B/A Spread definition
B/A Spread means, for any day, with respect to any B/A Borrowing, the Applicable Rate that would apply to such Borrowing on such day.
B/A Spread means, at any date or for any period of determination, the B/A Spread that would be in effect on such date or during such period pursuant to the table set forth in Section 2.22 based on the rating of the Borrower's senior unsecured long-term debt.
B/A Spread or “Canadian Prime Rate Spread”, as the case may be, based upon the Borrowers’ Average Excess Availability as of the most recent determination date, provided that until the first calendar day of the month following the date of delivery to the Administrative Agent, pursuant to Section 5.1, of the Company’s consolidated financial information and related compliance certificate for the Company’s fiscal quarter ending January 31, 2012 the “Applicable Rate” shall be the applicable rate per annum set forth below in Category 3: 1 Less than or equal to $75,000,000 1.25 % 2.25 % 2.00 % 2.25 % 2 Greater than $75,000,000 but less than $150,000,000 1.00 % 2.00 % 1.75 % 2.00 % 3 Greater than or equal to $150,000,000 0.75 % 1.75 % 1.50 % 1.75 % The rates per annum set forth in the pricing grid above will each decrease by 0.25% to the extent the Borrowers’ Leverage Ratio for any reporting period is less than 2.0 to 1, which decrease shall be effective only during the period described below. For purposes of clarity, the rates per annum in respect of each category set forth in the pricing grid above shall never be reduced by more than 0.25% at any point during the term of this Agreement. For purposes of the foregoing and subject to the foregoing proviso, (a) the Applicable Rate shall be determined as of the end of each fiscal quarter of the Borrowers upon the Administrative Agent’s receipt of such consolidated financial statements and related compliance certificate based upon the Borrowers’ Average Excess Availability for the preceding fiscal quarter and Leverage Ratio determined for the period of four consecutive fiscal quarters ending on the last day of the preceding fiscal quarter and (b) each change in the Applicable Rate resulting from a change in the Borrowers’ Average Excess Availability or Leverage Ratio shall be effective during the period commencing on and including the first calendar day of the month following the date of delivery to the Administrative Agent of such consolidated financial statements and related compliance certificate and ending on the date immediately preceding the effective date of the next such change; provided that to the extent the pricing grid has been decreased by 0.25% pursuant to the foregoing paragraph, the rates per annum will be re-set as set forth in the pricing grid above at the option of the Administrative Agent or at the request of the Required Lenders if the Borrowers fail to deliver the annual or quarterly consolidated financial ...
Examples of B/A Spread in a sentence
Any decrease in the Facility Fee or applicable LIBOR Spread and B/A Spread shall be effective on the date of announcement or publication by either of such rating agencies of an increase in rating or in the absence of announcement or publication on the effective date of such increase in rating.
In the event that the Borrower's senior unsecured long-term debt is not rated by either S&P or Moody's, ▇▇▇▇ ▇▇e Facility Fee and the applicable LIBOR Spread and B/A Spread shall be deemed to be calculated as if the lowest rating category set forth above applied.
More Definitions of B/A Spread
B/A Spread for any day, with respect to any B/A Borrowing, the Applicable Margin that would apply to such Borrowing on such day if such Borrowing were a Eurodollar Loan under the US$ Revolving Credit Facility.
B/A Spread means, for any day, with respect to any B/A Borrowing, the LIBOR Margin that would apply to such Borrowing on such day if such Borrowing were a Tranche A Term Borrowing.