Margin Floor definition

Margin Floor means the Original Margin Floor; provided that (a) if (i) Board Supermajority Approval of the proposed Annual Budget for any Subject Fiscal Year is required pursuant to Section 5.3(f)(i), (ii) at least one Director appointed by CME Group votes in favor of approval of the proposed Annual Budget for such Subject Fiscal Year and (iii) the Margin for such Subject Fiscal Year projected in such Annual Budget is below the Margin Floor for such Subject Fiscal Year, then the Margin Floor shall automatically reset to such lower level reflected in such Annual Budget; and (b) if the Margin Floor is reduced pursuant to clause (a), the Margin Floor for any Fiscal Year thereafter shall automatically increase to the average of the actual Margins for the three Fiscal Years immediately preceding such Fiscal Year if such average is higher than the Margin Floor then in effect; provided, further, that (A) the Margin Floor shall at all times remain subject to reduction pursuant to clause (a) and (B) in no event shall the Margin Floor ever be increased above the Original Margin Floor.
View Source
Margin Floor means two per cent. per annum.
View Source

Examples of Margin Floor in a sentence

  • Notwithstanding anything to the contrary contained in the Franchise Agreement, all ▇▇▇▇▇▇▇▇ from Strategic National Account Customers shall not be included with ▇▇▇▇▇▇▇▇ from other Temporary Employment clients and customers of the Franchised Business for purposes of determining the Gross Margin Floor.

  • If the Gross Margin Percentage is less than the Gross Margin Floor, then the Gross Margin Floor shall be used for purposes of calculating Franchisor's Share, and Franchisee's Share will be calculated by subtracting Franchisor's Share (calculated using the Gross Margin Floor), and the amounts set forth in Section 5.2 above, from Adjusted Gross Margin Dollars.

  • Index: Margin: Floor Rate: Payment/Rate Adjustments: 6 Months Annual Other Annual or Other Adjustment Cap: Life Cap: Discount Points: $ or % of the loan amount.

  • Notwithstanding anything herein to the contrary (except with respect to Strategic National Accounts described in Section 5.6.4 below), Franchisor's Share shall be calculated in the Gross Margin Schedule using the actual Gross Margin Percentage, so long as the Gross Margin Percentage is equal to or greater than the Gross Margin Floor.

  • However, because the Gross Margin Percentage is less than the Gross Margin Floor, Franchisor's Share will be calculated using the Gross Margin Floor (21% of Gross ▇▇▇▇▇▇▇▇ of $5,000,000 or $1,050,000).

  • The Administrative Agent shall determine the Applicable Rate from time to time in accordance with the provisions set forth below: The "Euro-Currency Margin" is a rate per annum equal to the Credit Default Swap Spread at the applicable date of determination specified below, subject to the then applicable minimum and maximum rates which are set forth in the "Pricing Grid" below under the respective columns headed "Margin Floor" and "Margin Ceiling".

  • The Monthly Store Operations Report shall also disclose Annual Net Sales and the Gross Margin Floor (each as hereinafter defined) for the applicable fiscal month.

  • The Gross Margin Floor for all Adjusted Gross Margin Dollars earned by the Franchised Business up to and including Tier 13 shall be a Gross Margin Percentage of 21%.

  • The Gross Margin Floor for all Adjusted Gross Margin Dollars earned by the Franchised Business up to and including Tier 11 shall be a Gross Margin Percentage of 21%, and for Tiers 12-14, the Gross Margin Floor shall be determined in accordance with the Gross Margin Schedule.

  • EXAMPLE 2 For example, assuming Gross ▇▇▇▇▇▇▇▇ for the Calculation Year are $5,000,000 and Temporary Employee Expenses are $4,200,000, then Adjusted Gross Margin Dollars equal $800,000, and Gross Margin Percentage equals 16% (i.e., less than the Gross Margin Floor of 21%).

Related to Margin Floor

  • Rate Floor The minimum per annum Mortgage Interest Rate permitted under the related Mortgage Note. Rating Agency: Initially, each of S&P and ▇▇▇▇▇’▇ and thereafter, each nationally recognized statistical rating organization that has rated the Certificates at the request of the Company, or their respective successors in interest. Ratings: As of any date of determination, the ratings, if any, of the Certificates as assigned by the applicable Rating Agencies.

  • SOFR Floor means a rate of interest per annum equal to zero basis points (0.00%).

  • OC Floor An amount equal to 0.50% of the Pool Balance as of the Cut-Off Date.

  • Lowest floor means the lowest floor of the lowest enclosed area (including basement). An unfinished or flood resistant enclosure, usable solely for parking of vehicles, building access, or limited storage in an area other than a basement area is not considered a building's lowest floor, provided that such an enclosure is not built so as to render the structure in violation of the applicable non-elevation design requirements of this ordinance.

  • LIBOR Floor means 0.00%.