Interest and Applicable Margins Clause Samples
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders with respect to the various Loans made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Loans which are designated as Index Rate Loans (and for all other Obligations not otherwise set forth below), the Index Rate plus the Applicable Revolver Index Margin per annum or, with respect to Revolving Loans which are designated as LIBOR Loans, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum; and (ii) with respect to such portion of the Term Loans designated as an Index Rate Loan, the Index Rate plus the Applicable Term Loan Index Margin per annum or, with respect to such portion of the Term Loans designated as a LIBOR Loan, the applicable LIBOR Rate plus the Applicable Term Loan LIBOR Margin per annum. The Applicable Margins shall be as follows: Applicable Revolver Index Margin 2.75 % Applicable Revolver LIBOR Margin 3.75 % Applicable Term Loan Index Margin 2.75 % Applicable Term Loan LIBOR Margin 3.75 % 1 Borrower to supply account information. provided; however, the Applicable Margins, with respect to the Term Loan, shall be adjusted (up or down) prospectively on a quarterly basis as determined by Holdings’ and its Subsidiaries’ consolidated financial performance. Adjustments in Applicable Margins will be determined by reference to the following grids: Level I ³ 4.00 to 1.00 3.25 % 4.25 % Level II ³ 2.50 to 1.00, and < 4.00 to 1.00 2.75 % 3.75 % Level III < 2.50 to 1.00 2.25 % 3.25 % All adjustments in the Applicable Margins shall be implemented quarterly on a prospective basis, five (5) Business Days after the date of delivery to Lenders of the quarterly unaudited Financial Statements evidencing the need for an adjustment. Concurrently with the delivery of those Financial Statements, Borrower shall deliver to Agent and Lenders a certificate, signed by its chief financial officer, setting forth in reasonable detail the basis for the continuance of, or any change in, the Applicable Margins. If any Default or an Event of Default has occurred and is continuing at the time any reduction in the Applicable Margins is to be implemented, that reduction shall be deferred until the first day of the first calendar month following the date on which all Defaults or Events of Default are waived or cured.
(b) If any payment on any Loan becomes due and payable on a da...
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum, based on the aggregate Revolving Credit Advances outstanding from time to time; and (ii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum. As of the Closing Date, the Applicable Margins are as follows: ------------------------------------------------------ Applicable Revolver Index Margin 1.75% ------------------------------------------------------ Applicable Revolver LIBOR Margin 3.00% ------------------------------------------------------ Applicable L/C Margin 3.00% ------------------------------------------------------ The Applicable Margins shall be adjusted (up or down) prospectively on a quarterly basis as determined by Borrower's consolidated financial performance, commencing with the first day of the first calendar month that occurs more than 5 days after delivery of Borrower's quarterly Financial Statements to Lenders for the Fiscal Quarter ending September 30, 2003. Adjustments in Applicable Margins shall be determined by reference to the following grids: ---------------------------------------------------------------------- If Total Leverage Level of Ratio is: Applicable Margins: ---------------------------------------------------------------------- >=4.75 to 1.0 Level I ---------------------------------------------------------------------- >=4.00 to 1.0, but Level II <4.75 to 1.0 ---------------------------------------------------------------------- <4.00 to 1.0 Level III ---------------------------------------------------------------------- ---------------------------------------------------------------------- Applicable Margins ---------------------------------------------------------------------- Level I Level II Level III ---------------------------------------------------------------------- Applicable Revolver Index Margin 2.00% 1.75% 1.50% ---------------------------------------------------------------------- Applicable Revolver LIBOR Margin 3.25% 3.00% 2.75% ---------------------------------------------------------------------- Applicable L/C M...
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum.
(A) As of the First A&R Closing Date, the Applicable Margins were as follows: Applicable Revolver Index Margin 0.00 % Applicable Revolver LIBOR Margin 1.25 % Applicable L/C Margin 1.25 % Applicable Unused Line Fee Margin 0.375 % At all times from and after the First A&R Closing Date until (but excluding) the Closing Date, the Applicable Margins shall be adjusted by reference to the following grids: Applicable Revolver Index Margin 0.00 % 0.00 % 0.25 % 0.50 % Applicable Revolver LIBOR Margin 1.25 % 1.50 % 1.75 % 2.00 % Applicable L/C Margin 1.25 % 1.50 % 1.75 % 2.00 % Applicable Unused Line Fee Margin 0.375 % 0.375 % 0.25 % 0.25 % Adjustments in the Applicable Margins commencing with the Fiscal Quarter ending on or about December 31, 2005 shall be implemented quarterly on a prospective basis, commencing on the first day of the calendar month that begins after the date of delivery to Lenders of the Compliance Certificate delivered to Agent and Lenders pursuant to paragraph (b) of Annex E with respect to a Fiscal Quarter evidencing the need for an adjustment. Concurrently with the delivery of such Compliance Certificate, Borrower shall deliver to Agent and Lenders a certificate, signed by its chief financial officer, setting forth in reasonable detail the basis for the continuance of, or any change in, the Applicable Margins. Failure to timely deliver such Compliance Certificate shall, in addition to any other remedy provided for in this Agreement, result in an increase in the Applicable Margins to the highest level set forth in the foregoing grid, until the date of the delivery of a Compliance Certificate demonstrating that such an increase is not required. If an Event of Default has occurred and is continuing at the time any reduction in the Applicable Margins is to be implemented, that reduction shall be deferred until the date on which such Event of Default is waived or cured.
(B) As of the Closing Date, the Applicable Margins are as follows: Applicable Revolver Index Margin 0.75 % Applicable Revolver LIBOR Margin 2.25 % Applicable L/C Margin 2.25 % Applicable Unused Line Fee Margin 0.5...
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum, based on the aggregate Revolving Credit Advances outstanding from time to time; and (ii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum. As of the Closing Date, the Applicable Margins are as follows: Applicable Revolver Index Margin 1.75% Applicable Revolver LIBOR Margin 3.00% Applicable L/C Margin 3.00% The Applicable Margins shall be adjusted (up or down) prospectively on a quarterly basis as determined by Borrower's consolidated financial performance, commencing with the first day of the first calendar month that occurs more than 5 days after delivery of Borrower's quarterly Financial Statements to Lenders for the Fiscal Quarter ending September 30, 2003. Adjustments in Applicable Margins shall be determined by reference to the following grids: If Total Leverage Level of Ratio is: Applicable Margins: -------- ------------------ > or =4.75 to 1.0 Level I > or =4.00 to 1.0, but Level II <4.75 to 1.0
Interest and Applicable Margins. (a) Borrowers shall pay interest to Revolver Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates:
(i) with respect to the Revolving Credit Advances (Revolver A) and Revolving Credit Advances (Revolver B), the Index Rate plus the Applicable Revolver Index Margin per annum; (ii) with respect to the Term Loan A, the Index Rate plus the Applicable Term Loan A Index Margin per annum; (iii) with respect to Term Loan B, a fixed rate equal to eleven percent (11%) per annum; (iv) with respect to the Acquisition Loan Advances, the Index Rate plus the Applicable Acquisition Loan Index Margin per annum; and (v) with respect to the Swing Line Loans, the Index Rate plus the Applicable Revolver Index Margin per annum. The Applicable Revolver Index Margin, the Applicable Term Loan A Index Margin and the Applicable Acquisition Loan Index Margin, during any period when the Leverage Ratio is at the applicable level set forth below, will be equal to the corresponding rate per annum set forth below for such Leverage Ratio: Applicable Term Loan A Index Margin and Applicable Applicable Acquisition Tier Leverage Ratio Revolver Index Margin Loan Index Margin ---- -------------- --------------------- ----------------- IV Greater than or equal to 3.75 to 1.00 1.00% 1.50% III Less than 3.75 to 1.00 and greater than or equal 0.75% 1.25% to 3.50 to 1.00 II Less than 3.50 to 1.00 and greater than or equal 0.50% 1.00% to 3.25 to 1.00 I Less than 3.25 to 1.00 0.25% 0.75% The Applicable Revolver Index Margin, the Applicable Term Loan A Index Margin and the Applicable Acquisition Loan Index Margin shall be established at the end of each Fiscal Quarter (each, a "Determination Date"). Any change in the Applicable Revolver Index Margin, the Applicable Term Loan A Index Margin or the Applicable Acquisition Loan Index Margin following each Determination Date shall be determined based upon the computations set forth in the Compliance Certificate furnished to the Agents and the Lenders pursuant to Section (b) of Annex E, subject to review and confirmation of such computations by the Agents, and shall be effective (the "Effective Date") commencing on the first Business Day next following the date such Compliance Certificate is received until the first Business Day following the date on which a new Compliance Certificate is delivered; provided however, if the Borrowers sh...
Interest and Applicable Margins. 4 1.3. Fees...........................................................................................6 1.4. Payments.......................................................................................7 1.5. Prepayments....................................................................................8 1.6. Maturity.......................................................................................9
Interest and Applicable Margins. Eligible Accounts
Interest and Applicable Margins. On and after the Effective Date:
Interest and Applicable Margins. 6 1.6. [Intentionally Omitted].................................................................... 8 1.7. [Intentionally Omitted].................................................................... 8 1.8. Cash Management Systems.................................................................... 8 1.9. Fees....................................................................................... 8 1.10.
Interest and Applicable Margins. (a) Borrower shall pay interest to the Administrative Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Term Loan A, at the election of Borrower, (A) the Index Rate plus the Applicable Term A Index Margin per annum or (B) at the election of Borrower, the applicable LIBOR Rate plus the Applicable Term A LIBOR Margin per annum; (ii) with respect to the Term Loan B, at the election of Borrower, (A) the Index Rate plus the Applicable Term B Index Margin per annum or (B) the applicable LIBOR Rate plus the Applicable Term B LIBOR Margin per annum; and (iii) with respect to the Term Loan C, at the election of Borrower, (A) the Index Rate plus the Applicable Term C Index Margin per annum or (B) the applicable LIBOR Rate plus the Applicable Term C LIBOR Margin per annum. The applicable margins are as follows: