Examples of LIBO Rate Margin in a sentence
The applicable Borrower will pay interest on each LIBOR Advance during each Interest Period applicable thereto in United States Dollars at a rate per annum equal to the sum of (i) the LIBO Rate in effect from time to time during such Interest Period plus (ii) the LIBO Rate Margin.
Each determination by the Agent of the LIBO Rate and the LIBO Rate Margin applicable from time to time during an Interest Period will, in the absence of manifest error, be binding upon the applicable Borrower.
Upon Lender’s receipt of Borrower’s quarterly financial statements required to be delivered to Lender pursuant to Section 4.2(b)(i) of the Loan Agreement, the Applicable LIBO Rate Margin will be subject to adjustment in accordance with the table set forth above based on the then applicable Senior Funded Debt to EBITDA Ratio, so long as no Default or Event of Default is existing as of applicable Determination Date or as of the effective date of adjustment.
INTEREST Absent the occurrence of an Event of Default (and any accompanying implementation of the Default Rate Margin), interest will accrue on the unpaid balance of the Principal Sum until paid at a per annum rate, adjusted quarterly, equal to the LIBO Rate plus the Applicable LIBO Rate Margin.
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