Margin definition
Examples of Margin in a sentence
No Loan proceeds will be used by Obligors to purchase or carry, or to reduce or refinance any Debt incurred to purchase or carry, any Margin Stock or for any related purpose governed by Regulations T, U or X of the Federal Reserve Board of Governors.
No Obligor or Subsidiary is engaged, principally or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any Margin Stock.
Each Loan shall at all times bear interest (i) if a Base Rate Loan, at the Base Rate in effect from time to time, plus the Applicable Margin or (ii) if a Term SOFR Loan, at a rate equal to the sum of Term SOFR plus the Applicable Margin (the “Interest”).
Subject to Section 3.7, with respect to any outstanding Letter of Credit, the Borrower shall pay to the Administrative Agent, for the account of the applicable Issuing Lender and the applicable L/C Participants, a letter of credit commission in the amount equal to the daily amount available to be drawn under such Letter of Credit times the Term Benchmark Margin then in effect (determined on a per annum basis).
If there is any change in the Applicable Margin during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by the Applicable Margin separately for each period during such quarter that such Applicable Margin was in effect.