Floating Rate Tranche Margin definition

Floating Rate Tranche Margin means, subject to any revision pursuant to Subsection 4.9.3 hereof, (a) for the period beginning on May 1, 2008 and ending on September 26, 2009 (i) 275 basis points during any period that Borrower’s Debt to EBITDA ratio, as set forth in the most recent Compliance Certificate, is greater than or equal to 4.5x; (ii) 225 basis points during any period that Borrower’s Debt to EBITDA ratio, as set forth in the most recent Compliance Certificate, is greater than or equal to 3.0x, but less than 4.5x; and (iii) 200 basis points during any period that Borrower’s Debt to EBITDA ratio, as set forth in the most recent Compliance Certificate, is less than 3.0x; and (b) after September 26, 2009 (i) 175 basis points during any period that Borrower’s Debt to EBITDA ratio, as set forth in the most recent Compliance Certificate, is greater than 3.0x; and (ii) 150 basis points during any period that Borrower’s Debt to EBITDA ratio, as set forth in the most recent Compliance Certificate, is less than or equal to 3.0x. For the purposes of determining the Floating Rate Tranche Margin, Borrower’s EBITDA shall be determined on a rolling four (4) Fiscal Quarter basis.
Floating Rate Tranche Margin means, subject to any revision pursuant to Subsection 4.9.3 hereof, (a) 175 basis points during any period that Borrower’s Debt to EBITDA ratio, as set forth in the most recent Compliance Certificate, is greater than 3.0x; (b) 150 basis points during any period that Borrower’s Debt to EBITDA ratio, as set forth in the most recent Compliance Certificate, is equal to or less than 3.0x; and (c) notwithstanding the provisions of clauses (a) or (b), 175 basis points for the first twelve (12) months following the date of the initial Advance made for the purpose of acquiring any Gold Xxxx Stock. For the purposes of determining the Floating Rate Tranche Margin, Borrower’s EBITDA shall be determined on a rolling four (4) Fiscal Quarter basis.

Examples of Floating Rate Tranche Margin in a sentence

  • In the event that such parties reach agreement on the Revised Floating Rate Tranche Margin, and it is approved by the Syndication Parties as provided in Section 14.7.1(f) hereof, such Revised Floating Rate Tranche Margin shall take effect on the day after the Re-pricing Date and shall thereafter be deemed to be the Floating Rate Tranche Margin.

  • Borrower and the Administrative Agent shall negotiate in an effort to reach agreement on a revised Floating Rate Tranche Margin to take effect on the day after the Re-pricing Date (“Revised Floating Rate Tranche Margin”).

  • In the event that such parties fail to reach agreement on the Revised Floating Rate Tranche Margin which is approved by the Syndication Parties as provided in Section 14.7.1(f) hereof, Borrower shall, on or before the Banking Day coinciding with, or immediately following, the date which is thirty (30) days after the Re-pricing Date, pay in full all amounts owing under the Floating Rate Tranche of the Term Loan, and such date shall become the Maturity Date for such Floating Rate Tranche of the Term Loan.

  • For the purposes of determining the Floating Rate Tranche Margin, Borrower’s EBITDA shall be determined on a rolling four (4) Fiscal Quarter basis.

  • The Floating Rate Tranche Margin shall be in effect until the seventh anniversary of the Closing Date (“Re-pricing Date”).

  • The unpaid principal balance of the Floating Rate Tranche of the Term Loan shall bear interest at the 3-Month LIBO Rate plus the Floating Rate Tranche Margin.

Related to Floating Rate Tranche Margin

  • Floating Rate Margin means 7.50 per cent. per annum.

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin I 52.50 II 62.50 III 72.50 IV 82.50 V 92.50

  • Applicable Interest Rate Margin means (a) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (b) as to any LIBO Rate Advance, the applicable rate per annum set forth below under the caption “LIBO Rate Spread”, determined by reference to the higher of (i) the rating of Mondelēz’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Standard & Poor’s for Mondelēz) and (ii) the rating of Mondelēz’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Moody’s for Mondelēz), in each case on such date: Rating Base Rate Spread LIBO Rate Spread A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.835 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 0.940 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.045 % 1.045 % BBB by Standard & Poor’s Baa2 by Moody’s 0.150 % 1.150 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.250 % 1.250 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Interest Rate Margin shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Interest Rate Margin shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders and (z) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders, the Applicable Interest Rate Margin shall be 0.250% as to any Base Rate Advance and 1.250% as to any LIBO Rate Advance.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • Applicable Margins means collectively the Applicable Revolver Index Margin, the Applicable Term Loan Index Margin, the Applicable Revolver LIBOR Margin and the Applicable Term Loan LIBOR Margin.

  • Base Rate Margin means a rate per annum determined in accordance with the Pricing Schedule.

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • CB Floating Rate means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month LIBOR Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including the effective date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively.

  • LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • Prime Rate Margin is set forth on Schedule I hereto.

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Floating Rate Period has the meaning set forth in section 2.5(b)(ii) hereof.

  • Applicable Base Rate Margin means, with respect to ABR Loans of any Series at any time, the percentage rate per annum specified as the “Applicable Base Rate Margin” for such Series at such time, as determined pursuant to the Pricing Schedule.

  • Eurodollar Rate Reserve Percentage for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.

  • Eurodollar Margin means the percentage set forth in Schedule 1 hereto beside the then applicable Level.

  • Eurocurrency Rate Reserve Percentage for any Interest Period for all Eurocurrency Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurocurrency Rate Advances is determined) having a term equal to such Interest Period.

  • Euro-Dollar Rate means a rate of interest determined pursuant to Section 2.07(b) on the basis of a London Interbank Offered Rate.

  • Floating Rate Classes The Classes designated as either “Floating Rate” or “Inverse Floating Rate” in the Prospectus Supplement.

  • Applicable Revolver LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Applicable ABR Margin means, at any date: