Applicable Margin Rate definition
Applicable Margin Rate means, as of any date of determination, a per annum rate equal to the rate set forth below opposite the then applicable Performance Level set forth below: Performance Level Applicable Margin Rate Level 1 0.▇▇▇% Level 2 0.▇▇▇% Level 3 0.▇▇▇▇%
Applicable Margin Rate means, for any day on or after November 14, 2001, the applicable rate per annum determined with reference to the Debt Coverage Ratio as of the then most recently ended fiscal quarter as set forth below under the caption "Margin": --------------------------------------------------------- Debt Coverage Ratio Margin --------------------------------------------------------- --------------------------------------------------------- > 3.00:1.00 0.60% --------------------------------------------------------- < 3.00:1.00, but > 2.50:1.00 0.20% --------------------------------------------------------- <2.50:1.00 0.00% --------------------------------------------------------- Each of the Co-Issuers hereby jointly and severally promises to pay to the Payee, to the extent permitted by law, interest on any overdue payment (including any overdue prepayment) of principal, interest or any Make-Whole Amount (as defined in the Note Purchase Agreements referred to below), payable as aforesaid (or, at the option of the registered holder hereof, on demand), at a rate per annum (the "Default Rate") from time to time equal to the greater of (i) 2% per annum plus the rate announced from time to time in the Wall Street Journal as the prime rate or (ii) 2% per annum plus the Coupon Rate plus the Applicable Margin Rate. Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States of America at the office of Drew Industries Incorporated, 200 Mamaroneck Avenue, White Plains, New York 10601, or at such oth▇▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇.▇ ▇▇ ▇▇▇ Note Purchase Agreements referred to below, in each case subject to the right of the registered holder hereof under said Note Purchase Agreements to receive direct payment in immediately available funds. This Note is one of a series of Senior Notes (herein called the "Notes") issued pursuant to separate Note Purchase Agreements, dated as of January 28, 1998 (as from time to time amended, the "Note Purchase Agreements"), between the Co-Issuers and the respective Purchasers named therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, (i) to have agreed to the confidentiality provisions set forth in Section 22 of the Note Purchase Agreements and (ii) to have made the representation set forth in Section 7 of the Note Purchase Agreements. This Note is a registered Note and, as provided in the Note P...
Applicable Margin Rate means the applicable rate corresponding to such Eligible Collateral Asset and the Discount Margin thereof as set forth below: Private Credit Loans Less than 450 1.60% per annum Greater than or equal to 450 but less than 630 1.90% per annum Greater than or equal to 630 but less than or equal to 700 2.25% per annum Greater than 700 2.75% per annum All other Eligible Collateral Assets that are not Broadly Syndicated Loans, Bonds or Private Credit Loans Less than 450 1.60% per annum Greater than or equal to 450 but less than 630 1.90% per annum Greater than or equal to 630 but less than or equal to 700 2.25% per annum Greater than 700 2.75% per annum provided that, the Discount Margin levels and Applicable Margin Rate percentages set forth above with respect to Private Credit Loans shall be reset by the Administrative Agent in its sole discretion (based on the information provided in the most-recent Monthly Report), on a quarterly-basis as of (x) the first Determination Date occurring after the Sixth Amendment Closing Date and (y) every third Determination Date thereafter, which reset levels and percentages may be set forth via email or via a supplement to this Agreement and shall be effective as of the applicable Determination Date (it being understood that each such quarterly reset shall only apply to Eligible Collateral Assets acquired on and after the date of such quarterly reset and prior to the date of the next succeeding quarterly reset). If the Borrower (or the Collateral Manager on behalf of the Borrower) disputes the Discount Margin determination of any Collateral Asset determined by the Administrative Agent pursuant to the preceding sentence, the Collateral Manager shall notify the Administrative Agent of such dispute at or before 2:00 p.m. on the second (2nd) Business Day to occur after the day on which the Collateral Manager receives a notice of the Administrative Agent’s determination of the Discount Margin with respect to such Collateral Asset. Upon receipt of such notification, the Administrative Agent and the Collateral Manager shall consult with each other in an attempt to resolve such dispute in a timely and reasonable manner.
Examples of Applicable Margin Rate in a sentence
If such Loan is a Eurodollar Rate Loan, a rate per annum equal at all times during the Interest Period for such Loan to the sum of the Eurodollar Rate for such Interest Period plus the then effective Applicable Margin Rate, payable on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day which occurs during such Interest Period every three months from the first day of such Interest Period.
All such capitalized amounts shall constitute principal of the Existing 2020 Term Loans and shall accrue interest at the Applicable Margin Rate, payable in accordance with this Section 2.06.
For any Interest Period with respect to Adjusted C/D Rate Amounts, an interest rate per annum determined by the Agent pursuant to the following formula: Adjusted C/D = (Domestic C/D Rate) + Assessment + Applicable Margin Rate (1.00 - Reserve Rate Percentage) The components of the fraction used to calculate the Adjusted C/D Rate shall be rounded upward, if necessary, to the next higher 1/100 of 1%.
If such Syndicated Loan is a Eurocurrency Rate Loan, a rate per annum equal at all times during the Interest Period for such Loan to the sum of the Eurocurrency Rate for such Interest Period plus the then effective Applicable Margin Rate, payable on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day which occurs during such Interest Period every three months from the first day of such Interest Period.
More Definitions of Applicable Margin Rate
Applicable Margin Rate means the applicable rate corresponding to such Eligible Collateral Asset and the Discount Margin thereof as set forth below: Asset Type Discount Margin Applicable Margin Rate provided that, the Discount Margin levels and Applicable Margin Rate percentages set fort h above with respect to Private Credit Loans shall be reset by the Adm inistrative Agent in its sole discretion (based on the inf orm ation provided in the m ost-recent Monthly Report), on a quarterly-basis as of (x) the fi rst Determ ination Date occurring after the Sixth Am endm ent Closing Date and (y) every third Determ ination Date thereafter, which reset levels and percentages may be set fort h via em ail or via a supplem ent to this Agreem ent and shall be effective as of the applicable Determ ination Date (it being understood that each such quarterly reset shall only apply to Eligible Collateral Assets acquired on and after the date of such quarterly reset and prior to the date of the next succeeding quarterly reset). If the Borrower (or the Collateral Manager on behalf of the Borrower) disputes the Discount Margin determ ination of any Collateral Asset determ ined by the Adm inistrative Agent pursuant to the preceding sentence, the Collateral Manager shall notif y the Adm inistrative Agent of such dispute at or before 2:00 p.m . on the second (2nd) Business Day to occur after the day on which the Collateral Manager receives a notice of the Adm inistrative Agent’s determ ination of the Discount Margin with respect to such Collateral Asset. Upon receipt of such notification, the Administrative Agent and the Collateral Manager shall consult with each other in an attem pt to resolve such dispute in a timely and reasonable manner.
Applicable Margin Rate means, in respect of the calculation of interest on any Eurodollar Loans, 2.00%. "Authorized Control Level Risk-Based Capital" shall mean, with respect to any Subsidiary of the Borrower which is an insurance company, the number which appears on page 21 (Five-Year Historical Data, first of two pages), line 26, column 1 of such Person's most recently filed Convention Statement.
Applicable Margin Rate means the applicable rate corresponding to such Eligible Collateral Asset and the Discount Margin thereof as set forth below: