Definition of Applicable Term Loan Base Rate Margin


Applicable Term Loan Base Rate Margin means a rate per annum equal to 2.25%.Notwithstanding the foregoing, (a) in the case of any Incremental Term Loan maintained as a Base Rate Loan of a given Tranche, the Applicable Term Loan Base Rate Margin shall be that percentage per annum set forth in, or calculated in accordance with, Section 2.11 and the relevant Incremental Term Loan Commitment Agreement; and (b) on and after the date of the most recent incurrence of any Tranche of Incremental Term Loans which gives rise to a determination of a new Applicable Increased Term Loan Spread, the Applicable Term Loan Base Rate Margins for any Tranche of Term Loans (other than such new Tranche of Incremental Term Loans) shall be the higher of (I) the Applicable Increased Term Loan Spread for such Tranche of Term Loans and (II) the Applicable Term Loan Base Rate Margin for such Tranche of Term Loans as otherwise determined above in the absence of this clause (b).
Sample 1

Examples of Applicable Term Loan Base Rate Margin in a sentence

Except as otherwise provided in ss.5.6, the outstanding principal amount of the Term Loan shall bear interest at the rate per annum equal to the (a) the Base Rate PLUS the Applicable Term Loan Base Rate Margin on Base Rate Loans or (b) Eurodollar Rate PLUS the Applicable Term Loan Eurodollar Margin on Eurodollar Loans.