Term Loan Applicable Rate definition

Term Loan Applicable Rate any rate of interest on the Term Loan Balance from time to time applicable pursuant to Section 6.1;
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Term Loan Applicable Rate means, for any day with respect to any Tranche B Term Loan that is an ABR Loan or Eurodollar Loan, the applicable rate per annum set forth below under the caption “ABR Spread” or ‘‘Eurodollar Spread”, as applicable, in each case, based upon the Leverage Ratio as of the most recent determination date, provided that prior to the date of delivery to the Administrative Agent, pursuant to Section 5.01, of the Borrower’s consolidated financial information for the Borrower’s fiscal quarter ended June 30, 2006, the “Term Loan Applicable Rate” for purposes of the foregoing shall be the applicable rate per annum set forth below in Category 1. Leverage Ratio ABR Spread Eurodollar Spread Category 1 >4.50x 125 bps 225 bps Category 2 >3.00x and < 4.50x 100 bps 200 bps Category 3 < 3.00x (and satisfaction of the Ratings Condition) 75 bps 175 bps For purposes of the foregoing, (a) the Leverage Ratio shall be determined on a Pro Forma Basis as of the end of each fiscal quarter of the Borrower based upon the Borrower’s consolidated financial statements delivered pursuant to Section 5.01(a) or (b), and (b) each change in the Term Loan Applicable Rate resulting from a change in the Leverage Ratio shall be effective during the period commencing on and including the date of delivery to the Administrative Agent of such consolidated financial statements indicating such change and ending on the date immediately preceding the effective date of the next such change, provided that the Leverage Ratio, for purposes of determining the Term Loan Applicable Rate, shall be deemed lo be in Category 1 (i) at any time that an Event of Default has occurred and is continuing or (ii) at the option of the Administrative Agent or at the request of the Required Lenders if the Borrower fails to deliver the consolidated financial statements required to be delivered by it pursuant to Section 5.01(a) or (b), during the period from the expiration of the time for delivery thereof until such consolidated financial statements are delivered.
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Term Loan Applicable Rate means, with respect to the Incremental Term Loans, (a) in the case of Eurodollar Loans, (i) at any time that the Total Leverage Ratio is equal to or greater than 4.50 to 1.0, 6.00%,
Sample 1

Examples of Term Loan Applicable Rate in a sentence

  • The Term Loan Balance shall bear interest at the Term Loan Applicable Rate which shall be the rate per annum which is equal to the aggregate of (a) LIBOR for the applicable Interest Period (determined in accordance with Section 6.5) plus (b) the then prevailing Margin.

  • The Borrower shall be promptly notified in writing of such determination of the Term Loan Applicable Rate and the Revolving Credit Facility Applicable Rate, as the case may be.

  • Any principal payment with respect to the Term Loan not paid when due, whether on a Term Loan Payment Date or by acceleration, shall bear interest thereafter at a rate per annum of two percent (2.0%) over the Term Loan Applicable Rate in effect with respect to such payment at the time of such default (the "Term Loan Default Rate").


More Definitions of Term Loan Applicable Rate

Term Loan Applicable Rate shall be 1.50% per annum for Term Loans that are US Prime Rate Loans and 2.50% per annum for Term Loans that are Eurodollar Rate Loans.
Sample 1
Term Loan Applicable Rate means, with respect to the Incremental Term Loans, (a) in the case of Eurodollar Loans, (i) at any time that the Total Leverage Ratio is equal to or greater than 4.50 to 1.0, 6.00%, (ii) at any time that the Total Leverage Ratio is equal to or greater than 3.50 to 1.0 but less than 4.50 to 1.0, 5.75%,(iii) at any time that the Total Leverage Ratio is equal to or greater than 3.00 to 1.0 but less than 3.50 to 1.0, 5.50%,(iv) at any time that the Total Leverage Ratio is equal to or greater than 2.50 to 1.0 but less than 3.00 to 1.0, 5.25%, and (v) at any time that the Total Leverage Ratio is less than 2.50 to 1.0, 5.00%, and (b) in the case of Base Rate Loans, (i) at any time that the Total Leverage Ratio is equal to or greater than 4.50 to 1.0, 5.00%, (ii) at any time that the Total Leverage Ratio is equal to or greater than 3.50 to 1.0 but less than 4.50 to 1.0, 4.75%, (iii) at any time that the Total Leverage Ratio is equal to or greater than 3.00 to 1.0 but less than 3.50 to 1.0, 4.50%, (iv) at any time that the Total Leverage Ratio is equal to or greater than 2.50 to 1.0 but less than 3.00 to 1.0, 4.25%, and(v) at any time that the Total Leverage Ratio is less than 2.50 to 1.0, 4.00%. Any increase or decrease in the Term Loan Applicable Rate resulting from a change in the Total Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b) of the Credit Agreement in the case of the first three fiscal quarters of any fiscal year and immediately following the date a certification of the Total Leverage Ratio is delivered pursuant to Section 6.02(c) of the Credit Agreement in the case of the final quarter of any fiscal year; provided, however, that if a Compliance Certificate is not delivered when due in accordance with Section 6.02(b) of the Credit Agreement or a certification of Total Leverage Ratio is not delivered when due in accordance with Section 6.02(c) of the Credit Agreement, then the Term Loan Applicable Rate shall be the rate referred to in clause (a)(i) or (b)(i) of the definition thereof (set forth above) as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and shall continue to apply until the first Business Day after the date such certificate is delivered. Notwithstanding the foregoing, in the event that the Effective Yield (as defined below) for any Term Facility under the Credi...
Sample 1
Term Loan Applicable Rate means, with respect to the Incremental Term Loans governed hereby, (a) in the case of Eurodollar Loans, (i) at any time that the Total Leverage Ratio is 5.00 to 1.0 or greater, 5.75%, and (ii) at any time that the Total Leverage Ratio is less than 5.00 to 1.0, 5.50%, and (b) in the case of Base Rate Loans, (i) at any time that the Total Leverage Ratio is 5.00 to 1.0 or greater, 4.75%, and (ii) at any time that the Total Leverage Ratio is less than 5.00 to 1.0, 4.50%. Any increase or decrease in the Term Loan Applicable Rate resulting from a change in the Total Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b) of the Credit Agreement in the case of the first three fiscal quarters of any fiscal year and immediately following the date a certification of the Total Leverage Ratio is delivered pursuant to Section 6.02(c) of the Credit Agreement in the case of the final quarter of any fiscal year; provided, however, that if a Compliance Certificate is not delivered when due in accordance with Section 6.02(b) of the Credit Agreement or a certification of Total Leverage Ratio is not delivered when due in accordance with Section 6.02(c) of the Credit Agreement, then the Term Loan Applicable Rate shall be the rate referred to in clause (a)(i) or (b)(i) of the definition thereof as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and shall continue to apply until the first Business Day after the date such certificate is delivered. Notwithstanding the foregoing, in the event that the Effective Yield for any Term Facility under the Credit Agreement (other than the Incremental Term Facility governed hereby), as determined by the Administrative Agent, is higher than the Effective Yield for the Incremental Term Facility governed hereby, as determined by the Administrative Agent, by more than 50 basis points, then the interest rates referred to above shall be increased to the extent necessary so that the Effective Yield for the Incremental Term Facility governed hereby, as determined by the Administrative Agent, is equal to the Effective Yield for such other Term Facility minus 50 basis points. If necessary, this Agreement shall be amended, in form and substance reasonably satisfactory to the Administrative Agent and the Borrower, to reflect such increase in interest rate.
Sample 1

Related to Term Loan Applicable Rate

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Applicable Rate means a percentage per annum equal to:

  • 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.

  • 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 Revolver LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

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

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

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Applicable Interest Rate Margin means (a) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (b) as to any LIBO Rate Advance, the applicable rate per annum set forth below under the caption “LIBO Rate Spread”, determined by reference to the higher of (i) the rating of Mondelēz’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Standard & Poor’s for Mondelēz) and (ii) the rating of Mondelēz’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Moody’s for Mondelēz), in each case on such date: Rating Base Rate Spread LIBO Rate Spread A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.805 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 0.915 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.025 % 1.025 % BBB by Standard & Poor’s Baa2 by Moody’s 0.125 % 1.125 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.300 % 1.300 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Interest Rate Margin shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Interest Rate Margin shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders and (z) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders, the Applicable Interest Rate Margin shall be 0.300% as to any Base Rate Advance and 1.300% as to any LIBO Rate Advance.

  • 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

  • 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.

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

  • 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

  • Applicable Base Rate Margin means, on any day, a rate per annum equal to the higher of (a) the Applicable Eurocurrency Margin for such day minus 1.00% and (b) 0.00%.

  • 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.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Applicable Commitment Fee Rate means:

  • Prime Rate Margin is set forth on Schedule I hereto.

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

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) 9.25% plus the prime rate as reported in The Wall Street Journal minus 3.50% and (ii) 9.25%.

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

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Applicable Unused Line Fee Margin means the per annum fee, from time to time in effect, payable in respect of Borrowers’ non-use of committed funds pursuant to Section 1.9(b), which fee is determined by reference to Section 1.5(a).

  • 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.

  • Term Loan A has the meaning set forth in Section 2.2(a).