Examples of Applicable Increment in a sentence
In the event of any change in the Base Rate, the rate hereunder with respect to Base Rate Loans shall change, as of the date of such change, so as to remain equal to the Applicable Increment plus the new Base Rate then in effect.
The Companies, the Lenders and the Agent hereby agree that, effective as of October 1, 2003: (a) each Applicable Fee Percentage set forth in the definition of the term "Applicable Fee Percentage" in the Financing Agreement shall be increased by .25%; and each Applicable Increment set forth in the definition of the term "Applicable Increment" in the Financing Agreement shall be increased by .25%.
The Applicable Increment shall be determined for each Interest Period on the first day of such Interest Period as follows: If Debtor's TL/TA ratio is greater than or equal to 0.5, the Applicable Increment shall be 175 basis points; If Debtor's TL/TA ratio is less than 0.5 but equal to or greater than 0.4, the Applicable Increment shall be 165 basis points; If Debtor's TL/TA ratio is less than 0.4, the Applicable Increment shall be 150 basis points.
Each Applicable Increment set forth in the definition of the term "Applicable Increment" in the Financing Agreement is hereby increased by .25%.
Any amount charged to a Borrower's Revolving Loan Account shall be deemed a Revolving Loan hereunder and shall incur interest at the Base Rate plus the Applicable Increment.