Interest and Applicable Margins Clause Samples
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum, based on the aggregate Revolving Credit Advances outstanding from time to time; (ii) with respect to the Term Loan, the Index Rate plus the Applicable Term Loan Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Term Loan LIBOR Margin per annum; and (iii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum. The Applicable Margins are as follows: Applicable Revolver Index Margin 3.00 % Applicable Revolver LIBOR Margin 4.00 % Applicable Term Loan Index Margin 3.00 % Applicable Term Loan LIBOR Margin 4.00 %
(b) If any payment on any Loan becomes due and payable on a day other than a Business Day, the maturity thereof will be extended to the next succeeding Business Day (except as set forth in the definition of LIBOR Period) and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension.
(c) All computations of Fees calculated on a per annum basis and interest shall be made by Agent on the basis of a 360-day year (or, in the case of interest on Index Rate Loans, a 365 or 366 day year, as applicable), in each case for the actual number of days occurring in the period for which such interest and Fees are payable. The Index Rate is a floating rate determined for each day. Each determination by Agent of an interest rate and Fees hereunder shall be final, binding and conclusive on Borrower, absent manifest error.
(d) So long as an Event of Default has occurred and is continuing, the interest rates applicable to the Loans shall be increased by two percentage points (2%) per annum above the rates of interest otherwise applicable hereunder (“Loan Default Rate”), and all outstanding Loans shall bear interest at the Loan Default Rate applicable to such Loans. Interest at the Loan Default Rate shall accrue from the initial date of such Event of Default until that Event of Default is cured or waived and shall be payable upon demand. Any other amounts payable hereunder...
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum, based on the aggregate Revolving Credit Advances outstanding from time to time; and (ii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum. As of the Closing Date, the Applicable Margins are as follows: ------------------------------------------------------ Applicable Revolver Index Margin 1.75% ------------------------------------------------------ Applicable Revolver LIBOR Margin 3.00% ------------------------------------------------------ Applicable L/C Margin 3.00% ------------------------------------------------------ The Applicable Margins shall be adjusted (up or down) prospectively on a quarterly basis as determined by Borrower's consolidated financial performance, commencing with the first day of the first calendar month that occurs more than 5 days after delivery of Borrower's quarterly Financial Statements to Lenders for the Fiscal Quarter ending September 30, 2003. Adjustments in Applicable Margins shall be determined by reference to the following grids: ---------------------------------------------------------------------- If Total Leverage Level of Ratio is: Applicable Margins: ---------------------------------------------------------------------- >=4.75 to 1.0 Level I ---------------------------------------------------------------------- >=4.00 to 1.0, but Level II <4.75 to 1.0 ---------------------------------------------------------------------- <4.00 to 1.0 Level III ---------------------------------------------------------------------- ---------------------------------------------------------------------- Applicable Margins ---------------------------------------------------------------------- Level I Level II Level III ---------------------------------------------------------------------- Applicable Revolver Index Margin 2.00% 1.75% 1.50% ---------------------------------------------------------------------- Applicable Revolver LIBOR Margin 3.25% 3.00% 2.75% ---------------------------------------------------------------------- Applicable L/C M...
Interest and Applicable Margins. (a) The Borrower shall pay interest to Agent, for the ratable benefit (subject to Section 9.9(c)) of Lenders in accordance with the various Revolving Loan Advances being made by each Lender, in arrears on each applicable Interest Payment Date, at the Index Rate plus the Applicable Index Margin per annum, or, at the election of the Borrower, the applicable LIBOR Rate plus the Applicable LIBOR Margin per annum. The Applicable Margins are as follows: Applicable Index Margin 7.50% Applicable LIBOR Margin 8.50%
(b) If any payment on the Revolving Loan becomes due and payable on a day other than a Business Day, the maturity thereof will be extended to the next succeeding Business Day (except as set forth in the definition of LIBOR Period) and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension.
(c) All computations of Fees calculated on a per annum basis and interest shall be made by Agent on the basis of a 360-day year (or, in connection with the calculation of interest in respect of Index Rate Loans, a 365 or 366-day year, as applicable), in each case for the actual number of days occurring in the period for which such interest and Fees are payable. The Index Rate is a floating rate determined for each day. Each determination by Agent of an interest rate and Fees hereunder shall be presumptive evidence of the correctness of such rates and Fees.
(d) So long as an Event of Default has occurred and is continuing under Section 8.1(a) or so long as any other Event of Default has occurred and is continuing and at the written request of Requisite Lenders to Agent, confirmed by written notice from Agent to the Borrower, and without further notice, motion or application to, hearing before, or order from the Bankruptcy Court, the interest rates applicable to the Revolving Loan Advances shall be increased by two percentage points (2%) per annum above the rates of interest or the rate of such Fees otherwise applicable hereunder (the “Default Rate”), and all outstanding Obligations shall bear interest at the Default Rate applicable to such Obligations. Interest at the Default Rate shall accrue from the initial date of such Event of Default until that Event of Default is cured or waived and shall be payable upon demand.
(e) Subject to the conditions precedent set forth in Section 2.2, the Borrower shall have the option to (i) request that any Revolving Loan Advance be made as a LIBOR Loan, (ii) convert ...
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, or Revolving Credit Agent, as appropriate, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Base Rate plus the Applicable Revolver Base Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum, based on the aggregate Revolving Credit Advances outstanding from time to time; and (ii) with respect to the Term Loan, the Base Rate plus the Applicable Term Loan Base Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Term Loan LIBOR Margin per annum. As of the Closing Date, the Applicable Revolver Base Margin, Applicable Term Loan Base Margin, Applicable Revolver LIBOR Margin, Applicable Term Loan LIBOR Margin, and Applicable L/C Margin will be 2.00%, 2.00%, 3.50%, 3.50%, and 3.50% per annum, respectively. The Applicable Margins will be adjusted (up or down) prospectively on a quarterly basis as determined by Borrower's consolidated financial performance, commencing with the first day of the first calendar month that occurs more than three (3) Business Days after delivery of Borrower's quarterly Financial Statements to Lenders for the Fiscal Quarter ending June 30, 2001. Adjustments in Applicable Margins will be determined by reference to the following grids:
2.75:1 Level I > or = 2.50:1, but <2.75:1 Level II > or = 2.25:1, but <2.50:1 Level III > or = 2.00:1, but <2.25:1 Level IV > or = 1.75:1, but <2.00:1 Level V <1.75:1 Leve▇ ▇▇ ▇▇▇▇▇ ▇ ▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ LEVEL IV LEVEL V LEVEL VI ------- -------- --------- -------- ------- -------- Applicable 2.25% 2.00% 1.75% 1.50% 1.25% 1.00% Revolver Base Margin Applicable 3.75% 3.50% 3.25% 3.00% 2.75% 2.50% Revolver LIBOR Margin Applicable Term 2.25% 2.00% 1.75% 1.50% 1.25% 1.00% Loan Base Margin Applicable Term 3.75% 3.50% 3.25% 3.00% 2.75% 2.50% Loan LIBOR Margin Applicable L/C 3.75% 3.50% 3.25% 3.00% 2.75% 2.50% Margin Concurrently with the delivery of those Financial Statements, Borrower shall deliver to Agent and Lenders a certificate, signed by a Responsible Financial Officer of Borrower, setting forth in reasonable detail the basis for the continuance of, or any change in, the Applicable Margins. Failure to timely deliver such Financial Statements shall, in addition to any other re...
Interest and Applicable Margins. (a) Borrowers shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Index Rate plus the Applicable Index Margin per annum or, at the election of Borrower Representative, the Applicable LIBOR Rate plus the Applicable LIBOR Margin per annum, based on the aggregate Revolving Credit Advances outstanding from time to time; and (ii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Index Margin per annum. As of the Restatement Date, the Applicable Margins are as follows: Applicable Index Margin 0.00% Applicable LIBOR Margin 1.50% Applicable L/C Margin 1.50% Applicable Unused Line Fee Margin 0.375% The Applicable Margins shall be adjusted (up or down) prospectively on a quarterly basis as determined by Borrowers' consolidated financial performance, commencing with the first day of the first calendar month that occurs more than five (5) days after delivery of Borrowers' quarterly Financial Statements to Lenders for the Fiscal Quarter ending March 31, 2004. Adjustments in Applicable Margins shall be determined by reference to the following grids: IF FIXED CHARGE LEVEL OF COVERAGE RATIO IS: APPLICABLE MARGINS: ----------------- ------------------ > 5.25:1.00 Level I < or = 5.25:1.00, but > 4.25:1.00 Level II < or = 4.25:1.00, but > 3.25:1.00 Level III < or = 3.25:1.00, but > 1.00:1.00 Level IV < or = 1.00:1.00 Level V APPLICABLE MARGINS -------------------------------------------------------------- LEVEL I LEVEL II LEVEL III LEVEL IV LEVEL V ------- -------- --------- -------- ------- Applicable Index Margin 0.00% 0.00% 0.25% 0.50% 1.00% Applicable LIBOR Margin 1.25% 1.50% 1.75% 2.00% 2.50% APPLICABLE MARGINS -------------------------------------------------------------- LEVEL I LEVEL II LEVEL III LEVEL IV LEVEL V ------- -------- --------- -------- ------- Applicable L/C Margin 1.25% 1.50% 1.75% 2.00% 2.50% Applicable Unused Line Fee Margin 0.25% 0.375 0.375 0.50% 0.50% All adjustments in the Applicable Margins after March 31, 2004 shall be implemented quarterly on a prospective basis, for each calendar month commencing at least five (5) days after the date of delivery to Lenders of the quarterly unaudited or annual audited (as applicable) Financial Statements evidencing the need for an adjustment. Concurrently with the delivery of those Fin...
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum, based on the aggregate Revolving Credit Advances outstanding from time to time; and (ii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum. As of the Closing Date, the Applicable Margins are as follows: Applicable Revolver Index Margin 1.75% Applicable Revolver LIBOR Margin 3.00% Applicable L/C Margin 3.00% The Applicable Margins shall be adjusted (up or down) prospectively on a quarterly basis as determined by Borrower's consolidated financial performance, commencing with the first day of the first calendar month that occurs more than 5 days after delivery of Borrower's quarterly Financial Statements to Lenders for the Fiscal Quarter ending September 30, 2003. Adjustments in Applicable Margins shall be determined by reference to the following grids: If Total Leverage Level of Ratio is: Applicable Margins: -------- ------------------ > or =4.75 to 1.0 Level I > or =4.00 to 1.0, but Level II <4.75 to 1.0
Interest and Applicable Margins. 4 1.3. Fees...........................................................................................6 1.4. Payments.......................................................................................7 1.5. Prepayments....................................................................................8 1.6. Maturity.......................................................................................9
Interest and Applicable Margins. Eligible Accounts
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum, based on the aggregate Revolving Credit Advances outstanding from time to time; (ii) with respect to the Term Loan, the Index Rate plus the Applicable Term Loan Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Term Loan LIBOR Margin per annum; and (iii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum. The Applicable Revolver Index Margin, Applicable Revolver LIBOR Margin, Applicable Term Loan Index Margin, Applicable Term Loan LIBOR Margin and Applicable Unused Line Fee Margin, will be 0.0%, 1.5%, 0.0%, 1.5% and 0.25% per annum, respectively, as of the Effective Date. The Applicable Margins will be adjusted (up or down) prospectively on a quarterly basis as determined by Borrower's consolidated financial performance for the trailing twelve months most recently ended, commencing at least five (5) days after the date of delivery of Borrower's quarterly Financial Statements to Agent for the Fiscal Quarter ending April 4, 1999. Adjustments in Applicable Margins will be determined by reference to the following grids: IF CONSOLIDATED TOTAL FUNDED LEVEL OF INDEBTEDNESS COVERAGE RATIO IS APPLICABLE MARGINS: ------------------------------ ------------------- less than 2.5:1 Level I greater than or equal to 2.5:1 but less than or equal to 3.0:1 Level II greater than 3.0:1 Level III APPLICABLE MARGINS ------------------------------- LEVEL I LEVEL II LEVEL III ------- -------- --------- Applicable Revolver Index Margin 0.000% 0.000% 0.000% Applicable Revolver LIBOR Margin 1.500% 1.750% 2.000% Applicable Term Loan Index Margin 0.000% 0.000% 0.000% Applicable Term Loan LIBOR Margin 1.500% 1.750% 2.000% Applicable Unused Line Fee Margin 0.250% 0.250% 0.375% [EXECUTION VERSION] All adjustments in the Applicable Margins after April 4, 1999, will be implemented quarterly on a prospective basis, for each calendar month commencing at least five (5) days after the date of delivery of the quarterly unaudited or annual audited (as a...
Interest and Applicable Margins. On and after the Effective Date: