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 Interest Rate Margin means, for any Interest Period, a percentage per annum equal to 0.175%.
Applicable Interest Rate Margin means (a) for any date prior to the date of the Spin-Off (i) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (ii) 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 (A) the rating of Kraft Foods’ long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Kraft Foods, the long-term company, issuer or similar rating established by Standard & Poor’s for Kraft Foods) and (B) the rating of Kraft Foods’ long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Kraft Foods, the long-term company, issuer or similar rating established by Moody’s for Xxxxx Foods), in each case on such date, and (b) for any date on or following the date of the Spin-Off (i) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (ii) 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 (A) the rating of Kraft Foods Group’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Kraft Foods Group, the long-term company, issuer or similar rating established by Standard & Poor’s for Kraft Foods Group) and (B) the rating of Kraft Foods Group’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Kraft Foods Group, the long-term company, issuer or similar rating established by Moody’s for Xxxxx Foods Group), in each case on such date: Long-Term Senior Unsecured Debt Rating Base Rate Spread LIBO Rate Spread A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.875 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 1.000 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.125 % 1.125 % BBB by Standard & Poor’s Baa2 by Moody’s 0.250 % 1.250 % BBB- by Standard & Poor’s Baa3 by Moody’s 0.500 % 1.500 % Lower than BBB- by Standard & Poor’s Lower than Baa3 by Moody’s 0.750 % 1.750 % provided that if on any date of determination pursuant to clause (a) or (b) above (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable In...
Examples of Applicable Interest Rate Margin in a sentence
During such periods as such Pro Rata Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (1) the Base Rate in effect from time to time plus (2) the Applicable Interest Rate Margin in effect from time to time, payable in arrears quarterly on the last Business Day of each March, June, September and December, and on the date such Base Rate Advance shall be Converted or paid in full either prior to or on the Termination Date.
During such periods as such Pro Rata Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Interest Rate Margin (the sum of (x) and (y), the “Base Rate Interest”) payable in arrears monthly on the 20th day of each month and on the date such Base Rate Advance shall be Converted or paid in full.
More Definitions of Applicable Interest Rate Margin
Applicable Interest Rate Margin means for any Interest Period a percentage per annum equal to 0.3700% provided that for any day during any Interest Period that the aggregate amount of Advances outstanding under this Agreement and the 5-Year Facility exceeds 50% of the aggregate amount of Commitments under this Agreement and commitments under the 5-Year Facility, the Applicable Interest Rate Margin shall be increased by 0.1000% per annum.
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:
Applicable Interest Rate Margin means, with respect to (a) any Term B Loans comprising (i) ABR Loans, 1.25% per annum and (ii) Eurodollar Loans, 2.25% per annum; and (b) any Revolving Loans or any Term A Loans comprising, respectively, ABR Loans or Eurodollar Loans, for any Interest Period, the applicable percentage per annum equal to the percentage set forth below, determined by reference to the category containing the lower of (x) the rating applicable to the Facilities from S&P and (y) the rating applicable to the Facilities from Xxxxx'x, in each case corresponding to such ABR Loan or Eurodollar Loan, as in effect on the first day of such Interest Period: --------------------------------------------------------------------------- Revolving Loans and Term A Loans Facilities Ratings -------------------------------- (S&P or Xxxxx'x) ABR Loans Eurodollar Loans --------------------------------------------------------------------------- Category 1: 0.25% 1.25% BBB+ or better and Baa1 or better --------------------------------------------------------------------------- Category 2: BBB or Baa2 0.50% 1.50% --------------------------------------------------------------------------- Category 3: BBB- or Baa3 0.75% 1.75% --------------------------------------------------------------------------- Category 4: BB+ or Ba1 1.00% 2.00% --------------------------------------------------------------------------- Category 5: BB or Ba2 1.25% 2.25% --------------------------------------------------------------------------- Category 6: Worse than BB or Ba2 1.75% 2.75% --------------------------------------------------------------------------- provided that (i) if, at any time, the ratio of Consolidated Total Debt to Consolidated EBITDA is less than 1.5:1, as shown in the most recent certificate delivered by the Borrower to the Administrative Agent pursuant to Section 5.01(c), the Applicable Interest Rate Margin for any Revolving Loans or Term A Loans comprising ABR Loans or Eurodollar Loans at such time shall be reduced by 0.25% per annum, with effect from and including the date of delivery of such certificate to the Administrative Agent, provided, however, that such reduction shall not apply (x) if Category 5 or Category 6 in the above grid apply in determining the Applicable Interest Rate Margin at such time or (y) during any period in which the Borrower is not in compliance with its obligations under Section 5.01(c)); (ii) if, at any time, neither S&P nor Xxxxx'x makes available any rating with respect to ...
Applicable Interest Rate Margin means for any Interest Period a percentage per annum equal to the Credit Default Swap Spread, subject to a minimum rate and a maximum rate as determined by reference to the higher of the ratings of Altria’s long-term senior unsecured debt from (i) Standard & Poor’s and (ii) Moody’s, in each case in effect on the CDS Determination Date: Long-Term Senior Unsecured Debt Rating Minimum Maximum A and A2 or higher 0.250 % 1.250 % A- and A3 0.500 % 1.500 % BBB+ and Baa1 0.750 % 1.750 % BBB and Baa2 1.000 % 2.000 % Lower than BBB and Baa2 1.250 % 2.250 % provided that if no rating is available on any CDS Determination Date from Moody’s and Standard & Poor’s or any other nationally recognized statistical rating organization designated by Altria and reasonably satisfactory to JPMCB, as Administrative Agent, the Applicable Interest Rate Margin shall be determined as if Altria’s long-term unsecured debt rating were lower than BBB and Baa2. The Applicable Interest Rate Margin for any Base Rate Advance on any date will equal the Applicable Interest Rate Margin for LIBO Rate Advances on such date minus 1.000% per annum, but only to the extent that the Applicable Interest Rate Margin for LIBO Rate Advances on such date exceeds 1.000% per annum. To the extent that the Applicable Interest Rate Margin for LIBO Rate Advances on such date equals or is less than 1.000% per annum, the Applicable Interest Rate Margin for any Base Rate Advance will be zero.
Applicable Interest Rate Margin means for any Interest Period a percentage per annum equal to the percentage set forth below as determined by reference to the higher of the ratings of Altria’s long-term senior unsecured debt from (i) Standard & Poor’s and (ii) Moody’s, in each case in effect from time to time during such Interest Period:
Applicable Interest Rate Margin means (a) as to any Base Rate Advance, a rate per annum equal to the Credit Default Swap Spread less 1.00% and (b) as to any LIBO Rate Advance, a rate per annum equal to the Credit Default Swap Spread.
Applicable Interest Rate Margin means, for any Interest Period, a percentage per annum equal to the percentage set forth below: Type of Advance Applicable Interest Rate Margin Revolving Credit 0.3250% Swingline 0.3250% Term 0.3000%