Applicable Margin to Revolving Loan definition

Applicable Margin to Revolving Loan means the percentage rate set forth in the table below corresponding to the level (each, a “Level”) into which the Borrower’s Leverage Ratio then falls:
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Applicable Margin to Revolving Loan means the percentage rate set forth in the table below corresponding to the level (each, a “Level”) into which the Borrower’s Leverage Ratio then falls: Level Leverage Ratio Applicable Margin (per annum) 1 Less than 1.00 to 1:00 1.00% 2 Equal to 1.00 to 1.00 but less than 2.00 to 1.00 1.25% Any change in the Borrower’s Leverage Ratio which would cause it to move to a different Level shall be effective as of the first day of the first calendar month immediately following receipt by the Bank of the Non-Default Certificate showing the Leverage Ratio has changed; provided, however, if the Borrower has not delivered the Non-Default Certificate as required by Section 6.12 hereof the Bank may, in its sole discretion, adjust the Level to the Default Rate effective as of the day following the Bank's determination that such adjustment should be made, until such time as a Non-Default Certificate as required by Section 6.12 of the Loan Agreement has been delivered by the Borrower to the Bank. NOTICE: Under no circumstances will the interest rate on the Note be more than the maximum rate allowed by applicable law (the “Maximum Rate”). Notwithstanding any other provisions herein, if any Change in Law (as hereinafter defined) shall make it unlawful for the Bank to make or maintain a LIBOR Rate loan as contemplated by this Note, the principal outstanding hereunder shall, if required by law and if the Bank so requests, be converted on the date required to make the loan evidenced by this Note legal to a loan accruing interest at a rate comparable to the former LIBOR Rate as determined by the Bank its reasonable and good faith credit judgment. The undersigned hereby indemnifies the Bank and holds the Bank harmless from any loss or expense which Bank may sustain in accordance with the Loan Agreement.
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Related to Applicable Margin to Revolving Loan

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • 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.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Applicable Margins means collectively the Applicable Revolver Index Margin, the Applicable Term Loan Index Margin, the Applicable Revolver LIBOR Margin and the Applicable Term Loan LIBOR Margin.

  • Incremental Revolving Loan has the meaning set forth in Section 2.14(b).

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Applicable Revolver LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Additional Revolving Loans means any revolving loan added hereunder pursuant to Section 2.22, 2.23 or 9.02(c)(ii).

  • Existing Revolving Loans has the meaning specified in Section 2.7(a).

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • Existing Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin I 52.50 II 62.50 III 72.50 IV 82.50 V 92.50

  • New Revolving Loan has the meaning specified in Section 2.14(a).

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • Incremental Revolving Credit Loans shall have the meaning provided in Section 2.14(b).

  • Incremental Revolving Loans has the meaning assigned to such term in Section 2.22(a).

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.