Leverage-Based Applicable Margin means the percentage rate set forth below corresponding to the level (each, a “Level”) into which the Leverage Ratio as determined in accordance with Section 10.1(a) then falls: Level Leverage Ratio Applicable Margin for LIBOR Loans Applicable Margin for Base Rate Loans 1 Less than 4.00 to 1.00 1.45 % 0.45 % 2 Greater than or equal to 4.00 to 1.00 but less than 4.50 to 1.00 1.55 % 0.55 % 3 Greater than or equal to 4.50 to 1.00 but less than 5.00 to 1.00 1.60 % 0.60 % 4 Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00 1.75 % 0.75 % 5 Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00 1.95 % 0.95 % 6 Greater than or equal to 6.00 to 1.00 2.20 % 1.20 % The Leverage-Based Applicable Margin shall be determined by the Administrative Agent from time to time based on the Leverage Ratio as set forth in the Compliance Certificate most recently delivered by the Borrower pursuant to Section 9.3. Any adjustment to the Leverage-Based Applicable Margin shall be effective as of the first day of the calendar month immediately following the month during which the Borrower delivers to the Administrative Agent the applicable Compliance Certificate pursuant to Section 9.3. If the Borrower fails to deliver a Compliance Certificate pursuant to Section 9.3, the Leverage-Based Applicable Margin shall equal the percentages corresponding to Lxxxx 0, until the first day of the calendar month immediately following the month that the required Compliance Certificate is delivered. Notwithstanding the foregoing, (a) for the period from the Amendment No. 7 Effective Date through but excluding the date on which the Administrative Agent first determines the Leverage-Based Applicable Margin as set forth above, the Leverage-Based Applicable Margin shall be determined based on Level 1 and (b) for the period from and after the Leverage Relief Period Termination Date through but excluding the date on which the Administrative Agent first thereafter determines the Leverage-Based Applicable Margin as set forth above, the Leverage-Based Applicable Margin shall be determined based on (i) if the Leverage Relief Period is terminated in accordance with clause (ii) of the definition of “Leverage Relief Period”, the Leverage Ratio set forth in the Compliance Certificate delivered on such Leverage Relief Period Termination Date, and (ii) if the Leverage Relief Period is terminated in accordance with clause (i) of the definition of “Leverage Relief Period”, Level 6. Thereafter, ...
Leverage-Based Applicable Margin means, (a) with respect to the Revolving Credit Facility or the Tranche A-2 Term Facility, as applicable, the percentage rate set forth below corresponding to the Leverage Ratio as determined in accordance with Section 10.1.(a): Level Leverage Ratio Revolving Credit Facility Applicable Margin for LIBOR Loans Revolving Credit Facility Applicable Margin for Base Rate Loans Tranche A-2 Term Loan Facility Applicable Margin for LIBOR Loans Tranche A-2 Term Loan Facility Applicable Margin for Base Rate Loans 1 Less than 4.00 to 1.00 1.50 % 0.50 % 1.45 % 0.45 % 2 Greater than or equal to 4.00 to 1.00 but less than 4.50 to 1.00 1.60 % 0.60 % 1.55 % 0.55 % 3 Greater than or equal to 4.50 to 1.00 but less than 5.00 to 1.00 1.65 % 0.65 % 1.60 % 0.60 % 4 Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00 1.80 % 0.80 % 1.75 % 0.75 % 5 Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00 2.00 % 1.00 % 1.95 % 0.95 % 6 Greater than or equal to 6.00 to 1.00 but less than 6.50 to 1.00 2.25 % 1.25 % 2.20 % 1.20 % and (b) with respect to the Tranche A-1 Term Facility, the percentage rate set forth below corresponding to the Leverage Ratio as determined in accordance with Section 10.1.(a): Level Leverage Ratio Tranche A-1 Term Loan Facility Applicable Margin for LIBOR Loans Tranche A-1 Term Loan Facility Applicable Margin for Base Rate Loans 1 Less than 4.00 to 1.00 1.55 % 0.55 % 2 Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00 1.70 % 0.70 % 3 Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00 1.90 % 0.90 % 4 Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00 2.00 % 1.00 % 5 Greater than or equal to 6.00 to 1.00 2.30 % 1.30 % The Leverage-Based Applicable Margin shall be determined by the Administrative Agent from time to time based on the Leverage Ratio as set forth in the Compliance Certificate most recently delivered by the Borrower pursuant to Section 9.3. Any adjustment to the Leverage-Based Applicable Margin shall be effective as of the first day of the calendar month immediately following the month during which the Borrower delivers to the Administrative Agent the applicable Compliance Certificate pursuant to Section 9.3. If the Borrower fails to deliver a Compliance Certificate pursuant to Section 9.3., the Leverage-Based Applicable Margin shall equal the percentages corresponding to Level 5 (with respect to the Tranche A-1 Term Loans) or Level 6 (with respect to the Revolving Credit Loans and the ...
Leverage-Based Applicable Margin as defined in the definition of “Applicable Margin”.
Examples of Leverage-Based Applicable Margin in a sentence
Thereafter, such Leverage-Based Applicable Margin shall be adjusted from time to time as set forth in this definition.
The DOT’s selection is conclusive unless appealed within five days after notice of the final decision.
More Definitions of Leverage-Based Applicable Margin
Leverage-Based Applicable Margin means, with respect to the Revolving Credit Facility or the Term Loan Facility, as applicable, the percentage rate set forth below corresponding to the Leverage Ratio as determined in accordance with Section 10.1.(a): Level Leverage Ratio Revolving Credit Facility Applicable Margin for LIBOR, CDOR or AUD Rate Loans Revolving Credit Facility Applicable Margin for Base Rate Loans Term Loan Facility Applicable Margin for LIBOR, CDOR or AUD Rate Loans Term Loan Facility Applicable Margin for Base Rate Loans 1 Less than 4.00 to 1.00 1.50 % 0.50 % 1.45 % 0.45 % 2 Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00 1.60 % 0.60 % 1.55 % 0.55 % 3 Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00 1.80 % 0.80 % 1.75 % 0.75 % 4 Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00 2.00 % 1.00 % 1.95 % 0.95 % 5 Greater than or equal to 6.00 to 1.00 but less than 6.50 to 1.00 2.25 % 1.25 % 2.20 % 1.20 % 6 Greater than or equal to 6.50 to 1.00 but less than 7.00 to 1.00 2.50 % 1.50 % 2.45 % 1.45 % 7 Greater than or equal to 7.00 to 1.00 3.00 % 2.00 % 2.95 % 1.95 % The Leverage-Based Applicable Margin shall be determined by the Administrative Agent from time to time based on the Leverage Ratio as set forth in the Compliance Certificate most recently delivered by the Company pursuant to Section 9.3.(a). Any adjustment to the Leverage-Based Applicable Margin shall be effective as of the first day of the calendar month immediately following the month during which the Company delivers to the Administrative Agent the applicable Compliance Certificate pursuant to Section 9.3.(a). If the Company fails to deliver a Compliance Certificate pursuant to Section 9.3.(a), the Leverage-Based Applicable Margin shall equal the percentages corresponding to Level 7 until the first day of the calendar month immediately following the month that the required Compliance Certificate is delivered. Notwithstanding the foregoing, for the period from the Term Loan Effective Date through but excluding the date on which the Administrative Agent first determines the Leverage-Based Applicable Margin as set forth above, the Leverage-Based Applicable Margin shall be determined based on Level 1 with respect to each Facility. Thereafter, such Leverage-Based Applicable Margin shall be adjusted from time to time as set forth in this definition. The provisions of this definition shall be subject to Section 2.6.(c).
Leverage-Based Applicable Margin means the applicable percentage rate as set forth below based on the ratio of the Total Indebtedness to the Total Asset Value: Pricing Level Total Leverage Ratio Leverage-Based Applicable Margin for SOFR Loans Leverage-Based Applicable Margin for Base Rate Loans I Less than or equal to 40% 1.20% 0.20% II Greater than 40% but less than or equal to 45% 1.30% 0.30% III Greater than 45% but less than or equal to 50% 1.40% 0.40% IV Greater than 50% but less than or equal to 55% 1.50% 0.50% V Greater than 55% 1.75% 0.75% The initial Leverage-Based Applicable Margin shall be at Pricing Level II. The Leverage-Based Applicable Margin shall not be adjusted based upon such ratio, if at all, until the first day of the first month following the delivery by the Borrower to the Administrative Agent of the Compliance Certificate after the end of a calendar quarter. In the event that the Borrower shall fail to deliver to the Administrative Agent a quarterly Compliance Certificate on or before the date required by Section 8.5(c), then, without limiting any other rights of the Administrative Agent and the Lenders under this Agreement, the Leverage-Based Applicable Margin shall be at Pricing Level V until such failure is cured within any applicable cure period, or waived in writing by the Required Lenders, in which event the Leverage-Based Applicable Margin shall adjust, if necessary, on the first day of the first month following receipt of such Compliance Certificate. In the event that the Administrative Agent or the Borrower determines that any financial statements previously delivered were incorrect or inaccurate (for whatever reason, including, without limitation, because of a subsequent restatement of earnings by the Borrower, and regardless of whether this Agreement or the Commitments are in effect or any Loans are outstanding when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of a higher Leverage-Based Applicable Margin for any period (an “Applicable Period”) than the Leverage-Based Applicable Margin applied for such Applicable Period, then (a) the Borrower shall as soon as practicable deliver to the Administrative Agent the corrected financial statements for such Applicable Period, (b) the Leverage-Based Applicable Margin shall be determined as if the Pricing Level for such higher Leverage-Based Applicable Margin were applicable for such Applicable Period, and (c) the Borrower shall within three (3) Business Days ...
Leverage-Based Applicable Margin means, (a) with respect to the Revolving Credit Facility or the Tranche A-2 Term Loan Facility, as applicable, the percentage rate set forth below corresponding to the level (each, a “Level”) into which the Leverage Ratio as determined in accordance with S ection 10.1(a) then falls: and (b) with respect to the Tranche A-1 Term Loan Facility, the percentage rate set forth below corresponding to the level (each, a “Level”) into which the Leverage Ratio as determined in accordance with S ection 10.1(a) then falls: The Leverage-Based Applicable Margin shall be determined by the Administrative Agent from time to time based on the Leverage Ratio as set forth in the Compliance Certificate most recently delivered by the Borrower pursuant to S ection 9.3. Any adjustment to the Leverage-Based Applicable Margin shall be effective as of the first day of the calendar month immediately following the month during which the Borrower delivers to the Administrative Agent the applicable Compliance Certificate pursuant to S ection 9.3. If the Borrower fails to deliver a Compliance Certificate pursuant to Section 9.3, the Leverage-Based Applicable Margin shall (i) with respect to the Revolving Credit Facility and Tranche A-2 Term Loan Facility, equal the percentages corresponding to Level 7 and (ii) with respect to the Tranche A-1 Term Loan Facility, equal the percentages corresponding to Level 6, until the first day of the calendar month immediately following the month that the required Compliance Certificate is delivered. Notwithstanding the foregoing,
Leverage-Based Applicable Margin means, (a) with respect to the Revolving Credit Facility or the Tranche A-2 Term Facility, as applicable, the percentage rate set forth below corresponding to the Leverage Ratio as determined in accordance with Section 10.1.(a):
Leverage-Based Applicable Margin means, (i) with respect to any Tranche A-1 Loans and Tranche A-2 Loans, the percentage rate set forth below corresponding to the Leverage Ratio as determined in accordance with Section 10.1.(a): Level The Leverage-Based Applicable Margin shall be determined by the Administrative Agent from time to time based on the Leverage Ratio as set forth in the Compliance Certificate most recently delivered by the Borrower Representative pursuant to Section 9.3. Any adjustment to the Leverage-Based Applicable Margin shall be effective as of the first day of the calendar month immediately following the month during which the Borrower Representative delivers to the Administrative Agent the applicable Compliance Certificate pursuant to Section 9.3. If the Borrower Representative fails to deliver a Compliance Certificate pursuant to Section 9.3., the Leverage-Based Applicable Margin shall equal the percentages corresponding to Level 8 until the first day of the calendar month immediately following the month that the required Compliance Certificate is delivered. Notwithstanding the foregoing, for the period from the Closing Date through but excluding the date on which the Administrative Agent first determines the Leverage-Based Applicable Margin as set forth above, the Leverage-Based Applicable Margin shall be determined based on Level 2. Thereafter, such Leverage-Based Applicable Margin shall be adjusted from time to time as set forth in this definition, and with respect to any Incremental Tranche Loans of any Type, the rate or rates per annum specified in the applicable Incremental Facility Amendment. The provisions of this definition shall be subject to Section 2.6.(c).
Leverage-Based Applicable Margin means, (i) with respect to any Tranche A-1 Loans and Tranche A-2 Loans, the percentage rate set forth below corresponding to the Leverage Ratio as determined in accordance with Section 10.1.(a): Level Leverage Ratio Applicable Margin for LIBOR Loans Applicable Margin for Base Rate Loans 1 Less than 3.50 to 1.00 1.35 % 0.35 % 2 Greater than or equal to 3.50 to 1.00 but less than 4.00 to 1.00 1.40 % 0.40 % 3 Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00 1.50 % 0.50 % 4 Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00 1.70 % 0.70 % 5 Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00 1.85 % 0.85 % 6 Greater than or equal to 6.00 to 1.00 but less than 6.50 to 1.00 2.10 % 1.10 % 7 Greater than or equal to 6.50 to 1.00 but less than 7.00 to 1.00 2.35 % 1.35 % 8 Greater than or equal to 7.00 to 1.00 2.65 % 1.65 % The Leverage-Based Applicable Margin shall be determined by the Administrative Agent from time to time based on the Leverage Ratio as set forth in the Compliance Certificate most recently delivered by the Borrower Representative pursuant to Section 9.3. Any adjustment to the Leverage-Based Applicable Margin shall be effective as of the first day of the calendar month immediately following the month during which the Borrower Representative delivers to the Administrative Agent the applicable Compliance Certificate pursuant to Section 9.3. If the Borrower Representative fails to deliver a Compliance Certificate pursuant to Section 9.3., the Leverage-Based Applicable Margin shall equal the percentages corresponding to Level 8 until the first day of the calendar month immediately following the month that the required Compliance Certificate is delivered. Notwithstanding the foregoing, for the period from the Closing Date through but excluding the date on which the Administrative Agent first determines the Leverage-Based Applicable Margin as set forth above, the Leverage-Based Applicable Margin shall be determined based on Level 2. Thereafter, such Leverage-Based Applicable Margin shall be adjusted from time to time as set forth in this definition, and with respect to any Incremental Tranche Loans of any Type, the rate or rates per annum specified in the applicable Incremental Facility Amendment. The provisions of this definition shall be subject to Section 2.6.(c).
Leverage-Based Applicable Margin means the percentage rate set forth below corresponding to the Leverage Ratio as determined in accordance with Section 9.1.(a): Level Leverage Ratio Applicable Margin for Term SOFR Loans and Daily SOFR Loans Applicable Margin for Base Rate Loans 1 Less than 3.50 to 1.00 1.45% 0.45% 2 Greater than or equal to 3.50 to 1.00 but less than 4.00 to 1.00 1.50% 0.50% 3 Greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00 1.60% 0.60% 4 Greater than or equal to 5.00 to 1.00 but less than 5.50 to 1.00 1.80% 0.80% 5 Greater than or equal to 5.50 to 1.00 but less than 6.00 to 1.00 2.00% 1.00% 6 Greater than or equal to 6.00 to 1.00 but less than 6.50 to 1.00 2.25% 1.25% 7 Greater than or equal to 6.50 to 1.00 but less than 7.00 to 1.00 2.50% 1.50% 8 Greater than or equal to 7.00 to 1.00 2.75% 1.75% The Leverage-Based Applicable Margin shall be determined by the Administrative Agent from time to time based on the Leverage Ratio as set forth in the Compliance Certificate most recently delivered by the Company pursuant to Section 8.3. Any adjustment to the Leverage-Based Applicable Margin shall be effective as of the first day of the calendar month immediately following the month during which the Company delivers to the Administrative Agent the applicable Compliance Certificate pursuant to Section 8.3. If the Company fails to deliver a Compliance Certificate pursuant to Section 8.3., the Leverage-Based Applicable Margin shall equal the percentages corresponding to Level 8 until the first day of the calendar month immediately following the month that the required Compliance Certificate is delivered. Notwithstanding the foregoing, for the period from the Effective Date through but excluding the date on which the Administrative Agent first determines the Leverage-Based Applicable Margin as set forth above, the Leverage-Based Applicable Margin shall be determined based on Level 5. Thereafter, such Leverage-Based Applicable Margin shall be adjusted from time to time as set forth in this definition. The provisions of this definition shall be subject to Section 2.6.(c).