LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.
LIBOR Rate Margin means, as of any date of determination (with respect to any portion of the outstanding Advances or the Term Loans on such date that is a LIBOR Rate Loan), the applicable margin set forth in the following table that correspond to the most recent Total Leverage Ratio calculation delivered to Agent pursuant to Section 5.1 of the Agreement (the “Total Leverage Ratio Calculation”); provided, however, that for the period from the Closing Date through the date Agent receives the Total Leverage Ratio Calculation in respect of the testing period ending October 31, 2011, the LIBOR Rate Margin shall be at the margin in the row styled “Level I”: Level Total Leverage Ratio Calculation LIBOR Rate Margin for LIBOR Rate Loans under Term Loan B LIBOR Rate Margin for all other LIBOR Rate Loans I If the Total Leverage Ratio is less than 2.0:1.0 9.00 percentage points 4.50 percentage points II If the Total Leverage Ratio is greater than or equal to 2.0:1.0 10.00 percentage points 5.00 percentage points Except as set forth in the foregoing proviso, the LIBOR Rate Margin shall be based upon the most recent Total Leverage Ratio Calculation, which will be calculated as of the end of each fiscal quarter. Except as set forth in the foregoing proviso, the LIBOR Rate Margin shall be re-determined quarterly on the first day of the month following the date of delivery to Agent of the certified calculation of the Total Leverage Ratio pursuant to Section 5.1 of the Agreement; provided, however, that if Borrower fails to provide such certification when such certification is due, the LIBOR Rate Margin shall be set at the margin in the row styled “Level II” as of the first day of the month following the date on which the certification was required to be delivered until the date on which such certification is delivered (on which date (but not retroactively), without constituting a waiver of any Default or Event of Default occasioned by the failure to timely deliver such certification, the LIBOR Rate Margin shall be set at the margin based upon the calculations disclosed by such certification. In the event that the information regarding the Total Leverage Ratio contained in any certificate delivered pursuant to Section 5.1 of the Agreement is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher LIBOR Rate Margin for any period (a “LIBOR Rate Period”) than the LIBOR Rate Margin actually applied for such LIBOR Rate Period, then (i) Borrower sh...
LIBOR Rate Margin means 3.00 percentage points.
Examples of LIBOR Rate Margin in a sentence
Borrowers shall pay Agent (for the ratable benefit of the Revolving Lenders), a Letter of Credit fee (the "Letter of Credit Fee") (which fee shall be in addition to the fronting fees and commissions, other fees, charges and expenses set forth in Section 2.10(k)) that shall accrue at a per annum rate equal to the Current Asset LIBOR Rate Margin multiplied by the Letter of Credit Usage.
More Definitions of LIBOR Rate Margin
LIBOR Rate Margin means 2.50 percentage points.
LIBOR Rate Margin is three and one-half percent (3.50%).”
LIBOR Rate Margin is two and one-quarter of one percent (2.25%).
LIBOR Rate Margin means the Revolving Loan LIBOR Rate Margin.
LIBOR Rate Margin means 4.25 percentage points.
LIBOR Rate Margin means one and three quarters of one percent (1.75%).
LIBOR Rate Margin has the meaning specified in Section 4.2.