Tranche B Rate means, with respect to any Tranche B Term Loan (a) -------------- 1.50% per annum, in the case of an ABR Loan, or (b) 2.50% per annum, in the case of a Eurodollar Loan.
Tranche B Rate means, with respect to any Tranche B Term Loan (a) 2.25% per annum, in the case of an ABR Loan, and (b) 3.25% per annum, in the case of a Eurodollar Loan; provided, however, that in the event that within twelve months of the Closing Date the Borrower effects an issuance of Subordinated Debt with an initial public offering or purchase price which, together with the outstanding principal amount (after giving effect to any prepayments of the Series B Bonds made with the proceeds of such Subordinated Debt) of the Series B Bonds, exceeds $220,000,000, the Tranche B Rate will be reduced by 25 basis points.
Tranche B Rate means (a) if the Leverage Ratio is greater than or equal to 4.25 to 1.00 (i) 4.25% per annum, in the case of a Eurodollar Loan, and (ii) 3.25% per annum, in the case of an ABR Loan, or (b) if the Leverage Ratio is less than 4.25 to 1.00 (i) 4.00% per annum, in the case of a Eurodollar Loan, and (ii) 3.00% per annum, in the case of an ABR Loan.
Examples of Tranche B Rate in a sentence
If Lessee fails to provide such notice of election at least three (3) LIBOR Banking Days before any Floating Payment Date, Lessee shall be deemed to have elected a one-month LIBOR based Applicable Equity Rate and Applicable Tranche B Rate.
We received more than 230 comments from landowners, public officials, non- government organizations, and government agencies in response to the draft EIS.
Upon the occurrence and during the continuance of an Event of Default, the aggregate outstanding amount of the Loans will bear interest at a rate (the “ Default Rate”) that is equal to the sum of (i) *** per annum and (ii) in the case of Tranche A Loans, the greater of (A) the Tranche A Rate and (B) the Prime Rate and in the case of Tranche B Loans, the Tranche B Rate.
Interest on Tranche B Notes (and on any Additional Tranche B Notes) shall be payable at the Tranche B Rate.
At any time while a Lease Event of Default exists, the Applicable Tranche B Rate after each Floating Payment Date shall be based on one-month LIBOR.
More Definitions of Tranche B Rate
Tranche B Rate means, for any day with respect to any ABR Loan or Eurodollar Loan that is a Tranche B Term Loan, the applicable rate per annum set forth below under the caption "ABR Spread" or "Eurodollar Spread", as the case may be, based upon the Leverage Ratio for the period of four consecutive fiscal quarters of the Borrower most recently ended as of such day, PROVIDED that until the delivery to the Administrative Agent, pursuant to Section 5.0 1(a) or (b), of the Borrower's consolidated financial statements for the Borrower's first full fiscal quarter ending after the first anniversary of the Effective Date, the "Tranche B Rate" shall be the applicable rate per annum set forth below in Category 1: =============================================================================== ABR EURODOLLAR LEVERAGE RATIO: SPREAD SPREAD -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CATEGORY 1 Equal to or greater than 4.00 to 1.75% 2.75% 1.00 -------------------------------------------------------------------------------- CATEGORY 2 Less than 4.00 to 1.00 but equal 1.50% 2.50% to or greater than 3.50 to 1.00 -------------------------------------------------------------------------------- CATEGORY 3 1.25% 2.25% Less than 3.50 to 1.00 =============================================================================== For purposes of the foregoing, (a) the Leverage Ratio as described above shall be determined as of the end of each fiscal quarter of the Borrower's fiscal year based upon the Borrower's consolidated financial statements delivered pursuant to Section 5.0 1(a) or (b) and (b) each change in the Applicable Rate resulting from a change in the Leverage Ratio shall be effective during the period commencing on and including the Applicable Rate Determination Date with respect to 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 shall be deemed to be in Category 1 (i) at any time that an Event of Default has occurred and is continuing or (ii) if the Borrower fails to deliver the consolidated financial statements required to be delivered by it pursuant to Section 5.01(a) or (1,), during the period from the expiration of the time for delivery thereof until such consolidated financial statements are delivered.
Tranche B Rate means, during any Interest Period (as defined in the definition of LIBO Rate) for any portion of any Advance within Tranche B, an interest rate per annum equal to the Reserve Adjusted LIBO Rate (as defined in the definition of LIBO Rate) plus four (4%) percent.
Tranche B Rate shall have the meaning provided in Section 2.08(b). --------------
Tranche B Rate in Section 1.01 of the Credit Agreement is hereby amended by replacing the percentages "2.75%" and "3.75%" with "3.25%" and 4.25%", respectively.
Tranche B Rate. , for any day, means Prime Rate plus *** per annum.
Tranche B Rate is defined in Section 2.3(a)(ii).
Tranche B Rate in Section 1.01 of the Credit Agreement is hereby amended by inserting the words ", in each case as such amounts shall be increased in accordance with Section 2.21(b)" after the text "in the case of an ABR Loan".