Applicable Prime Margin means that as set forth in Section 2.02(a)(ii) hereof.
Applicable Prime Margin on any date means -1.0% (minus one percent) per annum.
Applicable Prime Margin means the Initial Prime Margin or, as the case may be, the Adjusted Prime Margin.
Examples of Applicable Prime Margin in a sentence
The Adjusted Prime Rate shall be adjusted automatically on and as of the effective date of any change in the Prime Rate and/or the Applicable Prime Margin.
Adjusted Prime Rate shall mean the Prime Rate plus the Applicable Prime Margin.
The Employer agrees to deduct, by way of the payroll deduction, and remit to the applicable CLAC Remittance Team, employee voluntary pension contributions which are above and beyond those contributions outlined in Article 21.03.
Any change in the Applicable LIBOR Margin and the Applicable Prime Margin shall be effective on the date on which S&P or Moody’s, as the case may be, announces any change in any rating that results in a change in the Applicable Rating Level.
Four and one-quarter percent (4.25%).Applicable Rate: Prime Rate, but in no event less than the Prime Minimum Rate, plus the Applicable Prime Margin.
More Definitions of Applicable Prime Margin
Applicable Prime Margin shall have the meaning set forth in Section 3.1(c).
Applicable Prime Margin means one percent (1%).
Applicable Prime Margin in each case payable in cash monthly. • The DIP Lenders shall receive an undrawn facility fee equal to 0.50% of the undrawn portion of the DIP Loans, accruing daily and payable monthly in cash in arrears. • The Borrowers shall pay a fee on all outstanding DIP L/Cs at a rate per annum equal to the Applicable LIBOR Margin. • A fronting fee in an amount to be agreed on the then available face amount of each Additional L/C shall be payable monthly in arrears to the relevant Issuing Bank for its own account. • Default interest rate of an additional 2.0% per annum upon the occurrence and during the continuance of an Event of Default (as defined below), payable in cash on demand. Fees As provided in the Fee Letter among Parent Borrower, DIP Agent and the DIP Lenders. Collateral All amounts owing by the Borrowers under the DIP Credit Facility and by the Guarantors in respect thereof will be secured, subject to the Carve-Out (as defined below), by a first priority priming lien granted under section 364(d) of the Bankruptcy Code (the “DIP Liens”) on all assets of the Loan Parties (other than certain assets to be excluded, which shall be agreed by the Parent Borrower and the DIP Secured Parites) as of the DIP Effective Date (the “DIP Collateral”). Xxxxxx Drilling—DIP Term Sheet Such liens and security interests granted under the DIP Credit Facility shall be subject only to the Carve-Out.
Applicable Prime Margin means three quarters of one percent (3/4%)." 2. The following definition is added to Section 1 in alphabetical order: "'Daily Reporting Event' shall be deemed to have occurred if Availability is below $1,000,000 for five (5) days (whether or not consecutive) during any thirty (30) day period." 3. Section 8.1(c)(iv) of the Agreement is amended to read in its entirety as follows: "(iv) a borrowing base report, each in form acceptable to Bank; provided however, at all times after the occurrence of the Daily Reporting Event, updated borrowing base reports shall be due each Business Day;" 4. Section 8.11 of the Agreement is amended to read in its entirety as follows: "Maintain as of the end of each fiscal quarter an Adjusted Tangible Net Worth of not less than the following amounts during the periods specified below: September 30, 2002 through December 30, 2002 $5,150,000 December 31, 2002 through June 29, 2003 $4,500,000 June 30, 2003 and thereafter $6,000,000"
Applicable Prime Margin and "Maximum Legal Rate" are hereby added to the definitions in Section 1.01 of the Credit Agreement:
Applicable Prime Margin means the following: NOTE MARGIN ---- ------ Revolving Credit Note -.25% Term Note A 0% Term Note B 1.0%
Applicable Prime Margin as applicable, shall mean, as of any date of determination thereof, the applicable interest rate margin, determined by reference to the appropriate columns in the pricing matrix attached to this Agreement as Schedule 1.1. Adjustments to the Applicable LIBO/LIBOR Margin and the Applicable Prime Margin, based on Schedule 1.1, shall be implemented on a quarterly basis as follows: