CDOR Spread definition

CDOR Spread. “Eurodollar Spread” or “Commitment Fee Rate”, as the case may be, based upon the Debt Service Coverage Ratio as of the most recent determination date, provided that until five Business Days after the receipt by the Administrative Agent, pursuant to Section 5.01, of the Company’s consolidated financial information for the Company’s fiscal quarter ending September 30, 2010, the “Applicable Rate” shall be the applicable rate per annum set forth below in Category 3: Domestic and Canadian Canadian Canadian Domestic Debt Revolving Revolving Revolving Revolving Canadian Term A Service Loan Loan Loan Loan Revolving Loan Term A Coverage Eurodollar CDOR USBR CBFR Loan CP Eurodollar Loan CBFR Ratio Spread Spread Spread Spread Spread Spread Spread Category 1 3.00 % 3.00 % 0.50 % 0.50 % 0.50 % 4.00 % 1.50 % ³ 1.75 to 1.0 Category 2 3.25 % 3.25 % 0.75 % 0.75 % 0.75 % 4.25 % 1.75 % < 1.75 to 1.0 but ³ 1.50 to 1.0 Category 3 3.50 % 3.50 % 1.00 % 1.00 % 1.00 % 4.50 % 2.00 % < 1.50 to 1.0 but ³ 1.25 to 1.0 Category 4 3.75 % 3.75 % 1.25 % 1.25 % 1.25 % 4.75 % 2.25 % < 1.25 to 1.0 but ³ 1.10 to 1.0 Category 5 4.00 % 4.00 % 1.50 % 1.50 % 1.50 % 5.00 % 2.50 % < 1.10 to 1.0 Term B Loan Ex-Im Revolving Ex-Im Revolving Debt Service Eurodollar Term B Loan Loan Eurodollar Loan CBFR Commitment Coverage Ratio Spread CBFR Spread Spread Spread Fee Rate Category 1 6.00 % 4.00 % 1.50 % 0.0 % 0.75 % ³ 1.75 to 1.0 Category 2 6.25 % 4.25 % 1.75 % 0.0 % 0.75 % < 1.75 to 1.0 but ³ 1.50 to 1.0 Category 3 6.50 % 4.50 % 2.00 % 0.0 % 0.75 % < 1.50 to 1.0 but ³ 1.25 to 1.0 Category 4 6.75 % 4.75 % 2.25 % 0.0 % 0.75 % < 1.25 to 1.0 but ³ 1.10 to 1.0 Category 5 7.00 % 5.00 % 2.50 % 0.0 % 0.75 % < 1.10 to 1.0 For purposes of the foregoing, (a) the Applicable Rate shall be determined and made effective five Business Days after the receipt by the Administrative Agent of the Company’s annual or quarterly consolidated financial statements delivered pursuant to Section 5.01 and (b) each change in the Applicable Rate resulting from a change in the Debt Service Coverage 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 Debt Service Coverage Ratio shall be deemed to be in Category 5 at the written election of the Administrative Agent if the Company fails to deliver the an...

CDOR Spread or “Eurodollar Spread”, as the case may be, based upon the Debt Service Coverage Ratio as of the most recent determination date, provided that until five Business Days after the receipt by the Administrative Agent, pursuant to Section 5.01, of the Company’s consolidated financial information for the Company’s fiscal quarter ending March 31, 2012, the “Applicable Rate” shall be the applicable rate per annum set forth below in Category 1: Debt Service Coverage Ratio Domestic and Canadian Revolving Loan Eurodollar Spread Canadian Revolving Loan CDOR Spread Canadian Revolving Loan USBR Spread Domestic Revolving Loan CBFR Spread Canadian Revolving Loan CP Spread Ex-Im Revolving Loan Eurodollar Spread Ex-Im Revolving Loan CBFR Spread Term Loan Eurodollar Spread Term Loan CBFR Spread Category 2 < 1.75 to 1.0 but ³ 1.50 to 1.0 2.00 % 2.00 % 0.50 % -0.75 % 0.50 % 0.50 % 0.00 % 2.75 % 0.25 % Category 3 < 1.50 to 1.0 but ³ 1.25 to 1.0 2.25 % 2.25 % 0.75 % -0.50 % 0.75 % 0.75 % 0.00 % 2.75 % 0.25 % Category 4 < 1.25 to 1.0 but ³ 1.10 to 1.0 2.50 % 2.50 % 1.00 % -0.25 % 1.00 % 1.00 % 0.00 % 2.75 % 0.25 % Category 5 < 1.10 to 1.0 2.75 % 2.75 % 1.25 % 0.00 % 1.25 % 1.25 % 0.00 % 2.75 % 0.25 % For purposes of the foregoing, (a) the Applicable Rate shall be determined and made effective five Business Days after the receipt by the Administrative Agent of the Company’s annual or quarterly consolidated financial statements delivered pursuant to Section 5.01 and (b) each change in the Applicable Rate resulting from a change in the Debt Service Coverage 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 Debt Service Coverage Ratio shall be deemed to be in Category 5 at the written election of the Administrative Agent if the Company fails to deliver the annual or quarterly consolidated financial statements required to be delivered by it pursuant to Section 5.01, during the period from the expiration of the time for delivery thereof until such consolidated financial statements are delivered.

More Definitions of CDOR Spread

CDOR Spread. Eurodollar Spread", "CBFR CB Floating Rate Spread" or "Overnight LIBO Rate Spread," as the case may be: Domestic Revolving Loan CBFR RevLibor30 Spread Domestic Canadian and European Revolving Loan Eurodollar Spread Canadian Revolving Loan CDOR Spread Overnight LIBO Rate Spread Canadian Revolving Loan USBR Spread Domestic Revolving Loan CBFR CB Floating Rate Spread Canadian Revolving Loan CP Spread 1.20% 1.20% 1.20% 1.20% -0.30% -1.55% -0.30% "Business Day" means any day that is not a Saturday, Sunday or other day on which commercial banks in Chicago, Toronto, London or Dublin are authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan or a Loan accruing interest at REVLIBOR30 Rate without giving effect to the proviso contained in the definition for "REVLIBOR30 Rate", the term "Business Day" shall also exclude any day on which banks are not open for dealings in Dollar, Euro or Sterling deposits, as applicable, in the London interbank market (and, in relation to any date for payment or purchase of Euro, the term "Business Day" shall also exclude any day on which the TARGET2 payment system is not open for the settlement of payment in Euro). "CBFR", when used in reference to: (a) a rate of interest, refers to the REVLIBOR30 Rate and (b) any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to the REVLIBOR30 Rate. "Consolidated EBITDA" means, for any period, Consolidated Net Income, plus, (a) without duplication and to the extent deducted in determining Consolidated Net Income for such period, the sum of: (i) Consolidated Interest Expense for such period; (ii) Consolidated Tax Expense for such period; (iii) all amounts attributable to depreciation and amortization expense for such period;

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LIBOR Spread means, at any date or any period of determination, the LIBOR Spread that would be in effect on such date or during such period pursuant to the chart set forth in Section 2.22 based on the rating of the Borrower's senior unsecured long-term debt.
ABR Spread or “Fee Percentage”, as the case may be, based upon the ratings by S&P and Xxxxx’x, respectively, applicable on such date to the Index Debt; provided, that, after the Maturity Date, the applicable percentage (Eurodollar Spread or ABR Spread) below shall be increased by 0.500% per annum Eurodollar Spread ABR Spread Fee Percentage Category 1 BBB+ or higher by S&P or Baa1 or higher by Xxxxx’x 0.625% 0.000% 0.125% Category 2 BBB by S&P or Baa2 by Xxxxx’x 0.725% 0.000% 0.150% Category 3 BBB–by S&P or Baa3 by Xxxxx’x 0.950% 0.000% 0.175% Category 4 BB+ by S&P or Ba1 by Xxxxx’x 1.275% 0.500% 0.225% Category 5 BB or lower by S&P or Ba2 or lower by Xxxxx’x 1.675% 1.000% 0.325% For purposes of this definition, (i) if either Xxxxx’x or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence of this paragraph), then such rating agency shall be deemed to have established a rating in Category 5; (ii) if the ratings established or deemed to have been established by Xxxxx’x and S&P for the Index Debt shall fall within different Categories, the Applicable Percentage shall be based on the higher of the two ratings unless the ratings differ by more than one category, in which case the governing rating shall be the rating next below the higher of the two; and (iii) if the ratings established or deemed to have been established by Xxxxx’x and S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of Xxxxx’x or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Applicable Percentage shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of Xxxxx’x or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the non-availability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Applicable Percentage shall be determined by reference to the rating most recently in effect prior to such change or cessation.
Applicable Spread means, in connection with the Maximum Rate for any Rate Period (and subject to adjustment as described in the definition of Maximum Rate) (i) when there is not a Failed Remarketing Condition, 200 basis points (2.00%), and (ii) while a Failed Remarketing Condition has occurred or is continuing, 200 basis points (2.00%) (up to 59 days of a continued Failed Remarketing Condition), 225 basis points (2.25%) (sixty (60) days but fewer than ninety (90) days of a continued Failed Remarketing Condition), 250 basis points (2.50%) (ninety (90) days but fewer than 120 days of a continued Failed Remarketing Condition), 275 basis points (2.75%) (120 days but fewer than 150 days of a continued Failed Remarketing Condition), 300 basis points (3.00%) (150 days but fewer than 180 days of a continued Failed Remarketing Condition), and 400 basis points (4.00%) (180 days or more of a continued Failed Remarketing Condition); provided that, if at any time when the Applicable Spread is 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) and the Failed Remarketing Condition no longer exists due to the successful remarketing of all Purchased VRDP Shares, then such Applicable Spread of 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) will continue to be the Applicable Spread in connection with determining the Maximum Rate in effect for each Rate Period commencing with the first Subsequent Rate Period after the Failed Remarketing Condition no longer exists through and including the first Subsequent Rate Period ending on or after the 45th day after the day the Failed Remarketing Condition no longer exists; provided, further, that (i) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 225 basis points (2.25%), the date such new Failed Remarketing Condition occurs will be deemed to be the 60th day of a continued Failed Remarketing Condition, (ii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 250 basis points (2.50%), the date such new Failed Remarketing Condition occurs will be deemed to be the 90th day of a continued Failed Remarketing Condition, (iii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 275 basis points (2.75%), the date such new Failed Remarketing Condition occurs will be deemed to be the 120th day of a continued Failed Remarketing Condition, (iv) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 300 basis points (3.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 150th day of a continued Failed Remarketing Condition and (v) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 400 basis points (4.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 180th day of a continued Failed Remarketing Condition, in each case, solely for purposes of determining the Applicable Spread.
LIBOR Total Spread means, for each Interest Period: (A) three-fourths of one percent (3/4 of 1%); (B) minus (or plus) the weighted average margin, for such Interest Period, below (or above) the London interbank offered rates, or other reference rates, for six-month deposits, in respect of the Bank’s outstanding borrowings or portions thereof allocated by the Bank to fund single currency loans or portions thereof made by it that include the Loan; as reasonably determined by the Bank and expressed as a percentage per annum.
Weighted Average Spread means, with respect to Floating Rate Obligations (in each case excluding Defaulted Loans), as of any date, the number obtained by:
Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.
Pricing Spread shall have the meaning set forth in the Pricing Side Letter.
Fixed Spread means the Bank’s fixed spread in effect at 12:01 a.m. Washington, D.C. time, one calendar day prior to the date of the Loan Agreement, for the Currency of denomination of such amount.”
LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).
Weighted Average Floating Spread means, as of any date of determination, the number, expressed as a percentage, obtained by summing the products obtained by multiplying, in the case of each Floating Rate Loan (excluding Defaulted Loans) on an annualized basis, the Spread of such Loans (including commitment, letter of credit and all other fees), by the Outstanding Loan Balance of such Loans as of such date and dividing such sum by the aggregate Outstanding Loan Balance of all such Floating Rate Loans and rounding the result up to the nearest 0.01%; provided that the Spread of any Revolver Loan which is not fully funded shall be the sum of:
Facility Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.
Free Margin means the amount of funds available in the Client Account, which may be used to open a position or maintain an Open Position. Free Margin shall be calculated as: Equity less (minus) Necessary Margin [Free margin = Equity- Necessary Margin].
Make-Whole Spread means, with respect to any Series of Equipment Notes, the percentage specified for the applicable Series as such in Schedule I to the Indenture (as amended, in the case of any Additional Series, new Series A Equipment Notes or new Additional Series issued pursuant to Section 2.02 of the Indenture, at the time of issuance of such Series).
Applicable Eurocurrency Margin means, as at any date of determination, the rate per annum then applicable to Eurocurrency Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.
Applicable 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 1.4(a).
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.
Relative Spread with respect to any Note and any date of determination shall mean the ratio of the Interest Rate of such Note to the weighted average as of such date of determination (prior to taking into account any payments made on account of principal as of such date) of the Interest Rates on all the Notes based on their Principal Balances.
Eurodollar Margin means the percentage set forth in Schedule 1 hereto beside the then applicable Level.
CD Margin means a rate per annum determined in accordance with the Pricing Schedule.
Step Up Margin means the rate per annum specified in the applicable Final Terms; and
Pricing Grid the pricing grid attached hereto as Annex A.
Commitment Fee Rate has the meaning set forth in the definition of “Applicable Margin”.
Facility Fee Percentage means the applicable percentage per annum ----------------------- determined, at any time, based on the range into which Borrower's Credit Rating (if any) then falls, in accordance with the following tables. Any change in the Facility Fee Percentage shall be effective immediately as of the date on which any of the rating agencies announces a change in the Borrower's Credit Rating or the date on which the Borrower has no Credit Rating, whichever is applicable. The Facility Fee Percentage during the time, from time to time, that the Borrower maintains an Investment Grade Credit Rating by either Xxxxx'x or S&P shall be as follows: Range of Borrower's Credit Rating Percentage of S&P/Moody's Ratings Maximum Credit Amount ------------------- --------------------- below BBB-/Baa3 0.00% BBB-/Baa3 0.20% BBB/Baa2 0.20% BBB+/Baa1 0.15% A-/A3 0.15% If at any time the Borrower has a Credit Rating by both Moody's and S&P which Credit Ratings are split, then: (A) if the difference between such Credit Ratings is one ratings category (e.g. Baa2 by Moody's and BBB- by S&P), the Facility Fee Percentage shall be the rate per annum that would be applicable if the highest of the Credit Ratings were used; and (B) if the difference between such Credit Ratings is two ratings category (e.g. Baa1 by Moody's and BBB- by S&P), the Facility Fee Percentage shall be the rate per annum that would be appli- cable if the median of the applicable Credit Ratings is used.
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
Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.
Unused Commitment Fee Rate has the meaning given to such term in the Fee Letter.

CDOR Spread definition

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