Revolving Facility Applicable Margin definition

Revolving Facility Applicable Margin means, for any day, with respect to any outstanding Eurodollar Revolving Loan or any outstanding ABR Revolving Loan or with respect to the Revolving Commitment Fees payable hereunder, as the case may be, the applicable rate per annum set forth below under the caption “Eurodollar Margin”, “ABR Margin” or “Revolving Commitment Fee Rate”, as the case may be, based upon the Total Secured Leverage Ratio set forth in the table below, subject to clauses (i) through (iii) below: Total Secured Leverage Ratio: Eurodollar Margin ABR Margin Revolving Commitment Fee Rate Category 1: ³ 2.50 to 1.00 2.25 % 1.25 % 0.375 % Category 2: ³ 1.50 to 1.00 but < 2.50 to 1.00 2.00 % 1.00 % 0.25 % Category 3: < 1.50 to 1.00 1.75 % 0.75 % 0.25 % For purposes of the foregoing,
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Revolving Facility Applicable Margin means the interest rate margin for the Revolving Credit Facility, and the rate for Commitment Fees, in each case being the rate per annum as follows: Pricing Level Rating Revolving Funding ‑ Applicable Margin - Eurodollar Loans Revolving Funding ‑ Applicable Margin - Base Rate Loans Commitment Fee Rate S&P/Fitch Xxxxx’x 1 ≥ BBB+ and ≥ Baa1 1.25% 0.25% 0.225% 2 = BBB and = Baa2 1.50% 0.50% 0.225% 3 = BBB‑ and = Baa3 1.75% 0.75% 0.275% 4 = BB+ and = Ba1 2.25% 1.25% 0.350% 5 ≤ BB and ≤ Ba2 2.75% 1.75% 0.400% 37 Cleco Corporation Credit Agreement For purposes of determining the “Revolving Facility Applicable Margin”,
Sample 1
Revolving Facility Applicable Margin means, for any day, (a) with respect to any outstanding Revolving Loan, 9.0% per annum or (b) with respect to the Revolving Commitment Fees payable hereunder, 0.75% per annum.
Sample 1

Examples of Revolving Facility Applicable Margin in a sentence

  • Subject to the provisions of Section 2.06(b), (i) the Term Loans shall bear interest at a rate per annum equal to the Term Applicable Margin and (ii) the Revolving Loans shall bear interest at a rate per annum equal to the Revolving Facility Applicable Margin.

Related to Revolving Facility Applicable Margin

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin II 10.0 V 17.5

  • Revolving Facility means the facility under which Borrower may request Bank to issue Advances, as specified in Section 2.1(a) hereof.

  • Applicable Margins means collectively the Applicable Revolver Index Margin, the Applicable Term Loan Index Margin, the Applicable Revolver LIBOR Margin and the Applicable Term Loan LIBOR Margin.

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • Base Rate Margin means a rate per annum determined in accordance with the Pricing Schedule.

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment (without regard to usage) at such time as set forth in the Pricing Schedule.

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin I 52.50 II 62.50 III 72.50 IV 82.50 V 92.50

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

  • Applicable Commitment Fee Rate means:

  • Incremental Revolving Facility has the meaning assigned to such term in Section 2.22(a).

  • Revolving Facility Commitment means, with respect to each Revolving Facility Lender, the commitment of such Revolving Facility Lender to make Revolving Facility Loans pursuant to Section 2.01(b), expressed as an amount representing the maximum aggregate permitted amount of such Revolving Facility Lender’s Revolving Facility Credit Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender under Section 9.04, and (c) increased (or replaced) as provided under Section 2.21. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule 2.01 or in the Assignment and Acceptance or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Revolving Facility Commitment, as applicable. The aggregate amount of the Lenders’ Revolving Facility Commitments on the Closing Date is $50,000,000. On the Closing Date, there is only one Class of Revolving Facility Commitments. After the Closing Date, additional Classes of Revolving Facility Commitments may be added or created pursuant to Incremental Assumption Agreements.

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Unused Commitment Fee Rate means 0.50% per annum.

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender of any Class, the percentage of the total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04.

  • Revolving Facilities means collectively the Initial Revolving Facility and each New Revolving Facility and “Revolving Facility” means any such facility individually.

  • Facility Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Eurodollar Margin means the percentage set forth in Schedule 1 hereto beside the then applicable Level.

  • Applicable Eurodollar Margin means, as at any date of determination, the rate per annum then applicable to Eurodollar Rate Loans determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.