compliance Certificate as required by Section 6.1(a) or Section 6.1(b), as the case may be, and Section 6.2(a) , or if at any time an Event of Default shall have occurred and be continuing, then at the election of the Required Lenders, at all times from and including the date on which such statements and Compliance Certificate are required to have been delivered (or the date of occurrence of such Event of Default, as the case may be) to the date on which the same shall have been delivered (or such Event of Default shall have been cured or waived, as the case may be), each Applicable Margin Percentage shall be calculated in accordance with level 4 of the above matrix. For purposes of this definition, “Adjustment Date” shall mean, with respect to any fiscal period of the Borrower beginning with the fiscal quarter ending December 31, 2019 , the tenth (10th) day (or, if such day is not a Business Day, the next succeeding Business Day) after delivery by the Borrower in accordance with Section 6.1(a) or Section 6.1(b) , as the case may be, of
Applicable Margin Percentage means, at any time from and after the Closing Date, the applicable percentage (a) to be added to the Base Rate pursuant to Section 2.8 for purposes of determining the Adjusted Base Rate, (b) to be added to the LIBOR Rate pursuant to Section 2.8 for purposes of determining the Adjusted LIBOR Rate, and (c) to be used in calculating the commitment fee payable pursuant to Section 2.9(b), in each case as determined under the following matrix with reference to the Leverage Ratio: Applicable Margin Applicable Margin Applicable Margin Percentage for Percentage for Percentage for Unutilized Leverage Ratio Base Rate Loans LIBOR Loans Commitments Fee -------------- --------------- ----------- --------------- Greater than or equal to .30 to 1.0 0.50% 1.50% 0.325% Greater than or equal to .25 to 1.0 but less than .30 to 1.0 0.25% 1.25% 0.275% Greater than or equal to .20 to 1.0 but less than .25 to 1.0 0.00% 1.00% 0.225% Less than .20 to 1.0 0.00% 0.75% 0.200% On each Adjustment Date (as hereinafter defined), the Applicable Margin Percentage for all Loans and the commitment fee payable pursuant to Section 2.9(b) shall be adjusted effective as of such date (based upon the calculation of the Leverage Ratio as of the last day of the fiscal period to which such Adjustment Date relates) in accordance with the above matrix; provided, however, that, notwithstanding the foregoing or anything else herein to the contrary, if at any time the Borrower shall have failed to deliver the financial statements and a Compliance Certificate as required by Section 6.1(a) or Section 6.1(b), as the case may be, and Section 6.3(a), then at the election of the Required Lenders, at all times from and including the date on which such statements and Compliance Certificate are required to have been delivered (or the date of occurrence of such Default or Event of Default, as the case may be) to the date on which the same shall have been delivered (or such Default or Event of Default cured or waived, as the case may be), each Applicable Margin Percentage shall be determined in accordance with the above matrix as if the Leverage Ratio were greater than or equal to 0.30 : 1.0 (notwithstanding the actual Leverage Ratio). For purposes of this definition, "Adjustment Date" shall mean, with respect to any fiscal period of the Borrower beginning with the fiscal quarter ending September 30, 1998, the fifth (5th) day (or, if such day is not a Business Day, on the next succeeding Business Day) after delivery ...
Applicable Margin Percentage means, (a) at any time from and after the Closing Date, the applicable percentage to be added to the LIBOR Rate pursuant to Section 2.8 for purposes of determining the Adjusted LIBOR Rate, and (b) at any time from and after the earlier of the Closing Date and February 1, 2000, the applicable percentage to be used in calculating the commitment fee payable pursuant to Section 2.9(c), in each case as determined under the following matrix with reference to the Borrower's senior unsecured debt rating, or if the Borrower does not then have a senior unsecured debt rating, Holding's senior unsecured debt rating, by Standard & Poor's, Duff & Xxxxxx, A.M. Best, and Moody's (in each case based upon the higher of the rating of Standard & Poor's and the highest rating of the other three rating agencies): Applicable Margin Standard & Poor's/ Applicable Percentage for Duff & Xxxxxx/A.M Best/ Margin Percentage for Unutilized Level Xxxxx'x Rating LIBOR Loans Commitments Fee ----- -------------- ----------- --------------- I A-/A-/a-/A3 or above 1.000% 0.20% II BBB+/BBB+/bbb+/Baa1 1.125% 0.25% III BBB/BBB/bbb/Baa2 1.250% 0.30% IV BBB-/BBB-/bbb-/Baa3 1.500% 0.35% V Below BBB-/BBB-/bbb-/Baa3 2.500% 0.50% Notwithstanding anything set forth herein to the contrary, if at any time the difference between the senior unsecured debt rating of Standard & Poor's and the highest senior unsecured debt rating of the other three rating agencies is more than one rating grade, then for purposes of determining the applicable level set forth above, the applicable rating shall be one rating grade higher than the lower of such two ratings. If the rating system of Standard & Poor's, Duff & Xxxxxx, A.M. Best or Moody's changes, or if any such rating agency ceases to be in the business of rating corporate debt obligations, the Borrower and the Lenders agree to negotiate in good faith to amend the references to specific ratings in this definition to reflect such changed rating system or nonavailability of ratings from such rating agency.
Examples of Applicable Margin Percentage in a sentence
Until the first Adjustment Date, each Applicable Margin Percentage shall be calculated in accordance with Level 1 of the above matrix.
Until the first Adjustment Date, each Applicable Margin Percentage shall be calculated in accordance with Level 2 of the above matrix.
More Definitions of Applicable Margin Percentage
Applicable Margin Percentage means, at any time from and after the Closing Date, the applicable percentage (a) to be added to the Base Rate pursuant to SECTION 2.8 for purposes of determining the Adjusted Base Rate, (b) to be added to the IBOR Rate pursuant to SECTION 2.8 for purposes of determining the Adjusted IBOR Rate, (c) to be added to the LIBOR Rate pursuant to SECTION 2.8 for purposes of determining the Adjusted LIBOR Rate, and (d) to be used in calculating the commitment fee payable pursuant to SECTION 2.9(B), in each case as determined under the following matrix with reference to the Leverage Ratio: Applicable Margin Applicable Percentage for Applicable Margin Foreign Currency Margin Percentage for Loans and Percentage for Leverage Ratio Base Rate Loans LIBOR Loans Commitment Fee -------------- --------------- ----------- -------------- Greater than or equal to 2.5 0.500% 1.500% 0.375% to 1.0 Greater than or equal to 2.0 0.375% 1.375% 0.375% to 1.0 but less than 2.5 to 1.0 Greater than or equal to 1.5 to 0.250% 1.250% 0.250% 1.0 but less than 2.0 to 1.0 Greater than or equal to 1.0 to 0.125% 1.125% 0.250% 1.0 but less than 1.5 to 1.0 Less than 1.0 to 1.0 0.000% 1.000% 0.250%
Applicable Margin Percentage means, (a) the applicable percentage to be added to the LIBOR Rate pursuant to Section 2.8 for purposes of determining the Adjusted LIBOR Rate, and (b) the applicable percentage to be used in calculating the commitment fee payable pursuant to Section 2.9(b), in each case as determined under the following matrix with reference to the Borrower's Leverage Ratio: Applicable Margin Applicable Margin Percentage for Percentage for Unutilized Level Leverage Ratio LIBOR Loans Commitments Fee ----- --------------- ----------------- ---------------- I * 0.35:1 1.500% 0.40% II * 0.30:1***.35:1 1.250% 0.30% III * 0.25:1***.30:1 1.00% 0.20% IV ** 0.25:1 0.90% 0.15% * more than or equal to ** less than or equal to *** less than Initially, the Applicable Margin Percentages shall be determined by reference to Level III in the matrix above. On the Business Day after the date each Compliance Certificate is required to be delivered pursuant to Section 5.3, the Applicable Margin Percentage for all LIBOR Loans payable pursuant to Section 2.8(a)(ii) and the commitment fee payable pursuant to Section 2.9(b) shall be adjusted effective as of such date in accordance with the above matrix and the Leverage Ratio as calculated in such Compliance Certificate. If the required Compliance Certificate is not delivered on or prior to any date such delivery is required pursuant to Section 5.3, then during the period from the first Business Day after such date to the date such Compliance Certificate is delivered, the Applicable Margin Percentage shall be determined by reference to Level I in the matrix above.
Applicable Margin Percentage means, at any time from and after the Closing Date, 0% if such Loan is a Base Rate Loan, and 1.0% if such Loan is a LIBOR Loan, and .125% with respect to the Revolving Line of Credit Facility Fee, or as determined by Annex II as of the Closing Date; provided, however, that on each Adjustment Date, the Applicable Margin Percentage for all Loans and the Revolving Line of Credit Facility Fee shall be adjusted (based upon the calculation of the Leverage Ratio as of the last day of the fiscal period to which such Adjustment Date relates) in accordance with the matrix set forth in Annex II hereto; and provided further that, notwithstanding the foregoing or anything in Annex II to the contrary, if at any time the Borrower shall have failed to deliver the financial statements and certificates required by SECTION 6.1 hereof, or if at any time a Default or Event of Default shall have occurred and be continuing, then at all times from and including the date on which such statements and certificates are required to have been delivered (or the date of occurrence of such Default or Event of Default, as the case may be) to the date on which the same shall have been delivered (or such Default or Event of Default cured or waived, as the case may be), each Applicable Margin Percentage shall be determined in accordance with Annex II as if the Leverage Ratio were greater than or equal to 3.5 to 1.0 (notwithstanding the actual Leverage Ratio). For purposes of this definition, "Adjustment Date" shall mean, with respect to any fiscal quarter or fiscal year of the Borrower beginning with the fiscal quarter ending March 31, 1997, the fifth (5th) Business Day after receipt by the Agent in accordance with SECTION 6.1 of financial statements for the most recently completed such fiscal period and the required certificate with respect to such fiscal period.
Applicable Margin Percentage means, at any time from and after the Closing Date, the applicable percentage (a) to be added to the Base Rate pursuant to SECTION 2.8 for purposes of determining the Adjusted Base Rate, (b) to be added to the LIBOR Rate pursuant to SECTION 2.8 for purposes of determining the Adjusted LIBOR Rate, and (c) to be used in calculating the commitment fee payable pursuant to SECTION 2.9(b), in each case as determined under the following matrix with reference to the Borrower's senior unsecured debt rating by Xxxxx'x or Standard & Poor's (in each case based upon the higher of the two ratings), when available, or, if not available, then with reference to an implied senior or unsecured debt rating, if available (provided that, for purposes of this Agreement, the rating that is two levels higher than the rating of the Borrower's Trust Preferred Securities by Standard & Poor's and Xxxxx'x shall be deemed to be an implied senior or unsecured debt rating by Standard & Poor's and Xxxxx'x, respectively):
Applicable Margin Percentage means, at any time, the applicable percentage (a) to be added to the LIBOR Rate for purposes of determining the Adjusted LIBOR Rate, (b) to be used in calculating the Sterling Base Rate, and (c) to be used in calculating the Letter of Credit Fee payable pursuant to Section 2.9(d), in each case as determined under the following matrix with reference to the ratings given to the Borrower's senior unsecured long-term publicly traded Indebtedness without third party credit enhancement: Applicable Margin Rating Status Percentage for LIBOR Loans ------------- -------------------------- Level I Status 0.500% Level II Status 0.625% Level III Status 0.750% Level IV Status 0.875% For purposes of determining any Applicable Margin Percentage at any date:
Applicable Margin Percentage means, at any time from and after the Amendment Effective Date, 0.0% if such Revolving Loan is an ABR Loan and 1.0% if such Revolving Loan is a LIBOR Loan; provided, however, that on each Adjustment Date, the Applicable Margin Percentage for all Revolving Loans shall be adjusted effective as of such date (based upon the calculation of the ratio of Consolidated Funded Debt to Annualized EBITDA as of the last day of the fiscal period to which such Adjustment Date relates) in accordance with (i) matrix A set forth in Annex I hereto for any such fiscal periods ending prior to the successful consummation of a Qualified Public Offering or (ii) matrix B set forth in Annex I hereto for any such fiscal periods ending concurrently with or any time after the successful consummation of a Qualified Public Offering; and provided further that, notwithstanding the foregoing or anything in Annex I to the contrary, (A) if at any time the Borrower shall have failed to deliver the financial statements and a Compliance Certificate as required by SECTION 6.1(a) or SECTION 6.1(b) (as the case may be) and SECTION 6.2(a), then at all times from and including the date on which such statements and Compliance Certificate are required to have been delivered to the date on which the same shall
Applicable Margin Percentage means, at any time from and after the Restatement Effective Date, the applicable margin percentage (i) to be added to the LIBOR Market Index Rate and the LIBOR Rate pursuant to Section 2.8 for purposes of determining the Adjusted LIBOR Market Index Rate and the Adjusted LIBOR Rate, as the case may be, (ii) to be added to the Base Rate pursuant to Section 2.8 for the purpose of determining the Adjusted Base Rate and (iii) to be used in calculating the commitment fee payable pursuant to Section 2.9(a), in each case as determined under the following matrix with reference to the ratio of Consolidated Debt to Consolidated Total Capitalization: Level Consolidated Debt to Consolidated Total Capitalization Applicable Margin Percentage for LIBOR Loans and LIBOR Market Index Loans Applicable Margin Percentage for Base Rate Loans Commitment Fee 1 Less than 0.20 to 1.00 1.000 % 0.000 % 0.125 % 2 Greater than or equal to 0.20 to 1.00 but less than 0.40 to 1.00 1.125 % 0.125 % 0.150 % 3 Greater than or equal to 0.40 to 1.00 but less than 0.50 to 1.00 1.250 % 0.250 % 0.175 % 4 Greater than or equal to 0.50 to 1.00 1.500 % 0.500 % 0.200 % On each Adjustment Date (as hereinafter defined), the Applicable Margin Percentage for all Loans and the commitment fee payable pursuant to Section 2.9(a) shall be adjusted effective as of such date (based upon the calculation of the Consolidated Debt to Consolidated Total Capitalization as of the last day of the fiscal period to which such Adjustment Date relates) in accordance with the above matrix; provided, however, that, notwithstanding the foregoing or anything else herein to the contrary, if at any time the Borrower shall have failed to deliver the financial statements and a Compliance Certificate as required by Section 6.1(a) or Section 6.1(b), as the case may be, and Section 6.2(a), or if at any time an Event of Default shall have occurred and be continuing, then at the election of the Required Lenders, at all times from and including the date on which such statements and Compliance Certificate are required to have been delivered (or the date of occurrence of such Event of Default, as the case may be) to the