Applicable Prime Rate Margin definition
Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).
Applicable Prime Rate Margin shall have the meaning set forth in Section 2.5.1(ii) hereof.
Applicable Prime Rate Margin and "Applicable Eurodollar Margin" shall mean the applicable rates determined in accordance with the following provisions:
Examples of Applicable Prime Rate Margin in a sentence
Interest shall accrue on each Prime Rate Loan at an annual rate equal to the Prime Rate plus the Applicable Prime Rate Margin, said rate to change contemporaneously with any change in the Prime Rate.
The rate hereunder shall change each day the Prime Lending Rate or the Applicable Prime Rate Margin changes.
All Swingline Loans shall bear interest at the Prime Rate plus the Applicable Prime Rate Margin.
Any payment not recovered from the Borrower or any other member of the Borrower Affiliated Group shall bear interest at the Prime Rate plus the Applicable Prime Rate Margin then in effect applicable to Revolving Credit Loans.
The Applicable LIBOR Rate Margin and the Applicable Prime Rate Margin and the Applicable LOC Fee will be subject to adjustment in accordance with the table set forth in this Section 3.2.5 based on Borrower’s Excess Availability for the calendar quarter then ended so long as no Event of Default is existing as of the applicable Determination Date or as of the effective date of adjustment.
More Definitions of Applicable Prime Rate Margin
Applicable Prime Rate Margin means, as of any date, one-half of one percent (0.50)%.
Applicable Prime Rate Margin means with respect to Revolving Loans, 0.75% per annum, and with respect to Term Loans, 1.0% per annum; PROVIDED that if the Debt Ratio for the applicable period ending with the then most recently ended Fiscal Quarter (as shown on the quarterly Compliance Certificate delivered pursuant to Section 7.1) is within the ranges set out below and no Default or Event of Default exists as of the end of such Fiscal Quarter (as shown on such Compliance Certificate or otherwise), the Applicable Prime Rate Margin shall be the per annum rate set out beneath the applicable type of Loan and opposite the applicable range below: ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Debt Ratio Term Loans Revolving Loans ---------------------------------------------------------------------------- LESS THAN OR EQUAL TO 3.75 : 1.0 but GREATER THAN 3.25 : 1.0 0.75% 0.50% ---------------------------------------------------------------------------- LESS THAN OR EQUAL TO 3.25 : 1.0 but GREATER THAN 2.75 : 1.0 0.50% 0.25% ---------------------------------------------------------------------------- LESS THAN OR EQUAL TO 2.75 : 1.0 0.25% 0% ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- In the event of the delivery of a Compliance Certificate showing an increase or decrease in the Debt Ratio which requires a change in the Applicable Prime Rate Margin, the change in the Applicable Prime Rate Margin shall be effective from the first day of the calendar month immediately following receipt of the Compliance Certificate (PROVIDED that the Compliance Certificate is received by the Agent no later than 3:00 P.M. New York City time at least one (1) Business Day prior to the first day of such calendar month) until the next such date on which the Applicable Prime Rate Margin is subject to change following the delivery of (or failure to deliver) a Compliance Certificate showing an increase or decrease in the Debt Ratio which requires a change in the Applicable Prime Rate Margin. The failure to deliver any Compliance Certificate by the date required hereunder (after giving effect to any applicable grace period) shall automatically cause the Applicable Prime Rate Margin to be the maximum per annum rate described above, effective as of the first day of the calendar month immediately following the...
Applicable Prime Rate Margin means, at any date of determination, the rate per annum then applicable to Prime Loans, determined in accordance with the provisions of Section 2.9(c)(ii) hereof.
Applicable Prime Rate Margin mean, with respect to any Revolving Credit Loan and the facility fee, the rates per annum set forth opposite the appropriate test in the pricing grid below: PRIME RATE LIBOR MARGIN IN MARGIN IN BASIS POINTS FACILITY FEE IN S&P Rating Basis Points Basis Points -------------------------------------------------- ---------------- ----------------- --------------------- Tier 1 - Greater than or equal to A+ 0bps 35bps 10bps -------------------------------------------------- ---------------- ----------------- --------------------- Tier 2 - Greater than or equal to A- 0bps 50bps 12.5bps -------------------------------------------------- ---------------- ----------------- --------------------- Tier 3 - Greater than or equal to BBB+ 0bps 60bps 15bps -------------------------------------------------- ---------------- ----------------- --------------------- Tier 4 - Less than BBB+ 0bps 80bps 15bps -------------------------------------------------- ---------------- ----------------- --------------------- The Applicable Facility Fee, Applicable LIBOR Rate Margin and Applicable Prime Rate Margin shall be based on the Borrower’s current senior long-term unsecured debt rating as published by S&P and as determined by the above-referenced pricing grid. Changes in the Applicable Facility Fee and Applicable Prime Rate Margin shall become effective on the date on which the rating change was announced by S&P. Changes in the Applicable LIBOR Margin shall become effective at the end of the applicable Interest Period subsequent to the date on which the rating change was announced by S&P. As of the date of this Agreement, the Borrower is currently rated A by S&P and the Applicable LIBOR Rate Margin is therefor 50 basis points and the Applicable Facility Fee is therefor 12.5 basis points.
Applicable Prime Rate Margin and “Applicable Unused Commitment Fee” means, as of any date, the applicable per annum rate shown in the applicable column in clause (vii) of Section 3.1.
Applicable Prime Rate Margin means, as of any date, with respect to a LIBOR Rate Loan, a Prime Rate Loan, or the Applicable LOC Fee, the applicable per annum rate shown in the applicable column in Section 3.2.5 based on the then applicable Excess Availability.
Applicable Prime Rate Margin as applied to any Loan that is a Prime Rate Loan, and the term “Applicable Eurodollar Rate Margin,” as applied to any Loan that is a Eurodollar Loan, means the particular rate per annum determined by the Administrative Agent in accordance with the Pricing Grid Table that appears below, based on the Borrower’s ratio of Consolidated Total Debt to Adjusted Consolidated EBITDA and such Pricing Grid Table, and the following provisions: