LIBOR Rate Spread definition

LIBOR Rate Spread means, for any LIBOR Loan for any applicable Interest Period, 2% per annum.
LIBOR Rate Spread means, for any LIBOR Loan for any applicable Interest Period, 3.0% per annum.
LIBOR Rate Spread means the additional component of interest, ----------------- expressed as a percentage per annum, to be added to the LIBOR Rate in determining the applicable rate of interest for LIBOR Borrowings. The applicable LIBOR Rate Spread shall be based on the Company's current senior long term debt ratings as published by Standard & Poors and Xxxxx'x Investor Services as determined by the following pricing grid:

Examples of LIBOR Rate Spread in a sentence

  • Subject to the provisions of Section 2.2, the outstanding Loans shall bear interest at a per annum rate equal to the LIBOR Rate for the applicable Interest Period plus the LIBOR Rate Spread.

  • Subject to the provisions of Section 2.2, the outstanding Loan shall bear interest at a per annum rate equal to the LIBOR Rate for the applicable Interest Period plus the LIBOR Rate Spread.

  • If a Compliance Certificate is not delivered with respect to a fiscal quarter as and when required pursuant to § 7.4(d), the Applicable LIBOR Rate Spread, from and including the date on which it was required to be delivered to but not including the actual date of delivery of such Compliance Certificate, shall conclusively be presumed to equal the highest Applicable LIBOR Rate Spread set forth above.

  • Subject to the provisions of Section 2.2, each LIBOR Loan shall bear interest at a per annum rate equal to the LIBOR Rate for the applicable Interest Period plus the LIBOR Rate Spread.

  • Subject to the provisions of Section 2.2, each Loan shall bear interest at a per annum rate equal to the LIBOR Rate for the applicable Interest Period plus the LIBOR Rate Spread.


More Definitions of LIBOR Rate Spread

LIBOR Rate Spread means, for any LIBOR Loan for any applicable Interest Period, One and Seven-Eighths Percent (1.875%) per annum.
LIBOR Rate Spread. Applicable Margin shall mean, as applicable: (A) the percentage spread to be added to the Base Rate under the Base Rate Option based on the Total Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Base Rate Spread”, or (B) the percentage spread to be added to the LIBOR Rate (or the then current Benchmark Replacement in accordance with Section 4.4.2 [Effect of Benchmark Transition Event]) under the LIBOR Rate Option based on the Total Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “LIBOR Rate Spread”. Applicable Unused Line Fee Rate shall mean the percentage rate per annum based on the Total Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Unused Line Fee.” Approved Fund shall mean any fund that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. Arrangement Fee shall have the meaning specified in Section 10.9 [Fees]. Asset Sale shall mean any Disposition by the Borrowers or any of their Subsidiaries of any asset or property pursuant to Section 8.2.8 (xii) [Dispositions of Assets or Subsidiaries]. Assignment and Assumption Agreement shall mean an assignment and assumption agreement entered into by a Lender and an assignee permitted under Section 12.8 [Successors and Assigns], in substantially the form of Exhibit 1.1(A). Assignment of Claims Act shall mean the Assignment of Claims Act of 1940, 31 U.S.C. Section 3727 and 41 U.S.C. Section 15, as amended. Authorized Officer shall mean, with respect to any Loan Party, the Chief Executive Officer, President, Chief Financial Officer, Treasurer or Assistant Treasurer of such Loan Party, any manager or the members (as applicable) in the case of any Loan Party which is a limited liability company, or such other individuals, designated by written notice to the {N0289348 2 } 3
LIBOR Rate Spread. Applicable Unused Line Fee Rate shall mean the percentage rate per annum based on the Total Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Unused Line Fee.” Approved Fund shall mean any fund that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. Arrangement Fee shall have the meaning specified in Section 10.9 [Fees]. Asset Sale shall mean any Disposition by the Borrowers or any of their Subsidiaries of any asset or property pursuant to Section 8.2.8 (xii) [Dispositions of Assets or Subsidiaries]. Assignment and Assumption Agreement shall mean an assignment and assumption agreement entered into by a Lender and an assignee permitted under Section 12.8 [Successors and Assigns], in substantially the form of Exhibit 1.1(A). Assignment of Claims Act shall mean the Assignment of Claims Act of 1940, 31 U.S.C. Section 3727 and 41 U.S.C. Section 15, as amended. Authorized Officer shall mean, with respect to any Loan Party, the Chief Executive Officer, President, Chief Financial Officer, Treasurer or Assistant Treasurer of such Loan Party, any manager or the members (as applicable) in the case of any Loan Party which is a limited liability company, or such other individuals, designated by written notice to the {N0289348 2 } 3
LIBOR Rate Spread means, with respect to each Transaction:
LIBOR Rate Spread shall have the meaning set forth in the applicable Note.
LIBOR Rate Spread means the additional component of interest, expressed as a percentage per annum, to be added to the LIBOR Rate in determining the applicable rate of interest for LIBOR Borrowings. The applicable LIBOR Rate Spread shall be based on the Company's then effective Leverage Ratio, in accordance with the following pricing grid: LEVERAGE RATIO APPLICABLE LIBOR RATE SPREAD < .50 1.50% > .50 through .60 1.60% = > .60 1.75% As of June 30, 1999, the applicable Leverage Ratio was 0.52 the applicable LIBOR Rate Spread for the Loans as of the date of this Agreement is therefore 1.60%. The applicable LIBOR Rate Spread shall change with each change in the applicable Leverage Ratio, effective as of the effective date of the change in the applicable Leverage Ratio, as specified under the definition of Leverage Ratio.
LIBOR Rate Spread means the additional component of interest, expressed as a percentage per annum, to be added to the LIBOR Rate in determining the applicable rate of interest for LIBOR Borrowings. The applicable LIBOR Rate Spread shall be based on the Company's current senior long term debt ratings (or lack thereof) as published by Standard & Poors or Moodx'x Xxxestor Services as determined by the following pricing grid and the Leverage Ratio as set forth below: S&P/Moodx'x Xxxior Debt Rating Applicable LIBOR Rate Spread ------------------------------ ---------------------------- BBB/Baa2 (or better) 1.00% BBB-/Baa3 1.15% Less than BBB-/Baa3 1.375% if Leverage (or not rated) Ratio is .30 to 1.0 or greater; and 1.25% if Leverage Ratio is less than .30 to 1.0. In the event of a difference in rating between Standard & Poors and Moodx'x Xxxestor Services, the lower rating shall prevail for purposes of determining the applicable LIBOR Rate Spread. For purposes of determining the LIBOR Rate Spread, the Leverage Ratio shall be tested quarterly as of the last day of the last month of each calendar quarter. If the Leverage Ratio is significant in determining the applicable LIBOR Rate Spread in accordance with the foregoing provisions of this definition (i.e., the senior debt rating is less than BBB-/Baa3, or not rated), any change in the applicable LIBOR Rate Spread following a change in the Leverage Ratio which would cause a change in the applicable LIBOR Rate Spread in accordance with the foregoing provisions, shall be effective on the first day of the third month of each calendar quarter. For example, if the Leverage Ratio tested as of September 30, 1998 was .35 to 1, and changed to .28 to 1 as of December 31, 1998, the lower applicable LIBOR Rate Spread would become effective as of March 1, 1999.