Eurodollar Spread means, on any date and with respect to each Eurodollar Advance, the applicable rate per annum set forth in Schedule A based on the applicable Rating Level and Debt/Capitalization Ratio on such date.
Eurodollar Spread or "Facility Fee Rate", as the case may be, based upon the ratings by Xxxxx'x and S&P, respectively, applicable on such date to the Index Debt: ===================================================== Eurodollar Facility Fee ========== ============ Index Debt Ratings: Spread Rate ------------------- ------ ---- Category 1 0.190% 0.060% ---------- (less than/equal to)A/A2 ----------------------------------------------------- Category 2 0.305% 0.070% ---------- A-/A3 ----------------------------------------------------- Category 3 0.400% 0.100% ---------- BBB+/Baa1 ----------------------------------------------------- Category 4 0.500% 0.125% ---------- BBB/Baa2 ----------------------------------------------------- Category 5 0.700% 0.175% ---------- (greater than/equal to)BBB-/Baa3 ===================================================== For purposes of the foregoing, (a) if either Xxxxx'x or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence of this definition) the Applicable Rate shall be determined on the basis of the rating agency that does then have a rating for the Index Debt in effect, (b) if neither Xxxxx'x nor S&P has in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence of this definition) then the Index Debt shall be deemed to be rated in Category 5, (c) the Index Debt shall be deemed to be rated in Category 5 at any time that an Event of Default has occurred and is continuing, (d) if the ratings established or deemed to have been established by Xxxxx'x or S&P for the Index Debt are not in the same Category, then the Applicable Rate will be determined by reference to the Category next above that of the lower of the two ratings and (e) if the ratings established or deemed to have been established by Xxxxx'x and S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of Xxxxx'x or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in an Applicable Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of Xxxxx'x or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, the Borrower and the Lenders ...
Eurodollar Spread means two and 25/100 percent (2.25%).
Examples of Eurodollar Spread in a sentence
Any change in the Eurodollar Spread attributable to a change in the Debt/Capitalization Ratio, if any, shall be effective on the forty-fifth (45th) day following the end of the calendar quarter in which occurred a change in Debt/Capitalization Ratio.
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In the event the Debt Ratings from the Rating Agencies are not equivalent, the Eurodollar Spread (bps) will be determined (i) based on the higher of the two Debt Ratings if the lower Debt Rating is no more than one level lower than the higher Debt Rating, and (ii) based on the level that is one rating level higher than the lower Debt Rating if the lower Debt Rating is more than one level lower than the higher Debt Rating.
In the case of a Eurodollar Advance the maturity of which is accelerated, such Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period, at the higher of (i) the rate (including the Eurodollar Spread or the Competitive Bid Margin, as applicable) otherwise applicable to such Interest Period plus 2% per annum or (ii) the Alternate Base Rate plus 2% per annum.
Adjustments in the Eurodollar Spread (bps) for a Eurodollar Rate Loan based upon a change in a Debt Rating level shall be effective on the first day following the change in such Debt Rating.
More Definitions of Eurodollar Spread
Eurodollar Spread means 102.37 basis points (1.0237%).
Eurodollar Spread. COMMITMENT FEE RATE" or "LETTER OF CREDIT FEE RATE", as the case may be, based upon the Applicable Leverage Ratio for such Performance Period (or portion thereof): REVOLVING LOANS AND TRANCHE A TERM LOANS ABR EURODOLLAR COMMITMENT LETTER OF CREDIT APPLICABLE LEVERAGE RATIO: SPREAD SPREAD FEE RATE FEE RATE -------------------------- ------ ------ -------- -------- /greater than/5.50 TO 1 0.750% 2.000% 0.500% 1.750% /greater than/5.25 TO 1 AND /less than or equal to/5.50 TO 1 0.500% 1.750% 0.500% 1.500% /greater than/4.75 TO 1 AND /less than or equal to/5.25 TO 1 0.250% 1.500% 0.375% 1.250% /greater than/4.25 TO 1 AND /less than or equal to/4.75 TO 1 0% 1.250% 0.375% 1.000% /greater than/3.75 TO 1 AND /less than or equal to/4.25 TO 1 0% 1.125% 0.300% 0.875% /greater than/3.25 TO 1 AND /less than or equal to/3.75 TO 1 0% 1.000% 0.300% 0.750% /greater than/2.75 TO 1 AND /less than or equal to/3.25 TO 1 0% 0.750% 0.250% 0.500% /less than or equal to/2.75 TO 1 0% 0.625% 0.200% 0.500% TRANCHE B TERM LOANS APPLICABLE LEVERAGE RATIO: ABR SPREAD EURODOLLAR SPREAD -------------------------- ---------- ----------------- /greater than/5.50 TO 1 1.000% 2.250% /greater than/5.25 TO 1 AND /less than or equal to/ 5.50 TO 1 0.750% 2.000% /less than or equal to/5.25 TO 1 0.500% 1.750% The Applicable Rates set forth above shall apply to interest and fees accruing under the Credit Agreement on and after the date hereof.
Eurodollar Spread or "Commitment Fee Rate", as the case may be, based upon the Leverage Ratio as of the most recent determination date, provided that until the delivery to the Administrative Agent, pursuant to Section 5.01(b), of Holdings's consolidated financial statements for Holdings's first fiscal quarter ending after the Effective Date, the "Applicable Margin" for purposes of clause (b) above shall be the applicable margin per annum set forth below in Category 1: -------------------------------------------------------------------------------- ABR Eurodollar Commitment Fee Leverage Ratio: Spread Spread Rate -------------------------------------------------------------------------------- Category 1 Equal to or greater 1.50% 2.50% 0.50% than 1.00 to 1.00 -------------------------------------------------------------------------------- Category 2 Less than 1.00 to 1.00 1.25% 2.25% 0.50% but equal to or greater than 0.50 to 1.00 -------------------------------------------------------------------------------- Category 3 Less than 0.50 to 1.00 1.00% 2.00% 0.50% but equal to or greater than 0.25 to 1.00 -------------------------------------------------------------------------------- Category 4 0.75% 1.75% 0.50% Less than 0.25 to 1.00 -------------------------------------------------------------------------------- For purposes of the foregoing, (a) the Leverage Ratio shall be determined as of the end of each fiscal quarter of Holdings's fiscal year based upon Holdings's consolidated financial statements delivered pursuant to Section 5.01(a) or (b) and (b) each change in the Applicable Margin resulting from a change in the Leverage Ratio shall be effective during the period commencing on and including the first Business Day after the date of delivery to the Administrative Agent of such consolidated financial statements indicating such change and ending on the date immediately preceding the effective date of the next such change, provided that the Leverage Ratio shall be deemed to be in Category 1 (i) at any time that an Event of Default has occurred and is continuing or (ii) at the option of the Administrative Agent or at the request of the Required Lenders if Holdings fails to deliver the consolidated financial statements required to be delivered by it pursuant to Section 5.01(a) or (b), during the period from the expiration of the time for delivery thereof until such consolidated financial statements are delivered.
Eurodollar Spread means the amount as set forth below: Term Facility Revolving Facility Status ------------- ------------------ ------
Eurodollar Spread means eleven-twentieths of one percent ----------------- (0.55%).
Eurodollar Spread means, with respect to each Committed Eurodollar Loan: -----------------
Eurodollar Spread or "Commitment Fee Rate", as the case may be, based upon the Leverage Ratio as of the most recent determination date; provided that until the delivery to the Administrative Agent, pursuant to Section 5.01(b), of Borrower's consolidated financial statements for Borrower's first full fiscal quarter commencing after the Third Restatement Effective Date, the "Applicable Rate" shall be the applicable rate per annum set forth below in Category 1: