Drawn Margin definition
Drawn Margin has the meaning set forth in the Fee Letter.
Drawn Margin means, for any loans made under the Syndicated Credit Agreement or any amendment and restatement thereof or any new credit facility of the Borrower that replaces the credit facility under the Syndicated Credit Agreement, the sum of (a) the applicable margin for such loans bearing interest by reference to the Eurodollar Rate and (b) the facility fees, if any, payable to the lenders under any such credit facility in respect of their commitments to make such loans, to the extent such facility fees are payable whether or not such commitments are drawn. By way of example, the Drawn Margin for the Syndicated Credit Agreement as of the date hereof is 1.125% for Ratings of ▇▇▇▇▇ ▇ thereunder, 1.250% Ratings of Level 2 thereunder, 1.50% for Rating of Level 3 thereunder, 1.75% for Ratings of Level 4 thereunder and 2.00% for Ratings of Level 5 thereunder.
Drawn Margin means 2.15% per annum.
Examples of Drawn Margin in a sentence
The principal amount outstanding for each Revolving Loan Advance shall accrue interest at a floating per annum rate equal to the sum of (i) the Benchmark rate plus (ii) the Drawn Margin, which interest shall be payable in accordance with Section 2.3(c) below.
More Definitions of Drawn Margin
Drawn Margin shall have the meaning specified in Section 1.01 of the Note Purchase Agreement.