Floor Plan Applicable Rate definition

Floor Plan Applicable Rate means, from time to time, the following percentages per annum, based upon the Consolidated Current Ratio as set forth below:
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Floor Plan Applicable Rate means, from time to time, the following percentages per annum, based upon the Consolidated Current Ratio as set forth below: ​ ​ ​ I Greater than 1.300 to 1.000 1.90% 0.40% II Greater than 1.250 to 1.000 but less than or equal to 1.300 to 1.000 2.05% 0.55% III Greater than 1.220 to 1.000 but less than or equal to 1.250 to 1.000 2.15% 0.65% IV Greater than 1.200 to 1.000 but less than or equal to 1.220 to 1.000 2.35% 0.85% V Less than or equal to 1.200 to 1.000 2.50% 1.00% ​ provided, in each case, that (i) commencing on the Effective Date, the Applicable Rate for Floor Plan Loans will be 1.90% in the case of Floor Plan Loans that are Floating BSBY Rate Loans, and 0.40% in the case of Floor Plan Loans that are Base Rate Loans and (ii) commencing in October 2021, the Applicable Rate for any month shall be determined by reference to the applicable grid above and the Consolidated Current Ratio as set forth in the most recent monthly Compliance and Borrowing Base Certificate (each, a “Monthly Compliance and Borrowing Base Certificate”) received by the Administrative Agent pursuant to Section 6.02 delivered with the financial statements delivered pursuant to Section 6.01(a) for the monthly period then ended. Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Current Ratio shall become effective as of the first day (the “Rate Change Effective Date”) of the calendar month immediately following the date a Monthly Compliance and Borrowing Base Certificate is delivered pursuant to Section 6.02 (but, in each case, the resulting Applicable Rate on such Rate Change Effective Date shall be based on the grid in effect on such Rate Change Effective Date, and the Applicable Rate on any subsequent date shall be based on the grid in effect on such date); provided, however, that if a Compliance and Borrowing Base Certificate is not delivered when due in accordance with such Section, then Pricing Level V shall apply as of the first day of the calendar month after the date on which such Compliance and Borrowing Base Certificate was required to have been delivered until the first day of the calendar month after the date a Compliance and Borrowing Base Certificate is timely delivered (but nothing contained in this definition shall be deemed to waive any Default arising from the failure to deliver any Compliance and Borrowing Base Certificate when due); provided further that (subject to the preceding proviso) the Floor Plan Applicable Rate f...
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Related to Floor Plan Applicable Rate

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Applicable Rate means a percentage per annum equal to:

  • Applicable Fee Percentage means, as of any date of determination thereof, the applicable percentage used to calculate certain of the fees due and payable hereunder, determined by reference to the appropriate columns in the Pricing Matrix attached to this Agreement as Schedule 1.1.

  • Hurdle Rate means the minimum annual rate of return over the Net Asset Value at launch, or the beginning of the relevant Performance Period, as applicable, that must be achieved before an Equalisation Performance Fee is applied (details of which are set out in the section headed “Unit Class Information” in the Supplement for the relevant Fund where applicable). This rate is accrued at each Valuation Point.

  • Applicable Fee Rate means, at any time, the percentage rate per annum at which Commitment Fees are accruing on the unused portion of the Aggregate Commitment at such time as set forth in the Pricing Schedule.