LC Margin definition

LC Margin means the percentage set forth below under the heading "LC Margin" opposite the applicable ratio. Consolidated Funded Debt to Consolidated EBITDA LC Margin ---------------------- --------- Equal to or less than 3.00:1.00 1.00% Greater than 3.00:1.00 but equal to or 1.25% less than 4.00:1.00 Greater than 4.00:1.00 1.50% Notwithstanding the foregoing, during the period commencing the Closing Date and ending on December 31, 1998 the LC Margin shall be 1.00%. The LC Margin will be set or reset on the date which is five Business Days following the date of receipt by the Agent of the financial statements referred to in Section 6.03(a) and Section 6.03(b) together with a certificate of the Chief Financial Officer of the Company certifying the ratio of Consolidated Funded Debt to Consolidated EBITDA and setting forth the calculation thereof in detail; provided, however, (a) the LC Margin will first be reset on January 1, 1999 provided the financial statements for the fiscal quarter ending September 30, 1998 and the certificate of the Chief Financial Officer of the Company identified above are delivered to the Agent not less than five (5) Business Days prior to January 1, 1999; and (b) if any such financial statement and certificate are not received by the Agent within the time period required pursuant to Section 6.03(a) or Section 6.03(b), as the case may be, the LC Margin will be set or reset based on a ratio of Consolidated Funded Debt to Consolidated EBITDA of greater than 4.00:1:00 and subject to increase as provided in Section 3.01(e) from the date such financial statement and certificate were due until the date which is five Business Days following the receipt by the Agent of such financial statements and certificate, and provided, further, that the Lenders shall not in any way be deemed to have waived any Default or Event of Default, including without limitation, a Default or Event of Default resulting from the failure of the Company to comply with Section 7.13 of this Agreement, or any rights or remedies hereunder or under any other Loan Document in connection with the foregoing proviso. During the occurrence and continuance of a Default or Event of Default, no downward adjustments and only upward adjustments, shall be made to the LC Margin.
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LC Margin is hereby amended to delete the text "the fifth Business Day following the date of delivery of the financial statements for the third fiscal quarter ending March 28, 1999" and to insert the date "August 31, 1999" in place thereof.
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LC Margin means 2%.
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More Definitions of LC Margin

LC Margin the Applicable Margin then in effect for LIBOR Loans which are Domestic Revolving Credit Loans per annum.
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Related to LC Margin

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Note Margin With respect to each Mortgage Loan, the fixed percentage set forth in the related Mortgage Note and indicated in Exhibit One hereto as the "NOTE MARGIN," which percentage is added to the Index on each Adjustment Date to determine (subject to rounding in accordance with the related Mortgage Note, the Periodic Cap, the Maximum Mortgage Rate and the Minimum Mortgage Rate) the interest rate to be borne by such Mortgage Loan until the next Adjustment Date.

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

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

  • 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.