Letter of Credit Applicable Margin definition

Letter of Credit Applicable Margin means an interest rate spread and letter of credit fee equal to [***] basis points per annum.
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Letter of Credit Applicable Margin means 2.00%.
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Letter of Credit Applicable Margin means a percentage per annum equal to 2.75%.
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Examples of Letter of Credit Applicable Margin in a sentence

  • In addition to the foregoing, each standby Letters of Credit issued under and pursuant to this Agreement shall bear an issuance fee equal to the Letter of Credit Applicable Margin multiplied by the face amount of such standby Letter of Credit, payable by the Borrowers quarterly in arrears, until (i) such Letter of Credit has expired or has been returned to Lender, or (ii) Lender has paid the beneficiary thereunder the full face amount of such Letter of Credit.

  • In addition to the foregoing, each standby Letters of Credit issued under and pursuant to this Agreement shall bear an issuance fee equal to the Letter of Credit Applicable Margin multiplied by the face amount of such standby Letter of Credit, payable by the Borrower quarterly in arrears, until (i) such Letter of Credit has expired or has been returned to Lender, or (ii) Lender has paid the beneficiary thereunder the full face amount of such Letter of Credit.

  • The rule that this bill sets forth is an accurate statement of how intellectual property rights should be analyzed under the antitrust laws.


More Definitions of Letter of Credit Applicable Margin

Letter of Credit Applicable Margin means the rate per annum to determine the standby Letter of Credit fee as determined by the ratio of Borrowers’ consolidated Total Debt to EBITDA calculated on a trailing twelve (12) month basis as of the last day of each fiscal quarter, as set forth below:
Sample 1
Letter of Credit Applicable Margin means the rate per annum to determine the standby Letter of Credit fee as determined by the ratio of Borrower’s consolidated Total Debt to EBITDA calculated on a trailing twelve (12) month basis as of the last day of each fiscal quarter, as set forth below: Ratio of Total Debt to EBITDA Letter of Credit Applicable Margin Greater than or equal to 3.00 to 1:00 262.5 bps Greater than or equal to 2.00 to 1.00; less than 3.00 to 1.00 225 bps Greater than or equal to 1.00 to 1.00; less than 2.00 to 1.00 187.5 bps Less than or equal to 1.00 to 1:00 150 bps The Letter of Credit Applicable Margin as of the date hereof is 225 basis points and shall be adjusted as of each Interest Rate Change Date.
Sample 1
Letter of Credit Applicable Margin means the rate per annum to determine the standby Letter of Credit fee as determined by the ratio of Borrowers’ consolidated Total Debt to EBITDA calculated on a trailing twelve (12) month basis as of the last day of each fiscal quarter, as set forth below: Ratio of Total Debt to EBITDA Letter of Credit Applicable MarginGreater than or equal to 2.00 to 1.00 250 bpsGreater than or equal to 1.50 to 1.00; less than 2.00 to 1.00 225 bpsGreater than or equal to 1.00 to 1.00; less than 1.50 to 1.00 175 bpsLess than or equal to 1.00 to 1.00 125 bps The Letter of Credit Applicable Margin as of the date hereof is 175 basis points and shall be adjusted as of each Interest Rate Change Date.
Sample 1
Letter of Credit Applicable Margin means (a) on any date for which it is determined prior to the Revolving Period Commitment Termination Date and on which the ratio (expressed as a percentage) of the outstanding principal of Senior Debt, including any Revolving Loans outstanding, to the Borrowing Base then in effect shall equal those ratios set forth below, the percentage set forth opposite such ratio: Ratio of Senior Debt Letter of Credit to Borrowing Base Applicable Margin -------------------- ----------------- Greater than 75% 1.00% Greater than 60% and less than or equal to 75% .750% Greater than 40% and less than or equal to 60% .625% Less than or equal to 40% .550%
Sample 1
Letter of Credit Applicable Margin means a percentage per annum equal to the Applicable Revolver Margin for LIBOR Rate Loans.
Sample 1

Related to Letter of Credit Applicable Margin

  • Letter of Credit Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Letter of Credit Limit means $5,000,000.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $60,000,000.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Letter of Credit Fees shall have the meaning set forth in Section 3.2.

  • Letter of Credit Fee Rate means, at any time, the percentage rate per annum applicable to Letter of Credit Fees at such time as set forth in the Pricing Schedule.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • Applicable Letter of Credit Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.”

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Letter of Credit Disbursement means a payment made by Issuing Lender or Underlying Issuer pursuant to a Letter of Credit.

  • Letter of Credit Commitment means, with respect to the Issuer, the Issuer's obligation to issue Letters of Credit pursuant to Section 2.1.3 and, with respect to each of the other Lenders that has a Revolving Loan Commitment, the obligation of each such Lender to participate in such Letters of Credit pursuant to Section 2.6.1.

  • Applicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.” Applicable Margin shall mean, as applicable:

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Letter of Credit Fee has the meaning specified in Section 2.03(h).

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Letter of Credit Reserve has the meaning set forth in Section 2.1.2(d).

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $25,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.