Permissible Increment definition

Permissible Increment means a minimum principal amount of One Million Dollars ($1,000,000) and minimum increments of Five Hundred Thousand Dollars ($500,000) above One Million Dollars ($1,000,000).
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Permissible Increment shall have the meaning ascribed in Section 2.2.9(iv).
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Permissible Increment means (a) with respect to LIBOR Advances, Five Hundred Thousand Dollars ($500,000) and minimum increments of One Hundred Thousand Dollars ($100,000) and (b) with respect to Prime Rate Advances, Fifty Thousand Dollars ($50,000) and minimum increments of Ten Thousand Dollars ($10,000).
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Examples of Permissible Increment in a sentence

  • At the expiration of each LIBOR Interest Period on such Permissible Increment, unless, in each case, Borrower selects a LIBOR Optional Rate as provided in Section 2.5 hereof, interest on such Permissible Increment shall again accrue at the Alternate Base Rate plus the Applicable Margin.

  • At the expiration of each LIBOR Interest Period on such Permissible Increment, unless, in each case, Borrower selects a LIBOR Option as provided in Section 2.8 hereof, interest on such Permissible Increment shall again accrue at the Prime Rate plus the Applicable Margin.

  • At the expiration of such Optional Rate on such Permissible Increment, unless, in each case, the Borrowers exercise the Optional Rate as provided in Section 2.2.9, interest shall again accrue at the Prime Rate plus the Applicable Margin.

  • The Loan shall bear interest (calculated on the basis that an entire year's interest is earned in 360 days) from the date of each Advance until repaid or until Maturity on any Permissible Increment of outstanding Advances of the Loan, at the LIBOR Rate of Four and Twenty-Five Hundredths Percent (4.25%) per annum above the Adjusted LIBOR, compounded monthly.

  • Prior to maturity or Default, the principal amount of the Revolving Loans outstanding from time to time shall bear interest at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin, except that at the option of Borrower, exercised as provided in Section 2.5 hereof, interest may accrue prior to maturity on any Permissible Increment of outstanding Advances of the Revolving Loans at a per annum rate equal to the Adjusted LIBOR plus the Applicable Margin.

  • Prior to maturity or Default, the principal amount of the Revolving Loans outstanding from time to time shall bear interest at a rate per annum equal to the Alternate Base Rate, except that at the option of Borrower, exercised as provided in Section 2.5 hereof, interest may accrue prior to maturity on any Permissible Increment of outstanding Advances of the Revolving Loans at a per annum rate equal to the Adjusted LIBOR plus the Applicable Margin.

  • Prior to maturity or Default, the principal amount of the Revolving Loans outstanding from time to time shall bear interest at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin, except that at the option of Borrower, exercised as provided in Section 2.5, interest may accrue prior to maturity on any Permissible Increment of outstanding Advances of the Revolving Loans at a per annum rate equal to the Eurodollar Rate plus the Applicable Margin.

  • Prior to maturity or Default, the principal amount of the Term Loan outstanding from time to time shall bear interest at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin, except that at the option of Borrower, exercised as provided in Section 2.5 hereof, interest may accrue prior to maturity on any Permissible Increment of outstanding Advances of the Term Loan at a per annum rate equal to the Adjusted LIBOR plus the Applicable Margin.

  • At the expiration of each LIBOR Interest Period on such Permissible Increment, unless Borrower selects an Optional Rate as provided in Section 2.5 hereof, interest on such Permissible Increment shall again accrue at the Alternate Base Rate.

  • At the expiration of the Eurodollar Interest Period on such Permissible Increment, unless, in each case, Borrower selects the Fixed Rate Option as provided in Section 2.5, interest shall again accrue at the Alternate Base Rate plus the Applicable Margin.


More Definitions of Permissible Increment

Permissible Increment means (a) with respect to Revolving Loan Advances, a minimum principal amount of Five Million Dollars ($5,000,000) and minimum increments of One Million Dollars ($1,000,000) above Five Million Dollars ($5,000,000), and (b) with respect to Cash Management Line Advances, a minimum principal amount of One Hundred Thousand Dollars ($100,000) and minimum increments of Ten Thousand Dollars ($10,000) above One Hundred Thousand Dollars ($100,000).
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Related to Permissible Increment

  • Available Incremental Amount has the meaning specified in Section 2.14(4)(c).

  • Maximum Incremental Amount means, at any time, the sum of (a) $1,400.0 million minus the Dollar Equivalent amount (measured at the time of incurrence) of New Term Loans, New Revolving Commitments and Permitted Alternative Incremental Facilities Debt previously established or incurred in reliance on this clause (a) plus (b) the aggregate Dollar Equivalent amount (measured at the time of prepayment or reduction) of Term Loans and Revolving Commitments outstanding on the Closing Date (or established pursuant to clause (a) above) that are optionally prepaid or optionally reduced (other than with the proceeds of long-term Indebtedness (other than borrowings under any revolving credit facility) and other than Revolving Commitments replaced with New Revolving Commitments) following the Closing Date and on or prior to such time (and, in the case of any prepayment of Term Loans pursuant to Section 2.08(d), based on the Dollar Equivalent amount (measured at the time of each applicable prepayment) expended by the Borrowers pursuant to such Section 2.08(d) and not the principal amount) plus (c) an unlimited amount so long as, in the case of this clause (c) only, on a pro forma basis (including the application of proceeds therefrom but excluding any increase in cash and cash equivalents and treating any New Revolving Commitments established pursuant to this clause (c) as fully drawn and all Permitted Alternative Incremental Facilities Debt incurred pursuant to this clause (c) as secured by Liens whether or not actually secured (but without giving effect to any substantially simultaneous incurrence of any New Term Loans, New Revolving Commitments or Permitted Alternative Incremental Facilities made pursuant to the foregoing clauses (a) and (b))), the Consolidated Secured Debt Ratio would not exceed 3.00 to 1.00 (it being understood that the Borrowers shall be deemed to have used amounts under clause (c) (to the extent compliant herewith) prior to utilization of amounts under clause (a) or (b)).

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Incremental Term Loan Maturity Date means the final maturity date of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Fixed Incremental Amount means (i) the greater of $920,000,000 and 100% of Consolidated EBITDA as of the last day of the most recently ended Test Period minus (ii) the aggregate outstanding principal amount of all Incremental Facilities, Incremental Equivalent Debt and/or Indebtedness incurred pursuant to Section 7.03(r)(ii)(A), in each case incurred or issued in reliance on this definition.

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Available Increase Amount means, as of any date of determination, an amount equal to the result of (a) $50,000,000, minus (b) the aggregate principal amount of Increases to the Revolver Commitments previously made pursuant to Section 2.14 of this Agreement.

  • Maturity Date Extension Request means a request by the Borrower, in the form of Exhibit G hereto or such other form as shall be approved by the Administrative Agent, for the extension of the Maturity Date pursuant to Section 2.20.

  • Incremental Cap has the meaning assigned to such term in Section 2.21(a).

  • Leverage Increase Period has the meaning specified in Section 7.11(a).

  • Tax Increment means the difference between:

  • Incremental Facility Amendment has the meaning assigned to such term in Section 2.20(f).

  • Incremental Amount means, at any time, the excess, if any, of (a) $200.0 million over (b) the aggregate amount of all Incremental Term Loan Commitments and Incremental Revolving Facility Commitments established prior to such time pursuant to Section 2.21.

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Tranche A Term Loan Maturity Date means October 20, 2015.

  • Incremental Loan Request has the meaning set forth in Section 2.14(a).

  • Extended Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Increment means twelve (12) months of service credit which are purchased. The

  • Closing Date Term Loan Commitment means the commitment of each Lender to make Term Loans on the Closing Date hereunder in an aggregate principal amount not to exceed the amount set forth under the heading “Closing Date Term Loan Commitment” opposite its name in Schedule 2.01 hereto. The aggregate amount of the Closing Date Term Loan Commitments as of the Closing Date is $1,150,000,000.

  • Incremental Term Maturity Date means, with respect to Incremental Term Loans of any Series, the scheduled date on which such Incremental Term Loans shall become due and payable in full hereunder, as specified in the applicable Incremental Facility Agreement.

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Incremental Term Loan Amendment has the meaning assigned to such term in Section 2.20.