LIBO Margin definition

LIBO Margin shall have the meaning assigned to such term in Section 2.03(c)(ii)(C) hereof.

LIBO Margin has the meaning ascribed thereto in the Fee Letter.

LIBO Margin means the applicable interest rate increment shown on the Pricing Grid Rider to be added for purposes of calculating the Applicable Rate with respect to any Eurodollar Revolving Loan.

Examples of LIBO Margin in a sentence

• An interest rate per annum equal to the LIBO Margin plus the rate per annum obtained by dividing (a) the rate of interest per annum at which deposits in United States dollars are offered in the London Interbank Market two (2) Business Days prior to the commencement of a LIBO Interest Period, by (b) an amount equal to 1 minus the LIBO Reserve Percentage for such LIBO Interest Period.

• The number of basis points which shall, at any point in time, constitute the LIBO Margin determined in accordance with the following table: LIBO Margin Leverage Ratio (measured as of each quarter end) 75 basis points <0.35:1.00 - 85 basis points >0.35:1.00 and <0.50:1.00 - 95 basis points >0.50:1.00 and <0.75:1.00 - The Leverage Ratio shall be measured as of the end of each calendar quarter based upon financial information provided by Borrower in accordance with the provisions of the Loan Agreement.

• The Loans constituting each LIBO Borrowing shall bear interest at a rate per annum equal to the Adjusted LIBO Rate for the Interest Period for such Borrowing plus the LIBO Margin.

• The Borrower may elect that the Revolving Loans comprising each borrowing bear interest at a rate per annum equal to: the ABR plus the Applicable ABR Margin; or the Adjusted LIBO Rate plus the Applicable LIBO Margin.

• Accordingly, all references in the Loan Agreement to LIBO Rate Loans, Adjusted LIBO Rate, Applicable LIBO Margin and LIBO Base Rate are hereby deleted.

More Definitions of LIBO Margin

LIBO Margin as defined in Section 2.03(c)(ii)(C). -----------

LIBO Margin is defined in Section 3.5.3.

LIBO Margin means the Bps per annum set forth below opposite the Borrower’s applicable issuer credit rating from S&P, senior unsecured long-term debt rating from Xxxxx’x and long-term senior debt rating from Fitch in the column labeled “LIBO Margin”; provided that the LIBO Margin shall be equal to the respective Bps so determined plus twenty (20) Bps per annum for any day on which Utilization exceeds 50% (it being understood that if any Loans remain outstanding following the Commitment Termination Date, Utilization shall be deemed to be 100%); provided, further, that if the Borrower’s issuer credit rating from S&P, senior unsecured long-term debt rating from Xxxxx’x or long-term senior debt rating from Fitch are different, the following rules shall apply: (a) if two of the credit ratings fall within the same category, that rating shall apply, (b) if all of the ratings fall within different categories, the midpoint rating between the highest and the lowest ratings shall apply, and (c) if the Borrower is rated by only two of the rating agencies specified below, the lower of the two ratings shall apply; provided, however, that if the Borrower is not rated by any of the rating agencies specified below, or is rated by only one of the rating agencies specified below (without prejudice to the requirements of Section 5.11), LIBO Margin shall be determined by the lowest senior unsecured debt credit rating category specified below. S&P Xxxxx’x Xxxxx XXXX Margin Facility Fee ³A+ ³A1 ³A+ 87.5 Bps 12.5 Bps A A2 A 97.5 Xxx 00.0 Xxx X- X0 X- 000.0 Bps 17.5 Bps BBB+ Baa1 BBB+ 125.0 Bps 25.0 Bps BBB Baa2 BBB 170.0 Bps 30.0 Bps <BBB <Baa2 <BBB 200.0 Bps 45.0 Bps

LIBO Margin shall have the meaning assigned to such term in Section 2.03(c)(ii)(C) hereof. “LIBOR Auction” shall mean a solicitation of Money Market Quotes setting forth LIBO Margins based on the Eurocurrency Rate pursuant to Section 2.03 hereof. “LIBOR Market Loans” shall mean Money Market Loans the interest rates on which are determined on the basis of Eurocurrency Rates pursuant to a LIBOR Auction. “Lien” shall mean, with respect to any Property, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such Property. For purposes of this Agreement, a Person shall be deemed to own subject to a Lien any Property that it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement (other than an operating lease) relating to such Property.

LIBO Margin. (in the case of LIBOR Market Loans) or "Set Rate" (in the case of Set Rate Loans).

LIBO Margin in Section 1.01 of the Credit Agreement is hereby amended in its entirety to provide as follows:

LIBO Margin means (a) with respect to an Adjusted Libor Loan which is a Revolving Credit Loan, the percentage set forth below under the heading "Revolving Credit Loan LIBO Margin" opposite the applicable ratio and (b) with respect to an Adjusted Libor Loan which is a Term Loan, the percentage set forth below under the heading "Term Loan LIBO Margin" opposite the applicable ratio. Revolving Credit Loan Term Loan Consolidated Funded Debt LIBO Margin LIBO Margin to Consolidated EBITDA (360 day basis) (360 day basis) ---------------------- --------------- --------------- Equal to or less than 2.00:1.00 1.50% 1.75% Greater than 2.00:1.00 but 1.75% 2.00% equal to or less than 2.50:1.00 Greater than 2.50:1.00 but 2.00% 2.25% equal to or less than 3.00:1.00 Greater than 3.00:1.00 but 2.25% 2.50% equal to or less than 4.00:1.00 Greater than 4.00:1.00 but 2.50% 2.75% less than 5:00:1:00 Equal to or greater than 5:00:1:00 2.75% 3.00% Notwithstanding the foregoing, during the period commencing the Closing Date and ending on April 15, 1999, the LIBO Margin shall be 2.50%. The LIBO Margin will be set or reset with respect to each Loan on the date which is five Business Days following the date of receipt by the Agent of the financial statements referred to in Section 6.03(a) and Section 6.03(b) together with a certificate of the Chief Financial Officer of the Company certifying the ratio of Consolidated Funded Debt to Consolidated EBITDA and setting forth the calculation thereof in detail; provided, however, (a) the LIBO Margin will first be reset on April 16, 1999, provided the financial statements for the fiscal year ending December 31, 1998, and the certificate of the Chief Financial Officer of the Company identified above are delivered to the Agent not less than five (5) Business Days prior to April 16, 1999; and (b) if any such financial statement and certificate are not received by the Agent within the time period required pursuant to Section 6.03(a) or Section 6.03(b), as the case may be, the LIBO Margin will be set or reset, unless the rate of interest specified in Section 3.01(e) is in effect, based on a ratio of Consolidated Funded Debt to Consolidated EBITDA of greater than 5.00:1.00 from the date such financial statement and certificate were due until the date which is five Business Days following the receipt by the Agent of such financial statements and certificate, and provided, further, that the Lenders shall not in any way be deemed to have waived any Default or Even...